Luton, Bedfordshire, UK, September 13, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited, has completed and published the final copy of its detailed market research report. of industrial robots.
The global industrial robot market size is estimated to be worth USD 47.54 billion in 2020 and is projected to reach USD 108.48 billion by 2029, registering a CAGR of 9.6%.
Industrial robots are classified based on their physical characteristics (reach, weight, etc.), human interaction, mobility, and degree of autonomy. Autonomous industrial robots The International Federation of Robotics (IFR) estimates that around 2.1 million autonomous industrial robots were installed worldwide in 2017, of which 381,000 were shipped.
Automobiles, OEMs and a growing number of automotive suppliers are the largest sector with 126,000 vehicles, followed by the electrical and electronics industry with 121,000 vehicles. — China is its largest regional market with 138,000 units. The top 5 countries (China, South Korea, Japan, Germany, and the US) account for more than 70% of the market.
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In October 2020, ABB announced the acquisition of Codian Robotics (The Netherlands), a leading provider of delta robots used primarily for high-precision pick-and-place applications. Codian Robotics’ offering includes a line of hygienic design, ideal for hygiene-sensitive industries, including food and beverage and pharmaceutical. With the acquisition, ABB is expected to increase its offering of delta robots.
In September 2020, KUKA (Germany) announced its new SCARA robots under the KR SCARA line that excel in applications such as small parts assembly, material handling, and inspection tasks with a 6kg payload. The robots will be offered primarily to cost-sensitive markets.
The impact of COVID-19 is driving the demand of the industrial robot treatment market.
The governments of key countries such as India, China, Japan, France, Indonesia and Singapore are offering various incentives to help their industrial sectors better deal with the problems that the COVID-19 pandemic has posed. As a result, industries are better prepared to invest in the financial resources required to integrate robots into industrial settings. The demand for collaborative robots is expected to increase across all industries, accelerating the adoption of automation. These robots are aimed at both small and medium-sized businesses (SMEs) and large corporations. These robots are being used for both new and established applications due to their versatility, resulting in widespread adoption.
regional overview– Asia Pacific countries are expected to present good opportunities for market players to trade industrial robot products in these regions.
In the coming years, Asia Pacific is expected to become the leading player in the global market. This can be attributed to increased automation, particularly in Japan, China and India. In addition, as the population and disposable income of people increases, the demand for consumer goods and other items also increases, resulting in greater production capacity and a larger market. Similarly, there is a growing need for bespoke cars and machines, which require high precision and production capacity. The use of robotics in industrial applications is increasing to meet demand.
Product Portfolio: The Company has a portfolio of products in the Industrial Robots Market that includes:
Industrial robot market: Increasing competition among key players, increasing horizontal and vertical expansion are expected to drive the growth of Industrial Robots market.
key players. main players operating the global industrial robot market It includes ABB, Yaskawa, Fanuc, Kuka, Mitsubishi Electric, Kawasaki Heavy Industries, Denso, Nachi-Fujikoshi, Seiko Epson, and Dürr.
Scope of Industrial Robots Market: report discount
|Industrial robot market|
|Industrial Robot Market Report Coverage||Details|
|Base Year:||2021||Forecast period:||2022-2029|
|Historic information:||2017 to 2020||Market size in 2020: 9.6%||$47.54 billion|
|Forecast period 2022 to 2029 CAGR:||9.6%||Market size in 2029:||$108.48 billion|
|Key market segments:||By type||
Examine detailed research information with TOC:
- Companies in the Industrial Robots market
- Suppliers of the Industrial Robots Market
- System integrators and third-party providers
- government bodies
- technology investors
- Research institutes and organizations
- Market studies and consulting companies
- End users/business users
- Managed service providers
- value added resellers
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