Industrial robot market worth USD 35.68 billion by 2029

Fortune Business Insights

Companies covered in Industrial Robots Market are ABB Ltd, YASKAWAELECTRIC CORPORATION, NACHI-FUJIKOSHI CORP, Comau SpA, KUKA AG, Mitsubishi Electric Corporation, FANUC CORPORATION, DENSO CORPORATION, Kawasaki Heavy Industries Ltd, Omron Corporation.

Pune, India, May 18, 2022 (GLOBE NEWSWIRE) — The world industrial robot market The size is expected to reach USD 35.68 billion by 2029 and register an impressive CAGR of 11.4% during the forecast period. Rising investments in various industries coupled with the growth of small and medium-sized factories is expected to drive the growth of the market. Fortune Business InsightsMT presented this information in its report entitled, “Industrial Robot Market, 2022-2029”. The market size stood at USD 15.60 billion in 2021 and USD 16.78 billion in 2022.
Moreover, the expansion of the logistics industry and the increasing adoption of automation in the industry are expected to create lucrative growth opportunities for the market.

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Regional outlook-

Strong demand from various industries to fuel growth in Asia-Pacific
Asia-Pacific is expected to overtake the global industrial robot market share. The growing demand for automation in India, China and Japan is the main driver of market growth in Asia Pacific. Moreover, improving levels of disposable income, coupled with expanding population, necessitate an expansion of productive capacity. It is estimated that this growing need for higher and faster production capacities will prosper in the growth of the Asia-Pacific market.
North America is expected to experience substantial development in the coming years due to the emergence of Industry 4.0 and smart factories.
Europe is expected to show significant growth due to the rise of industrial robots in aerospace, food and beverage, electronics and other industries.
Latin America, the Middle East and Africa are expected to experience immense growth due to increasing industrialization and adoption of automation.

Companies operating in the Industrial Robots Market:

  • ABB (Switzerland)

  • YASKAWA ELECTRIC CORPORATION (Japan)

  • Mitsubishi Electric Corporation (Japan)

  • NACHI-FUJIKOSHI CORP. (Japan)

  • Comau SpA (Italy)

  • KUKA AG (Germany)

  • FANUC CORPORATION (Japan)

  • DENSO COMPANY. (Japan)

  • Kawasaki Heavy Industries, Ltd. (Japan)

  • Omron Corporation (Japan)

Impact of COVID-19-

Positive increase in demand for industrial robots during COVID-19
The coronavirus pandemic has significantly boosted the demand for products in various industries. Various initiatives and regulations for occupational safety and industrial accident prevention have potentially accelerated the growth of the industrial robot market. The incorporation of advanced sensors and technologies such as artificial intelligence (AI) has helped in the expansion of the market. The major players operating in the market are adopting various strategies to amplify their global presence, which is expected to further accelerate the expansion of the market in the coming years.

Industrial Robots Market: Report Scope and Segmentation:

Report attribute

Details

Market size value in 2021

$15.60 billion

Revenue forecasts in 2029

$35.68 billion

Rate of growth

CAGR of almost 11.4% 2022-2029

Year of reference

2021

Historical years

2018 – 2020

Forecast years

2022 – 2029

Segments Covered

By robot type, by application, by industry and by region

Forecast units

Value (USD billion) and volume (units)

Quantitative units

Revenue in USD Million/Billion and CAGR from 2022 to 2029

Regions covered

North America, Europe, Asia-Pacific, Middle East and Africa, Latin America and Rest of the World

Countries covered

United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others

Number of companies covered

ABB Ltd, YASKAWAELECTRIC CORPORATION, NACHI-FUJIKOSHI CORP, Comau SpA, KUKA AG, Mitsubishi Electric Corporation, FANUC CORPORATION, DENSO CORPORATION, Kawasaki Heavy Industries Ltd, Omron Corporation.

Industrial Robots Market Coverage

Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.

Scope of customization

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Segments-

Based on robot type, the market is divided into parallel, Cartesian/linear, cylindrical, SCARA, articulated and others. Based on application, the market is segmented into cutting & processing, assembly, material handling, welding & brazing, pick & place, etc. Based on industry, the market is categorized into metals and machinery, rubber and plastic, food and beverages, healthcare and pharmaceuticals, electrical and electronics, automotive, and others. Geographically, the market is categorized into Latin America, Europe, Middle East & Africa, North America, and Asia-Pacific.

Report cover-

  • It provides a comprehensive analysis of market growth drivers.

  • It offers an overview of the development strategies adopted by the main players.

  • The impact of the pandemic on the market growth is presented in the report.

  • It covers an assessment of the major market players and profiles them accordingly.

  • Different segments of the market are described in detail.

Drivers and Constraints-

Expansion of e-commerce and logistics industries to support market growth
Industrial robots are in high demand in various industries such as equipment, packaging, consumer electronics, automotive, pharmaceuticals and others. They facilitate heavy lifting operations and also help to reduce costs. Deployment of industrial robots helps in improving production and efficiency, which is a crucial factor in driving the growth of the market.
The expansion of the e-commerce industry due to the increase in online shopping by consumers has led to a rise in the logistics sector. The demand for faster and more efficient delivery has risen sharply, and the incorporation of advanced industrial robots is streamlining the process.
However, high maintenance and initial investment costs may hamper the market growth over the forecast period.

Competitive Landscape-

Major players are launching new products to gain growth
The major players in the market are emphasizing technological innovations through extensive research and development activities to launch highly efficient and modern industrial robots. They are adopting various strategies including mergers, acquisitions, collaborations and others to amplify their global reach. For example, Omron Corporation has expanded its series of mobile robots by launching a new mobile robot in November 2019. The new robot has the ability to move a payload of up to 250 kg.

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Contents:

  • Introduction

    • Definition, by segment

    • Research approach

    • Sources

  • Summary

  • Market dynamics

    • Macro and micro economic indicators

    • Drivers, constraints, opportunities and trends

    • Impact of COVID-19

      • Short term impact

      • Long term impact

  • Competition Landscape

    • Business strategies adopted by key players

    • Consolidated SWOT analysis of key players

    • Porter’s Five Forces Analysis

    • Global Industrial Robots Key Players Market Share Insights and Analysis, 2021

  • Global industrial robots market size estimates and forecasts (quantitative data), by segments, 2018-2029

      • Main findings

      • By robot type (USD billion)

      • By application (USD billion)

        • Choose and place

        • Welding and brazing

        • Material handling

        • Assembly

        • Cutting and processing

        • Others (Painting, etc.)

      • By industry (USD billion)

      • By region (USD billion)

        • North America

        • Europe

        • Asia Pacific

        • Middle East and Africa

        • Latin America

  • North America industrial robot market size estimates and forecasts (quantitative data), by segments, 2018-2029

      • Main findings

      • By robot type (USD billion)

      • By application (USD billion)

        • Choose and place

        • Welding and brazing

        • Material handling

        • Assembly

        • Cutting and processing

        • Others (Painting, etc.)

      • By industry (USD billion)

TOC Continued…!

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