Global Industrial Robotics Market Size By Industry of End User, By Purpose, By Application, By Geographic Scope And Forecast

Industrial Robotics Market Size And Forecast

Industrial Robotics Market size was valued at USD 52.5 billion in 2023 and is projected to reach USD 79.87 billion by 2030, growing at a CAGR of 14.1% during the forecast period 2024-2030.

Global Industrial Robotics Market Drivers

The growth and development of the Industrial Robotics Market is attributed to certain main market drivers. These factors have a big impact on how Industrial Robotics are demanded and adopted in different sectors. Several of the major market forces are as follows

• Manufacturing Automation The increasing use of industrial robots for material handling, welding, assembly, and other jobs stems from the need for industrial processes to become more productive, precise, and efficient.

For ExampleThe following February 2024, ABB introduces a “Dual-arm robot specifically designed for automating complex assembly tasks in the automotive industry”This innovation demonstrates the emphasis on customised robots for certain sectors and uses, further automating intricate production procedures.

• Savings and ROI (return on investment)Over time, industrial robots can be a cost-effective solution because of their great precision in doing repetitive tasks, which lowers labor costs and increases overall operational efficiency.

For ExampleJanuary 2024Honeywell purchases a software firm that specialises in analytics and robot performance optimisationThe increasing significance of data-driven insights in enhancing robot efficiency and optimising return on investment is indicated by this acquisition.

• Recent Progress in Robotic Technology The capabilities and uses of industrial robots have increased due to ongoing breakthroughs in robotics technology, such as the creation of collaborative robots (cobots), artificial intelligence, and machine learning.

For ExampleYaskawa presents a brand-new cobot that has sophisticated AI capabilities for manipulating and recognising objects (March 2024)This breakthrough demonstrates how artificial intelligence (AI) has advanced robotics, allowing them to do intricate jobs and work more productively with people.

• Adaptability and Flexibility Modern industrial robots can swiftly adjust to changes in production requirements because of their increased flexibility and ease of reprogramming.

For ExampleManufacturer of cobots Universal Robots merges with a business that specialises in mobile robot platforms (February 2024)This merger is a calculated step towards the development of more mobile and versatile robots that can easily adjust to the ever-changing demands of production lines.

• Enhancing QualityIndustrial robots ensure accurate and consistent manufacturing processes, lower error rates, and increase overall product reliability, all of which lead to better product quality.
• Ergonomics and Safety Because they can safely operate alongside humans, collaborative robots have grown in favor as a solution to issues with ergonomics and worker safety in manufacturing settings.
• Rising Labor Expenses In order to stay competitive and manage manufacturing costs, firms have been forced to invest in automation and robotics due to rising labor prices in different parts of the world.
• Supply chain optimization and globalization Businesses are using industrial robots to streamline lead times, improve overall logistics and distribution efficiency, and optimize supply chain procedures.

Global Industrial Robotics Market Restraints

The Industrial Robotics Market has a lot of room to grow, but there are several industry limitations that could make it harder for it to do so. It’s imperative that industry stakeholders comprehend these difficulties. Among the significant market limitations are

• Excessive outlay at first Industrial robot acquisition and deployment can come with a hefty upfront cost, which includes system integration, programming, and training expenses.

For ExampleIn March 2024, Fanuc introduces a “Subscription-based service model for robot access and training”This innovation lowers the initial investment requirements and provides a pay-as-you-go option, making robots more affordable for smaller enterprises by eliminating the need for upfront payments.

• Programming Complexity Industrial robot programming may call for specialist knowledge, and smaller businesses with less technological know-how may find the intricacy of the process prohibitive.

For Example“Intuitive user interface and drag-and-drop programming software for cobots” is introduced by Kawasaki in February 2024. Smaller organisations will be more likely to embrace cobots as a result of this advancement, which solves the demand for reduced programming and makes it easier for people with less technical experience to integrate and manage cobots.

• Restricted Adaptability in Specific Cases Even while contemporary robots are getting increasingly adaptable, some applications would still need extremely specialized and tailored solutions, which in some cases might limit how versatile industrial robots can be.

For ExampleIn January 2024, Siemens and a research institute collaborate to build a “Modular robot design platform”This partnership shows a commitment to developing modular and customisable robots that can meet a wide range of application requirements and get beyond the drawbacks of highly specialised solutions.

• Concerns over the Loss of Jobs Industrial robots may not be widely adopted if workers are afraid of losing their jobs or if there is a strong tradition of human labor in the industry.

For Example“Reskilling and upskilling programmes for displaced workers” are funded by an industry consortium as of December 2023. This project may help reduce resistance to the deployment of robots by acknowledging concerns about job displacement and showcasing the industry’s commitment to offering training and career options for individuals affected by automation.

• Safety Issues It is still a worry to ensure human workers’ safety when collaborating with robots, particularly in shared workspaces. Ensuring adherence to safety regulations is crucial, and resolving these issues could raise implementation expenses.
• Limited Small and Medium-Sized Enterprise (SMEs) Accessibility Industrial robots can be more expensive and difficult at first, which could prevent smaller businesses from using them, which would restrict the market’s potential growth.
• Upkeep and Silence The total productivity of industrial robots can be impacted by maintenance needs and downtime for maintenance tasks, particularly if the systems are not built for simple maintenance.

Global Industrial Robotics Market Regional Analysis

1. Asia-Pacific

• Current Status has the most market share as a result of the manufacturing sector’s rapid development, especially in China.Support from the government for “Industry 4.0” and automation initiatives.Increasing need for inexpensive robots, particularly cobots.
• Top Nations South Korea, Japan, and China

2. Europe

• Current Status Has a substantial market share because ofWell-established robot adoption rates in the electronics and automotive industries.Pay attention to Industry 4.0 projects and enhanced automation.Increasing need for highly effective robots to complete challenging tasks.
• Top Nations France, Italy, Germany

3. North America

• Current Status holds a substantial market share as a result ofA highly developed and sophisticated manufacturing industry.Robotics are becoming more and more common in a variety of areas, such as aerospace and healthcare.Put your attention on increasing production and lowering labour costs.
• Top Nations Mexico, Canada, and the United States

4. The Rest of the World (ROW)

• Current StatusGrowing automation investments by developing nations have created an emerging sector with significant development potential.Increasing knowledge of industrial robots’ advantages.Government programmes encouraging the use of technology and automation.
• Top Nations those in Southeast Asia, Brazil, and India

Global Industrial Robotics Market Segmentation Analysis

The Global Industrial Robotics Market is Segmented on the basis of Industry of End User, Purpose, Application, and Geography.

Industrial Robotics Market, By Industry of End User

• Automotive For jobs like welding, painting, and assembly, industrial robots are essential to the automotive industry.

Anticipated to sustain its leading position owing to the persistent requirement for highly accurate and productive manufacturing procedures. increasingly adaptable robots, on the other hand, may become increasingly common for managing a variety of car models and production customisation.

• Electronics Used in processes including semiconductor production, testing, and circuit board assembly.

Expected to experience rapid expansion due to the growing need for intricate and compact electronic components. It is anticipated that the employment of robots in circuit board assembly and semiconductor manufacturing would increase significantly.

• Metal and Machinery Used in the machining, heavy machinery, and metal fabrication sectors.

Anticipated to increase steadily since heavy machinery and metal manufacturing require automated processes. Robotics will probably continue to be widely used in welding, cutting, and material handling applications.

• Food and Beverage Used in food processing facilities for handling, palletizing, and packaging.

Expected to rise moderately as a result of the growing emphasis on automation in food processing for efficiency, safety, and hygienic reasons. However, in some places, widespread adoption may be restricted due to worries about product integrity and the requirement for careful handling.

• Chemicals and Pharmaceuticals Used in chemical processing and pharmaceutical manufacture for precise operations.

Anticipated to experience notable expansion owing to the requirement for exact and hygienic procedures in chemical processing and pharmaceutical production. Robots will probably be essential in the handling of hazardous materials and the packaging of pharmaceuticals.

Industrial Robotics Market, By Purpose

• Welding Robots These machines are adept at automated welding procedures and offer accuracy and productivity.

Continue to be an important segment because they are used extensively throughout many industries. The market may, however, move towards more adaptable robots that can work with a variety of welding materials and processes.

• Assembling Robots These machines assemble goods and parts on production lines.

High growth is anticipated, driven by the demand for flexible automation across several industries and the growing complexity of completed products.

• Painting and Coating Robots Used for automated painting and coating jobs in sectors like the automotive industry.

Expected to develop somewhat because of the possibility of automation interfering with tasks that need human interaction and aesthetic concerns.

• Robots for testing and inspection fitted with sensors for applications involving quality assurance and inspection.

Significant growth is anticipated as emphasis on product safety and quality control grows. The need for robots with sophisticated vision systems and sensors will grow.

Industrial Robotics Market, By Application

• Arc Welding Robots These robots are experts in arc welding procedures for metal manufacturing and automotive industries.

Anticipated to stay a significant market, however alternative welding methods like laser welding may pose a threat.

• Palletizing Robots Typically utilized in warehouses and logistics, these robots are made to stack and arrange items on pallets.

Probably see rapid expansion brought on by the growing need for automation in warehouses and logistics.

• Pick-and-Place Robots Often used in packing and assembly, these robots are designed to pick up objects from one area and place them in another.

High growth is anticipated because of its adaptability and numerous uses across a variety of industries.

• Machine Tending Robots Increase manufacturing efficiency by doing jobs like loading and unloading materials on CNC machines.

As the need for greater efficiency and less human intervention in CNC machining operations develops, consistent development is anticipated.

Industrial Robotics Market, By Geography

• North America Consisting of the US, Canada, and Mexico industrial robotics markets.
• Europe Including markets in nations like France, Germany, the UK, and others.
• Asia-Pacific Consisting of significant markets such as South Korea, Japan, China, and India.
• Latin America Including nations such as Mexico and Brazil.
• Middle East and Africa Including countries like South Africa and the United Arab Emirates in the industrial robotics industry coverage.

Key Players

The major players in the Industrial Robotics Market are

• Nachi-Fujikoshi Corp. (Japan)
• Stäubli International AG (Switzerland)
• Universal Robots A/S (Denmark)
• Kawasaki Heavy Industries, Ltd. (Japan)
• SMC Corporation (Japan)
• Techman Robot Inc. (Taiwan)
• Comau (Italy)
• Doosan Robotics (South Korea)
• Estun Automation (China)
• Siasun Robot & Automation Co., Ltd. (China)

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