The worldwide industrial robotics market is predicted to hit US$ 220 billion by the end of 2033, according to Future Market Bits. (FMI). Between 2023 and 2033, the market is estimated to increase at a CAGR of 18.9%. The latest market study on the industrial robotics market from Future Market Bits of Knowledge covers an open door analysis as well as a worldwide industry examination for the years 2023 to 2033. The paper investigates the industrial robotics market and anticipates strong growth between 2023 and 2033.
The industrial robotics market is expected to be worth US$ 39 billion by the end of 2023. The market is expanding as more emphasis is placed on increasing the efficiency of high-volume production lines, particularly in the development of semiconductors and electronic devices.
According to the report’s findings, the global industrial robotics market is expected to grow significantly over the forecast period due to various factors such as the acceptance of the Internet of Things (IoT) in various enterprises and the global digitalization of the manufacturing sector.
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Industrial robots are automated machines that are gaining popularity in industries such as food and beverage, electronics, metal and machinery, and semi-conductors due to benefits such as increased rate of operation, cost reduction, and quality enhancement.
These technologies are increasingly being used in a wide range of applications, such as painting, assembly, welding, palletizing, packaging and labeling, and product inspection.
As a result, industrial robotics will account for more than 40% of sales in the global robotics technology market by 2020.
East Asia is estimated to hold significant market share in terms of value in the global industrial robotics market. However, the South Asia market is projected to project lucrative growth in the global industrial robotics market over the forecast period of 2022-2028. This growth is propelled by the rapid growth in the factory automation rate in countries of South Asia and East Asia such as China, India, and Vietnam, among others. The economic condition of these countries have been evolving positively.
Furthermore, macroeconomic factors such as growing population, rapid industrialization, and urbanization, are some of the factors driving the growth of the industrial robotics market. The automotive industry in East Asia has gained a considerably positive momentum over the past years, which has increased the adoption SCARA robots and articulated robots in the manufacturing process and is estimated to indicate the rewarding growth of industrial robotics market in the East Asia region.
Automotive Industry to Remain Key End-use Industry of Industrial Robotics
The global market of industrial robotics has been segmented on the basis of different types of industrial robots, their multiple applications, end use industries, and regions such as North America, South Asia, Europe, East Asia, and the Rest of the World.
By product type, the articulated robots segment is estimated to hold a significant share of the global industrial robotics market in terms of value. This has mainly resulted from the rising productivity in manufacturing processes and improving quality of products. On the basis of end use, the automotive industry is estimated to hold substantial market share of the industrial robotics market in terms of value. This is driven by digitalization of manufacturing processes. Moreover, it is expected that the application of industrial robotics in the electrical/electronics industry will be prominent throughout the forecast period.
On the basis of application, the handling operations segment is projected to consume majority share of the global industrial robotics market value. Also, the welding segment is estimated to project lucrative growth in the industrial robotics market over the forecast period.
Industrial Robotics Market: Vendor Insights
The report indicates some of the prominent market players, who are recognized as leaders in the global industrial robotics market. These key market players in the global industrial robotics market are Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd, Kuka AG, Mitsubishi Electric, Teradyne Inc. (Universal Robots), ABB Ltd., Yamaha Motor Co., Ltd., Hirata, Corporation, and Denso Wave Incorporated, among others.
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Industrial Robotics Market by Category
By Product Type:
- SCARA Robots
- Delta Robots
- Cartesian Robots/ Gantry Robots
- Articulated Robots
- Collaborative Robots (limited segments)
- Dual-arm Robots
By Application:
- Assembly/Disassembly
- Clean Room
- Dispensing
- Handling Operations
- Processing/Cutting
- Welding
- Painting & Coating
- General Applications
By End Use:
- Automotive Industry
- Electrical/Electronics Industry
- Rubber & Plastics Industry
- Metal & Machinery
- Food & Beverages
- Plastic & Auxiliary Chemical Products
- Auxiliary Industries
- Bulk Commodities & Materials
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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