Industrial Robots Market To Reach USD 35.68 Billion By 2029 |

Pune, India, Aug. 24, 2022 (GLOBE NEWSWIRE) — The world industrial robot market the size should reach $35.68 billion by 2029 and register a strike 11.4% CAGR during the forecast period. Rising investments in various industries coupled with the growth of small and medium-sized factories are expected to drive the growth of the market. Fortune Business Insights presented this information in its report entitled, “Industrial Robot Market, 2022-2029”. The size of the market was $15.60 billion in 2021 and $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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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.

Report Scope and Segmentation:

Report cover Details
Forecast period 2022-2029
Forecast CAGR 11.4%
2029 value projection $35.68 billion
base year 2021
Industrial robot market size in 2021 $15.60 billion
Historical data 2018-2020
Number of pages 160
Segments Covered By robot type, by application, by industry, by region
Industrial Robots Market Growth Drivers Strong demand from various industries to fuel growth in Asia-Pacific
Expansion of e-commerce and logistics industries to support market growth

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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 actors.
  • 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.

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.

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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.

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)

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 conclusions
      • By robot type (USD billion)
        • Speak clearly
        • SCARE
        • Cylindrical
        • Cartesian/Linear
        • Parallel
        • Others (Collaborative, etc.)
      • By application (USD billion)
        • Choose and place
        • Welding and brazing
        • Material handling
        • Assembly
        • Cutting and processing
        • Others (Painting, etc.)
      • By industry (USD billion)
        • Automotive
        • Electrical and Electronic
        • Health & Pharmaceutical
        • food and drinks
        • Rubber and plastic
        • Metals and machinery
        • Others (Construction, Defence, Logistics)
      • 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 conclusions
      • By robot type (USD billion)
        • Speak clearly
        • SCARE
        • Cylindrical
        • Cartesian/Linear
        • Parallel
        • Others (Collaborative, etc.)
      • By application (USD billion)
        • Choose and place
        • Welding and brazing
        • Material handling
        • Assembly
        • Cutting and processing
        • Others (Painting, etc.)
      • By industry (USD billion)
        • Automotive
        • Electrical and Electronic
        • Health & Pharmaceutical
        • food and drinks
        • Rubber and plastic
        • Metals and machinery
        • Others (Construction, Defence, Logistics)

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