Press release
Industrial Robotics Market growth prediction, consumption & demand by 2030
The Industrial Robotics Market size is expected to grow from US$ 14.86 billion in 2022 to US$ 30.47 billion by 2030; it is estimated to record a CAGR of 9.39% from 2022 to 2030.According to the President of the International Federation of Robotics (IFR), industrial robot installations recovered strongly worldwide after the onset of the COVID-19 pandemic, making 2021 the most successful year for the robotics industry. The demand for industrial robots rapidly increased across various industries due to advancements in automation technology and the increasing need for efficient and cost-effective manufacturing processes. In 2018, there were 422,000 installations, which increased by 22% to reach 47,182 units in 2021. The majority of industrial robotic units in the globe are deployed in the five leading industrial nations, namely the US, Germany, Japan, China, and South Korea. The robot sector in China is one of the most rapidly expanding industries. Despite recent economic setbacks due to the COVID-19 pandemic, China continues to record significant growth in the industrial robotics market.
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Analysis of the Top Market Players:
1. ABB Ltd
2. Yaskawa Electric Corporation
3. Nachi-Fujikoshi Corp
4. Fuji Robotics
5. KUKA AG
6. Universal Robotics AS
7. Honeybee Robotics
8. COMAU SPA
9. Clearpath Robotics Inc
10. Staubli International AG
In this report, the market has been segmented on the basis of:
Type
- Articulated
- Cartesian
- SCARA
- Collaborative
- Parallel
Function
- Soldering and Welding
- Material Handling
- Assembling and Disassembling
- Painting and Dispensing
- Milling
- Cutting and Processing
Industry
- Automotive
- Medical & Pharmaceuticals
- Electrical & Electronics
- Rubber & Plastics
- Metal & Machinery
- Food & Agriculture
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The industrial robotics market in North America has been growing steadily, driven by the presence of a strong manufacturing sector and the adoption of advanced automation technologies. The US has been the major contributor to the market in the region, as well-established industries such as automotive, electronics, and logistics are significant end users of industrial robots. Europe has also experienced substantial growth in the industrial robotics market.
The robust automotive industry in Europe is a major driver of adopting industrial robotics, with other sectors such as electronics, healthcare, and food & beverages also showing increased demand. Moreover, the MEA and SAM have witnessed a gradual increase in the adoption of industrial robotics. These regions are expected to offer growth opportunities in the coming years as industries in these areas are increasingly recognizing the benefits of automation.
According to the latest World Robotics Report 2022, new industrial robots were installed in workplaces worldwide in 2021; recording an all-time high value. This marks a 31% year-on-year increase and a 22% growth above the pre-pandemic record of robot installation in 2018. The global stock of operating robots has reached a new high of over 3.5 million units by 2021. Further, according to the President of the International Federation of Robotics, the use of robotics and automation is expanding at an incredible rate, and annual robot installations have more than doubled in six years from 2015 to 2021.
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