2029 Industrial Robotics Market Projection: $32.7 Billion
Meticulous Research®, a leading provider of global market insights, has released its latest report 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."
The report predicts that the global industrial robotics market will expand to $32.7 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029. In terms of volume, the market is projected to grow at a CAGR of 11.2%, reaching 950.1 thousand units by 2029. Key factors driving this growth include the rising adoption of robotics in manufacturing, government incentives for automation, high labor costs in developed economies, and the expansion of small and medium-sized enterprises (SMEs). The automotive and electronics sectors are also increasingly automating their operations, further boosting market growth.
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However, the market faces challenges such as the need for skilled operators to manage advanced robotics systems and concerns about safety in industrial settings.
The report provides a comprehensive breakdown of the global industrial robotics market based on component, payload, application, end-use industry, and geography, offering insights into the competitive landscape and regional trends.
The component segmentation includes robots, robot accessories, software, and controllers, with the robots segment expected to lead the market in 2022. Robots are increasingly being used to perform dangerous and repetitive tasks in manufacturing environments, offering precision, reliability, and 24/7 operation that enhances productivity and reduces human labor.
In terms of payload, the market is divided into up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg. The up to 60 kg segment is anticipated to see the highest growth rate, driven by the increasing use of SCARA and collaborative robots in industries like electronics and healthcare.
The application segmentation includes material handling, assembling & disassembling, welding & soldering, dispensing, processing, machine tending, inspection, and others. The material handling segment is expected to dominate the market in 2022, with robots being used to automate tasks that are dull, repetitive, or dangerous, thereby increasing efficiency and productivity.
By end-use industry, the market is segmented into automotive, electrical & electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharmaceuticals, and others. The automotive industry is expected to hold the largest share in 2022, with industrial robots helping to increase production speed and precision while reducing costs and improving safety.
Geographic Overview:
The global industrial robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to dominate the market due to rising labor costs and increasing automation adoption across industries.
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 F&P 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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