Global industrial robotics market to reach $41bn by 2020
According to a new report from Allied Market Research, the global market for industrial robots will climb from $26.8bn in 2012 to $41.2bn by 2020. This represents a compound annual growth rate of 5.4% from 2013 to 2020, following a growing demand for automated robots, particularly in the Asia Pacific region. The report shows that articulated robots, which are made up of rotary joints and commonly used on factory production lines, are the biggest selling robots. However, the report suggests that cylindrical robots, which have three axes of motion, and customised robots will grow at a significant pace over the next five years.
The global industrial robotics market size was $37,876.0 million in 2020, and is expected to reach $116,848.7 million by 2030, with a CAGR of 11.7% from 2021 to 2030. An industrial robot is a type of mechanical machine that is provided with input to perform the tasks automatically that are related to the production in the industries. These robots are reprogrammable and the program can be changed as many times depending on the usage and industrial requirement. For automation applications, industrial robots help in increasing the productivity with reducing the costs and producing high-quality products. Most of the industrial robots consists of drive, end-effector, robotic manipulator, sensors, and controllers. The robotic controller is the brain of the robot that helps in giving instructions. Robot sensors consist of microphones and cameras that keep the robot aware about the industrial environment. Robotic manipulator is generally the arm of the robot that helps the robot in moving and positioning, while the end effectors help in interacting the robot with the workpieces. Five types of robots used in the industries include collaborative, cartesian, SCARA, cylindrical, and articulated. The type of robot selected depends upon the degree of freedom of movement, size required, and payload capacities. industrial robots help in optimizing manufacturing for healthy and efficient process.

The industrial robotics market was hampered during the outbreak of COVID-19 pandemic, owing to restrictions on manufacturing activities, which also affected sales sector. In addition, the industrial robots could not be effectively sold through OEMs during the lockdown period.

Labor charges across the UK grow by more than 12% every year, thus resulting in shortage of workers. To overcome such problems, market players are investing in industrial robotics. For instance, in January 2022, Rishi Sunak, the chancellor of the Exchequer invested in robotics to help the UK population and the economy to tackle the crisis of inflation caused due to labor shortage. In addition, it is estimated that the labor cost will increase by more than 20% in the U.S.. Hence, this leads to increase in initiatives taken by industries to use robots to compensate with the labor charge and shortage, which drives the industrial robotics market. In addition, as per the data from the factories and industries of North America, manufacturers and industrial users ordered more than 35%, or more than 25,000 robots, in 2021. compared to 2019. High imports of robots are attributable to their use in the microelectronics industry that uses small robots to pick and place small components .As per the trends the global microelectronic industry is grown by more than 10% since 2010. Hence, the growth in microelectronic industry requiring larger number of robots is expected to drive the industrial robot market.

Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with the supply chains, were hampered on a global level. This led to decline in manufacturing of industrial robots as well as their demand in the market, thereby restraining the industrial robotics market growth. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to re-initiate industrial robotics companies at their full-scale capacities, which is likely to help the market to recover by end of 2021.

In January 2022, DHL supply chain invested $15 million over the robotic solutions for supply chain network in the warehouses. Robots help in easy supply chain network by decreasing long-term cost, increasing productivity, reducing error and optimizing picking operations. it is estimated that the supply chain market would grow by more than 100% till 2026 as per the industrial robotics market trends. Hence, with growing supply chain network, surge in requirement for cost saving, and increase in efficiency are creating new opportunities for the market.

The industrial robotics market is segmented on the basis of type, industry, function, and region. On the basis of type, the market is segmented into articulated, cartesian, SCARA, cylindrical, and others. By industry, it is classified as automotive, electrical & electronics, chemical, rubber & plastics, machinery, food & beverage, and others. By function, it is categorized into soldering & welding; materials handling; assembling & disassembling; painting & dispensing; milling, cutting, & processing; and others.

Industrial Robotics Market By Type Your browser does not support the canvas element. Cylindrical segment is projected to grow at a significant CAGR Get more information on this report : Request Sample Pages

Region wise, the industrial robotics market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global industrial robotics market share, and LAMEA is anticipated to secure a leading position during the forecast period.

On the basis of type, in 2020, the articulated segment dominated the industrial robotics market, in terms of revenue, whereas the cylindrical segment is expected to witness growth at the highest CAGR during the forecast period. As per industry, in 2020, the electrical & electronics segment dominated the market, however, the food & beverages segment is expected to exhibit highest CAGR in the near future. By function, the materials handling segment led the market in 2020, in terms of revenue; however, the painting & dispensing segment is anticipated to register highest CAGR during the forecast period. Region wise, Asia-Pacific garnered the highest revenue in 2020; however, LAMEA is anticipated to register highest CAGR during the forecast period.

Industrial Robotics Market By Industry Your browser does not support the canvas element. Food & beverages segment is expected to grow at a significant rate during the forecast period. Get more information on this report : Request Sample Pages

Competition Analysis

Major companies in the market have adopted partnership, business expansion, product launch, acquisition, and agreement as their key developmental strategies to offer better products and services to customers in the market.

Industrial Robotics Market By Region 2030 Asia-pacific North America Europe LAMEA Asia-Pacific holds a dominant position in 2020 and LAMEA is expected to grow at a highest rate during the forecast period. Get more information on this report : Request Sample Pages

Key Benefits For Stakeholders

The report provides an extensive analysis of the current trends and future estimations.

Extensive analysis of industrial robotics market is conducted by following key product positioning and monitoring of the top competitors within the market framework.

A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.

The global industrial robotics market forecast analysis from 2021 to 2030 is included in the report.

The key market players within the global industrial robotics market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global market.

Industrial Robotics Market Report Highlights