The US$1,621.9 million North American industrial robot market will register a CAGR of 4.6% between 2021 and 2031, according to Bekryl market analysts

“North America Industrial Robot Market Analysis | Bekryl market analysts »

The North America industrial robot market is estimated to be worth US$1,621.9 million in 2022 and is expected to register a CAGR of 4.6% during the forecast period. According to Bekryl market analysts, the industry is highly consolidated with major players focusing on inorganic growth measures to ensure long-term market sustenance.

According to the recently released report by Bekryl, the industrial robot market in North America is estimated to be worth US$1,621.9 million in 2022 and is expected to register a CAGR of 4.6% during the forecast period. Industrial robots are mainly classified according to the level of interaction with humans as well as the degree of autonomous activity. Major factors increasing the growth of the industrial robot market include the continuous shift from manual automation process to IoT enabled automation process in various industries. The automotive and electronics industries are two growth segments for industrial robot sales in North America.

In 2021, the United States accounted for 89.5% market share and is expected to grow by 1.6X between 2030 and 2021. The region is characterized by the presence of varied specializations in the field of industrial robots. While the United States is a big consumer of industrial robots, Canada has specialized in research on artificial intelligence.

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Some key industrial robot market trends in North America:

Trend #1: The top 5 industrial robot players accounted for 73.4% revenue share in 2021

The top four players in the North America industrial robot market accounted for 73.4% of total revenue in 2021. More than 65% of these companies are dominated by Japan-based manufacturers, with the remainder being Japan-based manufacturers. Europe.

Trend #2: Leading industrial robot companies adopt inorganic growth measures for long-term market sustainability

Companies are strategically focusing on mergers and acquisitions to support the long-term market, complement their solution offerings and strengthen their presence. For example, in 2020 ABB acquired Codian Robotics BV, a Netherlands-based industrial robot company, to complement its product offerings and focus on end-use applications such as food and beverage. , pharmaceuticals and logistics.

Trend #3: The demand for collaborative robots to gain traction in the next eight years

As of 2022, traditional industrial robots dominated the North American market. However, there has been an increased demand for collaborative robots across all end-use sectors. The growing demand for human interaction with robots is driving sales of collaborative robots worldwide. Unlike traditional robots, cobots are expected to register a double-digit CAGR over the forecast period. Rethink Robotics and Universal Robots account for the major market share in the segment.

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Some of the major companies covered in the report are:

  • ABB limited
  • Omron Adept Technology
  • FANUC Company
  • Yaskawa Electric Corp.
  • Shibaura machine
  • Panasonic Company
  • Mitsubishi Electric Corporation
  • Seiko Epson Corporation
  • DENSO Corporation

About Bekryl

Bekryl Market Analysts is a global market research and advisory services company that helps industry players make smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader opinion and analytical service to help the client define their growth strategy, ranging from strategic decisions based on mergers and acquisitions to finding market opportunities in verticals, namely chemicals, food and beverage, automotive, electronics and industrial production.

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