DUBAI, United Arab Emirates, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The global Industrial Robotics Market is estimated to surpass US$ 96.82 Bn by the end of 2028. A new market research report by Future Market Insights on the Industrial Robotics Market includes global industry analysis 2014–2018 and opportunity assessment 2022–2029. The report investigates the industrial robotics market and provides critical insights for the forecast period of 2022-2029.
| Attribute | Details | |
| Industrial Robotics Market Estimated Size in 2022 | US$ 33.75 Bn | |
| Industrial Robotics Market Projected Size in 2028 | US$ 96.82 Bn | |
| Industrial Robotics Market Historical CAGR (2013-2021) | 12.7 | % |
| Industrial Robotics Market Value-based CAGR (2022-2028) | 19.2 | % |
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As per the findings of the report, the global industrial robotics market is projected to indicate substantial growth over the forecast period due to multiple driving factors such as adoption of Internet of Things (IoT) in industries and growing digitalization of manufacturing industry across geographies.
The global industrial robotics market was valued at ~US$ 17 Bn in 2018 and is estimated to increase at a CAGR of ~18% between the forecast periods of 2019 and 2029. This growth is driven by the increasing applications of industrial robotics in the automotive industry, electrical/electronics industry, and auxiliary industry, among others.
Furthermore, macroeconomic factors such as growing population, rapid industrialization, and urbanization, are some of the factors driving the growth of the industrial robotics market. The automotive industry in East Asia has gained a considerably positive momentum over the past years, which has increased the adoption SCARA robots and articulated robots in the manufacturing process and is estimated to indicate the rewarding growth of industrial robotics market in the East Asia region.
Automotive Industry to Remain Key End-use Industry of Industrial Robotics
The global market of industrial robotics has been segmented on the basis of different types of industrial robots, their multiple applications, end use industries, and regions such as North America, South Asia, Europe, East Asia, and the Rest of the World.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2028 |
| Historical Data Available for | 2013-2021 |
| Market Analysis | US$ Bn for Value |
| Key Regions Covered | North America, Europe, South Asia, East Asia, and Rest of the World |
| Key Countries Covered | The U.S., Canada, Germany, the U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Product Type, Application, End Use, and Region |
| Key Companies Profiled | • Yaskawa Electric Corporation • FANUC Corporation • Kawasaki Heavy Industries Ltd • Kuka AG • Mitsubishi Electric • Teradyne Inc. (Universal Robots) • ABB Ltd. • Yamaha Motor Co., Ltd. • Hirata, Corporation • Denso Wave Incorporated • Toshiba Machine Co. Ltd. • OMRON Corporation • Others |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
By product type, the articulated robots segment is estimated to hold a significant share of the global industrial robotics market in terms of value. This has mainly resulted from the rising productivity in manufacturing processes and improving quality of products. On the basis of end use, the automotive industry is estimated to hold substantial market share of the industrial robotics market in terms of value. This is driven by digitalization of manufacturing processes. Moreover, it is expected that the application of industrial robotics in the electrical/electronics industry will be prominent throughout the forecast period.
On the basis of application, the handling operations segment is projected to consume majority share of the global industrial robotics market value. Also, the welding segment is estimated to project lucrative growth in the industrial robotics market over the forecast period.
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Industrial Robotics Market: Vendor Insights
The report indicates some of the prominent market players, who are recognized as leaders in the global industrial robotics market. These key market players in the global industrial robotics market are Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd, Kuka AG, Mitsubishi Electric, Teradyne Inc. (Universal Robots), ABB Ltd., Yamaha Motor Co., Ltd., Hirata, Corporation, and Denso Wave Incorporated, among others.
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