REDDING, Calif., Dec. 5, 2024 /PRNewswire/ — According to a new market research report titled ‘Industrial Robots Market Size, Share, Forecast, & Trends Analysis by Component (Robots, Robot Accessories), Payload (Up to 60 Kg, 60 to 100 KG), Application (Material Handling), End-use Industry, Geography – Global Forecast to 2031
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The industrial robots market is projected to reach $37.1 billion by 2031, at a CAGR of 6.8% during the forecast period 2024 – 2031.
Industrial robots refer to automated machines or robotic systems used in industrial environments to perform tasks that enhance manufacturing efficiency, productivity, safety, and precision. These robots are designed to carry out repetitive, labor-intensive, or hazardous tasks that would otherwise require human workers. They are commonly deployed in settings such as assembly lines, factories, warehouses, and distribution centers. Typical applications include welding, painting, assembly, packaging, material handling, quality inspection, and more. In certain sectors, such as healthcare, industrial robots are also adapted for specialized tasks, including surgical procedures.
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The growth of the Industrial robots market is primarily driven by the increasing adoption of robots in the manufacturing sector and government support to encourage the adoption of industrial robots. However, the high initial investment requirements and performance issues with robots may restrain the growth of this market.
Moreover, the increasing automation across the automotive and electronics sectors, and rising focus on reducing human labor across industries are expected to generate growth opportunities for the players operating in this market. However, the lack of skilled professionals and safety concerns associated with robots interacting with other industrial systems are some of the challenges impacting the growth of this market.
The Industrial robots market is segmented based on component (robots, robot accessories, controllers, software), payload capacity (up to 60 kg, 60 to 100 kg, 100 to 225 kg, and above 225 kg), application (material handling, welding & soldering, assembling & dissembling, machine tending, dispensing, processing, inspection, and other applications), end-use industry (automotive, electrical & electronics, metal & machinery, plastic & chemicals, oil & gas, food & beverage, aerospace & defense, biotechnology, healthcare, and other end-use industries). The report also provides a comprehensive analysis of the industrial robots market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Among the product types studied in this report, the robots segment is slated to register the highest CAGR during the forecast period. This growth is driven by the increasing adoption of robots in the manufacturing sector, the rising demand for collaborative robots, and the growing need for robots to improve workplace safety. Additionally, the benefits offered by robots, such as enhanced productivity, precision, quality control, cost reduction, improved workplace safety, better operational efficiency, and optimized inventory and supply chain management, are expected to further drive its growth.
Among the payload categories studied in this report, the 60 to 100 kg segment is slated to register the highest CAGR during the forecast period. This growth is driven by the increased demand for automation in manufacturing, the rising need for robots with a 60-100 kg payload capacity in the automotive sector, and the growing demand for robots capable of handling heavy-duty tasks across various industries.
Among the applications studied in this report, the material handling segment is slated to register the highest CAGR during the forecast period. This growth is driven by the rising demand for material handling robots to improve production line efficiency, the growing adoption of these robots, and the increasing need for speed and accuracy in material handling operations.
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Among the end-use industries studied in this report, the automotive segment is slated to register the highest CAGR during the forecast period. This growth is driven by the increasing demand for electric and autonomous vehicles, a growing adoption of automation and Industry 4.0 technologies, and the need for manufacturers in the automotive industry to accelerate production, reduce costs, and enhance product quality.
Among the regions studied in this report, the market in Asia-Pacific is slated to record the highest CAGR during the forecast period. This growth is driven by the growing adoption of industrial robotics across various sectors, the increasing use of collaborative robots, the presence of key market players, and the rising need for manufacturers to automate production processes. Additionally, factors such as the region’s infrastructure development, especially in China, South Korea, Japan, and India; the rapid growth of regional economies; the expansion of industries like automotive and electronics; advancements in robotics, AI, and ML technologies; and increasing investments by market players further contribute to the growth of this regional market.
