USD 26.66 billion
Industrial Robots Market Size, Share, Growth Analysis, By Application(Handling [Pick & Place, Material Handling, And Packaging & Palletizing], Assembling & Disassembling), By Component(Robot Arm, Robot Accessories [End Effector {Welding Gun, And Grippers (Mechanical, Electric), By Payload(Up to 16kg, 16.01-60 kg, 60.1-225 kg, More than 225 kg), By Type(Traditional robots [Articulated Robots, Cartesian Robots, SCARA Robots, Parallel Robots), By End Use(Automotive, Electrical, Metal/Heavy Machinery, Chemical), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2134 |
Region:
Global |
Published Date: August, 2024
Pages:
202
|Tables:
69
|Figures:
77
Industrial Robots Market Insights
Global Industrial Robots Market size was valued at USD 23.97 billion in 2022 and is poised to grow from USD 26.66 billion in 2023 to USD 62.42 billion by 2031, growing at a CAGR of 11.22% during the forecast period (2024-2031).
The usage of robotics and smart manufacturing in the industrial sector is being driven by the emerging trend of Industry 4.0. To meet the rising demand for industrial robotics, producers are increasing their facilities. For instance, ABB Ltd. established a new, massive robotics complex for production and research in Shanghai, China, in December 2022. Launching the 67,000 square metre factories required an investment from the corporation of over USD 150 million. Given the cost-benefit ratio, the growing trend towards electric cars among new car owners is nevertheless encouraging. The use of automated robotic systems by automakers for the high-volume production of vehicles is anticipated to have a substantial impact on the industrial robotics sector. For instance, Tesla Inc. received Kuka AG's industrial arm robots in December 2022 to assist with the company's mass production of electric vehicles. The use of automated robotic systems by other significant automakers is similar, fuelling the demand for industrial robots.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Handling
Fastest Growth
Processing
Growth Rate
11.22% CAGR
Global Industrial Robots Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Industrial Robots Market Segmental Analysis
The global industrial robots market is segmented on the basis of application, component, payload, type, end use and region. By application, the market is segmented into Handling [pick & place, material handling, and packaging & palletizing], Assembling & Disassembling, Welding & Soldering, Cleanroom, Dispensing [gluing, painting, and food dispensing], Processing [grinding & polishing, milling, and cutting], and Others [inspection & quality testing, and die-casting & moulding]. By component, the market is segmented into Robot arm, robot accessories [end effector {welding gun, and grippers (mechanical, electric, and magnetic), tool changers, clamps, suction cup, and others (Deburring tools, Milling tools, Soldering tools, Painting tools, Screwdrivers)}, controllers, drive units {hydraulic drive, electric drive, and pneumatic drive}vision systems, sensors, power supply, and others] additional robotic hardware [safety fencing, fixtures, and conveyors], system engineering, and software & programming. By payload, the market is segmented into Up to 16kg, 16.01-60 kg, 60.1-225 kg, and more than 225 kg. By type, the market is segmented into Traditional robots [Articulated Robots, Cartesian Robots, SCARA Robots, Parallel Robots, Cylindrical Robots, and Others {Spherical robots and swing arm robots}], and Collaborative robots. By end use, the market is segmented into Automotive, Electrical, Metal/Heavy Machinery, Chemical, Rubber & Plastics, Food & beverages, Precision engineering & optics, pharmaceuticals & cosmetics, oil & gas and others . By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Industrial Robots Market Analysis by Application
In 2024, the category for handling applications held a dominant market share and generated more than 40% of the total revenue. The rise in popularity of online shopping and speedy deliveries is blamed for the segment's expansion. Amazon.com, Inc., for instance, introduced an outdoor autonomous robot in June 2022 for handling and transporting products inside of company buildings. The error rate is greatly decreased by the robots, who can handle materials without any assistance from humans. Handling robots are further used by sectors with a quick pace of development, such the automotive and electrical industries, to swiftly and safely move large or small goods on the factory floor.
Over the projected period of 2024 to 2031, it is expected that the processing application sector would expand at the quickest CAGR of over 20%. The segment's expansion can be due to the low error rates in its application in cutting, painting, and other procedures. Due to their predetermined programming, these kinds of robots are becoming more popular because they can work continuously. Furthermore, robots can work in places where human labor is impractical, such as tiny areas.
Industrial Robots Market Analysis by End Use
Over 25% of the market was accounted for by the electrical/electronic end-use segment in 2024. The segment was dominant because it was capable of carrying out a variety of operations with great reproducibility, including dispensing, insertion, labelling, and screw driving. Industrial robots will become more widely used as a result of advancements, as well as increasing research and development activities by market participants to raise productivity, cost-efficiency, and reduced production overheads. The market's escalating competitiveness as a result of the appearance of numerous technology disruptors is anticipated to improve the segment outlook over the forecast period.
The end-use segment for chemicals, rubber, and plastics is anticipated to increase at a CAGR of over 12% over the projection period. It is necessary to maintain consistency in duties like measuring and testing, which has contributed to the segment's growth. Furthermore, dangerous chemicals can be handled by robotics without endangering human health.
