Press release
Industrial Robotics Market: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2033
Industrial Robotics Market
Industrial Robotics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $81.80 billion In 2028 At A CAGR Of 15.2% :
The industrial robotics market size has grown rapidly in recent years. It will grow from $40.39 billion in 2023 to $46.40 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to automation in manufacturing, labor cost reduction, increased productivity, improving quality and precision, rising demand for mass production.
The industrial robotics market size is expected to see rapid growth in the next few years. It will grow to $81.80 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to expanding applications in non-industrial sectors, miniaturization of robotic components, demand for customized robotics solutions, sustainability initiatives, remote operation capabilities. Major trends in the forecast period include predictive maintenance solutions, cloud-based robotics platforms, robotics as a service (RaaS), human-robot collaboration, integration of blockchain for supply chain transparency.
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Industrial Robotics Market Major Segments
The industrial robotics market covered in this report is segmented -
1) By Type: Articulated Robots, Cartesian Coordinate Robots, Cylindrical-Coordinate Robots, Spherical Coordinate Robots, Selective Compliance Assembly Robot Arm (SCARA) Robots, Other Types
2) By Application: Welding And Soldering, Material Handling, Assembling And Disassembling, Dispensing, Processing, Other Applications
3) By End-User: Automotive, Electrical And Electronics, Metals And Machinery, Plastics, Rubbers, And Chemicals, Food And Beverages, Precision Engineering And Optics, Pharmaceuticals And Cosmetics, Other End Users
Key Driver - The Increasing Demand For Automation Fuelling The Industrial Robotics Market
The increasing demand for industrial automation is expected to drive industrial robotics going forward. Industrial automation refers to the use of control systems, machinery, and technology to automate processes and tasks within industrial settings. It involves the integration of various technologies such as sensors, actuators, programmable logic controllers (PLCs), robotics, and computer software to monitor and control manufacturing processes. The demand for industrial automation is due to efficiency improvements, cost reduction, labor shortages, and technological advancements. Industrial robotics enhances industrial automation by providing advanced capabilities, flexibility, efficiency, and safety, ultimately driving productivity and competitiveness in manufacturing industries. For instance, in October 2022, according to the World Robotics 2022 report published by the International Federation of Robotics (IFR), a Germany-based non-profit global robotics industry association, the global industrial robot installations reached 517,000 units in 2021, reflecting a 31% increase from 2020's 394,000 units, with collaborative and traditional industrial robots accounting for 39,000 and 478,000 installations respectively in 2021, compared to 26,000 and 368,000 in 2020. Therefore, the increasing demand for automation is driving the industrial robotics market.
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Prominent Trend - Human Collaboration Robot Launch In The Industrial Robotics Market
Major companies operating in the industrial robotics market are increasing their focus on developing advanced solutions, such as human collaboration robots. A human collaboration robot is a robotic system designed to work alongside humans in shared workspaces, facilitating cooperation and interaction between human workers and machines. For instance, in August 2022, Yasaka Electric Corporation, a Japan-based company operating in drive technology, industrial automation, and robotics, launched the MOTOMAN-HC30PL Robot. The MOTOMAN-HC30PL is a collaborative robot designed for high-payload tasks, featuring advanced safety functions, adaptable programming capabilities, and a sturdy construction specifically suited for palletizing and similar industrial tasks that necessitate cooperation between humans and robots. It includes a human collaboration robot with a 30 kg payload capacity, enhancing palletizing applications with safety, flexibility, and increased efficiency in various industries. This represents advancements in collaborative robotics, addressing the demand for increased payload capacity, automation, and efficiency in the industrial robotics market, catering to evolving industry needs, and driving innovation.
Industrial Robotics Market Players
Major companies operating in the industrial robotics market are Panasonic Corporation, Denso Corporation, Mitsubishi Electric Corporation, ABB Group, Yamaha Motor Pvt. Ltd, Kawasaki Heavy Industries Ltd., Seiko Epson Corporation, Dover Corporation, Bosch Rexroth AG, Omron Corporation, FANUC CORPORATION, SMC Corporation, Dürr Group, YASKAWA Electric Corporation, KUKA AG, Nachi-Fujikoshi Corporation, Comau SpA, Stäubli International AG, Daihen Corporation, Shibaura Machine Co. Ltd., Siasun Robot & Automation Co. Ltd., Estun Automation, Hirata Corporation, Hyundai Robotics, Universal Robots A/S, Aurotek Corporation, Techman Robot Inc., Doosan Robotics, ICR Services, b+m surface systems GmbH, Rethink Robotics GmbH
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the industrial robotics market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Robotics Market Report Structure
3. Industrial Robotics Market Trends And Strategies
4. Industrial Robotics Market - Macro Economic Scenario
5. Industrial Robotics Market Size And Growth
…..
27. Industrial Robotics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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