Industrial Robots Market: Size and Growth Projections by 2024

The global industrial robots market size was valued at USD 16.78 billion in 2022 and is projected to grow from USD 18.19 billion in 2023 to USD 41.02 billion by 2030, exhibiting a CAGR of 12.3% during the forecast period. Asia Pacific dominated the industrial robots market with a market share of 48.98% in 2022.

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Industry developments of industrial robots market:

• Compau SpA introduced a new Racer-5 SE industrial robot. It is used in vital industries such as pharmaceutical, health & beauty, food & beverages industry, and electronics sectors. It improves the production capacity, the productivity of operations, and good quality.
• ABB introduced a new FlexPicker IRB 365 delta robot specifically designed for packing and picking applications with a capacity of 1.5 KG. These type of robots are used in packaging lightweight products such as peppers, candies, small bottles, and chocolates.
• Mitsubishi Electric Corporation introduced an artificial intelligence (AI)-enabled industrial robots for food processing, and manufacturing sectors. It is used for improving the productivity of manufacturing operations. Additionally, these new systems are largely adopted in manufacturing sectors, and it reduces the timeline by the range of 5 hours to 60 hours.
• Nachi-Fujikoshi Corp launched a new series of small cooperative robot named as “EZ” small robot. It is specifically designed for industries such as electronic, electrical, automotive, and general industrial machinery. It has features such as smart cable routing, having load capacity of 6 KGs, high speed, long durability, and highly precise operations.
• FANUC introduced the newest collaborative robot, the CRX 10-iA. The new robot can perform highly functional tasks under a flip motion to perform repetitive tasks.
• FANUC and BMW AG signed a framework agreement wherein FANUC will supply 3,500 robots for new production lines and plants. These robots will be deployed in developing the existing and future generations of BMW models.

Top Companies of industrial robots market:

• ABB (Switzerland)
• YASKAWA ELECTRIC CORPORATION (Japan)
• Mitsubishi Electric Corporation (Japan)
• NACHI-FUJIKOSHI CORP. (Japan)
• Comau SpA (Italy)
• KUKA AG (Germany)
• FANUC CORPORATION (Japan)
• DENSO CORPORATION (Japan)
• Kawasaki Heavy Industries, Ltd. (Japan)
• Omron Corporation (Japan)

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Industrial Robots Market Segmentation

Industrial Robots Market Share, Size & Industry Analysis, By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel, and Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, and Others), By Industry (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, and Others), and Regional Forecast Between, 2023-2030

Reasons to buy this report:

The present state of the market, trends, growth areas, and competitive dynamics in the industrial robots market are all thoroughly examined in this report. It helps companies to see areas for expansion and improvement while pointing out possible difficulties and dangers. The report’s evaluation of product portfolios and business segments helps stakeholders make better-informed investments and market strategies.

Developing successful success strategies in the industrial robots market can be facilitated and decision-making greatly enhanced by having a solid understanding of the industry dynamics described in the report. All things considered, this report is a great resource for anyone looking for in-depth knowledge about this quickly evolving industry.

Regional Atributes:

• North America (By Robot Type, By Application, By Industry, and By Country)
  • U.S. (By Robot Type)
  • Canada (By Robot Type)
• Europe (By Robot Type, By Application, By Industry, and By Country)
  • Germany (By Robot Type)
  • U.K. (By Robot Type)
  • France (By Robot Type)
  • Italy (By Robot Type)
  • Rest of Europe
• Asia Pacific (By Robot Type, By Application, By Industry, and By Country)
  • China (By Robot Type)
  • Japan (By Robot Type)
  • India (By Robot Type)
  • Southeast Asia (By Robot Type)
  • Rest of Asia Pacific
• Middle East & Africa (By Robot Type, By Application, By Industry, and By Country)
  • GCC (By Robot Type)
  • South Africa (By Robot Type)
  • Rest of the Middle East & Africa
• Latin America (By Robot Type, By Application, By Industry, and By Country)
  • Brazil (By Robot Type)
  • Mexico (By Robot Type)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Industrial Robots Market Drivers and restrains:

• Driver: Increasing Demand for AutomationThe rising need for automation in manufacturing and industrial processes drives the adoption of industrial robots to enhance efficiency, precision, and productivity while reducing human error.
• Driver: Technological AdvancementsInnovations in robotics technology, such as improved sensors, AI, and machine learning, enhance the capabilities and versatility of industrial robots, contributing to their widespread use in various applications.
• Driver: Growth in E-Commerce and Consumer GoodsThe expansion of e-commerce and the consumer goods sector increases the need for automated solutions to handle high volumes of orders, packaging, and sorting tasks, boosting the demand for industrial robots.
• Restraint: High Initial InvestmentThe significant upfront costs associated with purchasing and installing industrial robots can be a barrier for smaller companies and manufacturers with limited budgets.
• Restraint: Complexity of IntegrationIntegrating industrial robots into existing production systems can be complex and time-consuming, requiring specialized expertise and potentially causing disruptions to ongoing operations.

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