Fastest Growing Market:
The industrial robotics market was valued at USD 20.24 billion in 2019 and is expected to reach USD 42.34 billion by 2025, at a CAGR of 12.15% over the forecast period (2020-2025). Industrial robots play a crucial role in manufacturing industrial automation, with many core operations in industries being managed by robots. With economic growth across regions, the growth of e-commerce, electronics, and the automotive industry, among others has been on the rise.
- Increased demand across economies, product manufacturers are adopting robots to automate some of the repetitive processes. According to the Robotic Industries Association, more than 250,000 industrial robots had been installed in the United States alone, which gives an estimate of the penetration of industrial robots.
- The industrial robots market has been witnessing a huge demand over the past decade, owing to the rising adoption of smart factory systems, of which these robots play a vital part. The global smart factory market is expected to reach USD 388.68 billion by 2024, which provides insights on the scope of the adoption of industrial robots for automation across end-user industries.
- Industry 4.0, the newest industrial revolution, has fueled the development of new technologies, like collaborative robots, AI-enabled robots, etc., and have enabled industries to use robots to streamline many processes, increase efficiency, and eliminate errors. Increased workplace safety and improved production capabilities have further driven industries to invest in robotic systems.
- Industrial robots (IR) becoming smaller and cheaper without compromising on the quality, the market is becoming more attractive for key players in the end-user industry. However, higher investments may hinder the growth of the market.
Scope of the Report
An industrial robot is a robot system used for manufacturing. Industrial robots are automated, programmable, and capable of movement on three or more axis. Typical applications of robots include welding, painting, assembly, pick and place for printed security boards, packing and labeling, palletizing, product inspection, and testing, all accomplished with high endurance, speed, and precision.
| By Type of Robot |
| ||Articulated Robots |
| ||Linear Robots |
| ||Cylindrical Robots |
| ||Parallel Robots |
| ||SCARA Robots |
| ||Other Types of Robot |
| By End-user Industry |
| ||Automotive |
| ||Chemical and Manufacturing |
| ||Construction |
| ||Electrical and Electronics |
| ||Food and Beverage |
| ||Machinery and Metal |
| ||Pharmaceutical |
| ||Other End-user Industries (Rubber, Optics) |
| Geography |
| || |
| North America |
|United States |
| || |
| Europe |
|United Kingdom |
|Rest of Europe |
| || |
| Asia-Pacific |
|South Korea |
|Rest of Asia-Pacific |
| ||Latin America |
| ||Middle-East & Africa |
Report scope can be customized per your requirements. Click here.
Key Market Trends
Automotive Industry to Hold Major Share
- The growing adoption of automation in the automotive manufacturing process and involvement of digitization and AI are the primary factors driving the demand for industrial robots in the automotive sector.
- In 2017, more than 170,000 robots took part in the production process in the European automotive industry. The growing presence of robots and automation in the European automotive industry is expected to fuel the market for industrial robots in the region.
- For instance, in July 2018, International Automotive Components (IAC), implemented manufacturing 4.0 and smart factory applications at its UK site, in Halewood, England. The new application is expected to deploy smart logistics, cross-company integration, and collaborative robots (cobots).
- Further, China has also become, both the world’s largest car market and the world’s largest production site for cars, including electric cars, with much growth potential. There are 27 automotive manufacturing and assembly plants in Malaysia. The growing automotive industry in Asia is also creating a massive opportunity for the global industrial robots market.
- The shifting of the automotive industry toward autonomous and electric vehicles is also creating a massive opportunity for industrial robots.
- For instance, Self-driving car spinoff Waymo may buy up to 20,000 electric vehicles from Jaguar Land Rover to help realize its vision for a robotic ride-hailing service. The industrial robots are expected to be used for upgrading and manufacturing purposes.
To understand key trends, Download Sample Report
North America to Hold a Significant Market Share
- According to the Association for Advancing Automation (A3), the North American automation market had set new records very recently. For the first nine months of 2017, 27,294 orders of robots, valued at approximately USD 1.473 billion, were sold in North America.
- Modern manufacturing facilities in North America are relying on new technologies and innovations to produce higher quality products at faster speeds with lower costs. In order to survive in the current competitive scenario, they are implementing more intelligent software and hardware.
- With over five heavy-duty assembly plants, over 540 OEM parts manufacturers, 400 dealerships, and many other automotive-related industries, Canada is the 9th largest vehicle producer in the world, and the automotive sector is the biggest contributor to the manufacturing industry of the country.
- According to the government of Canada, the country’s automotive suppliers export parts globally and are integral to Canada’s automotive sector, which accounts for over USD 34 billion in sales annually.
- The manufacturing industry is estimated to contribute approximately 11% to the Canadian GDP. The manufacturing sector is the largest investor in research and development (R&D) and the implementation of new technologies in Canada.
- The government has also taken many initiatives, such as lowering taxes for new investments, various trade agreements with other countries, investments in new technologies, and many skill-training programs, which have helped the manufacturing sector to boom in Canada.
To understand geography trends, Download Sample Report.
The industrial robotics market is highly fragmented. Industry 4.0, along with digitalization initiatives across regions, provides lucrative opportunities in the industrial robots market. The degree of transparency is said to be high, considering the number of robotic trade shows across regions conducted from time to time. Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and collaboration of large companies with startups are expected, which are focused toward innovation. Some of the key players in the market are ABB and Yaskawa. Some of the key developments in the area are:
- September 2018- Yaskawa Electric Corporation rolled out new software for integrating machine controllers and robot controllers.
- June 2019- ABB and Kawasaki heavy industries created the world’s first common interface for collaborative robots. The common interface is poised to help address the shortage of skilled workers, in several industries. In Japan, for example, one in every five people is within a decade of retirement.
Table Of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Emphasis on Workplace Safety
4.3.2 Emerging Technologies in Industrial Robots
4.4 Market Restraints
4.4.1 Lack of Skilled Workforce
4.5 Value Chain Analysis
4.6 Industry Attractiveness Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Robot
5.1.1 Articulated Robots
5.1.2 Linear Robots
5.1.3 Cylindrical Robots
5.1.4 Parallel Robots
5.1.5 SCARA Robots
5.1.6 Other Types of Robot
5.2 By End-user Industry
5.2.2 Chemical and Manufacturing
5.2.4 Electrical and Electronics
5.2.5 Food and Beverage
5.2.6 Machinery and Metal
5.2.8 Other End-user Industries (Rubber, Optics)
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Latin America
5.3.5 Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd.
6.1.2 Yaskawa Electric Corporation
6.1.3 Denso Corporation
6.1.4 Fanuc Corporation
6.1.5 KUKA AG
6.1.6 Kawasaki Robotics
6.1.7 Toshiba Corporation
6.1.8 Panasonic Corporation
6.1.9 Staubli Mechatronics Company
6.1.10 Yamaha Robotics
6.1.11 Epson Robots
6.1.12 Comau SPA
6.1.13 Adept Technologies
6.1.14 Nachi Robotic Systems Inc.
*List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS