Industrial Robotics Market (Updated Version Available)

Key Market Overview:

Industrial robotics market size is estimated to surpass USD 42.6 Billion by 2030, growing at a CAGR of 11.6% during the forecast period (2022-2030) from the value of USD 17.7 Billion in 2022.

An industrial robot is a type of machine technology that has been developed to automate exhaustive production tasks such as the activities that require constant moving of the product assembly line. Thus, manufacturing facilities integrate the large and heavy robots in fixed positions while the worker processes and tasks revolve around these robotics.

Industrial robots play a crucial role in the integration of manufacturing processes of multiple end-use industries in terms of automation. These robots are programmed for initiating several industrial activities such as loading, packaging, shifting, labeling, and product inspection. Additionally, these robots also increase the productivity and profitability of business entities via the elimination of labor-intensive activities attained through a high degree of precision and efficiency. Thus, the integration of such robotics extends the ability to work even in dangerous environments such as high-pressure or vacuum chambers and zones with high risks of radiation, infections, and explosions.

Furthermore, the scope of advancement in existing industrial robotics has gained significant traction during the forecast period. Industry 4.0 has generated favorable market growth opportunities for the adoption of industrial robots with artificial intelligence (AI), machine learning, cloud computing, and analytics throughout business operations by embedding programmable logic controllers (PLCs) into the machinery.

Report Attributes	Report Details
Study Timeline	2018-2030
Market Size in 2030 (USD Billion)	42.6 Billion
CAGR (2022-2030)	11.6%
By Type	Articulated, Parallel, Cartesian, SCARA, Collaborative, Cylindrical, Others
By Application	Material Handling, Palletizing, Welding & Soldering, Assembling, Cutting & Processing, Packaging, Painting, Pick & Place, and Others
By End Use	Automotive, Consumer Electronics, Aerospace & Defense, Plastics, Rubber, and Chemicals, Food & Beverages, Healthcare & Pharmaceuticals, Metals, and Mining, Others
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Yamaha Motor Co., Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, ABB, Panasonic Corporation, DENSO CORPORATION, Seiko Epson, FANUC CORPORATION, Nachi-Fujikoshi Corp, OMRON CORPORATION, KUKA AG, Yaskawa Electric Corporation, CMA ROBOTICS, Universal Robots A/S, COMAU, ST ROBOTICS

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Market Dynamics:

Driver:

The surging integration in manufacturing facilities propels market growth in terms of technology advancement. Industrial robots are deployed due to their features such as reprogrammable and multipurpose algorithms, allotment of sensors for perceiving the environment, and bring in optimization in industrial activities. Thus, the rising expenditures by end-users such as automotive, consumer electronics, packaging, and pharmaceutical sectors accelerate the market demand for increased business efficiency. Additionally, the rising concerns for employee safety due to growing incidences of industrial accidents boost the demand for such robotics in manufacturing industries.

Restraint:

The lack of skilled technical labor force for managed control of these robotics and the high costs associated with the robotics deployment restricts the huge adoption of the market during the forecast period. Furthermore, the reduced scope of implementation especially in developing regions such as Southeast Asia and South America hampers the growth of industrial robotics market statistics. The majority of the business landscape in these regions comprises low business volume and poor return on investment (ROI) that results in the slow adoption of such robotics into the business process. Thus, in conjunction with this issue, the inexpensive availability of labor also adds to the hindered market demand across major industries.

Opportunity:

The introduction of machine learning, natural language processing, artificial intelligence (AI), and others in industrial robotics is anticipated to create lucrative opportunities to bring in the required efficiency in the business process. Furthermore, such AI-enabled robotics organizations have profitable opportunities to make industrial tasks safer and enhance productivity which results in minimized time and effort.

COVID-19 Impact:

The industrial robotics market witnessed several positive effects of the COVID-19 outbreak in terms of disrupted business operations. The restricted human interference especially in manufacturing factories\' product assembling augmented the demand for such robot integration. Furthermore, the favorable usage of e-commerce for essential goods created a surged need for robotics as an alternative to the human workforce. Thus, the overall demand for such robotic innovations witnessed substantial growth during the initial phases of the COVID-19 outbreak. Post-pandemic circumstances are also anticipated to facilitate the augmented adoption of robotics into existing manufacturing facilities with the improved combination of AI and other related features.

