Industrial Robots Market Worth $32.73 Billion and 950 Thousand Units by 2029 - Exclusive Report by Meticulous Research®

Industrial Robots Market by Type (Cartesian Robots, SCARA Robots, and Others), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Component, Application, End–use Industry, and Geography — Global Forecast to 2029

/EIN News/ -- Redding, California, May 18, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Industrial Robots Market by Type (Cartesian Robots, SCARA Robots, and Others), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Component, Application, End–use Industry, and Geography - Global Forecast to 2029,’ the global industrial robots market is projected to reach $32.73 billion by 2029 at a CAGR of 10.3% from 2022 to 2029. By volume, this market is expected to reach 950 thousand units by 2029, growing at a CAGR of 11.2% during the forecast period of 2022-2029.

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Industrial robots are mechanical machines programmed to automatically perform production-related tasks in industrial environments. Industrial robots are a form of flexible automation since they are reprogrammable and can be used in various types of robotic applications. An industrial robot is an automatically controlled, reprogrammable, multipurpose manipulator, which is programmable in three or more axes. An Industrial robot consists of five main components, a controller, sensors, a robotic manipulator, an end-effector, and a drive.

The growth of this market is driven by the increasing adoption of robots in the manufacturing sector, government support and policies for the adoption of industrial robots, high labor cost in North America and Europe, and the increasing number of SMEs globally. Furthermore, rising automation across the automotive and electronics sectors and increased focus on reducing human labor in industries are expected to create significant opportunities for the players operating in the industrial robots market. However, the need for highly skilled operators and the safety issues of industrial robots in industries pose challenges to the growth of this market.

The Impact of COVID-19 on the Industrial Robots Market

The outbreak of the COVID-19 pandemic drastically impacted several manufacturing and processing industries globally. The industries severely affected include oil & gas, construction machinery, rubber & plastic machinery, and power generation. These industries were severely impacted due to changes in consumer behavior, low production, and dependency on end-use markets and are expected to recover slowly. Some moderately impacted industries include mining, robotics, building technology, electronics, paper & pulp, and processing equipment. These industries are expected to make a speedy recovery due to the broad range of applications they cater to. The least impacted industries include agricultural machinery, food & beverage processing & packaging, and medical & scientific manufacturers, as they provide essential goods globally.

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The top players in the industrial robotics market are headquartered in Japan and witnessed a major decline in their 2019-2020 revenue. For instance, in March 2020, FANUC (Japan) announced that its ROBOT division revenue witnessed a decline of 6.9% in 2019 compared to 2018-2019. The COVID-19 pandemic led to a global supply chain disruption and reduced installation of industrial robots in various key industries, such as automotive, electrical and electronics, and metals and machinery.

The pandemic severely impacted the industrial sector due to the reduced consumption of high-cost products and the consumers’ inclination to spend on only the most essential goods & services. During the nationwide lockdowns, consumers restricted their spending on consumer goods, high-cost electronics, textiles, automobiles, and machinery, which impacted the major application sectors for the industrial automation market. With countries resuming trade and economic activity and stability in consumer lifestyles, the spending on these products and services is expected to increase, boosting the demand for automation solutions in the coming years. The market is expected to recover in 2022 due to restrictions on the volume of human labor allowed at manufacturing facilities.

The industrial robots market is segmented based on type, payload, component, application, end-use industry, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the industrial robots market is segmented into cartesian robots, SCARA robots, articulated robots, cylindrical robots, delta robots, polar robots, and collaborative robots. In 2022, the articulated robots segment is expected to account for the largest share of the industrial robots market. The major factors attributed to the growth of this segment include its crucial role in the automotive industry for various tasks, such as handling, assembling & disassembling, welding, dispensing (gluing and painting), and processing (cutting and polishing) as well as spot welding and painting. Additionally, the outbreak of the COVID-19 pandemic has resulted in increased demand for testing and production wherein articulated robots are deployed to achieve seamless automation across manufacturing processes in the pharmaceutical sector, driving the growth of this segment.

Based on payload, the industrial robots market is segmented into up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg. The up to 60 kg segment is expected to grow at the highest CAGR during the forecast period. This category includes SCARA robots, articulated robots, and collaborative robots. The rapid growth of the up to 60 kg segment is attributed to the increasing need for automation in the electrical and electronics industry for assembly and handling applications where SCARA robots are extensively used. Generally, a SCARA robot can operate at a higher speed and with optional cleanroom specifications. By design, the SCARA robot suits applications with a smaller field of operation, where floor space is limited. In addition, the compact layout makes them relocatable in temporary or remote applications. SCARA robots can be particularly used in industrial applications which require a clean and hygienic environment, such as the food and beverage industries.

