Industrial Robotics Market Size – USD 42.35 Billion in 2021, Growth – at a CAGR of 12.3%, Market Trends – Rapid adoption of automation in various industries
— Emergen Research
VANCOUVER, BC, CANADA, August 15, 2022 /EINPresswire.com/ — According to the most recent analysis by Emergen Research, the size of the worldwide industrial robotics market reached USD 42.35 billion in 2021 and is projected to grow at a revenue CAGR of 12.3% over the forecast period.
One of the key drivers propelling the market’s revenue growth is the quick uptake of automation, IIoT, and AI in industrial manufacturing, along with vision and other sensor systems that make it possible for robots to complete challenging tasks with ease. Furthermore, due to the high premium placed on on-time delivery as well as efficient and economical manufacturing processes, the demand for industrial robots is growing rapidly in warehouses and distribution centres along the logistics and supply chain.
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One of the main drivers propelling market expansion is the increasing demand for industrial robots from manufacturers for the automation of activities, enhanced worker safety, and increased overall production output with reduced waste and expensive operational expenses. For instance, collaborative robots, or Cobots, can be used to apply glue and other adhesives when equipped with dispensing tools, and when equipped with a sanding kit, they can be used to polish objects for a bright and smooth finish. Around 486,800 industrial robot units were shipped globally in 2022, up 27% from the previous year, according to the International Federation of Robotics (IFR).
Additionally, Asia/Australia experienced tremendous growth, with installations rising by 33% to 354,500 units. Sales in the U.S. reached 49,400 units, a 27% rise, and installation of 78,000 units in Europe saw a 15% growth rate.
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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Industrial Robotics market.
Furthermore, the report provides details about the new players entering the market, and entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key players involved:
ABB, FANUC Corporation, YASKAWA Electric Corporation., DAIHEN Corporation, Mitsubishi Electric Corporation, KUKA, DENSO Corporation, NACHI-FUJIKOSHI CORP, Seiko Epson Corporation, and Panasonic Holdings Corporation.
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
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Key Highlights From the Report
In 2021, the SCARA robotics market accounted for a modest sales share since there was an increasing need to cut back on labor-intensive human labour and production-process errors. For pick-and-place or assembly tasks demanding high speed and accuracy, SCARA robots are frequently utilised.
In contrast, SCARA robot operates more quickly and satisfies optional cleanroom requirements. Due to its tiny form, the SCARA robot is well suited for tasks requiring a small field of view and little floor area. This makes it simple to relocate it to temporary or outlying sites. Additionally, the availability of customised products and mixed-model assembly, as well as improved downstream demand coordination, is another driver promoting the growth of this market.
Due to the spike in demand for industrial robots from a variety of industries, including food and beverage, electrical and electronics, automotive, and pharmaceutical, among others, the material handling category accounted for the biggest revenue share in 2021. The need for industrial robots is rapidly rising as a result of the handling and transportation of hazardous chemicals for humans. The need for industrial robotics is rising as both robotic material handling and robotic machine tending systems reliably deliver productivity increases in a variety of applications.
In 2021, the electrical & electronics segment contributed a sizable portion of sales. One of the main elements influencing this segment’s revenue development is the increased need for handling complex consumer electronics, which necessitates more precision during assembly. For both large and small electronics businesses who understand that automation is essential to being globally competitive, industrial robots are excellent. A robot with a soft, precise arm is necessary for the electronics industry to handle small, delicate parts. Industrial robots, like SCARA robots, can produce at high speeds while maintaining this low inertia and outstanding precision.
Emergen Research has segmented the global industrial robotics market based on type, application, end-user industry, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Welding & soldering
Assembling & disassembling
End-User Industry Outlook (Revenue, USD Billion; 2019-2030)
Electrical & electronics
Plastics, rubber & chemicals
Food & beverages
Precision engineering & optics
Metals & machinery
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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