Share on

Global Industrial Robotics Market Segmentation By Type (Articulated, Cartesian, SCARA, Cylindrical, Others), By End-user Industry (Automotive, Electrical & Electronics, Chemical Rubber & Plastics, Machinery, Food & Beverages, Others), and Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) and – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2023 – 2028)

Published: March, 2023
ID: 8908
Pages: 145
Formats: report pdf report excel report power bi report ppt

Industrial Robotics Market Size and Forecast (2023 - 2028)

The Global Industrial Robotics Market size is predicted to grow at a CAGR of 11.7 percent from 2023 to 2028, reaching USD 76.3 billion by 2028.

Industrial Robotics Market

Industrial Robotics Market Scenario:

An industrial robot is mechanical equipment that is programmed to execute activities connected to industry production automatically. These robots can be reprogrammed, and the program may be altered as many times as needed, depending on the application. Industrial robots aid in improving productivity while lowering costs and generating high-quality goods in automation applications. Drive, end-effector, robotic manipulators, sensors, and controls make up the majority of industrial robots. The robotic controller is the robot's brain that assists in issuing commands. Microphones and cameras in robot sensors keep the robot aware of the industrial surroundings. The robotic manipulator is the robot's arm that assists it in moving and positioning, while the end effectors assist in interacting with the workpieces. Collaborative, cartesian, SCARA, cylindrical, and articulated robots are five types of robots used in industry. The degree of freedom of movement, size requirements, and payload capacity all influence the type of robot chosen. Industrial robots aid in the optimization of production processes for a healthy and efficient outcome. These features further increases the Industrial Robotics Market growth.

Recent Developments in the Industrial Robotics Industry:

  • Yaskawa Electric Corporation purchased more shares of Doolim-Yaskawa Co., Ltd. in January 2022 to expand its sealing system and robotic painting businesses.
  • ABB announced the purchase of ASTI Mobile Robotics Group (ASTI) in July 2021, expanding its robotics and automation capabilities and becoming the first to offer a comprehensive profile for the next generation of flexible automation.

Industrial Robotics Market Growth:

The increased use of automation in the automobile production process, as well as the integration of AI and digitalization, are driving up demand for industrial robots in the industry. 

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2022 – 2028

Base Year

2022

Forecast Period

2023 - 2028

Segments Covered

By Type, End-user Industry & Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Ericsson, Kuka AG, Kawasaki Heavy Industries Ltd, Fanuc Corporatio, ABB Ltd, Denso Corporatio, Mitsubishi Electric Corporation, Rockwell Automation, Inc, Bosch GmbH, Yaskawa Electric Corporation, Toshiba Corporation

Industrial Robotics Market Drivers:

The primary driver fueling the global industrial robotics market is the government initiatives and public–private partnerships to lessen the impact of COVID-19. The Advanced Robotics for Manufacturing (ARM) Institute is a public-private collaboration that aims to boost American manufacturers' competitiveness by cooperating and creating new robotics solutions. It is funded by the US Department of Defense. The institution has requested speedy and high-impact robotics projects to provide the quick response required for the COVID-19 pandemic. The Indian government has granted a Rs 1.45 trillion incentive package by extending the production-linked incentive (PLI) plan to eleven industrial sectors, with a particular focus on the car and vehicle component industries. As part of its China exit program, the Japanese government has set aside USD 221 million in subsidies for Japanese enterprises to relocate to India and other locations. The French government has provided financial assistance to businesses by guaranteeing the repayment of certain qualifying loans up to USD 358 billion under its State Guarantee scheme. To combat the consequences of the COVID-19 outbreak, Indonesia launched two stimulus packages. The first package, worth $725 million, was announced in February 2020, while the second, at $8 billion, was announced in March 2020. The second stimulus package was introduced to safeguard the economy and small and medium-sized businesses (SMEs), notably in the manufacturing sector.

