The industrial robotics market growth outlook is strongly positive with significant growth potential for robotics in the automotive and electrical and electronics industries. There is mounting pressure from end user industries globally, however, to further reduce prices, improve the features, efficiency, operability of robotics and maximize return on investments. At the same time, increasing investment in the modernization of production facilities in emerging markets is contributing to the growth of the market.
The industrial robotics market reached a value of nearly REDACTED in 2018 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED to nearly REDACTED by 2023.
The market for industrial robotics is fragmented. Major players in the market are FANUC Corp., Yaskawa Electric Corp., ABB Group, KUKA AG, and Kawasaki Heavy Industries, Ltd.
The motor vehicle manufacturing segment accounted for the largest share of the industrial robotics market in 2018 at REDACTED. The highest growth is projected to come from the electrical and electronics manufacturing segment, which is forecast to grow at a CAGR of REDACTED. Major factors for this growth include rapidly increasing demand for smart phones, televisions and other electrical and electronic products.
Asia Pacific is the largest region in the industrial robotics market, accounting for REDACTED of the global total. It was followed by North America and Western Europe. Going forward, the fastest growth in the industrial robotics market is forecast for Eastern Europe, where it is expected to grow at a CAGR of REDACTED, followed by Asia Pacific which at a CAGR of REDACTED.
China is the largest country in terms of value in the industrial robotics market. Russia and China are forecast to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
The market is challenged by restraints such as High investment costs, rising raw material prices due to higher import tariffs and safety concerns.
This research report categorizes the industrial robotics market by type. Product types include Motor Vehicles, electrical and electronics manufacturing, machinery manufacturing plastics and rubber products manufacturing, food and beverages and others.
- 87 data tables
- A broad overview of the global markets for industrial robotics that serve different purposes in industry
- Analyses of the global market trends with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Country specific data and analysis for United States, Canada, Mexico, Japan, China, India, France, Germany, U.K., Italy, Spain and Middle East and Africa
- International regulations for effective usage of industrial robotics
- Assessment of the technological advancements, safety regulations, current trends and impact analysis that affect the global market
- Company profiles of the major manufacturers and suppliers of industrial robotics, including ABB Group, Fanuc Corp., Kawasaki Heavy Industries, Ltd., Kuka AG and Yaskawa Electric Corp.