Portland, OR, May 30, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial robotics market was estimated at $37.87 billion in 2020 and is expected to hit $116.84 billion by 2030, registering a CAGR of 11.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in demand for automation, high labor cost and dearth of skilled human workforce, rise in investments in R&D activities, and availability of affordable and energy-efficient robots drive the growth of the global industrial robotics market. On the other hand, High initial investment and installation costs impede the growth to some extent. However, rise in application areas, growth in emerging economies, and evolving robotics technology are expected to create lucrative opportunities in the industry.
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Covid-19 Scenario-
- The outbreak of the pandemic gave you to the closure of most of the industrial units across the world, which resulted in shortage of demand for industrial robotics, thereby impacting the market negatively, especially during the initial period.
- However, the market has already started recovering at a quick pace and is expected to cover up for the losses really soon.
The global industrial robotics market is analyzed across type, end-user industry, function, and region. . Based on type, the articulated segment accounted for the major share in 2020, holding more than two-fifths of the global market. The cylindrical segment, however, would exhibit the fastest CAGR of 13.1% throughout the forecast period.
Based on industry, the electrical & electronics segment generated the highest share in 2020, accounting for nearly one-third of the global market. The food & beverages segment, on the other hand, would exhibit the fastest CAGR of 12.8% from 2021 to 2030.
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Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering nearly three-fifths of the global market. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 13.2% by the end of 2030.
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Leading Players:
DAIHEN Corporation, Denso Corporation, Kobe Steel, Ltd., Epson America, Inc., ABB, Fanuc Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Kuka AG, and Mitsubishi Electric Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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