Industrial Robotics Market Restraints:

A robotic automation project can be challenging, particularly for companies that have never completed one before. Not only is a large financial investment necessary for the robot itself, but also for its integration, programming, and maintenance. A bespoke integration may be necessary for some circumstances, which will increase the total expenses. Due to a shortage of space and infrastructure, robot deployment may not always be practicable. Because SMEs are often involved in low-volume production, obtaining a return on investment (ROI) can be challenging.

 The difficulty is demonstrated by the presence of enterprises with seasonal or variable production schedules. Fast-changing consumer tastes will necessitate regular robot retraining since items are changed on average once a year. Over-automation can sometimes be problematic. In compared to its Japanese competitors, the US automobile industry began with a higher level of mechanization. Cost overruns arose when product lines and consumer demand altered over time, and many robots became obsolete or obsolete. A company's operating costs may not always be reduced by replacing human personnel.

A collaborative robot system can range in price from $3,000 to $100,000. A commercial robotic system might cost anything from $15,000 to $150,000. Automation is an expensive investment for SMEs, especially when they are involved in low-volume manufacturing, due to the cost of industrial robots, integration fees, and peripherals such as end-effectors and vision systems. Therefore, these factors further decreases the global Industrial Robotics Market size.

Industrial Robotics Market Segmentation Analysis:

By Type:

  • Articulated
  • Cartesian
  • SCARA
  • Cylindrical
  • Others

The articulated segment led the Industrial Robotics Market in terms of revenue in 2020. However, the cylindrical segment is predicted to develop at the fastest CAGR throughout the forecast period. The electrical and electronics category led the market in 2020, according to the industry, while the food and drinks segment is predicted to grow at the fastest rate in the near future. In terms of revenue, the materials handling category dominated the market in 2020; however, the painting & dispensing sector is expected to grow at the fastest rate during the forecast period. Asia-Pacific generated the most revenue in 2020, while LAMEA is expected to grow at the fastest rate over the projection period.

By End-user Industry:

  • Automotive
  • Electrical & Electronics
  • Chemical Rubber & Plastics
  • Machinery
  • Food & Beverages
  • Others

The fastest-growing category is electrical and electronics, with growth expected to accelerate throughout the evaluation period in  the Industrial Robotics Market. Furthermore, the automobile sector has been vying to become the largest end-user of Industrial Robots. The hardware sector has embraced the use of mechanical robots since quality and accuracy are two of the most important aspects of an electronic production facility. The rising range of activities that robots can accomplish, notably in the assembly of electronic equipment and components, is one of the main reasons why electrical and electronic is the largest market for Industrial Robots.

Industrial Robotics Market Regional Analysis:

Europe, North America, Asia Pacific, Latin America, the Middle East, and Africa are the five with a market share of 58 percent in 2019.

The Industrial Robotics market was dominated by Asia Pacific, followed by Europe and North America. Market development is likely to be fueled by high and early adoption of breakthrough technologies in countries like India and China. Because of its strong financial position, it can make major expenditures in cutting-edge equipment and technology to maintain smooth company operations. The Chinese government's "Made in China 2025" plan aims to increase the competitiveness of Chinese businesses through automation.

North America is anticipated to hold the steady CAGR in the global industrial robotics market during the forecast period because of the introduction of industry 4.0.

On the other hand, Europe tries to exhibit significant growth in the global industrial robotics market owing to the manufacturers, who are working on the collaborative robots.

Key Players in the Market:

Major Key Players in the Global Industrial Robotics Market are

Please wait. . . . Your request is being processed

FAQ's

What can be the total Industrial Robotics market value?

The global Industrial Robotics market was estimated at USD 37,876.0 million in 2022 and is going to reach USD 116848.7 million by 2028.

Name any three Industrial Robotics market key players?

Kawasaki Heavy Industries Ltd., Denso Corporation, and Kuka AG are the three Industrial Robotics key players.

What is the major effecting factor in the Industrial Robotics market?

The increased use of automation in the automobile production process, as well as the integration of AI and digitalization, are driving up demand for industrial robots in the industry.

What is the market growth rate for Industrial Robotics?

From 2023 to 2028, the worldwide Industrial Robotics market is predicted to increase at a compounded yearly growth rate of 11.7%.

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample