Industrial Robotics Market Growth Report & Forecast - 2030

Industrial Robotics Market Projection to 2030 - Global Analysis by Type (Articulated, Cartesian, SCARA, Collaborative, Parallel, and Others), Function (Soldering and Welding, Material Handling, Assembling and Disassembling, Painting and Dispensing, Milling, and Cutting and Processing), and Industry (Automotive, Medical & Pharmaceuticals, Electrical & Electronics, Rubber & Plastics, Metal & Machinery, and Food & Agriculture)

Publication Month : Aug 2023

  • Report Code : TIPTE100000635
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 249
Inquire Before Buy

PRICING

$4550

$3640

[Research Report] The industrial robotics market size is expected to grow from US$ 14.86 billion in 2022 to US$ 30.47 billion by 2030; it is estimated to record a CAGR of 9.39% from 2022 to 2030.

Analyst Perspective:

Emerging markets in APAC and the MEA are witnessing significant growth in the industrial robotics market. Rise in industrialization, economic development, and the need for efficient manufacturing processes are driving the demand for industrial robots in these regions. As per the IFR report, Asia Pacific remains a center of industrial robot installations, with India breaking into the top ten list for the first time. According to the latest International Federation of Robotics (IFR) report, industrial robot sales in 2021 increased by 54% compared to 2020. The number of robots is increasing rapidly in China and other developing economies. In 2021, Brazil, India, and Thailand had equivalent industrial robots compared to developed economies. Further, as the cost of manufacturing labor rises in developed countries (e.g., a 24% increase in manufacturing labor expenses in the US since 1990), as well as traditional low-cost countries such as China or India, the industrial robotics market share is expanding in recent years.

Market Overview:

Industrial robots are programmable, automated equipment that can move along three or more axes, which can be either fixed in place or to a mobile platform for use in automation and load-shedding applications in an industrial setup. They are used in welding, painting, waterjet cutting, construction/destruction, pick-and-place procedures, material handling, palletizing and depalletizing, packing, and other production tasks that require high endurance, speed, and precision. The rising need for such adaptable systems has attracted many industrial robot manufacturers to contribute to the manufacturing industry by providing diverse solutions. Robots boost the efficiency of operations and competitiveness of businesses in the industrial robotics market, especially for small and medium-sized enterprises (SMEs).

The trend of outsourcing manufacturing or contract manufacturing to low-cost countries has attracted an increasing number of manufacturing firms to Asia Pacific. According to The IFR World Robotics study, many foreign robotics businesses prefer Asia Pacific countries such as China and Japan for investment opportunities. In 2021, Asia accounted for 74% of all newly deployed robots, primarily driven by China, which has controlled the world market for industrial robots since 2013 and accounted for 52% of all installations. Japan is the second-largest market for industrial robots.

The global industrial robotics market is segmented based on type, function, industry, and geography. Based on type, the global industrial robotics market is segmented into articulated robots, Cartesian robots, SCARA robots, collaborative robots, parallel robots, and others. Based on function, the global industrial robotics market is segmented into soldering & welding, material handling, assembling & disassembling, painting & dispensing, milling, and cutting & processing. Based on industry, the global industrial robotics market is segmented into automotive, medical & pharmaceuticals, electrical & electronics, rubber & plastics, metal & machinery, and food & agriculture. Based on region, the industrial robotics market is segmented into North America, Europe, APAC, the Middle East & Africa, and South & Central America.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Industrial Robotics Market: Strategic Insights

industrial-robotics-market
Market Size Value inUS$ 14.86 billion in 2022
Market Size Value byUS$ 30.47 billion by 2030
Growth rateCAGR of 9.39% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Market Driver:

Several governments worldwide have enacted strict automotive emission and fuel economy legislation standards. These standards aim to improve the overall efficiency of vehicles and reduce their carbon footprint. In order to meet the standards in a limited time, companies are adopting automation in their production lines. Owing to this, the number of active industrial robots worldwide is increasing by ~14% year on year, and automation is creating new types of robots with increased utility and function. Future factories will certainly have machines and humans working side by side to meet consumer demand—a new reality for which business owners should be prepared. This leads to increased production and less human fatigue and reduce overtime hours.

Industry 4.0 refers to the present industrial revolution, driven by advancements in robotics, automation, and the Internet of Things (IoT). The growth of industrial IoT and artificial intelligence is likely to significantly impact robots. New maintenance tactics,  and artificial intelligence is likely to significantly impact robots. New maintenance tactics, more autonomous robots, and new collaborative robotics technologies are made possible by Industry 4.0 technology. Industrial robots and Industry 4.0 technologies can help revolutionize companies over the next few years by streamlining machine management and automating operations that were previously done by human hands which is expected to drive the growth of the industrial robotics market.

Segmental Analysis:

Based on types, the industrial robotics market is segmented into articulated, cartesian, SCARA, collaborative, parallel, and others. The articulated segment accounted for the largest share of the industrial robotics market in 2022.

