Global Industrial Robotics Market Share Is Expected To Grow At A CAGR Of 10.7% By 2030

26-Jun-2023 | Facts and Factors

According to the Facts & Factors report, the global industrial robotics market size was nearly $27.11 billion in 2022 and is set to increase to about $60.57 billion by 2030 along with securing the highest CAGR of 10.7% from 2023 to 2030.

industrial-robotics-market-share

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Industrial robotics is referred to as robotic arms with sensors and controllers that have the ability to carry out a spectrum of operations in manufacturing units. Moreover, robots which make use of robotic arms are programmable, automated, and can move on three as well as more than three axes. For the record, the key industrial robotic applications include assembly, welding, painting, palletizing, product inspection & testing, and packaging & labeling.

Browse the full “Industrial Robotics Market Size, Share, Growth Analysis Report By Type (Traditional Robots and Collaborative Robots), By Component (Robot Arm, Robot Accessories, and Robotic Hardware), By Application (Assembling & Disassembling, Processing, Handling, Dispensing, and Welding & Soldering), By End-Use Industry (Automotive, Electrical & Electronics, Metals & Machinery, Food & Beverages, Optics, Precision Engineering, Cosmetics, Pharmaceuticals, Plastics & Rubbers, and Chemicals), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/industrial-robotics-market

Growing demand for SCARA and collaborative robots will drive the growth of the industrial robotics market across the globe. The massive need for expanding their production capacities has increased the penetration of industrial robots in manufacturing firms, thereby driving global market trends. Escalating trend of autonomous vehicles has led to humungous demand for industrial robots, thereby steering the expansion of the global market.

With the embedding of AI tools in industrial robots, the market for industrial robotics is predicted to gain momentum in the upcoming years. The launching of 5G networks will further proliferate the market growth globally in the years ahead. The surge in labor charges has led to demand for industrial robots in factories. Citing an instance, in October 2022, labor costs in the U.S. increased manifold.

Nevertheless, the growing need for allocating huge funds for deploying industrial robots can put brakes on the global industrial robotics industry demand. However, the evolution of Industry 5.0 is likely to generate new avenues of growth for the global industry. This, in turn, will nullify the negative impact of hindrances on global industry expansion.

industrial-robotics-market-size

Segmental Overview:

The global industrial robotics market is divided into type, application, component, end-use industry, and region.      

The component segment of the industrial robotics market is sub-segmented into robot arms, robot accessories, and robotic hardware segments. Furthermore, the robot accessories segment, which contributed over half of the global market share in 2022, is predicted to continue leading the segment in the coming years.

The growth of the segment in the next eight years can be subject to humungous demand for robot accessories enabling long-term productivity. In the last quarter of 2022, Neato Robotics, the Silicon Valley-based customer robotics firm, declared a new initiative “Customize Your Clean” that includes Neato fragrance pods and Neato D-series smart robot vacuum filters.

In terms of application, the industrial robotics industry across the globe is segmented into assembling & disassembling, processing, handling, dispensing, and welding & soldering segments. Moreover, the processing segment, which contributed majorly towards the segmental growth in 2022, is anticipated to record the fastest CAGR in the ensuing years. The segmental growth over the forecast timeframe can be due to growing demand for reducing the number of errors in painting and cutting procedures.

On the basis of the end-use industry, the industrial robotics market globally is bifurcated into automotive, electrical & electronics, metals & machinery, food & beverages, optics, precision engineering, cosmetics, pharmaceuticals, plastics & rubbers, and chemicals segments.

Moreover, the chemicals segment, which accounted for a major share of the global market in 2022, is anticipated to establish its dominant status even in the ensuing years. The segmental surge can be owing to the necessity of maintaining consistency in tasks including testing and measurement.

Apart from this, industrial robots can easily handle toxic chemicals without any human intervention, thereby preventing health hazards for humans. For instance, in the second half of 2022, Hibot Corporation made use of a float arm robot for inspecting pipelines at the Mitsui Chemical unit in Japan.

Regional Overview:

Furthermore, the Asia-Pacific industrial robotics industry, which contributed nearly more than half of the global industry share in 2022, is predicted to witness noteworthy growth in the forecast timespan. The factors that are anticipated to measure the growth of the regional market include a rise in the number of end-use industries in the countries such as India, Japan, Taiwan, Singapore, Malaysia, and Japan.

In addition to this, the surge in penetration of AI and automation in various industries in the countries such as Japan and China will spearhead the expansion of the regional industry.

Report Scope

Report Attribute

Details

Market Size in 2022

USD 27.11 Billion

Projected Market Size in 2030

USD 60.57 Billion

CAGR Growth Rate

10.7% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

KUKA AG, ABB Ltd., Comau SpA, Fanuc Corporation, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd., Denso Corporation, Omron Corporation, and others.

Key Segment

By Type, Component, Application, End-Use Industry, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Competitive Landscape:

Key players in the global industrial robotics market include KUKA AG, ABB Ltd., Comau SpA, Fanuc Corporation, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., Yaskawa Electric Corporation, Kawasaki Heavy Industries, Ltd., Denso Corporation, and Omron Corporation. 

  Recent Developments:

  • In the first half of 2022, ABB Limited, a Swiss-based firm, launched the next-gen of flexible automation products under the new OmniVanceTM brand. The move will boost the demand for industrial robotics across Europe.
  • In the first quarter of 2022, Yaskawa Electric Corporation, a Japanese firm manufacturing industrial robots, acquired a stake in Doolim-Yaskawa Company Limited for expanding its business in robotic painting and sealing systems.
  • In the first half of 2022, FANUC launched new kinds of collaborative robots, thereby expanding its current product portfolio. The move will provide impetus to the growth of the industrial robotics business globally.

The global Industrial Robotics market is segmented as follows:

By Type

  • Traditional Robots
  •  Collaborative Robots

By Component

  • Robot Arm
  • Robot Accessories
  • Robotic Hardware

By Application

  • Assembling & Disassembling
  • Processing
  • Handling
  • Dispensing
  • Welding & Soldering

By End-Use Industry

  • Automotive
  • Electrical & Electronics
  • Metals & Machinery
  • Food & Beverages
  • Optics
  • Precision Engineering
  • Cosmetics
  • Pharmaceuticals
  • Plastics & Rubbers
  •  Chemicals

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

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