Articulated Robots Market Size, Share, Growth Analysis, By Payload(Up to 16.00 kg, 16.01–60.00 kg, 60.01 – 225.00 Kg, More Than 225.00 Kg), By Function(Handling, Welding, Dispensing, Assembly), By Industry(Automotive, Electrical and Electronics, Metal and Machinery, Food and Beverages), By Region - Industry Forecast 2024-2031

Report ID: SQMIG55A2045 | Region: Global | Published Date: April, 2024
Pages: 183 | Tables: 98 | Figures: 74

Articulated Robots Market News

In August 2022, ABB expanded the range of large robots for complex industrial applications, introducing two new classes of robots, the IRB 5710 and 5720. These robots have increased productivity and productivity. These are electric vehicles (EVs) manufacturing, foundry, forging, rubber, plastic, more time will also be given for activities such as metal fabrication. Enhancements include increased speed, accuracy, flexibility and more robust design with integrated system lines.

In December 2022, EVS TECH CO.LTD of China unveiled a unique modeling robot, designed for explosion-prone environments to ensure the safety of personnel and equipment

In September 2021, a U.S.-based company manufacturer of industrial components, Honeywell unveiled new robotic technology aimed at automating the manual removal of pallets in warehouses and distribution centers.

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Articulated Robots Market size was valued at USD 13.44 Billion in 2022 and is poised to grow from USD 16.81 Billion in 2023 to USD 80.31 Billion by 2031, growing at a CAGR of 25.04% in the forecast period (2024-2031).

The articulated robots market is highly dynamic and constantly evolving; As technology improves, more and more innovative companies enter the market. Apart from the latest entrant, industry leaders are constantly trying to change the capabilities of robots to increase productivity and separate them from other competitors. 'ABB (Switzerland)', 'FANUC Corporation (Japan)', 'OMRON Corporation (Japan)', 'Toshiba Corporation (Japan)', 'YASKAWA ELECTRIC CORPORATION. (Japan)', 'Universal Robots (Denmark)', 'Rockwell Automation, Inc. (U.S.)', 'Robert Bosch GmbH (Germany)', 'Mitsubishi Electric Corporation (Japan)', 'Panasonic Corporation (Japan)', 'NACHI-FUJIKOSHI CORP. (Japan)', 'Seiko Epson Corporation (Japan)', 'KUKA AG (Germany)', 'DENSO CORPORATION (Japan)', 'Aurotek Corporation (Taiwan)', 'Yamaha Motor Co. Ltd (Japan)', 'DAIHEN Corporation (Japan)', 'Sepro Group (Germany)'

The growing demand for industrial robots is anticipated to boost the articulated robot market during the forecast period. Industrial robots are machines or mechanical systems programmed to autonomously perform production-related tasks in an industrial environment. For example, according to data released by 'The International Federation of Robotics' for 2022, the actual installation of industrial robots reached about 4.35 million, an increase of 13 percent between 2020 and 2021. It is expected to reach around 5.18 million units by 2024. So, the growing demand for industrial robots is likely to propel the market.

Technological Advancements in the Articulated Robot: Rapid technological change is a key growing factor in the integrated robotics market. To gain a competitive edge in the market, key market players are focusing on the developments in AI-enabled robotics, self-healing robotics, cloud robotics, collaborative robotics, marketing of drones, customized robots such as, appliances used in the U.S., consumer electronics, automobiles. OMRON Corporation, a manufacturer of electronics, manufacturing plants, ticketing machines and medical devices, launched the HD-1500 autonomous mobile robot in 2020. The robot is large enough to carry up to 1,500 kilograms (about 3306.93 lb) of essential goods. Thus, the increasing technological advancements in the audio robot market present lucrative opportunities for market growth.

North America is expected to witness strong growth during the forecast period. Due to the increase in automation and widespread adoption of automation in manufacturing. Today’s manufacturing plants in North America rely on innovative technologies and processes to produce high-quality products at faster and more cost-effective speeds. They are combining more sophisticated software and hardware to provide their manufacturing processes have been enhanced to thrive in the current competitive environment. Industrial robots, such as artificial robots, offer many tangible benefits to manufacturers in North America, including lower operating costs and higher productivity.

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