Global Industrial Robots Market Analysis By Application (Handling, Assembling & disassembling, Welding & Soldering, Cleanroom, Dispensing, Processing, Others), By Type (Automotive, Electrical/Electronics, Metal/Heavy Machinery, Chemical, Rubber, & Plastics, Food, Others) & Forecast
- PUBLISHED ON
- 4/28/2023
- NO OF PAGES
- 261
- CATEGORY
- Machinery & Heavy Industry
The global Industrial Robots market was valued at USD 27.87 billion in 2022 and expected to grow at a CAGR of 10.6% during the forecast period.
Cartesian robots: Also known as gantry robots, these robots use three linear axes to move in a straight line and perform tasks such as material handling, assembly, and packaging.
SCARA robots: These robots have three or four axes and are designed for tasks such as assembly and material handling.
Articulated robots: These robots have several rotary joints and can move in multiple directions, making them ideal for tasks such as welding, painting, and material handling.
Collaborative robots: Also known as cobots, these robots are designed to work alongside humans in manufacturing processes, allowing for more efficient and flexible operations.
The use of industrial robots offers several benefits, including:
Increased Efficiency: Industrial robots can work continuously for long periods without breaks, resulting in increased efficiency and productivity. Improved Quality: Robots can perform tasks with a high degree of accuracy and consistency, resulting in improved quality of products and reduced waste.
Enhanced Safety: By automating hazardous and repetitive tasks, robots can help reduce workplace injuries and ensure worker safety.
Cost Savings: While the initial investment in industrial robots can be high, over time, the use of robots can lead to significant cost savings through increased efficiency and reduced labor costs.
Overall, industrial robots are playing an increasingly important role in manufacturing processes, offering benefits such as increased efficiency, improved quality, enhanced safety, and cost savings. As technology advances, the capabilities of industrial robots are expected to expand, leading to wider adoption in a range of industries.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 27.87 Billion |
Market Forecast in 2032 | USD 39.34 Billion |
CAGR % 2023-2031 | 10.6% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2031 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | By Type, By Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | ABB Ltd., Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., Comau SpA, KUKA AG, Fanuc Corporation, Denso Corporation, Kawasaki Heavy Industries, Ltd., Omron Corporation, Others |
Covid-19 Impact:
Supply Chain Disruptions: The pandemic has disrupted global supply chains, leading to shortages of components and delayed deliveries of industrial robots. This has impacted the production capacity of robot manufacturers and has led to supply chain challenges for some end-users.
Increased Demand for Automation: The need for social distancing measures and the closure of manufacturing facilities has led to increased demand for automation solutions, including industrial robots. This has driven the adoption of robots in industries such as food and beverage, healthcare, and logistics.
Shifts in Demand: The pandemic has caused shifts in demand for certain types of industrial robots. For example, there has been increased demand for robots used in medical equipment manufacturing and e-commerce fulfillment centers, while demand for robots used in automotive and aerospace manufacturing has decreased.
Economic Uncertainty: The pandemic has caused economic uncertainty, leading some businesses to postpone or cancel investments in automation solutions. This has impacted the demand for industrial robots in some industries.
Reshoring: The pandemic has led to increased interest in reshoring manufacturing operations, which could lead to greater adoption of industrial robots in some regions as companies seek to reduce their reliance on overseas suppliers.
Overall, the COVID-19 pandemic has had a mixed impact on the industrial robot market, with some challenges and opportunities for robot manufacturers and end-users. While the long-term impact of the pandemic on the industrial robot market is still unclear, the need for automation solutions is expected to continue driving demand for industrial robots in many industries.
Market Dynamics:
Drivers:
Increased Efficiency: Industrial robots can work continuously for long periods without breaks, resulting in increased efficiency and productivity. This is a significant driving factor for businesses seeking to increase their manufacturing capacity and output.
Improved Quality: Robots can perform tasks with a high degree of accuracy and consistency, resulting in improved quality of products and reduced waste. This is another key factor driving the adoption of industrial robots in manufacturing processes.
Enhanced Safety: By automating hazardous and repetitive tasks, robots can help reduce workplace injuries and ensure worker safety. This is a critical factor in industries such as automotive and aerospace manufacturing, where worker safety is paramount.
Cost Savings: While the initial investment in industrial robots can be high, over time, the use of robots can lead to significant cost savings through increased efficiency and reduced labor costs. This is a significant factor driving the adoption of industrial robots in industries seeking to improve their bottom line.
