Meticulous Research®, a leading authority in global market analysis, has issued its latest study, titled "Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029."
According to the report, the global industrial robotics market is poised to reach $32.7 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029. Additionally, the market is projected to experience rapid expansion in terms of volume, with a forecasted CAGR of 11.2%, reaching 950.1 thousand units by 2029. Several factors are driving this growth, including the increasing utilization of robots in the manufacturing sector, governmental support for industrial automation, high labor costs in regions such as North America and Europe, and the growth of small and medium-sized enterprises (SMEs) worldwide. The ongoing automation in key industries like automotive and electronics, along with the rising focus on minimizing human labor, are expected to further boost the market’s potential.
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However, the industrial robotics market faces obstacles such as the need for skilled operators and the safety challenges associated with robotic systems.
The report provides a comprehensive segmentation of the global industrial robotics market based on components, payload, application, end-use industry, and geographic region. It also evaluates the competitive landscape and offers insights into regional and country-specific trends.
The market is divided into four main components: robots, robot accessories, software, and controllers. In 2022, the robots segment is predicted to account for the largest share, reflecting the growing demand for robots that can execute repetitive, hazardous, or labor-intensive tasks with high precision and reliability. The continuous, 24/7 operational capability of robots in harsh or demanding environments contributes to higher productivity and cost savings, particularly by reducing labor costs and improving workplace safety.
The payload segmentation includes up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg categories. Among these, the up to 60 kg segment is expected to witness the fastest growth, driven by the use of SCARA, articulated, and collaborative robots. These robots are widely used in the electronics industry for tasks like assembly and handling, where high speed and cleanroom capabilities are essential. SCARA robots, in particular, are known for their versatility, making them suitable for industries with limited floor space or stringent cleanliness requirements.
When segmented by application, the market includes material handling, assembly disassembly, welding soldering, dispensing, processing, machine tending, and inspection. The material handling segment is anticipated to hold the largest market share in 2022, as material handling robots are increasingly adopted to automate tedious or dangerous production line tasks, improving efficiency and reducing errors.
The end-use industry segmentation covers automotive, electrical electronics, metal machinery, plastics chemicals, food beverage, healthcare pharmaceuticals, and other sectors. The automotive industry is expected to lead the market in 2022, as the use of industrial robots becomes more prevalent in automating various manufacturing processes, enabling higher production rates, improved quality control, and significant cost savings.
Geographic Overview:
In terms of geography, the global industrial robotics market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. Asia-Pacific is projected to dominate the market in 2022, with the region’s manufacturers increasingly turning to automation to offset rising labor costs and maintain a competitive edge in the global market.
Key Players:
The key players profiled in the global industrial robotics market study include ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot Automation CO., Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and FP Robotics AG (Switzerland).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of component, payload, application, end-use industry, and geography?
- What is the historical market size for industrial robots across the globe?
- What are the market forecasts and estimates for the period 2022–2029?
- What are the major drivers, restraints, opportunities, and challenges in the global industrial robots market?
- Who are the major players in the market, and what are their market shares?
- How is the competitive landscape for the global industrial robots market?
- What are the recent developments in the global industrial robots market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global industrial robots market, and how do they compete with other players?
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