Industrial Robotics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Industrial Robot Market Manufacturers & Companies and is segmented by Type of Robot (Articulated Robots, Linear Robots, Cylindrical Robots, Parallel Robots, SCARA Robots), End-user Industry (Automotive, Chemical and Manufacturing, Construction, Electrical and Electronics, Food and Beverage, Machinery and Metal, Pharmaceutical), and Geography.

Industrial Robotics Market Size

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Industrial Robotics Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 42.59 Billion
Market Size (2029) USD 79.87 Billion
CAGR (2024 - 2029) 13.40 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Industrial Robotics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Industrial Robotics Market Analysis

The Industrial Robotics Market size is estimated at USD 42.59 billion in 2024, and is expected to reach USD 79.87 billion by 2029, growing at a CAGR of 13.40% during the forecast period (2024-2029).

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, e-commerce, electronics, and the automotive industry, among others, have increased.

Rising penetration of the IoT and investments in robotics across regions have been major contributors to the market's growth. For instance, the 'Made in China 2025' announcement aimed to broadly upgrade the Chinese industry by moving toward quality-focused and innovation-driven manufacturing.

Industry 4.0, the newest industrial revolution, has fueled the development of new technologies, like collaborative robots, AI-enabled robots, etc., and has 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.

Owing to collaborative robots, which are estimated to account for 34% of the total robot sales in 2025 (according to the International Federation of Robots (IFR), the penetration of industrial robots is expected to rise across industries, such as plastics, food and consumer goods, semiconductors and electronics, life sciences, and pharmaceuticals. Another notable factory automation is expected at Apple's factories through Foxconn's robots. Semiconductor industry IC foundries have been among the adopters that have impacted the current market demands.

Some of the major factors driving the market include rising demand for high-quality products (which need proper end-to-end visibility in the manufacturing process), the need for energy conservation, and rising focus on workplace safety. Incremental advancements in technology, coupled with a sustained increase in the development of manufacturing facilities, are also expected to drive this market, for instance, According to the Association for Advancing Automation (A3), which monitors industrial robot sales in North America. Companies ordered 44,196 robots in 2022, 11% more than in 2021.

The COVID-19 outbreak and lockdown restrictions worldwide affected industrial activities worldwide. Some lockdown results include supply chain disruptions, labor shortages, and a lack of raw materials available in the manufacturing process. These fluctuating prices could force the production of the final product to increase and go beyond budget, shipping problems, etc.

Industrial Robotics Market Trends

Automotive Industry to Hold Major Share

For the past 50 years, the automotive industry has used robots in its assembly lines for various manufacturing processes. Currently, automakers are exploring the use of robotics in more procedures. Robots are more efficient, flexible, accurate, and dependable for such production lines. This technology enables the automotive industry to remain one of the most significant robot users and possess one of the most automated supply chains globally.

Furthermore, the growing adoption of automation in the automotive manufacturing process and the involvement of AI and digitalization are the primary factors increasing the demand for industrial robots in the automotive sector.

In today's automotive industry, the advancement of robotics technology has accelerated to keep up with the rapid changes in the automotive industry. A robotics solution simulation and virtual commissioning will utilize the maximum benefits of factory automation for OEMs, startups, and suppliers in the present automotive industry.

For instance, For instance, Europe's second-largest car manufacturer, PSA Group, modernizes its European manufacturing sites with Universal Robots' UR10 collaborative robots. According to UBS, around 6.3 billion electric vehicles are forecast to be sold in Europe in 2025.

To cater to the changing landscape of automotive manufacturing, many players in the industry are adopting industrial robots. For instance, in January 2022, Huayu Automotive Systems Co., which does business as HASCO, and ABB Group announced that they have created a joint venture building on their existing relationship "to drive the next generation of smart manufacturing." The companies claimed that the joint venture would enable them to further develop HASCO's leading position with automated solutions that benefit customers in China.

Further, the growing automotive sector worldwide supports the growth of industrial robotics for welding car parts, palletizing, part insertion, pick-and-pale applications, and many other uses. Moreover, in July 2022, Yamaha Motor Robotics announced to showcase of its latest robots for Advanced Automation at Motek 2022. The company will demonstrate SCARA, cartesian and single-axis robots, and the LCMR200 linear conveyor module, highlighting their speed, accuracy, and flexibility.

Industrial Robotics Market:  Global installations of industrial robots, in thousands units, 2022 - 2024

North America to Hold a Significant Market Share

According to the International Federation of Robotics, Robot installations in the United States increased by 14% to 34,987 units in 2021, making it the second most successful year in the industry's history. This was higher than the pre-pandemic level of 33,378 units in 2019. In 2021, the automobile industry in the United States will have installed 9,782 industrial robots. In 2021 the United States will account for 64% of North American car installations. However, in past years, this percentage was greater than 70%. The metal and machinery industry in the United States increased by 66% to 3,814 units in 2021, placing it second in terms of robot demand. In 2021, the plastics and chemical products industry had 3,466 (+30%) new robots installed.

The government in the region is also encouraging the adoption of robotics by taking initiatives to support the development of modern technologies in the robotics market. For instance, the US federal government has commenced the National Robotics Initiative (NRI) program to bolster the capabilities of building domestic robots and encourage research activities in the field.

In February 2022, United States Steel and Carnegie Foundry, a robotics and AI studio, announced a strategic investment and relationship. The two Pittsburgh-based startups will collaborate to accelerate and expand industrial automation powered by advanced robotics and artificial intelligence. Carnegie Foundry will use this funding to market and scale its industrial automation portfolio of robotics and AI technologies in advanced manufacturing, industrial robots, integrated systems, autonomous mobility, speech analytics, and other areas. According to US Steel, the collaboration keeps the company at the forefront of growing innovation in robotics and autonomous solutions for the industry. According to the steelmaker, the highly advanced technology will be critical to meeting its client's expectations for a robust and resilient supply chain.

In March 2022, Kinova Robotics introduced Link 6, Canada's first industrial collaborative robot. Link 6 is Canada's first industrial collaborative robot, with automation solutions that increase daily productivity while enhancing product quality and consistency. The Link 6 robotic arm is developed and constructed with any user in mind, both for experienced industrial integrators and operators with no particular robotic expertise, achieving quick cycle times through longer reach and fast movements. The Link 6 controller from Kinova has the market's most processing power and memory capacity. It supports an optional GPU, making it ready for use with future AI solutions while keeping the controller compact.

Association for Advancing Automation (A3), companies in North America ordered 9,853 million robots in the second quarter of 2021, which is a significant increase compared to 2020, with 5,196 sales, leading to new job opportunities. Further, according to Robotic Industries Association (RIA), the most critical driver of the year-to-date increase in industrial robots was an 83% growth in units purchased by automotive OEMs for process automation.

 Industrial Robotics Market - Growth Rate by Region, 2022-2027

Industrial Robotics Industry Overview

The industrial robotics market is highly fragmented. Industry 4.0, with digitalization initiatives across regions, provides lucrative opportunities in the industrial robots market. The degree of transparency is high, considering the number of robotic trade exhibits across conducted areas occasionally. Overall, the competitive rivalry among existing players is high. The acquisitions and collaboration of large companies with startups are predicted, focusing on innovation. A few major players in the market are ABB and Yaskawa. Some of the key developments in the area are:

February 2022, KUKA Robotics showcased its Hygienic Oil (HO) robot and Hygienic Machine (HM) portfolios along with its completely hygienic, all-stainless steel KR3 Delta and food processing versions of its other robot models at the International Production & Processing Expo held in Atlanta.

February 2022 - Comau and IUVO introduced wearable robotics solutions to improve operator work efficiency in manually moving loads. The aim is toward well-being by decreasing lower back fatigue.

January 2022 - Yaskawa Electric Corporation acquired additional shares of Doolim-Yaskawa Co., Ltd. to further establish a business in the sealing system and the robotic painting market.

January 2022- KUKA and Ford Otosan of Turkey signed a new framework contract to supply more than 700 robots to Ford's next-generation electrical and connected commercial vehicle project at its Ford plant in Cocaeri. This contract conveys the continuation of a corporate partnership for over 20 years.