Articulated industrial robots or joint arm robots are advanced robotic systems specially designed for handling manufacturing and assembly line applications. They have three axes of rotating arm motion and six degrees of freedom (DOF), allowing them to be more flexible and reachable, thus, making them advantageous over other robotic types. They are designed to look like human arms and are utilized for various functions and purposes. An articulated robot's applications include assembling, metal casting, palletizing, welding, painting, and packaging. Articulated robots have the capability of moving simultaneously along their axes. Owing to their movement capability, articulated industrial robots provide automation and precision in industrial environments, improving productivity, efficiency, and safety while performing repetitive or hazardous tasks. Such benefits of articulated industrial robots is expected to increase the industrial robotics market size.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Regional Analysis:

The Asia Pacific industrial robotics market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Asia has the world's largest industrial robot market due to the region's high demand for industrial robots. The installation of industrial robots increased by 33% in 2021 compared to 2020. In 2021, the adoption of industrial robots in the electronics industry increased by 22%, the automotive industry by 57%, and the metal & machinery industry by 29%, compared to 2020. According to IFR, in January 2023, China, Japan, and South Korea were among the top five most advanced countries in terms of annual installations of industrial robots especially China industrial robotics market witnessed higher growth.

In addition, governments of various countries in Asia Pacific are coming up with plans and initiatives to boost the industrial robotics market growth. For instance, in December 2021, China unveiled a sharpened version of the Made in China 2025 industrial policy blueprint. Under this, the government released a five-year smart manufacturing development plan to digitize 70% of the country's large enterprises. In addition, New Robot Strategy by the Japanese government, through investments in manufacturing, healthcare, infrastructure, and agriculture sectors to integrate automated solutions, is fueling the adoption of automated solutions. Such initiatives by the government will further boost the industrial robotics market share in the region.

Market players operating in the industrial robotics market in Asia Pacific include Mitsubishi Electric Corporation, Omron Corporation, and Hitachi Ltd. These companies use various organic and inorganic growth strategies to fuel their business growth. For instance, in April 2021, Hitachi Ltd acquired Kyoto Robotics, an intelligent robotics solution provider, due to the increasing need for automation during the pandemic.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Key Player Analysis:

The key players operating the global industrial robotics market include ABB Ltd, Yaskawa Electric Corporation, Nachi-Fujikoshi Corp, Fuji Robotics, KUKA AG, Universal Robotics AS, Honeybee Robotics, COMAU SPA, and Clearpath Robotics Inc, which are profiled in this study. In addition, several other major global and regional industrial robotics market players were studied and analyzed during this study to get a holistic view of the entire value chain.

Recent Developments: 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the global industrial robotics market. A few recent developments by key industrial robotics market players are listed below: 

  • In March 2023, ABB reaffirmed its commitment to one of its most important client markets, the US, by beginning construction on expanding its current robotics headquarters and production plant in Auburn Hills, Michigan. The project will be completed by November 2023 and is expected to cost US$ 20 million. The expansion will create 72 new highly skilled jobs in the area, backed by a US$ 450,000 performance-based grant from the Michigan Business Development Program.
  • In February 2022, Yaskawa Motoman, one of the world's top producers of industrial robots, introduced two new six-axis collaborative robots, the HC10DTP and HC20DTP. The HC10DTP and HC20DTP enable people to operate securely with robots in various collaborative applications such as assembly, dispensing, machine tending, material handling, packing, and welding.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Function, and Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What are reasons behind the industrial robot market growth?

1. Advancements in Automation and Industry 4.0
2. Increase in Demand in Emerging Markets

What is the future trend for the industrial robot market?

Sustainability and environmental considerations are anticipated to be vital trends in the industrial robotics market. Industrial robots are being designed to be more energy efficient with improved power management systems and energy-saving features. In coming years, the robotics sector will focus on developing energy-efficient robots that would help companies lower their carbon footprint and achieve sustainability goals.

Which region to dominate the industrial robot market in the forecast period?

The Asia Pacific industrial robotics market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Asia has the world's largest industrial robot market due to the region's high demand for industrial robots. The installation of industrial robots increased by 33% in 2021 compared to 2022. In 2021, the adoption of industrial robots in the electronics industry increased by 22%, the automotive industry by 57%, and the metal & machinery industry by 29%, compared to 2020. According to IFR, in January 2023, China, Japan, and South Korea were among the top five most advanced countries in terms of annual installations of industrial robots.

Who are the major vendors in the industrial robot market?

Kuka AG, Fanuc, Yaskawa, ABB and Mitsubishi Electric top five key market players operating in the global industrial robot market.

The List of Companies - Industrial Robotics Market

  1. ABB Ltd
  2. Yaskawa Electric Corporation
  3. Nachi-Fujikoshi Corp
  4. Fuji Robotics
  5. KUKA AG
  6. Universal Robotics AS
  7. Honeybee Robotics
  8. COMAU SPA
  9. Clearpath Robotics Inc
  10. Staubli International AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Industrial Robotics Market