Industrial Robots Market by Robot Type (SCARA Robots, Articulated Robots, Collaborative Robots, Cartesian Robots, Parallel Robots, and Other Robots), by Mobility (Fixed, and Mobile), by Application (Material Handling, Assembling, Processing, Welding & Soldering, Pick & Place, and Others), by End User (Automotive & Transportation, Pharmaceutical, Food & Beverage, Logistics & Warehousing, Aerospace & Defense, Metalworking and Machining, and Others) – Global Opportunity Analysis and Industry Forecast 2024-2030

Market Overview

The global Industrial Robots Market size was valued at USD 39.53 billion in 2023 and is predicted to reach USD 88.55 billion by 2030 with a CAGR of 12.4% from 2024-2030. An industrial robot is a programmable machine designed to execute tasks with precision, speed, and reliability within industrial settings. These robots consist of articulated arms equipped with various sensors, tools, and end-effectors, allowing them to perform a wide range of functions such as welding, assembly, painting, material handling, and many more.

Industrial robots are utilized across diverse industries including automotive, electronics, aerospace, and pharmaceuticals, where they contribute to increased productivity, improved quality, and cost efficiency. These machines can operate autonomously or under human supervision, depending on the application, and are essential components of modern manufacturing and production processes.

Introduction of Industry 4.0 Within Industries Boosts Market Growth

The convergence of Industry 4.0 initiatives and digitalization is revolutionizing the industrial robot market by integrating these robots with smart manufacturing systems, IoT platforms, and cloud computing. This integration allows for real-time monitoring, predictive maintenance, and data-driven optimization of production processes.

By harnessing the power of data analytics, manufacturers can proactively identify inefficiencies, streamline workflows, and optimize resource utilization. As a result, manufacturing robots play a pivotal role in creating smarter, more efficient production environments, driving the industrial robots market growth by improving productivity, reducing costs, and enhancing overall competitiveness.

Government Initiatives to Promote Industrial Automation Within Industries Boost Market Growth

Government initiatives to promote industrial automation within industries play a crucial role in fostering the growth of the industrial robot market. Through incentives such as financial subsidies and tax benefits, governments encourage businesses to invest in automation technologies, including industrial robots, thereby reducing the financial barriers to adoption.

Additionally, funding for research and development initiatives facilitates innovation in robotic systems, leading to the development of more advanced and efficient solutions. Furthermore, governments implement skills development and training programs to equip the workforce with the necessary expertise to operate and maintain robotic systems effectively.

These collective efforts not only drive the adoption of industrial robots but also contribute to increased productivity, competitiveness, and economic growth within industries. For instance, in January 2022, China introduced a modified version of the Made in China 2025 industrial policy blueprint. The five-year smart manufacturing development plan aims to digitize 70% of the country’s large enterprises. China aims to focus on building and owning industrial robots, as well as upgrading equipment and processes used in the manufacturing sector. 

High Cost Associated with Industrial Robots Restrain Market Growth

The high initial costs associated with industrial robots restrain the market growth. The upfront investment required for purchasing and installing robotic automation can be substantial, especially for small and medium-sized enterprises (SMEs) with limited financial resources.

Additionally, there are expenses related to training employees to operate and maintain these sophisticated machines, as well as potential costs for reconfiguring production lines to accommodate them. These factors can deter businesses from adopting robotic automation, thus impeding the expansion of the industrial robots market. However, advancements in technology and increasing competition among robot manufacturers lead to cost reductions over time, making industrial robots more accessible to a wider range of industries and businesses.

The Integration of AI and Machine Learning in Industrial Robots Creates Future Opportunity

The integration of artificial intelligence (AI) to enhance robot capabilities presents future opportunities for the upcoming years. By incorporating AI, industrial robots can achieve autonomous decision-making, adaptive learning, and predictive maintenance.

This empowers robots to optimize tasks, swiftly adapt to changing environments, and significantly boost overall efficiency. As industries seek to improve productivity and responsiveness, the adoption of AI-enabled robots presents a promising avenue for enhancing manufacturing processes and driving competitive advantage.

Asia-Pacific Dominates the Industrial Robot Market

Asia Pacific dominates the global industrial robot market due to the rising adoption of industrial automation in China, evidenced by the record-breaking installation of 43,300 units in 2021—a 44% increase from the previous year. This surge in installations reflects China's strategic focus on automation and technological advancement, driving demand for industrial robots across various sectors, from manufacturing to logistics.

As China continues to prioritize efficiency, productivity, and innovation in its industrial landscape, the trajectory of factory robotics adoption is poised to play a pivotal role in shaping the dynamics of the global industrial robot market. Moreover, the South Korean government's initiatives to promote Industry 4.0 and smart factory technologies, particularly focusing on assisting small and medium-sized enterprises, are expected to further boost demand for industrial robots. 

By emphasizing the establishment of 4,500 smart factories across ten major sectors by 2025, the government underscores the growing importance of industrial process automation, thus contributing significantly to the expansion of the industrial robot market in South Korea.

Furthermore, the increasing initiatives by startup companies in India play a significant role in shaping the industrial robot market's trajectory. As these startups delve into innovative technologies and automation solutions, they contribute to the broader adoption of industrial robots across various sectors.

A prime example is the debut of "India's first collaborative robot" by Svaya Robotics at the IMTEX event in Bengaluru, India, in February 2023. The robot is equipped with a built-in programmable logic controller (PLC), these robots possess the capability to seamlessly integrate into various ecosystems and communicate across different industrial communication protocols. This advancement facilitates comprehensive automation across production processes, further propelling the industrial robot market's expansion.

Europe Expected to Show Substantial Growth in the Industrial Robot Market

The rising adoption of industrial robots in Europe, particularly in powerhouse economies such as Germany, Sweden, and Switzerland, is a key driver for the growth of industrial robot market in the region. As per data published by International Federation of Robotics, in January 2024, The European Union has a robot density in manufacturing industry of 208 units per 10,000 employees with Germany, Sweden and Switzerland ranking in the global top-ten group in 2022.

Manufacturers in Europe are increasingly turning to industrial robots to streamline production processes, optimize resource utilization, and maintain high-quality standards. This heightened reliance on automation enhances operational efficiency and productivity and also addresses challenges posed by labor shortages and rising wage costs.

Additionally, as European industries strive to remain competitive in the global industrial robots market, the integration of industrial robots enables them to meet evolving consumer demands for customized products and shorter lead times. Consequently, the demand for production robots continues to surge, fostering innovation and technological advancement within the European manufacturing landscape.

Moreover, the increasing efforts by major players in the global market, such as ABB Ltd., are fueling the industrial robot market expansion in the region. ABB Ltd., renowned as a global leader in robotics and industrial automation, significantly influences the market landscape with its inventive products and initiatives.

For example, in September 2023, ABB investment $280 million to enlarge its manufacturing presence in Europe and establish the ABB Robotics European Campus in Västerås, Sweden. Thus, the substantial investments and strategic initiatives by major players including ABB Ltd. are instrumental in propelling the expansion of the industrial robot market, fostering innovation and driving efficiency in manufacturing processes across the region.

Competitive Landscape

Several market players operating in the industrial robot industry include ABB Ltd., Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., Comau Automation Company, KUKA Robotics Company, Fanuc Corporation, Denso Corporation, Kawasaki Heavy Industries, Ltd. and Omron Corporation. These market players are adopting various strategies including product launches and business expansions to stay competitive and maintain their market positions.

For instance, in February 2024, Kuka introduced a novel industrial robot tailored for handling and spot-welding operations. Dubbed as the KR Fortec, this new robot boasts an elongated arm capable of managing payloads weighing approximately 240 kg over a reach of 3,700 mm. Occupying a reduced footprint, the robust KR Fortec is said to seamlessly integrate between the company's KR Quantec and KR Fortec ultra models.

Also, in September, 2023, ABB launched OptiFact software platform and IRB1090 industrial education robot making it a global launch in CIFF, 2023. The Opti Fact software platform launched by ABB Ltd. aid business organization to collect and analyse data directly factory floor to enhance decision making and performance. The new IRB 1090 educational robot equipped the next generation by making them aware about new skills to thrive in the field of automation.

Moreover, in September, 2023, Fanuc Corporation announced the expansion of its business in Oakland that is scheduled to be open in spring of 2024. The opening of the new west campus would increase its operation space to 2 million sq. ft. would enhance its operation and would increase the collaboration of Fanuc Corporation with other industrial sector such as food & beverage, aerospace, electrical, medical and others.

Industrial Robot Market Key Segments

By Robot Type

• SCARA Robots

• Articulated Robots

• Collaborative Robots

• Cartesian Robots

• Parallel Robots

• Other Robots 

By Mobility 

• Fixed

• Mobile

By Application

• Material Handling

• Assembling

• Processing

• Welding and Soldering

• Pick and Place

• Others

By End User

• Automotive & Transportation 

• Pharmaceutical

• Food & Beverage

• Logistics & Warehousing

• Aerospace & Defense

• Metalworking and Machining

• Others

By Region        

• North America    

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France

  • Spain

  • Italy

  • Netherlands

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Taiwan

  • Vietnam

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

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