The industrial robots market in Europe is expected to attain a valuation of $1,299.1 million in 2023. The growth of this market is primarily driven by Germany, which holds a significant advantage in industrial automation, particularly within the automotive sector.
The worldwide industrial robots market (産業用ロボット市場) is set to achieve a value of $17,925 million in 2023, with a projected growth rate of 12.1% annually, ultimately reaching $56,171.4 million by the close of 2033.
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Key Takeaways from Market Study
- The global industrial robot market is projected to grow 12.1% and reach US$ 56,171.4 million by 2033
- The market witnessed 8.9% CAGR between 2018 and 2022
- The industrial robot dominated the market with US$ 15,755.5 million valuations in 2022
- Automotive under end use segment is expected to have market share of 20.3% by the end of 2023
- East Asia will dominate the market with 23.4% market share in 2023
Key Companies Profiled
- Mitsubishi Electric Corporation
- ABB
- Fanuc
- Kuka AG
- Yaskawa
- Comau
- Epson
- Kawasaki Robotics
- Staubli International AG
- Universal Robots
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.
Market Development
In order to create a better technological architecture that allows more flexibility and efficiency, the major market participants have been investing in R&D. Throughout the medium- to long-term forecast period, these developments will fuel the industrial robot market's expansion.
For instance, google is planning to launch their Google’s worker robots with personality where engineers will be able to download personalities through cloud based systems. There robot will be capable of storing multiple personality while interacting with humans.
Another development is multi-tasking robots which will be used in restaurants chains and it is develop by momentum machines on a multi-tasking bot. the robot is capable enough to prepare hamburger in less than 10 seconds. These advancements in the robot industry is pacing the installation of robots across end use vertical.
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
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.
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