The global industrial robotics market was valued at around US$ 16.5 Billion in 2022 and is expected to reach around US$ 20 Billion by 2027. An industrial robot is a type of mechanical equipment that is fed data and is programmed to execute activities linked to industry production automatically. Industrial robots play a vital role in automating manufacturing processes across different industries such as automotive, electronics and electrical, food and beverage, metal, and many others. They can perform different industrial tasks such as loading, packaging, labelling, product inspection, and shifting among others. Industrial robot increases productivity and profitability of organizations by eliminating labor-intensive activities with high degree of accuracy and efficiency. Moreover, they can work in hazardous environment such as high-pressure or vacuum chambers, and areas where there are explosions, infections, and radiation among others.
The demand for industrial robotics is anticipated to grow exponentially during the forecast period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety. The adoption of automation to ensure quality production and meet market demand, and the growing demand from SMEs in developing countries is fueling the growth of industrial robotics market globally. However, the high initial investment and maintenance cost of industrial robots, coupled with integration costs and the cost of peripherals, such as end effectors and vision systems, makes automation a costly investment for SMEs.
- In March 2023, LG Uplus announced a partnership by signing an MoU with Bigwave Robotics (South Korea), a leading operator of robot automation platforms, to strengthen its robot business.
- ABB Robotics announced supporting Renault Group by providing state-of-the-art robotics technology to help automate the electric vehicle (EV) manufacturer’s production network across several key markets.
- In October 2022, ABB launched its smallest-ever industrial robot, offering unique possibilities for faster, more flexible, and high-quality production of wearable intelligent gadgets.
- In June 2022, Epson introduced the GX Series SCARA Robots to deliver next-level performance and flexibility.
Industrial Robotics Segment Market - Key Takeaway
- The electronics industry surpassed the automotive industry in terms of annual robot installations in 2020 and held the largest market for industrial robotics in 2022.
- In the automotive industry, the growing adoption of electric vehicles (EVs) and the need for EV charging infrastructure is boosting the demand for robotics. Recently, ABB Robotics announced supporting Renault Group by providing state-of-the-art robotics technology to help automate the electric vehicle (EV) manufacturer’s production network across several key markets.
- Metal industry, the third largest market for industrial robotics, has witnessed an accelerated growth of industrial robotics adoption in recent years.
- Chemical, rubber, and plastics industry accounted for approx. 5% share of the industrial robotics market in 2022, followed by the food industry segment.
Industrial Robotics Application Market - Key Takeaway
- Handling is the most important application of industrial robots, as it can automate some of the most tedious, dull, and unsafe tasks in a production line and is one of the easiest ways to add automation.
- Assembly robots are used for lean industrial processes and can dramatically increase production speed and consistency.
- It is projected that the share of industrial robots for welding application will increase considerably during the forecast period, as utilization of industrial robots for welding is economical, and the welds are of an excellent quality.
- The leading cleanroom robot manufacturers such as, ABB, Yaskawa Electric Corp, and Kawasaki Heavy Industries are focusing their investments on technologically advanced, cost effective, and more secure products and solutions for various applications.
Industrial Robotics Regional Market - Key Takeaway
- Asia/Australia is the world’s largest and strongest growth market for industrial robots. In Asia, China has significantly expanded its leading position as the biggest market for industrial robots.
- Europe is the second largest market for industrial robots, followed by Americas at the third position.
- Robot installation counts in Germany, the largest European market and the only European one in the global top five, rose 2% in 2022.
- The United States is the largest American market and accounted for 67% of the robot installations in the Americas in 2022.
iGATE RESEARCH report titled “Global Industrial Robotics Market and Volume by Segment (Automotive Industry, Electrical/Electronics, Metal, Chemical, Rubber and Plastics, Food, Others, Unspecified), Application (Handling, Welding, Assembling, Cleanroom, Dispensing, Processing, others/Unspecified), Geographical Distribution, Recent Developments, and Key Players Robotics Division Sales Analysis - Forecast to 2027” provides a comprehensive assessment of the Industrial Robotics Market.
This 174 Page report with 67 Figures and 10 Tables has been analyzed from 10 viewpoints:
1. Global Industrial Robotics Market and Forecast (2012 - 2027)
2. Global Industrial Robotics Market Share and Forecast (2012 - 2027)
3. Global Industrial Robotics Volume and Forecast (2012 - 2027)
4. Global Industrial Robotics Market and Forecast - By Segment (2012 - 2027)
5. Global Industrial Robotics Volume and Forecast - By Segment (2012 - 2027)
6. Global Industrial Robotics Volume and Forecast - By Application (2015 - 2027)
7. Industrial Robotics Volume and Forecast - Region and Country Wise Distribution (2012 - 2027)
8. Key Player – Robotics Division Sales and SWOT Analysis (2010 - 2027)
9. Global Robotics Market – Recent Developments
10. Global Robotics Market - Growth Drivers and Challenges
Global Industrial Robotics Market and Volume Forecast – Segments Covered
1. Automotive Industry
2. Electrical/Electronics Industry
3. Metal Industry
4. Chemical, Rubber and Plastics Industry
5. Food Industry
6. Others Industry
7. Unspecified Industry
Global Industrial Robotics Volume and Forecast - Applications Covered
- All others/Unspecified Application
Industrial Robotics Volume and Forecast - Region and Country Wise Distribution
- United States
- Rest of South America
- Republic of Korea
- Other Asia/Australia
- Central/Eastern Europe
- United Kingdom
- Other Europe
5. Rest of the World (ROW)
Global Robotics Market - Key Players Robotics Division Sales and SWOT Analysis
1. KUKA AG
2. Adept Technology (Acquired by OMRON)
3. iRobot Corporation
4. Intuitive Surgical
6. Yaskawa Electric Corporation
8. FANUC Corporation
9. DAIHEN Corporation
10. Mitsubishi Electric Corporation
11. DENSO Corporation
12. Seiko Epson Corporation
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.