Global Industrial Robotics Market Size & Share Projected to Reach to USD 46.1 Billion by 2030, at 14.2% CAGR Growth: Polaris Market Research

NEW YORK, Nov. 16, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Industrial Robotics Market Share, Size, Trends, Industry Analysis Report, By Type (Traditional, Collaborative); By Payload; By Component; By Application; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global industrial robotics market size & share was valued at USD 14.1 billion in 2021 and is expected to reach USD 46.1 Billion by 2030, growing at a CAGR of 14.2% during the forecast period.

What is Projected Growth in Size & Share of Industrial Robotics Market?

Industrial robotics are robot systems designed to perform tasks automatically in the manufacturing industry. They are automated, reprogrammable, controllable, and capable of movement on three or more axes. Several applications of these robotics are welding, painting, packaging and labeling, product inspection, testing, assembly, and disassembly. The actions of these robots are handled by a combination of programming software and controls.

Industrial robotics provide a variety of benefits like accuracy, cost savings, flexibility, faster-operating speeds, low labor costs, smaller sizes, improved quality, and increased manufacturing efficiency. These factors are expected to drive market growth. Also, the lack of expert labor in manufacturing coupled with the rising demand for cobots across several industries is propelling the demand for industrial robotics market.

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Our Free Sample Report Includes

• Report introduction, overview, and in-depth industry analysis
• Breakdown data by regions, type, players, and applications
• Competitive landscape and leading competitor market shares
• 110+ pages research report
• Offers chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report covers leading players with their business strategies
• Factors and fact research methodology

Top Market Players Operating in the Global Market Are:

• Abb Ltd.
• Brenton LLC
• Comau S.P.A.
• Denso Robotics
• Doosan Robotics Inc.
• Fanuc
• Kawasaki Heavy Industries Ltd.
• Krones AG
• Kuka AG
• Mitsubishi Electric Corp.
• Nachi-Fujikoshi Corp.
• Omron Corporation
• Panasonic Corporation
• Precise Automation
• Rethink Robotics GmbH
• Schneider Electric S.E.
• Techman Robot Inc.
• Universal Robots
• Yaskawa Electric Corporation

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Growing demand for industrial robotics favoring the market growth

A surge in the use of industrial robots across several sectors, such as automotive, pharmaceutics, cosmetics, food & beverages, and others, is majorly driving the growth of the market. Rising consumer goods demand, growing public awareness of industrial mishaps, and employee safety are some of the industrial robotics market trends boosting industry growth. The increasing shift from manual to automated processes has led to an increase the demand for industrial robots, accelerating the market expansion. These robots have the ability to improve workflow accuracy and efficiency, which fuels their demand.

Moreover, developments in artificial intelligence and self-programming robots are estimated to augment the industrial robotics market size during the forecast period. In addition, expanding requirements for industrial robots because of increasing automation investments, a growing number of small enterprises, and strong regulatory guidelines to handle hazardous materials and products are further factors supposed to stimulate the growth of the market.

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Recent developments

In March 2022, FANUC launched the new CRX-5iA, CRX-20iA/L, and CRX-25iA collaborative robots. The newest CRX cobots are an addition to FANUC's line of CR and CRX cobots, which currently includes 11 cobot model variations to handle products from 4 kg to 35 kg.

Segmental Analysis

• Collaborative industrial robots type held the highest market share in 2021

Based on type, the collaborative industrial robots segment dominated the industrial robotics market sales as these robots can collaborate with people in a shared workspace. These robots are used in various applications such as packaging, screw driving, pick-and-place, assembly, lab testing, and quality inspection. Collaborative robots have the ability to automate work quickly, and they can also be taught to work instead of being programmed by an operator. These benefits aid enterprises increase manufacturing productivity while improving workplace safety.

• 16.01-60.00 kg payload is anticipated to account for the biggest revenue share in 2021

In terms of payload industrial robotics market segmentations, the 16.0- 60.00 kg payload segment is likely to command the market in 2021. This category of robots includes collaborative, SCARA, and articulated robots. These type of robots are majorly used in the automotive industry for various applications like arc welding, spot welding, painting, and many others. The growing demand for automation in the electrical and electronics industry is the prominent factor driving the segment's growth.

• Robotic accessories are anticipated to generate the biggest share in 2021

On the basis of component, robotics accessories are expected to generate the major industrial robotics market share in 2021. In robotics accessories, end-accessories have the capacity to raise productivity and get over typical industrial obstacles, which fuels the segment growth in the market. Also, rising technological developments in end-effectors have led developments in robotics accessories.

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Industrial Robotics Market: Report Scope

Geographic Overview

• Asia Pacific accounts for the highest market share

Based on geography, Asia-Pacific contributed the largest share of the market. This can be attributed to the increasing labor costs, which have mandated the automation of manufacturing processes to maintain a cost advantage. Further factors contributing to the regional growth of the industrial robotics market involve low production costs, average leakage, safety guidelines, and easy access to economic labor.

Moreover, rising government initiatives for foreign direct investment (FDI) coupled with automation in the APAC region are expected to boost the industrial robotics industry growth in Asia Pacific. In addition, a surge in automotive and manufacturing industries in China & India is flourishing the demand.

Browse the Detail Report "Industrial Robotics Market Share, Size, Trends, Industry Analysis Report, By Type (Traditional, Collaborative); By Payload; By Component; By Application; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/industrial-robotics-market 

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Polaris Market Research has segmented the industrial robotics market report based on type, payload, component, application, end-use industry and region:

By Type Outlook

• Traditional Industrial Robots
• Collaborative Industrial Robots

By Payload Outlook

• Up to 16.00 KG
• 16.01- 60.00 KG
• 60.01- 225.00 KG
• More than 225.00 KG

By Component Outlook

• Robot Arms
• Robot Accessories
• Additional Hardware
• System Engineering
• Software & Programming

By Application Outlook

• Handling
• Assembling & Disassembling
• Welding & Soldering
• Dispensing
• Processing
• Others

By End-Use Industry Outlook

• Automotive
• Electrical & Electronics
• Metals & Machinery
• Plastic, Rubber & Chemicals
• Food & Beverages
• Precision Engineering & Optics
• Pharmaceuticals & Cosmetics
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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SOURCE Polaris Market Research