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According to our latest market study on “Industrial Robotics Market Forecast to 2025 – Global Analysis – by Types, Function, and Industry,” the industrial robotics market size is projected to reach US$ 48,166.9 million by 2025 from US$ 16,847.6 million in 2017; it is expected to witness healthy market growth of 14.2% CAGR during 2018–2025.
ABB Ltd; Kawasaki Heavy Industries, Ltd.; Yaskawa Electric Corporation; FANUC Corp; KUKA AG; Mitsubishi Electric Corporation; Denso Corp.; Nachi-Fujikoshi Corp.; Comau S.P.A.; and Universal Robots A/S are among a few key players operating in the market. In addition, several other important industrial robotics market players were studied and analyzed during the course of this study to get a holistic view of the global and regional market share and its ecosystem.
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In addition, industrial robotics are in high demand in industries such as automotive, pharmaceuticals, consumer electronics, packaging, and machinery. This need, however, is predicated on the type of robot that they need to place across their sites to harness industrial activity and cut costs. Players in the consumer electronics industry, for instance, could install collaborative robots at a faster rate to increase production flexibility. For instance, Nissan Motor Company purchased two lines of UR10 collaborative robot arms from Universal Robots for its Yokohama facility to cut labor costs while maintaining the efficiency of production procedures such as Takt Time. Consumer electronics, pharmaceuticals, and manufacturing companies have a significant investment stake in the industrial robotics market. Therefore, there are heavy investments taking place in the market that are driving the industrial robotics market growth.
Furthermore, consumers’ increasing preference for online purchasing is helping the e-commerce industry. Distributors, merchants, warehouses, and facility owners are increasingly focusing on integrated automated robotic systems. The goal is to deliver on time, save money on labor, and improve efficiency and production in every step. This is one of the most important considerations for the deployment of industrial robots, which is thereby expanding the market size of the industrial robotics market. For example, every year, labor costs in the UK rise by more than 12%, resulting in a labor shortage. To address these issues, market participants are investing in industrial robotics. For instance, in January 2022, the chancellor of the Exchequer, Rishi Sunak, invested in robotics to help the UK people and economy deal with the inflation crisis brought on by labor shortages. Similarly, many firms are also creating interesting solutions across the whole logistics value chain, such as self-driving trucks, intelligent warehouses, and service robots.
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The global industrial robotics market is segmented on the basis of types into articulated robots, cartesian robots, SCARA robots, collaborative robots, and others. The automotive sector was the largest user of industrial robotics; therefore, articulated robots captured a lion’s share of 42.3% in 2017. The global industrial robotics industry is further segmented by function into soldering & welding, material handling, assembling & disassembling, painting & dispensing, milling, cutting & processing, and others. The soldering & welding segment accounted for 35.1% share of the market, as they are generally used in automotive, electronics, and metal industries. Similarly, based on industry, the global industrial robotics market is segmented into automotive, medical & pharmaceuticals, electrical & electronics, chemical, rubber & plastics, metals and machinery, foods & agriculture, and others. Automotive OEM manufacturers heavily rely upon automation in their assembly line and automotive component manufacturers also depend upon robotics in their manufacturing processes. These reasons have led the automotive industry to hold 46.9% of the industrial robotics market share.
The expanding use of automation in the automobile production process and the use of digitization and artificial intelligence are the key reasons driving demand for industrial robots. The demand for automobiles is increasing, necessitating an increase in production. For instance, vehicle production climbed by 3.9% in May 2018, according to the Mexican Automotive Association (AMIA). Various governments in Latin America have taken significant steps to boost the use of electric vehicles, such as constructing convenient charging stations. These activities are projected to increase the adoption of automation by rising demand for electric vehicles. This is expected to accelerate the adoption of industrial robots in the automobile sector, leading to the industrial robotics market growth.
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Key findings of the study:
The players operating in the industrial robotics market are mainly focused on the development of advanced and efficient products. The companies operating in the industrial robotics market are implementing various strategies to match the technological advancements.
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