Technological Advancements: The development of new technologies, such as machine learning, artificial intelligence, and advanced sensors, is expanding the capabilities of industrial robots. This is driving demand for robots that can perform more complex tasks and operate with greater autonomy.
Increasing Demand for Customization: As consumers demand more customized products, industrial robots are becoming increasingly important in enabling manufacturers to meet this demand. Robots can perform tasks such as assembly, packaging, and labeling with greater speed and accuracy than human workers, making them ideal for customized production.
Overall, the driving factors for the industrial robot market are centered around improving efficiency, quality, safety, and cost savings, as well as technological advancements and increasing demand for customization. These factors are expected to continue driving the growth of the industrial robot market in the coming years.
Restraints:
High Initial Investment: The cost of purchasing and implementing industrial robots can be high, making it a significant investment for many businesses. This could be a restraining factor for small and medium-sized businesses that may not have the financial resources to invest in robots.
Complexity of Implementation: Implementing industrial robots requires specialized expertise and can be complex. This could be a restraining factor for businesses that lack the technical expertise or resources to integrate robots into their manufacturing processes.
Lack of Flexibility: Industrial robots are designed to perform specific tasks and may not be easily adaptable to changes in production needs. This could be a restraining factor for businesses that require flexibility in their manufacturing processes to meet changing market demands.
Concerns about Job Displacement: The increasing adoption of industrial robots has led to concerns about job displacement. This could be a restraining factor for businesses that are concerned about the impact of automation on their workforce and may be hesitant to invest in robots due to potential negative impacts on employment.
Regulatory Constraints: Industrial robots must comply with safety regulations, and compliance can be a restraining factor for businesses that must ensure they meet safety standards before implementing robots in their manufacturing processes.
Lack of Awareness: Many businesses may not be aware of the benefits of industrial robots or may not understand how to integrate them into their manufacturing processes. This lack of awareness could be a restraining factor for the growth of the industrial robot market.
Overall, while there are many driving factors for the industrial robot market, there are also several restraining factors that could impact its growth. These factors include the high initial investment and complexity of implementation, lack of flexibility, concerns about job displacement, regulatory constraints, and lack of awareness.
Regional Analysis:
Asia-Pacific: Asia-Pacific is the largest market for industrial robots, accounting for the majority of global sales. The region is dominated by China, which is the world's largest market for industrial robots. Other countries in the region, such as Japan, South Korea, and Taiwan, are also significant markets for industrial robots. The region is expected to continue to dominate the market in the coming years due to its large and growing manufacturing base.
Europe: Europe is a significant market for industrial robots, with Germany being the largest market in the region. The region has a well-established manufacturing base and is home to several leading manufacturers of industrial robots. The region is expected to continue to grow due to increasing demand for automation and the adoption of Industry 4.0.
North America: North America is a significant market for industrial robots, with the United States being the largest market in the region. The region has a large and diverse manufacturing base, with significant demand for industrial robots in industries such as automotive, aerospace, and electronics. The region is expected to continue to grow due to increasing demand for automation and the adoption of advanced technologies.
Rest of the World: The rest of the world, including Latin America, the Middle East, and Africa, is a growing market for industrial robots. The region is expected to experience significant growth in the coming years due to increasing industrialization and the adoption of automation technologies.
Overall, the industrial robot market is a global market, with significant growth expected in all regions. The market is driven by factors such as increasing efficiency, improved quality, enhanced safety, and cost savings, as well as technological advancements and increasing demand for customization. While there are restraining factors such as high initial investment, lack of flexibility, concerns about job displacement, regulatory constraints, and lack of awareness, the market is expected to continue to grow in the coming years.
Competitive Landscape:
The global Industrial Robots market is highly competitive and fragmented with the presence of several players. These companies are constantly focusing on new product development, partnerships, collaborations, and mergers and acquisitions to maintain their market position and expand their geographical presence.
• ABB Ltd.
• Yaskawa Electric Corporation
• Mitsubishi Electric Corporation
• Nachi-Fujikoshi Corp.
• Comau SpA
• KUKA AG
• Fanuc Corporation
• Denso Corporation
• Kawasaki Heavy Industries, Ltd.
• Omron Corporation
• Others
Segments
By Application
• Handling
• Assembling & disassembling
• Welding & Soldering
• Cleanroom
• Dispensing
• Processing
• Others
By Type
• Automotive
• Electrical/Electronics
• Metal/Heavy Machinery
• Chemical, Rubber, & Plastics
• Food
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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