The Industrial Robots Market is Expected to Reach a Value of US$

NEWARK, Del, Sept. 14, 2022 (GLOBE NEWSWIRE) — A newly released IMF study predicts the global industrial robot market will grow at a 12% CAGR from 2022 to 2032. At the end of said evaluation period, a valuation of US DOLLARS$ 55.66 Billion is expected for the market. The growing adaptation of industrial robots in end-user industries such as automotive, food and beverage, and pharmaceutical industries is positively influencing the growth of the market.

From 2017 to 2021, the industry experienced remarkable growth, recording a CAGR of 9% and closing at US$16 billion. Although the COVID-19 pandemic has affected the growth of industrial robots, the need for automation is driving the demand for the same. Moreover, industrial robots not only save time in manufacturing units but also speed up productivity rates. This has led to addiction to industrial robots.

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The integration of IoT devices, as well as artificial intelligence and machine learning, are driving the growth of these. Over time, industrial robots should become more commercialized, which will facilitate their installation. Moreover, most industrial robots are capable of performing various tasks at the same time. This, in turn, helps them gain tremendous traction.

Key insights from market research

  • By end use, electrical and electrical industry is expected to provide 40% market share for industrial robots.
  • China is expected to account for 45% of total industrial robots in 2022
  • The United States is expected to hold 40% of the industrial robot market in 2022
  • France should hold 30% market share for industrial robots

“Industrial robots have the potential to change the way end-user industries operate. Multitasking, precision and accuracy make industrial robots a popular option in all industries. This, in turn, is gaining momentum for the same. IMF analyst says

Market competition

The major players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation, and ABB Limited.

  • Denso Corporation, a key player in the industrial robot market, focuses on studying the infrastructure and requirements of end-user industries and designing industrial robots for them.
  • Mitsubishi Electric Corporation, focuses on research for the design of industrial robots. The company develops industrial robots capable of easily performing complex tasks.

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FMI, in its new offering, presents an unbiased analysis of the global industrial robot market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.

The study reveals key insights based on product type (articulated robots, SCARA robots, parallel robots, Cartesian robots, cylindrical robots, others), by end use (automotive, electrical and electronics, metals and machinery, chemicals, plastics and rubber, food and beverage, healthcare, construction, other), by application (handling, welding and brazing, assembly and disassembly, painting and distribution, other), by technology (automatic, semi-automatic, manual) in five major regions (North America, Latin America, Europe, Asia-Pacific and Middle East and Africa).

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