Industrial Robotics Market Segmentation:



By Type

The type segment is separated into articulated, Cartesian, Parallel, SCARA, collaborative, cylindrical, and others. The articulated robots segment is anticipated to contribute substantial revenue share to the market growth. These robots differ from conventional robotics due to the presence of over 10 rotary joints. Thus, the high usage of articulated robots is attributed to the features such as optimized multitasking in terms of welding automation, robotic assembly, and automated pick-and-place applications. Furthermore, the SCARA type segment is also projected to register the fastest CAGR growth during the forecast period. These robotics are highly deployed on applications that require working with tolerances lower than 10 microns along with the high-speed operation, flexible axis configuration, and cleanroom capabilities.

By Application

The application segment is separated into material handling, welding & soldering, assembling, palletizing, packaging, painting, cutting & processing, pick & place, and others. The material handling application is expected to contribute major shares in terms of volume. The deployment of robotics for this application results in effective usage of space in production plants, reducing risks to human safety and optimizing the management of raw materials or products. Thus, the usage of robotics for bringing in optimizations during transportation and product assembly is anticipated to boost segment growth during the forecast period. Also, the welding and soldering segment is projected to facilitate the augmented share contribution to the market statistics. The robotics used for such applications results in consistent and high-quality welds with saved time. Hence, the segment growth is primarily credited to the reduced generation of product assembly waste and low post-weld cleanup via the utilization of such robotics for the mentioned purpose.

By End Use

The end user is segmented into automotive, aerospace & defense, consumer electronics, plastics, rubber, and chemicals, healthcare & pharmaceuticals, food & beverages, metals and mining, and others. The automotive industry primarily contributed the largest share in terms of value. Industrial robotics is highly employed in automobile production facilities to prevent worker exposure to fumes caused by welding and painting along with the noise and flash stamping presses during component assembly. Thus, the usage of robotics for reduced time cycles and precise product output supports segment growth during the forecast period. Moreover, the healthcare & pharmaceutical industry is also anticipated to witness a surged demand for such robotics integration during the forecast period. The scope of integrating robots for complicated surgical interventions, 3D simulations, and clinical training bolsters the demand segment growth in terms of value.

By Region

The regional segment includes North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. In the context of the region, Asia Pacific is projected to contribute a substantial share of the market statistics. The growing consumer and business awareness in terms of technology integration coupled with the rising foreign investments for supporting the augmented production of consumer goods is anticipated to pave paths for the industrial robotics market expansion in the Asia Pacific region. Additionally, China is recognized as a leading exporter especially in terms of electronics due to the presence of an established network of manufacturing plants, further boosting the demand for such robotics.



Moreover, North America is also estimated to contribute a major share to the market growth during the forecast period in terms of volume. The increased emphasis on automation of established end-use industries especially aerospace & defense, automobile, and consumer electronics boosts the market growth in the North American region. Thus, the augmented reliance on robotics for applications such as welding and assembly of exotic raw materials or components, inspection, and automation of vehicles is expected to increase the demand for robotics.

Industrial Robotics Market Competitive Landscape:

The market research report published on the industrial robotics market analyzes the market position in the context of the major indicators to evaluate the latest market trends. Thus, the factors such as improved expenditures on research and development, business value chain, and new product innovations are considered during the determination of market consolidation. Thus, market players have an opportunity to explore the untapped areas of innovations like the surging prevalence of smart factories. Mentioned are the major industrial conglomerates that comprise the latest market presence–

• Yamaha Motor Co.
• Kawasaki Heavy Industries Ltd.
• Mitsubishi Electric Corporation
• ABB
• Panasonic Corporation
• DENSO CORPORATION
• Seiko Epson
• FANUC CORPORATION
• Nachi-Fujikoshi Corp
• OMRON CORPORATION
• KUKA AG
• Yaskawa Electric Corporation
• CMA ROBOTICS
• Universal Robots A/S
• COMAU
• ST ROBOTICS

Recent Developments

• In March 2021, the UK-based ST Robotics launched the addition to the assorted portfolio of low-cost industrial robots named ST R18 Delta Robot System. This new robot is powered by ST\'s K11R robot controller that offers high speeds with the capacity of completing the standard 12-inch cycle within just 500 milliseconds.

• In October 2022, Swedish-Swiss Multinational Corporation named ABB introduced the smallest-ever industrial robot with features such as fast speeds, increased flexibility, and high-quality production of wearable smart devices. The new IRB 1010 offers unrivaled accuracy and class-leading payload at a compact size.

• In October 2022, Epson Robotics, the US-based producer of SCARA, Cartesian industrial robots, and 6-axis introduced the new product line of GX4 and GX 8 robots in conjunction with the latest kind of high-speed SCARA robots. This introduction of the latest SCARA robots is integrated with the larger motors for effective handling of heavy workloads at fast speeds in multiple industries such as the electronics, medical devices, and consumer electronics sectors.