Industrial Robot Market

Industrial Robot Market Outlook (2023-2033)

The global industrial robots market will reach a valuation of US$ 17,925 million in 2023 and expected to progress at a CAGR of 12.1% to reach US$ 56,171.4 million by the end of 2033.

By payload capacity, above 600 kg sub-segment is estimated to be valued around US$ 5,101.4 million with the market share accounting for 28.5% by 2023. Assembly sub-segment under application segment will value around US$ 3,441.6 million in 2023, capturing 19.2% market share of overall industrial robot market.

Report Attributes	Details
Industrial Robots Market Size (2022A)	US$ 15,755.5 million
Estimated Market Value (2023E)	US$ 17,925.0 million
Forecasted Market Value (2033F)	US$ 56,171.4 million
Global Market Growth Rate (2023-2033)	12.1% CAGR
North America Market Share (2023)	19.2%
North America Market Value (2023)	US$ 3,447 million
Europe Market Share (2023)	23.4%
Europe Market Value (2023)	US$ 4,194.5 million
China Market Share (2023)	27.8%
China Market Value (2023)	US$ 4,985.4 million
Market Share of Top 3 Countries	53.4%
Key Companies Profiled	Mitsubishi Electric Corporation ABB Fanuc Kuka AG Yaskawa Comau Epson Kawasaki Robotics Staubli International AG Universal Robots

Sales Analysis of Industrial Robots (2018-2022) Vs. Market Outlook (2023-2033)

The industrial robots are gaining traction in the market due to its wide usability in the market especially in automotive industry. The industrial robots are most commonly used for pick and drop object from one place to another. The robot arms are capable of performing complex and complicated tasks as well. The fact that current robotic arms can perform multiple tasks is one of their main advantages.

One-purpose robots that attach to a single location and remain there essentially indefinitely are no longer necessary. Generally, for the movement of robot arms polar coordinate systems are used. The industrial robot is capable enough of multiple performing tasks which can perform by human with less accuracy. The Industrial robots are simply design in any CAD software.

The demand for Industrial robots is increasing day by day due to the ongoing trend of automation and technological advancement in the robotic industry. Asia is recorded to be the world largest industrial robot market. 266,452 units of robots has been installed in the region which shows 7% increase compare to 2019. However, in the Europe region there was decline in the robotics industry by 8% over the same period of time.

Robots ability to perform multi task, carry an object, and be programmed to perform a wide range of functions has made this technology extremely beneficial in many different ways. Robots are beneficial to people, corporations, and government agencies.

• Short Term (2023 to 2026): The industrial robots market is expected to grow as a result of technological developments.
• Medium Term (2026-2029): Uncountable technological advancements are being backed by both developed and developing countries, Germany and South Korea being under spotlight as the countries are leading players in production of industrial robotics.
• Long Term (2029-2033): In developing countries the demand for industrial robots is expected to grow due to the need to meet the increasing production capacity.

From 2018 to 2022, the global market for industrial robots registered a CAGR of 8.9% Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 12.1% CAGR between 2023 and 2033.

Market share analysis of industrial robots based on application and region is provided in the above image. Under the end user segment, automotive industry dominates with 20.3% market share in 2023.

What’s Driving High Demand for Industrial Robots across Regions?

“The Increasing Industrial Automation Will Surge the Demand for Industrial Robots”

The rising technological advancement and emerging economy have risen the concept of Industry 4.0. In order to attain new levels of agility, efficiency, quality, and sustainability, manufacturers are driving their digital transformation with an integrated strategy that applies AI, hybrid cloud, and automation. Industry 4.0 is accelerating the development of smart factories throughout the world in a variety of industry verticals, including FMCG, automotive, healthcare, aerospace, and defense, among others.

Smart factories are further made possible by the deployment of connected and intelligent digital technologies, which raises productivity, profitability, compliance, and customer satisfaction. Therefore, the game-changing technologies for overcoming these obstacles on the path to Industry 4.0 are digitization and automation. The vast amount of data generated by the Industrial Internet of Things must be gathered, understood, and used (IIoT).

“Labor shortage will increase the demand for Industrial Robots”

Pandemic's significant impact on the American labor force as "The Great Resignation." More than 47 million workers left their positions in 2021, with many of them looking for a better work-life balance and flexibility, higher pay, and a strong business culture.

Jobs that need in-person attendance and typically pay less have had a harder time keeping workers during the pandemic reorganization. For instance, the leisure and hospitality sector has regularly had a quit rate of 5.4 percent, which is the highest since July 2021. The retail trade sector's quit rate is not far behind, with summertime rates averaging close to 4%. Therefore, the labor shortage issue will create significant demand for Industrial Robots in the forecast year.

What Could be the Restraining Factor for Industrial Robots Market?

“The Regular Maintenance Involve High Cost Which Can Affect the Industrial Robots Market”

To ensure smooth operation of the robotics, regular checks and maintenance is required like other machineries. If the systematic checks are done on regular basis, then it can affect the production process during and also can lead accidents. Moreover, there is need for power supply to operate the robots. There is need to change or update to meet the emerging requirements with time.

In case of any breakdown, the cost of repair could be high. The flexibility of robots is less as compare to robots for instance the robots are unable to perform any different tasks from what they performed to do. Therefore, the regular maintenance of the robot machinery can limit the market growth and the end users will less likely to prefer rebots over humans.

Country-wise Insights

How Industrial Robots market is skyrocketing in South Korea?

In 2021, World Robotics Statistics released by International Federation of Robotics have stated that South Korea ranked as highest having robotics in manufacturing industries with 932 robots per 10,000 employees. Moreover, the robotic is being adopted in the service market in South Korea and diversifying the field for instance healthcare, food delivery, cooking, security and architecture etc. Thus, South Korea industrial robots market is expected to reach US$ 331.2 million and it is expected to account the market share of 4.8% by the end of 2023 in East Asia.

Why is the Germany Industrial Robots Market Expected to Be Highly Lucrative?

The robotics in Germany is expanding. The European Parliament made an announcement that from 2035 onwards the new vehicles which doesn’t emit CO2 will be allowed on road. The automotive industry primary concern is to meet the production capacity to have greater market capture.

Therefore, the industrial robots market in Europe is anticipated to reach the valuation US$ 1,299.1 million in 2023. Due to its advantage in terms of industrial automation in automotive sector, Germany is most likely to drive the growth of the industrial robots market.

Category-wise Insights

Which payload capacity is expected to surge the market?

Globally the demand for higher payload capacity robot are increasing due to the longer performance. It will undoubtedly enable you to draw the same current for longer, which should extend the operation time proportionately. The above 600 kg payload capacity will be highly lucrative in future as the higher capacity can carry heavier weight. the above 600 kg payload capacity robot can be heavily used in automotive industry as the automotive parts contains material like metals and other heavy parts which will be less feasible to carry by a human.

Therefore, the above 600 kg payload capacity will witness highest market growth in future due to the higher performance capacity than other industrial robots.

Which end user is estimated to support market growth in the industrial robot market?

The automotive industry is expected to grow significantly in future as the increasing disposable income have led the population to have atleast one personal vehicle. The government has supported the automobile sector in a number of ways, including by giving corporations subsidies and participating directly in plans for industry reorganization. The fundamental adjustments the sector will need to undergo in the upcoming years are likely to be hampered by these initiatives.

Therefore, the automotive industry will be highly fragmented in the assessment years and contribute the market share of 20.3% in the end of 2023 and expected market value will US$ 3,638.8 million by the end of 2023.

Competitive Landscape

All the industry leader in robotics are making their own strategy to stand out from other competitors in the industrial robots market. The brands like Mitsubishi Electric Corporation, ABB, Fanuc, Kuka AG, Yaskawa, Comau, Epson, Kawasaki Robotics, Staubli International AG, Universal Robots and others other leading players have rolled up their sleeves to enter the market and make their brand presence in the segment.

The global industrial robots market is differentiated, with many large and small market players. Therefore, in order to survive and thrive in such a competitive environment, manufacturers must differentiate their products with technologically advanced and unique products. This competitive environment can also lead to lower product prices to maintain market positions, which can adversely affect manufacturers' profit margins.

ABB launched five axes delta robots for lightweight and fastest product picking, packing and re-orientation with the payload capacity of 1.5 kg. The robot arm will specifically use for the lightweight products such as cookies, chocolates, peppers, small bottes and parcels. The product has capability of moving the product from one place to another of 1 kg products within 120 picks per minutes.

Fact.MR has provided detailed information about the price points of key manufacturers of industrial robot positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Industrial Robot Industry Research

• By Product Type :

  • Articulated arm
  • Collaborative robot
  • SCARA
  • Cartesian
  • Cylindrical
  • Spherical/Polar
  • Parallel/Delta
  • Others

• By Motion Range :

  • Below 2000 mm
  • 2000-3000 mm
  • Above 3000 mm

• By Payload Capacity :

  • Below 100 Kg
  • 100-300 Kg
  • 300-600 Kg
  • Above 600 Kg

• By Application :

  • Packaging
  • Palletizing
  • Material handling
  • Painting
  • Welding
  • Assembly
  • Inspection
  • Cutting
  • Dispensing
  • Others

• By End User :

  • Aerospace and Defense
  • Automotive
  • Chemicals & Materials
  • Electrical & Electronics
  • Food and Beverage
  • Healthcare
  • Mining & Oil & Gas
  • Retail & e-Commerce
  • Logistics & Warehousing
  • Packaging
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa