Meticulous Research®, a premier global market research firm, has recently released a comprehensive report titled "Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029."
The report estimates that the global industrial robotics market will grow to $32.7 billion by 2029, with a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029. By volume, the market is expected to reach 950.1 thousand units by 2029, with an impressive CAGR of 11.2% over the same period. Several factors are contributing to this rapid growth, including the increasing adoption of robotics in the manufacturing sector, government policies encouraging automation, high labor costs in developed economies, and the rise of SMEs. Additionally, the automotive and electronics industries are increasingly relying on automation, further driving demand for industrial robots.
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Challenges in this market include the requirement for skilled operators to handle advanced robotic systems and safety concerns surrounding their use.
The report provides a detailed segmentation of the global industrial robotics market by component, payload, application, end-use industry, and geography, while also offering insights into the competitive landscape and trends at both the regional and country levels.
The market is segmented by component into robots, robot accessories, software, and controllers. Robots are projected to hold the largest share in 2022, driven by their ability to perform complex and dangerous tasks with precision, consistency, and 24/7 operation, reducing human labor and increasing workplace safety.
In terms of payload, the market is divided into up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg. The up to 60 kg segment is expected to see the fastest growth, particularly in industries such as electronics and healthcare, where SCARA and collaborative robots are extensively used for their precision and compact design.
The application segmentation includes material handling, assembling & disassembling, welding & soldering, dispensing, processing, machine tending, inspection, and others. The material handling segment is anticipated to lead the market in 2022, driven by the increasing use of robots to automate repetitive and hazardous tasks, improving efficiency and productivity.
By end-use industry, the market is segmented into automotive, electrical & electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharmaceuticals, and others. The automotive sector is expected to hold the largest share in 2022, with the use of robots driving improvements in production efficiency, speed, and worker safety.
Geographic Overview:
Geographically, the global industrial robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to dominate the market in 2022, driven by rising labor costs and the growing adoption of automation technologies in the region.
Key Players:
The key players profiled in the global industrial robotics market study include ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO., Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and F&P Robotics AG (Switzerland).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of component, payload, application, end-use industry, and geography?
- What is the historical market size for industrial robots across the globe?
- What are the market forecasts and estimates for the period 2022–2029?
- What are the major drivers, restraints, opportunities, and challenges in the global industrial robots market?
- Who are the major players in the market, and what are their market shares?
- How is the competitive landscape for the global industrial robots market?
- What are the recent developments in the global industrial robots market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global industrial robots market, and how do they compete with other players?
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