Global Industrial Robots Market By Application
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Industrial Robots Market Regional Insights
In 2024, the Asia Pacific region controlled the industrial robot’s market and contributed more than 65% of the market. During the foreseeable term as well, the region is anticipated to continue to rule. Many industries and enterprises that use industrial robots for manufacturing operations are found in the Asia Pacific region. Additionally, there is substantial room for growth for the local industry due to the rising trend towards automation, artificial intelligence, and other cutting-edge technology.
Over the course of the projected period, Middle East & Africa is expected to experience the highest CAGR of over 20%. The expansion of regional government-led industrial programmes is blamed for the market expansion. For instance, the Dubai Crown Prince announced The Dubai robots and Automation Programme in September 2022 to advance robots in the nation. The industrial and logistical sectors will receive some 200,000 robots through the programme to boost their production capacity.
Global Industrial Robots Market By Region
- Largest
- Fastest
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Industrial Robots Market Dynamics
Industrial Robots Market Drivers
Need for Improved Operational Efficiency
- Industrial robots offer higher speed, precision, and consistency compared to human workers. They can work continuously without breaks and do not experience fatigue, resulting in improved production efficiency. With the rising demand for faster and more efficient production processes, industrial robots are being deployed to streamline operations and optimize output.
Growing Emphasis on Workplace Safety
- Industrial robots are designed to work in hazardous or challenging environments, reducing the risk of injuries to human workers. This focus on workplace safety is a significant driver in industries where worker safety is a priority, such as manufacturing, construction, and chemical plants. Industrial robots can handle tasks involving heavy lifting, hazardous materials, or high temperatures, improving worker safety and well-being.
Industrial Robots Market Restraints
Limited Capability in Complex Tasks
- While industrial robots excel in performing repetitive and precise tasks, they may have limitations in handling complex tasks that require human dexterity, decision-making, or adaptability. Industries that involve intricate assembly, intricate manipulation, or delicate tasks may find it challenging to fully automate these processes with existing industrial robots.
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Industrial Robots Market Competitive Landscape
The major companies in the market utilize tactics such as alliances, purchases, ventures, inventions, R&D, and geographic expansions to strengthen their positions in the market and the industry. In order to remain competitive, businesses are putting more effort into enhancing their product offerings to better meet users' evolving needs.
Industrial Robots Market Top Player’s Company Profiles
- ABB (Switzerland)
- FANUC Corporation (Japan)
- Yaskawa Electric Corporation (Japan)
- KUKA AG (Germany)
- Kawasaki Heavy Industries Ltd. (Japan)
- Universal Robots A/S (Denmark)
- Mitsubishi Electric Corporation (Japan)
- Denso Corporation (Japan)
- Comau S.p.A (Italy)
- Nachi-Fujikoshi Corporation (Japan)
- Epson Robots (Japan)
- Staubli International AG (Switzerland)
- Omron Corporation (Japan)
- Hanwha Robotics (South Korea)
- FANUC Robotics America Inc. (United States)
- Panasonic Corporation (Japan)
- Toshiba Machine Co., Ltd. (Japan)
- Hyundai Robotics (South Korea)
- KAWASAKI Robotics GmbH (Germany)
- Aurotek Corporation (Taiwan)
- Siasun Robot & Automation Co., Ltd. (China)
Industrial Robots Market Recent Developments
-
In 2024, Toyota Material Handling Europe introduced the CDI120, an automated pallet carrier specifically designed for warehouse applications. The CDI120 offers a new solution for the horizontal transport of goods and integrates seamlessly with Toyota Material Handling’s existing lineup of vehicles, which includes pallet trucks, stackers, forklifts, and reach trucks.
-
In 2024, a significant trend in industrial robotics is human-machine collaboration, which is fueling growth in the sector. Collaborative robots, or "cobots," are designed to safely interact with humans within shared workspaces and are increasingly being adopted across various industries.
-
In May 2023, ABB, a global leader in industrial robotics, introduced the ABB SafeMove2, a collaborative robot aimed at enhancing safety and efficiency in industrial operations. Other recent additions to the collaborative robot market include the CRX 10-iA from FANUC, released in 2020, and the EZ small robot from Nachi-Fujikoshi Corp, launched in 2021.
Industrial Robots Key Market Trends
Integration of Vision Systems
- Vision systems play a crucial role in industrial robotics by providing robots with the ability to perceive and understand their surroundings. Vision-guided robots can perform tasks such as object recognition, quality inspection, and precise manipulation. The advancements in camera technology, image processing, and deep learning algorithms have significantly enhanced the capabilities of vision systems in industrial robots.
Industrial Robots Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global industrial robots' market has experienced significant growth over the years, driven by the increasing adoption of automation across various industries. Industrial robots are programmable machines designed to carry out tasks with precision, speed, and efficiency, thereby enhancing productivity and reducing human error. The industrial robot’s market is expected to continue its growth trajectory in the coming years. The demand for automation, increasing labour costs, and advancements in robotics technology are likely to drive market expansion. The adoption of robots in emerging industries such as healthcare and agriculture are also expected to contribute to market growth. The global industrial robots market is dynamic and subject to change due to various factors such as economic conditions, technological advancements, and industry trends.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 23.97 billion |
| Market size value in 2031 | USD 62.42 billion |
| Growth Rate | 11.22% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Industrial Robots Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Industrial Robots Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Industrial Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Robots Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Robots Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industrial Robots Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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