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Based on component, the industrial robots market is segmented into robotic arms, robot accessories, additional hardware, and software. The robot accessories segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its capability to enhance productivity and overcome common obstacles in manufacturing. Technological innovation has brought about significant advancements in end-effectors. These advancements in end-effectors have been partially fueled by the need to attain dexterous manipulation in industrial robots for their enhanced functioning, particularly in pick-and-place operations. In the future, end-effectors are expected to achieve a higher level of technological sophistication as machine learning software, and safety features are increasingly being combined within the End of Arm Tools (EOAT) coupled with the ability to adapt to its environment using machine vision.

Based on end-use industry, the industrial robots market is segmented into automotive, electrical/electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharma, and other end-use industries. In 2022, the automotive segment is expected to account for the largest share of the industrial robots market. The growth of this segment is attributed to the benefits offered by industrial robots in the automotive industry, such as cost-effectiveness, higher efficiency, safety, and speed & precision. Using robots allows car and automotive component makers to accelerate production, reduce costs, improve quality, and enable the safety of workers.

Based on geography, the industrial robots market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the industrial robots market. The growth of this regional market is driven by the increasing labor costs in Asia-Pacific, driving manufacturers to automate the manufacturing processes to maintain their cost advantage. Additionally, Asia-Pacific is poised to retain a strong market position in the industrial robots market due to factors such as cheap manufacturing costs, availability of cheap labor, high safety standards, and government initiatives to accelerate foreign direct investments (FDIs).

Some of the key players operating in the industrial robots 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), NACHI-FUJIKOSHI CORP. (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), b+m surface systems GmbH (Germany), Industrial Control Repair, Inc. (U.S.), IRS Robotics (Netherlands), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO.,Ltd (China), RobotWorx (U.S.), Techman Robot Inc (Taiwan), Rethink Robotics GmbH (Germany), FRANKA EMIKA GmbH (Germany), F&P Robotics AG (Switzerland), and Bosch Rexroth AG (Germany).

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Scope of the Report

Industrial Robots Market, by Type

• Cartesian Robots
• SCARA Robots
• Articulated Robots
• Cylindrical Robots
• Delta Robots
• Polar Robots
• Collaborative Robots

Industrial Robots Market, by Payload

• Up to 60 kg
• 60–100 kg
• 100–225 kg
• Above 225 kg

Industrial Robots Market, by Component

• Robotic Arms
• Robot Accessories
  • End Effector
    • Welding Guns
    • Grippers
    • Tool Changers
    • Clamps
    • Suction Cups
    • Others (Deburring, Milling, Soldering, Painting Tools, and Screwdrivers)
  • Controllers
  • Drives
  • Vision Systems
  • Sensors
  • Power Supply
• Additional Hardware
  • Safety Fencing
  • Fixtures
  • Conveyors
• Software

Industrial Robots Market, by Application

• Material Handling
  • Palletizing & Depalletizing
  • Stacker
  • Bucket elevator
  • Grain elevator
• Assembling & Disassembling
• Welding & Soldering
  • MIG Welding - Gas Metal Arc Welding (GMAW)
  • TIG Welding - Gas Tungsten Arc Welding (GTAW)
  • Stick Welding - Shielded Metal Arc Welding (SMAW)
  • Flux Welding - Cored Arc Welding (FCAW)
  • Energy Beam Welding (EBW)
  • Atomic Hydrogen Welding (AHW)
  • Gas Tungsten-Arc Welding
  • Plasma Arc Welding
• Dispensing
• Processing
• Machine Tending
  • Grinding
  • Milling and Turning
  • Injection Molding
  • Other Applications
• Inspection
  • Laser Inspection
  • Leak Tests
  • Flow Tests
  • Dimensional Checks
  • Vision Systems
• Other Applications (Inspection, Casting, Molding)

Industrial Robots Market, by End-use Industries

• Automotive
• Electrical/Electronics
• Metal & Machinery
• Plastic & Chemicals
• Food & Beverage
• Healthcare
• Biotechnology
• Oil & Gas
• Aerospace & Defense
• Paper & Pulp
• Other End-use Industries

Industrial Robots Market, by Geography

• Asia-Pacific (APAC)
  • China
  • Japan
  • South Korea
  • India
  • South Korea
  • Taiwan
  • Singapore
  • Thailand
  • Rest of Asia-Pacific
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Austria
  • Rest of Europe (RoE)
• North America
  • U.S.
  • Canada
• Latin America
• Middle East & Africa

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