The global industrial robots market is expected to exhibit strong growth, reaching USD 40.03 billion by 2030. As per the report titled "Industrial robots Market Size, Share & COVID-19 Impact Analysis, By Type (Traditional Robots and Collaborative Robots), By Payload (Up to 16.00 kg, 16.01-60.00 kg, 60.01-225.00 KG and More than 225.00 kg), By Component (Robot Arm, Robot Accessories (End Effectors, Controllers, etc.), Additional Robotic Hardware (Safety Fencing, Fixtures, Conveyors)), By Application (Handling, Welding & Soldering, Assembling & Disassembling, Dispensing, Processing and Others), By End Use Industry (Automotive, Electrical & Electronics, Metals & Machinery, Plastics, Rubbers, & Chemicals, Food & Beverages, Precision Engineering & Optics, Pharmaceutical & Cosmetics and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 15.9 billion and USD 40.03 billion in 2030. The market is expected to exhibit a CAGR of 14.10% during the forecast period.
FANUC And BMW AG Reached A Framework Agreement To Provide 3,500 Robots
In February 2020, following a framework agreement agreed upon by FANUC and BMW AG, 3,500 robots will be provided by FANUC for new manufacturing facilities and lines. These robots will be used to create both current and upcoming BMW cars.
Growing Investment Across Industries is Fueling Market Growth
In general, industries including automotive, pharmaceuticals, consumer electronics, packaging, and equipment have a significant demand for industrial robots. But in order to harness industrial activity and reduce expenses, they must decide what kind of robot to install throughout their locations. Players in the consumer electronics sector, for instance, may speed up the deployment of collaborative robots to improve production flexibility. As a result, the company is receiving substantial investments, driving demand for these robots. For instance, Nissan Motor bought two lines of UR10 collaborative robots—arms—from Universal Robots for its Yokohama factory to reduce labor costs while preserving the effectiveness of manufacturing processes like Takt Time. Similar to how consumer electronics, medicines, and industrial firms all have a stake in the industry, this has helped the business expand.
System Safety Issues With Industrial Robotics To Limit Market Growth
Several safety concerns accompany industrial robots. Some robots are quick and strong, especially those used in typical industrial settings. This raises the risk of danger since, for example, one swing from a robotic arm could result in catastrophic physical trauma. When a robot breaks down or needs maintenance, there are additional risks. A malfunctioning robot may hurt workers because these devices are frequently unreliable. If a robotic arm in a vehicle assembly line develops a jammed motor, the worker repairing the jam can be struck by the arm when it becomes unjammed. Similarly to this, other moving machinery could injure a person standing in an area where robotic arms are present.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the industrial robots market plan acquisitions to improve their brand recognition globally. For instance, in February 2022, wearable robotics solutions are being introduced by Comau and IUVO to increase operator productivity when transferring goods manually. The goal is to improve health by reducing lower back fatigue.
Recent Developments:
FANUC And BMW AG Reached A Framework Agreement To Provide 3,500 Robots
In February 2020, following a framework agreement agreed upon by FANUC and BMW AG, 3,500 robots will be provided by FANUC for new manufacturing facilities and lines. These robots will be used to create both current and upcoming BMW cars.
Growing Investment Across Industries is Fueling Market Growth
In general, industries including automotive, pharmaceuticals, consumer electronics, packaging, and equipment have a significant demand for industrial robots. But in order to harness industrial activity and reduce expenses, they must decide what kind of robot to install throughout their locations. Players in the consumer electronics sector, for instance, may speed up the deployment of collaborative robots to improve production flexibility. As a result, the company is receiving substantial investments, driving demand for these robots. For instance, Nissan Motor bought two lines of UR10 collaborative robots—arms—from Universal Robots for its Yokohama factory to reduce labor costs while preserving the effectiveness of manufacturing processes like Takt Time. Similar to how consumer electronics, medicines, and industrial firms all have a stake in the industry, this has helped the business expand.
System Safety Issues With Industrial Robotics To Limit Market Growth
Several safety concerns accompany industrial robots. Some robots are quick and strong, especially those used in typical industrial settings. This raises the risk of danger since, for example, one swing from a robotic arm could result in catastrophic physical trauma. When a robot breaks down or needs maintenance, there are additional risks. A malfunctioning robot may hurt workers because these devices are frequently unreliable. If a robotic arm in a vehicle assembly line develops a jammed motor, the worker repairing the jam can be struck by the arm when it becomes unjammed. Similarly to this, other moving machinery could injure a person standing in an area where robotic arms are present.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the industrial robots market plan acquisitions to improve their brand recognition globally. For instance, in February 2022, wearable robotics solutions are being introduced by Comau and IUVO to increase operator productivity when transferring goods manually. The goal is to improve health by reducing lower back fatigue.
Recent Developments:
- May 2021: A deal was struck between Sony Group Corporation and Kawasaki Heavy Industries, Ltd. to launch a new firm to run the remote robot platform operations. By primarily offering robot software and solution services, the new company will expand technological capabilities in developing remote robot platforms that allow the robots to function from faraway places.
List of Key Players Profiled in the Report
- ABB LTD. (ABB ROBOTICS)
- DAIHEN CORPORATION
- DENSO CORPORATION (DENSO ROBOTICS)
- FANUC CORPORATION
- KAWASAKI HEAVY INDUSTRIES LTD
- KUKA ROBOTICS CORPORATION
- MITSUBISHI ELECTRIC CORPORATION
- NACHI-FUJIKOSHI CORPORATION (NACHI ROBOTIC SYSTEMS, INC.)
- PANASONIC CORPORATION
- SEIKO EPSON CORPORATION
- UNIVERSAL ROBOTS A/S
- YASKAWA ELECTRIC CORPORATION
Further Report Findings
- The market in the Asia Pacific is expected to gain a huge portion of the global industrial robots market share in the coming years. Rising automation, particularly in Japan, China, and India, is projected to fuel the sector's growth.
- The demand for goods for consumption and other commodities also increases along with the population and average family income, which increases the industry's production capacity.
- In North America, the growth in this region is primarily driven by the introduction of "smart factories," "industry 4.0," and rising demand for specialized, small-footprint robotic equipment.
| Attributes | Details |
| Study Period | 2016-2030 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023-2030 |
| Historical Period | 2016-2021 |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Payload, By Component, By Application, By End Use Industry and By Geography |
| By Type |
|
| By Payload |
|
| By Component |
|
| By Application |
|
| By End Use Industry |
|
| By Region |
|