The key players operating in the industrial robots market are ABB Ltd (Switzerland), Fanuc Corporation (Japan), YASKAWA Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Universal Robots Als (A Part of Teradyne Inc.) (Denmark), Stdubli International AG (Switzerland), Techman Robot lnc (Taiwan), Denso Corporation (Japan), OMRON Corporation (Japan), HD Hyundai Co Ltd (South Korea), Bosch Rexroth AG (A Part of Robert Bosch GmbH) (Germany), Seiko Epson Corporation (Japan), Dürr Aktiengesellschaft (Germany), Comau S.p-A. (Ita F&P Robotics AG (Switzerland), and Franka Robotics GmbH (Germany).
Industrial Robotics Industry Overview: Latest Developments from Key Industry Players
In June 2024, Agora Robotics (Romania), a tech company focused on developing user-friendly autonomous mobile robots for industrial floor cleaning and logistics, launched Sweep—the first autonomous industrial robot designed to clean hard floors in warehouses, factories, hotels, commercial spaces, railway stations, airports, hospitals, and more. Weighing 115 kg, the industrial robot can clean up to approximately 8,700 square meters within a 24-hour period.
In April 2024, Viam Inc. (U.S.), the open-source platform for smart machines, partnered with KUKA AG (Germany), the leading global supplier of intelligent robot-based solutions. The partnership aimed at deploying and integrating the Viam software platform with KUKA robotic arms.
In February 2024, OMRON Corporation (Japan) launched TM S Series Collaborative Robots in India. These robots combine faster joints and expanded safety features, making them ideal solutions for improving the efficiency of factories in workspaces shared with humans. They also create a more flexible and productive environment, fostering seamless collaboration between humans and machines.
In March 2022, ABB Ltd. (Switzerland) launched two manufacturing robots, IRB 5710 and IRB 5720. The new robots are suitable for a wide range of production tasks, including material handling, machine tending, and assembly. They also help specific operations in electric vehicle (EV) manufacturing, such as battery module picking and placing, high-precision assembly, and parts handling.
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Industrial Robots Market Assessment—by End-use Industry
Automotive
Electrical & Electronics
Metal & Machinery
Plastic & Chemicals
Oil & Gas
Food & Beverage
Aerospace & Defense
Biotechnology
Healthcare
Other End-use industries
Industrial Robots Market Assessment—by Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Related Reports
Collaborative Robots Market Size, Share, Forecast, & Trends Analysis by Type, Component (Hardware, Software), Payload, Application (Material Handling, Welding & Soldering, Assembling and Disassembling), and End-use Industry (Oil & Gas, Automotive, Food & Beverage, Others) -Global Forecast to 2031 –
Industrial Robotics Market Research Summary
Particulars
Details
Number of Pages
300
Format
PDF
Forecast Period
2024–2031
Base Year
2023
CAGR (Value)
6.8 %
Market Size (Value)
USD 37.1 Billion by 2031
Segments Covered
By Component
Robots
Robot Accessories
Controllers
Software
By Payload
Up to 60 Kg
60 to 100 Kg
100 to 225 Kg
Above 225 Kg
By Application
By End-use Industry
Automotive
Electrical & Electronics
Metal & Machinery
Plastic & Chemicals
Oil & Gas
Food & Beverage
Aerospace & Defense
Biotechnology
Healthcare
Other End-use industries
Countries Covered
Asia-Pacific (China, Japan, South Korea, Taiwan, Singapore, India, Thailand, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific), Europe (Germany, Italy, Sweden, France, Austria, Denmark, Spain, Netherlands, Norway, U.K., and Rest of Europe), North America (U.S. and Canada), Latin America (Mexico, Brazil, and Rest of Latin America), and Middle East & Africa (UAE, Israel, Saudi Arabia, and Rest of Middle East & Africa)
Key Companies
ABB Ltd (Switzerland), Fanuc Corporation (Japan), YASKAWA Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Universal Robots A/S (A Part of Teradyne Inc,) (Denmark), Stäubli International AG (Switzerland), Techman Robot Inc (Taiwan), Denso Corporation (Japan), OMRON Corporation (Japan), HD Hyundai Co Ltd (South Korea), Bosch Rexroth AG (A Part of Robert Bosch GmbH) (Germany), Seiko Epson Corporation (Japan), Dürr Aktiengesellschaft (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), and Franka Robotics GmbH (Germany)
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