Industrial Robotics Market Value to Hit US$ 142.8 Billion in 2032, At CAGR 11.4%

According to, the industrial robotics market size is expected to reach USD 142.8 billion by 2032 and it is progressing at a CAGR of of 11.4% within a forecast period from 2023 to 2032, Owing to High Demand in Automotive Industries for Material Handling

New York, March 09, 2023 (GLOBE NEWSWIRE) -- The global industrial robotics market was valued at around USD 48.5 billion in 2022 and is expected to reach approximately USD 142.8 billion in 2032, growing at a CAGR of slightly above 11.4% between 2023 and 2032. An industrial robot is a type of mechanical machine which automatically perform production-related tasks in the industry. Industrial robots are reprogrammable and they can be reprogrammed many time depend on industrial needs.

global industrial robotics market

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Key Takeaway:

  • By Robot Type, in 2022, the articulated robots segment has generated largest revenue share in 2022.
  • By Application, the material handling segment has dominated the market and it is accounted for largest global revenue of 45% in 2022.
  • By End-Use Industry, the automotive segment had dominated the market and it is accounted for largest global revenue of 43% in 2022.
  • In 2022, Asia Pacific dominated the market with the highest revenue share of 49%.
  • North America region is expected grow at a significant CAGR from 2023-2032.

Industrial robots contain sensors, microphones, cameras that keep robot aware about industrial atmosphere. Industrial robots help to perform easy and efficient processes in manufacturing industries.

Factors affecting the growth of the industrial robotics market

Several factors can affect the growth of the industrial robotics market. Some of these factors include:

Top Trends in Global Industrial Robotics Market

Consumers preference is increasing for purchasing products online, which is increasing business for ecommerce. Implementation of automated robotics system is the priority of distribution centres which is driving demand for robots.

For manufacturing processes adoption of automation in automotive industries is increasing which is the primary factor for increasing demand in automotive sector.

Emergence of industry 4.0 has fuelled the developments of new technologies such as AI enabled robots. Such advanced technologies help in safety and production capacity. Due to this companies are started investing in robotic systems.

Market Growth

The global industrial robotics market is driven by the significant use in material handling in various manufacturing industries for material handling.

Market growth is also attributed by increasing need for industrial robots due to rise in small enterprises, and strict government regulations on handling of hazardous materials and products.

Collaborative robots are work with human beings through interaction in shared workforce. They have ability to easily automate the work hence are used in variety of applications such as packaging. Thus growing demand for collaborative robots is main factor for market growth.

Regional Analysis

The industrial robotics market was dominated by Asia Pacific, which acquired the most significant revenue share of 49% in 2022. Growth in this region can be attributed to increased automation, especially in Japan, China, and India. The use of robots in industrial applications is increasing in region in order to fulfil demand. Also, growing manufacturing industries in emerging economies in this region also driving the market growth.

North America is expected to show significant growth in industrial robotics market during forecast period owing to advancements in R&D, and high adoption of technologies.

Manufacturers are now focusing on adopting collaborative robots in Europe, which is predicted to boost the market in Europe Region.

Competitive Landscape

Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several industrial robotics market companies are concentrating on expanding their existing operations and R&D facilities.

Some of the major players include YASKAWA Electric Corporation, Mitsubishi Electric Corporation, KUKA AG, Comau SpA, KUKA Robotics Corporation, FANUC American Corporation, DENSO CORPORATION, Kawasaki Heavy Industries Ltd., Omron Corporation, DAIHEN Corporation, Seiko Epson Corporation, Panasonic Corporation, Epson America, Inc., and Other Key Players.

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Scope of the Report

Report AttributeDetails
Market Value (2022)USD 48.5 Billion
Market Size (2032)USD 142.8 Billion
CAGR (from 2023 to 2032)11.4%
APAC Revenue Share49%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Market Drivers

Rapid growth is being experienced by high demand in industries such as pharmaceuticals, consumer electronics, plastic industries, and automotive industry. Industrial robots help companies to reduce waste and remove the possibility of errors caused by human. The shortage of skilled manpower and high labor costs to manage the processes are forcing companies to adopt automation solutions which is driving need for industrial robots in market. Also introduction to smart factories increase demand for industrial robots.

Market Restraints

High installation costs and integration skills required for the initial setup of industrial robots limiting adoption of industrial robots in industries. The initial investment and maintenance costs for use of robotic systems are high, which is restraining the market growth. Also, the lack of skilled professionals for handling robots hinders the global industrial robotics market growth.

Market Opportunities

The industrial robotics industry is also boosted due to growing automotive industries in several emerging economies. The companies have started concentrating at the automation of operational processes to deliver high-quality products, save time, increase productivity, and reduce costs, to meet the competition in market which is expected to create lucrative growth opportunities in global industrial robotics market.

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Report Segmentation of the Industrial Robotics Market

Robot Type Insight

Based on robot type, the articulated robot segment is dominant in market with largest market share and is expected to continue its dominance during the forecast period owing to ability to conduct exact motions repeatedly. The significant use of articulated robots in the food & beverages and pharmaceutical industries is driving this segment's growth in the robotics market.

Application Insight

On basis of application the material handling segment is dominant in market with market share of 45% and will remain dominant during forecast period owing to high demand for material handling in the food and beverages industry, pharmaceuticals, and electrical industries. It plays important role in industries where chemicals are concentrated, and hazardous.

End-Use Industry insight

Based on end-use industry automotive segment was dominant in market with largest market revenue share of 43% in 2022. Segment is dominant due to industrial robots have large applications in loading and unloading heavy goods, precision in handling, and quick assembling of fine parts.

Recent Development of the Industrial Robotics Market

  • In February 2022, Comau and LUVO introduced wearable robotics solutions to enhance operator work efficiency.
  • May 2021, Kawasaki Heavy Industries, Ltd. And Sony Group Corporation announced an agreement to establish a new company to operate remote robot platform businesses.

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Market Segmentation

Based on Robot Type

  • Articulated
  • Cylindrical
  • Parallel
  • Others

Based on Application

  • Material Handling
  • Welding & Soldering
  • Assembling & Disassembling
  • Palletizing, Packaging
  • Painting & Dispensing
  • Milling
  • Cutting
  • Processing
  • Others

Based on End-use industry

  • Automotive
  • Electrical & Electronics
  • Aerospace & Defense
  • Plastic
  • Rubber
  • Chemicals
  • Food & Beverages
  • Healthcare & Pharmaceuticals
  • Metals & Mining
  • Others

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

  • YASKAWA Electric Corporation
  • Mitsubishi Electric Corporation
  • Comau SpA
  • KUKA Robotics Corporation
  • FANUC American Corporation
  • Kawasaki Heavy Industries Ltd.
  • Omron Corporation
  • DAIHEN Corporation
  • Seiko Epson Corporation
  • Panasonic Corporation
  • Epson America, Inc.
  • Other key Players

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