16-May-2022 | Zion Market Research
The Industrial Robotics Market was worth around USD 41.7 billion in 2021 and is estimated to grow to about USD 81.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 11.8 percent over the forecast period. The report analyzes the Industrial Robotics Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Industrial Robotics Market.
Industrial robots are workers that can do risky or repetitive duties for manufacturing operations with high accuracy. The fulcrum of industrial robotics is the industrial robot, which is described as an automatically controlled, reprogrammable, multipurpose manipulator with three or more axes. For use in industrial automation, industrial robots can be either stationary or mobile. The implementation of various types of production control techniques, as well as the introduction of automation solutions, are significant components of current product development policies, thus driving the growth of the market. In addition, increased awareness of industrial robots has resulted in their deployment in industries ranging from manufacturing to healthcare. Industrial robotics is a rapidly growing market with a wide range of applications across all industry verticals. Moreover, the high cost of labor in the developed region, combined with the growing desire for automation, has resulted in an increase in industrial robot shipments for applications ranging from basic consumer applications to factory applications. Furthermore, this market is being pushed mostly by a global increase in labor costs, which has led firms to replace human labor with robots. However, large capital investment is required not only for the acquisition of the robot, but also for integration, programming, and maintenance may hamper the market growth.
The Industrial Robotics Market is categorized based on Type, Component, Payload, Application, and Industry. Based on Type, the global market is distinguished into Traditional Industrial Robots, Articulated Robots, SCARA Robots, Parallel/Delta Robots, Cartesian/Linear/Gantry Robots, Other Robots (Cylindrical robots, Spherical robots, and Swing-arm robots), and Collaborative Robots. Based on Component, the global market is distinguished into Robotic Arms, Robot Accessories, End Effectors, Controllers, Drive Units, Vision Systems, Sensors, Power Supply, Others, Additional Hardware (Safety, fencing, fixtures, conveyors, etc.), System Engineering, and Software & Programming. Based on Payload, the global market is distinguished into Up to 16.00 kg, 16.01–60.00 kg, 60.01–225.00 kg, and More than 225.00 kg. Based on Application, the global market is distinguished into Handling, Assembling and Disassembling, Welding and Soldering, Dispensing, Processing, and Others (Inspection & quality-testing and die-casting & molding). Based on Industry, the global market is distinguished into Handling, Automotive, Electrical and Electronics, Metals and Machinery, Plastics, Rubber, and Chemicals, Food and Beverages, Precision Engineering and Optics, Pharmaceuticals and Cosmetics, and Others (Paper and printing, foundry and forging, ceramics and stone, and wood).
During the forecast period, APAC led the Industrial Robotics Market. The rapid adoption of modern technologies in countries such as India and China is expected to drive market expansion. Because of its solid financial position, it can invest extensively in the adoption of cutting-edge tools and technology to ensure efficient corporate operations. Furthermore, the automobile industry is a key adopter of industrial robotics with a wide range of applications, therefore the region's rising automotive industry will boost the market. North America, which is one of the major innovators and pioneers in robotics adoption, is also predicted to rise significantly. The use of robots in the region is increasing, which is making US companies more competitive and creating new job opportunities. Growing expenditures in automotive facility automation show a consistent increase in robotic process automation in the region.
Key players functioning in the Industrial Robotics Market market include ABB (Switzerland), FANUC (Japan), YASKAWA(Japan) KUKA (Germany), Mitsubishi Electric (Japan) (Japan), Kawasaki Heavy Industries (Japan), Denso Corporation (Japan), NACHI-FUJIKOSHI (Japan), Seiko Epson (Japan), DÜrr (Germany), Universal Robots (Denmark), Stäubli (Switzerland), Comau (Italy), B+M SURFACE SYSTEMS (Germany), ICR Services (US), IRS Robotics (Netherlands), Hyundai Robotics (South Korea), Siasun Robotics (China), RobotWorx (US), Techman Robot (Taiwan), Rethink Robotics (Germany), FrankaEmika (Germany), F&P Robotics (Switzerland), Bosch Rexroth (Germany).
Browse the full “Industrial Robotics Market By Type (Traditional Industrial Robots, Articulated Robots, SCARA Robots, Parallel/Delta Robots, Cartesian/Linear/Gantry Robots, Other Robots (Cylindrical robots, Spherical robots, and Swing-arm robots), and Collaborative Robots). By Component (Robotic Arms, Robot Accessories, End Effectors, Controllers, Drive Units, Vision Systems, Sensors, Power Supply, Others, Additional Hardware (Safety, fencing, fixtures, conveyors, etc.), System Engineering, and Software & Programming). By Payload (Up to 16.00 kg, 16.01–60.00 kg, 60.01–225.00 kg, and More than 225.00 kg). By Application (Handling, Assembling and Disassembling, Welding and Soldering, Dispensing, Processing, and Others (Inspection & quality-testing and die-casting & molding)). By Industry (Handling, Automotive, Electrical and Electronics, Metals and Machinery, Plastics, Rubber, and Chemicals, Food and Beverages, Precision Engineering and Optics, Pharmaceuticals and Cosmetics, and Others (Paper and printing, foundry and forging, ceramics and stone, and wood)) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/industrial-robotics-market
Industrial Robotics Market is segmented as follows:
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