Press release
Soaring Demand Set to Propel Industrial Robotics Market to $58.83 Billion by 2029
Industrial Robotics
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What Is the Expected CAGR for the Industrial Robotics Market Through 2025?_x000D_
The size of the industrial robotics market has seen quick expansion in the past few years. The projections show growth from $46.4 billion in 2024 to $53.17 billion in 2025, implying a compound annual growth rate (CAGR) of 14.6%. This past expansion can be linked to manufacturing automation, decreased labor expenditure, productivity uptick, enhancement in quality and precision, along with an increasing requirement for mass production._x000D_
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What's the Projected Size of the Global Industrial Robotics Market by 2029?_x000D_
Anticipated to observe swift expansion in the coming years, the industrial robotics market is projected to reach a worth of $89.18 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.8%. The impending growth is driven by factors such as broadening application scope in non-industrial sectors, shrinking robotic components, the rising need for bespoke robotic solutions, emphasis on sustainability, and possibilities for remote operation. Notable upcoming trends encompass predictive maintenance solutions, cloud-operated robotics platforms, Robotics as a Service (RaaS), collaborative work between humans and robots, and the adoption of blockchain for enhancing supply chain transparency._x000D_
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Top Growth Drivers in the Industrial Robotics Industry: What's Accelerating the Market? _x000D_
The industrial robotics market is predicted to be propelled forward by the growing need for industrial automation. This term refers to the employment of machinery, control systems, and technology to automate the processes and tasks within an industrial environment. Various advanced technologies like sensors, actuaries, programmable logic controllers (PLCs), robotics, and computer software are interwoven to supervise and direct manufacturing processes. The call for industrial automation can be attributed to factors such as improvements in efficiency, lowering of costs, labor deficits, and progress in technology. Industrial robotics bolster industrial automation by providing superior capabilities, flexibility, efficiency, and safety, thereby increasing productivity and competitiveness in manufacturing sectors. For example, a study conducted by Rockwell Automation, Inc., an American automation firm, in March 2024 highlighted that 95% of manufacturers are currently either making use of or assessing smart manufacturing. This figure marks a considerable rise from 83% in the previous year. Encouragingly, about 94% of these manufacturers plan to sustain or increase their workforce due to the integration of smart manufacturing technologies. Consequently, the escalating demand for automation is the key driver of the industrial robotics market._x000D_
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What Trends Will Shape the Industrial Robotics Market Through 2029 and Beyond?_x000D_
Leading corporations within the industrial robotics sector are placing greater emphasis on the creation of sophisticated solutions like human collaboration robots. These special robots are purposefully engineered to co-work in a shared space with humans, encouraging interaction and cooperative work between humans and machines. For example, Yasaka Electric Corporation, a Japanese company specialising in drive technology, industrial automation, and robotics, introduced the MOTOMAN-HC30PL Robot in August 2022. Designed for heavy-duty tasks, the MOTOMAN-HC30PL is a collaborative robot that comes with progressive safety features, adaptable programming abilities, and a robust build that is ideal for palletizing and similar industrial functions which require human-robot teamwork. It comes with a 30 kg payload capacity human collaboration robot, boosting palletizing tasks with safety, adaptability, and elevated efficiency across different sectors. These developments in collaborative robotics meet the growing need for higher payload capacity, automation, and efficiency in the industrial robotics market, responding to emerging industrial requirements and spurring innovation._x000D_
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What Are the Main Segments in the Industrial Robotics Market?_x000D_
The industrial roboticsmarket covered in this report is segmented - _x000D_
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1) By Type: Articulated Robots, Cartesian Coordinate Robots, Cylindrical-Coordinate Robots, Spherical Coordinate Robots, Selective Compliance Assembly Robot Arm (SCARA) Robots, Other Types_x000D_
2) By Application: Welding And Soldering, Material Handling, Assembling And Disassembling, Dispensing, Processing, Other Applications_x000D_
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_x000D_
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Subsegments:_x000D_
1) By Articulated Robots: 6-Axis Robots, 7-Axis Robots, Heavy Duty Articulated Robots _x000D_
2) By Cartesian Coordinate Robots: Linear Robots, Gantry Robots, Pick-and-Place Robots _x000D_
3) By Cylindrical-Coordinate Robots: Radial Arm Robots, Polar Coordinate Robots_x000D_
4) By Spherical Coordinate Robots: Polar Robots: Multi-axis Spherical Robots _x000D_
5) By Selective Compliance Assembly Robot Arm (SCARA) Robots: 4-Axis SCARA Robots, High-speed SCARA Robots_x000D_
6) By Other Types: Delta Robots, Collaborative Robots (Cobots), Parallel Robots (Platform Robots), Humanoid Robots_x000D_
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Which Top Companies are Driving Growth in the Industrial Robotics Market?_x000D_
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 _x000D_
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Which Regions Will Dominate the Industrial Robotics Market Through 2029?_x000D_
Asia-Pacific was the largest region in the industrial robotics market in 2024. 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._x000D_
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