Industrial Robotics Market Leaders

  1. ABB Ltd.

  2. Yaskawa Electric Corporation

  3. Denso Corporation

  4. Fanuc Corporation

  5. KUKA AG

*Disclaimer: Major Players sorted in no particular order

Industrial Robotics Market Concentration
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Industrial Robotics Market News

  • July 2022: ABB and SKF signed a Memorandum of Understanding (MoU) to investigate the prospects for collaboration in manufacturing process automation. ABB and SKF collaborated to identify and evaluate solutions to improve manufacturing and processing capabilities, including food processing, and support clients' increased production efficiency.
  • May 2022: Cornell University's new 6,000-pound industrial robot was introduced. It is claimed that 3D printing of large-scale buildings could alter the construction industry, making it more efficient and sustainable by eliminating waste from traditional material processing. Cornell is one of only a few colleges in the United States using such a system. The IRB 6650S Industrial Robot system arrived in February 2022, and the Bovay Lab was trained to handle the robotic system - which is effectively a long, swiveling arm - and run several medium-size test prints, including benches and planters, for the last several months.

Industrial Robotics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHT

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitutes

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increased Emphasis on Workplace Safety

      2. 5.1.2 Emerging Technologies in Industrial Robots

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Skilled Workforce

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Type of Robot

      1. 6.1.1 Articulated Robots

      2. 6.1.2 Linear Robots

      3. 6.1.3 Cylindrical Robots

      4. 6.1.4 Parallel Robots

      5. 6.1.5 SCARA Robots

      6. 6.1.6 Other Types of Robot

    2. 6.2 By End-user Industry

      1. 6.2.1 Automotive

      2. 6.2.2 Chemical and Manufacturing

      3. 6.2.3 Construction

      4. 6.2.4 Electrical and Electronics

      5. 6.2.5 Food and Beverage

      6. 6.2.6 Machinery and Metal

      7. 6.2.7 Pharmaceutical

      8. 6.2.8 Other End-user Industries (Rubber, Optics)

    3. 6.3 By Geography

      1. 6.3.1 North America

        1. 6.3.1.1 United States

        2. 6.3.1.2 Canada

      2. 6.3.2 Europe

        1. 6.3.2.1 United Kingdom

        2. 6.3.2.2 France

        3. 6.3.2.3 Germany

        4. 6.3.2.4 Rest of Europe

      3. 6.3.3 Asia Pacific

        1. 6.3.3.1 Japan

        2. 6.3.3.2 China

        3. 6.3.3.3 India

        4. 6.3.3.4 South Korea

        5. 6.3.3.5 Rest of Asia Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 ABB Ltd.

      2. 7.1.2 Yaskawa Electric Corporation

      3. 7.1.3 Denso Corporation

      4. 7.1.4 Fanuc Corporation

      5. 7.1.5 KUKA AG

      6. 7.1.6 Kawasaki Robotics

      7. 7.1.7 Toshiba Corporation

      8. 7.1.8 Panasonic Corporation

      9. 7.1.9 Staubli Mechatronics Company

      10. 7.1.10 Yamaha Robotics

      11. 7.1.11 Epson Robots

      12. 7.1.12 Comau SPA

      13. 7.1.13 Adept Technologies

      14. 7.1.14 Nachi Robotic Systems Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OUTLOOK OF THE MARKET

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Industrial Robotics Industry Segmentation

An industrial robot is a robot system used for manufacturing. Industrial robots are automated, programmable, and capable of movement on three or more axis. Industrial robots are used in multiple industries and applications. The elimination of labor-intensive activities is driving the Industrial robotics market.

The Industrial Robotics Market is segmented by Type of Robot (Articulated Robots, Linear Robots, Cylindrical Robots, Parallel Robots, SCARA Robots), End-user Industry (Automotive, Chemical, and Manufacturing, Construction, Electrical and Electronics, Food and Beverage, Machinery and Metal, Pharmaceutical), and Geography Europe (United Kingdom, Germany, France, rest of Europe), Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific), Latin America, Middle East and Africa. The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

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)
By Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Rest of Europe
Asia Pacific
Japan
China
India
South Korea
Rest of Asia Pacific
Latin America
Middle East and Africa
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Industrial Robotics Market Research FAQs

The Industrial Robotics Market size is expected to reach USD 42.59 billion in 2024 and grow at a CAGR of 13.40% to reach USD 79.87 billion by 2029.

In 2024, the Industrial Robotics Market size is expected to reach USD 42.59 billion.

ABB Ltd., Yaskawa Electric Corporation, Denso Corporation, Fanuc Corporation and KUKA AG are the major companies operating in the Industrial Robotics Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Industrial Robotics Market.

In 2023, the Industrial Robotics Market size was estimated at USD 37.56 billion. The report covers the Industrial Robotics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Robotics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Robots Industry Report

Statistics for the 2024 Industrial Robots market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Robots analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Industrial Robotics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)