Global Industrial Robots Market Size By Type (SCARA, Parallel, Linear), By Industry (Metals and Machinery, Rubber and Plastic, Food & Beverages), By Geographic Scope And Forecast

Industrial Robots Market Size And Forecast

Industrial Robots Market size was valued at USD 46.27 Billion in 2019 and is projected to reach USD 92.05 Billion by 2027, growing at a CAGR of 8.99% from 2020 to 2027.

Manufacturers are increasingly turning to industrial robots as they strive to reduce operational costs and minimize errors and waste during the manufacturing process. This characteristic of industrial robots is expected to drive market demand in the forecasted period. The Global Industrial Robots Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

 Global Industrial Robots Market Definition

Industrial robots are advanced robotic systems utilized in the manufacturing sector for the production of various industrial-grade goods. These programmable machines possess the ability to move along three or more axes, providing versatility in their operations. Typically constructed from materials like steel, aluminum, and cast iron, industrial robots are designed to withstand rigorous industrial environments. In certain specialized industrial applications that involve heavy lifting or military-grade manufacturing, robots made from titanium are employed to ensure the strength and power required for the manufacturing process.

Many industrial robots are strategically placed along automated assembly lines, enabling enhanced precision and efficiency throughout the entire manufacturing process. They exhibit superior speed and efficiency compared to humans, enabling faster completion of assigned tasks and making them highly efficient for the job at hand. Industrial robots find application in various tasks within the manufacturing industry, including welding, painting, pick and place, PCB mounting, packaging and labeling, palletizing, product inspection, and manufacturing testing. These robots offer numerous advantages, including cost savings, faster operational speeds, compact sizes, improved product quality, and increased manufacturing efficiency and flexibility.

The market is expected to experience growth as the integration of vision and touch technologies into robots enhances delivery system efficiency and speed. The latest generation of robots incorporates human-like characteristics such as intelligence, flexibility, memory, learning ability, and object recognition. Implementing robotic technology can yield several economic benefits for industries, including reduced overhead costs, increased productivity, minimized waste, and improved flexibility. Furthermore, advancements in artificial intelligence, such as deep learning and the development of self-programming robots, are projected to drive the market forward in the forecast period.

Global Industrial Robots Market Overview

To cut costs, reduce mistakes, and eliminate waste, manufacturers are relying more and more on industrial robots. This shift is really expected to fuel market growth for them! Plus, with more and more small and medium-sized businesses popping up, the demand for these robots is only growing, adding even more buzz to the market. Let's not forget about the growing awareness around industrial accidents, the rise in consumer spending, and the focus on keeping employees safe – these are all helping the market expand too. And then, COVID-19 hit! With restrictions on human interaction at work, the demand for robots has absolutely skyrocketed. Companies are using them in production to keep things running smoothly and minimize infection risks. It's a whole new era of automation!

Sure, the initial cost of getting industrial robots and keeping them running can be a bit of a hurdle for the market. But, what's really fueling the growth is the big move from people doing things by hand to using automated systems – that's really driving the demand for these robots! To keep things running smoothly in a factory, you need everything – management, production, and control – to work together like clockwork. Industrial robots are super important for making that happen and even making it better. Plus, you've got new, smaller businesses popping up, more money being invested in automation, and governments cracking down on dangerous materials, all pushing the demand for industrial robots even higher. Think about itthey're great for lifting those heavy parts in automobile manufacturing and tweaking machines just right. And with smart factories becoming more common, the market for these robots is only going to get bigger!

Additionally, factors such as awareness of occupational accidents, increased consumer goods consumption, and employee safety contribute to the expanding market size. Manufacturers focus on research and development efforts to integrate artificial intelligence and advanced sensors, driving market growth. Venture capital firms recognize market trends and actively support manufacturers in developing, testing, and manufacturing industrial robots. Furthermore, manufacturers adopt various business strategies such as mergers, acquisitions, and collaborations to expand their global presence and enhance market capitalization. Manufacturers aim to significantly reduce operational costs and minimize errors and material waste, particularly in industries such as automotive, electrical, electronic, and pharmaceutical.

Running a business where you need a lot of raw materials can be tough, and mistakes just make things even pricier. That's why manufacturers are turning to robots! They're hoping to cut down on expenses, boost profits for Original Equipment Manufacturers (OEMs), and make their operations more adaptable. Plus, industries like heavy machinery, food and beverage, rubber, and plastics are also fueling the need for these amazing machines. Robots are great at doing multiple things at once, and they can handle those boring, repetitive tasks with super accuracy – perfect for those crucial spots on the production line! Especially in the car and electrical equipment industries, everyone's pushing to ramp up how much they produce, and that's really driving the demand for robots.

However, any disruptions or inefficiencies in these features can hinder the production process or compromise product quality. Additionally, the unprecedented circumstances brought about by COVID-19 are expected to create opportunities in the market. Robots have been employed in various applications, including commercial, industrial, and residential settings, to ensure continuous operation without human intervention. These robots can autonomously perform essential functions and even detect and eliminate viruses and bacteria using ultraviolet light (UVC), thereby safeguarding patients from harmful microorganisms. As a result, the market is gaining momentum as it aids in maintaining a safe environment for patients.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Industrial Robots Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the Global Industrial Robots Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Industrial Robots MarketSegmentation Analysis

The Global Industrial Robots Market is segmented on the basis of Type, Industry, and Geography.

Industrial Robots Market, By Type

• SCARA
• Parallel
• Linear
• Cylindrical
• Articulated
• Others

Okay, so when we talk about the robot market, we can break it down by Type, like thisthere's SCARA robots (which stands for Selective Compliance Articulated Robot Arm – basically, two arms connected at the base and where they meet), then you have Parallel robots that use multiple limbs to hold up a platform. Linear robots? They only move in a straight line, not all twisty like others. A Cylindrical robot has a rotating joint at the bottom and other joints that slide to connect its parts. And lastly, Articulated robots are the ones with rotary joints – could be a simple two-jointed thing or a super complex system with ten or more joints! Then there's "Others" to cover anything else.

Industrial Robots Market, By Industry

• Metals and Machinery
• Rubber and Plastic
• Food & Beverages
• Healthcare and Pharmaceutical
• Automotive
• Others

Based on Industry, the market is bifurcated into Metals and Machinery, Rubber and Plastic, Food & Beverages, Healthcare and Pharmaceutical, Automotive, and Others. The metals and machinery industry applies industrial robots to operate on high-temperate metal substances and to weld metal parts together for an industrial product. Rubber and plastic are chemical industries where industrial robots help and contribute to the manufacturing process. The automotive industry is a domain where industrial robots are applied heavily to assist in the manufacturing, assembling, and painting process of vehicles.

Industrial Robots Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

When we look at the world by region, the Industrial Robots Market breaks down into places like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. But if you're wondering where most of these robots come from, the answer is Asia – especially East Asia. Powerhouses like China, Japan, South Korea, and Taiwan are huge players in the industrial robotics game. Why? Well, they've got super strong manufacturing industries and have put a lot of money into automation and robotics. You'll find tons of robot manufacturers and integrators there, and businesses in areas like automotive, electronics, and general manufacturing are really keen on using these industrial robots.

Key Players

The “Global Industrial Robots Market” study report will provide valuable insight with an emphasis on the global market including some of the major players are Omron Corporation, Kawasaki Heavy Industries, DENSO Corporation, FANUC Corporation, KUKA AG, ComauSpA, NACHI-FUJIKOSHI Corp, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, and ABB.

Our market analysis also entails a section solely among others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

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