Industrial Robotics Market Size, Share & Trends Analysis Report By Application (Handling, Assembling, Processing), By End-Use (Automotive, Electronics), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global industrial robotics market was valued at USD 26.52 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030. The growing trend of Industry 4.0 is driving the use of robotics and smart manufacturing in the industrial sector. Manufacturers are expanding their factories to cater to the growing demand for industrial robotics. For instance, in December 2022, ABB Ltd. opened a new mega robotics factory for production and research in Shanghai, China. The company invested around USD 150 million to launch the 67,000-square-meter factory.

Moreover, companies are developing robots with advanced technologies and modern features due to the growing industrial sector and its complex processes. For instance, in June 2022, Epson Robotics launched its GX4 and GX8 SCARA robotics series. The company announced that the robots would provide multiple arm support and offer high precision task accuracy for complex handling tasks. Technological advancements of similar nature are expected to drive market growth during the forecast period.

The rising trend of electric automobiles among new car owners remains promising, given the cost-benefit. It is expected to significantly impact the industrial robotics industry as car manufacturers have begun using automated robotic systems for the high-volume production of vehicles. For instance, in December 2022, Kuka AG completed the delivery of its industrial arm robots to Tesla Inc. to help the company mass produce its electric vehicles. Similarly, other major automobile companies are also using automated robotic solutions, thus driving the demand for industrial robotics.

The incorporation of machine learning and artificial intelligence technologies in industrial robots is positively influencing the business sector. Further, the introduction of 5G technology is also expected to encourage the use of robotics in the manufacturing sector. The low latency of the 5G network allows instantaneous communication between the systems for efficient coordination and connectivity. For instance, the release of an industrial 5G wireless network technology by the Nokia Corporation is a prominent cause of the adoption of robotics.

Moreover, the rising labor and factory insurance costs are expected to drive the introduction of industrial robotics for economical and effective resource allocation with minimal downtimes. For instance, in October 2022, the cost of labor in the U.S. increased at a notable rate. Additionally, the use of robotic systems significantly reduces the error rate while simultaneously increasing the rate of output. Hence, manufacturers are integrating automated robotic systems to increase their operational efficiency and profit margins.

COVID-19 Impact Analysis

The COVID-19 pandemic had a significant impact on the growth of the market. Following the outbreak, there has been a rising demand for automated systems and robots, which has created new opportunities in the market. Since the robots require minimal to no human input, the threat of potentially transmitting the virus remained low. In addition, industries doubled down on their automation plans for the future following the unforeseen shutdowns due to the pandemic, thus driving the market for industrial robotics.

Application Insights

The handling application segment dominated the market share in 2022 while grossing more than 40% revenue share. The segment growth is attributed to the rising trend of e-commerce shopping and quick deliveries. For instance, in June 2022, Amazon.com, Inc. unveiled an autonomous robot for handling and moving packages in the company facilities. The robots can handle materials without any human intervention and significantly reduces the error rate. Moreover, rapidly developing industries such as automotive and electronic use handling robots to move around small or heavy materials on the factory floor safely and expeditiously.

The processing application segment is anticipated to grow at the fastest CAGR of over 20% over the forecast period from 2023 to 2030. The segment’s growth can be attributed to the minimal errors in their use in painting, cutting, and other processes. These types of robots are gaining traction as they can operate around the clock owing to their set programming. Furthermore, robots can enter minute spaces and operate where human labor cannot.

End-Use Insights

The electrical/electronic end-use segment accounted for a significant market share of over 25% in 2022. The segment dominated due to its ability to perform various tasks, such as dispensing, insertion, labeling, and screw driving, with high repeatability. The increased adoption of such industrial robots will be led by innovations coupled with rising research and development efforts by market players to improve productivity, cost-efficiency, and low-manufacturing overheads. The increasing competition in the market with the emergence of various technology disruptors is expected to strengthen the segment outlook over the forecast period.

The chemical, rubber, & plastics end-use segment is expected to grow at the highest CAGR of over 12% over the forecast period. The segment’s growth can be attributed to the need to maintain consistency in tasks such as measurement and testing. Moreover, robotics can handle toxic materials without the risk of health deterioration.

In July 2022, Hibot Corp. used its Float Arm robot to inspect pipelines that were difficult to access and unsafe for workers at the Mitsui Chemical plant in Japan. Such type of applications increases the demand for industrial robotics as companies need not put their workforce at risk and can maintain their manufacturing output.

Regional Insights

The Asia Pacific dominated the industrial robotics industry in 2022 and contributed toward a share of over 65%. The region is expected to dominate throughout the forecast period as well. Asia Pacific region is home to a large number of industries and factories which use industrial robots for manufacturing processes. Besides, the growing inclination toward automation, artificial intelligence, and the evolution of other advanced technologies is providing significant growth potential for the regional market.

Middle East & Africa is anticipated to grow at the highest CAGR of over 20% during the forecast period. The regional market growth is attributed to the increasing industrial initiatives by government entities in the region. For instance, in September 2022, the crown prince of Dubai launched The Dubai Robotics and Automation Program to boost robotics in the country. Under the program, around 200,000 robots will be provided to industrial and logistics sectors to increase their production capabilities.

Key Companies & Market Share Insights

The key players in the market use strategies, such as partnerships, acquisitions, ventures, innovations, R&D, and geographical expansions, to solidify their industry position. Companies are also focusing on improving their product offerings to better suit the changing needs of users to stay competitive. For instance, in September 2022, Doosan Robotics partnered with Industrial Automation Supply to be its reseller partner in the northeast U.S. Such partnerships help increase the potential market for companies in the industry.

Furthermore, key companies are expanding their portfolio by launching new products or by significantly developing existing products in their portfolio. For instance, in November 2022, Epson America, Inc. announced the expansion of the VT6L-Series through the launch of the VT6L-DC All-in-One 6-Axis Robot. The newly launched product is ideal for mobile solutions and delivers next-level technology that helps to improve operational efficiency. Some prominent players in the global industrial robotics market include:

• ABB Ltd.

• Yaskawa Electric Corporation

• Mitsubishi Electric Corporation

• Nachi-Fujikoshi Corp.

• Comau SpA

• KUKA AG

• Fanuc Corporation

• Denso Corporation

• Kawasaki Heavy Industries, Ltd.

• Omron Corporation

Industrial Robotics Market Report Scope

Global Industrial Robotics Market Report Segmentation

The report forecasts volume and revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global industrial robotics market report based on application, end-use, and region:

• Industrial Robotics Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Handling

  • Assembling & Disassembling

  • Welding & Soldering

  • Cleanroom

  • Dispensing

  • Processing

  • Others

• Industrial Robotics End-Use Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Automotive

  • Electrical/Electronics

  • Metal/Heavy Machinery

  • Chemical, Rubber, & Plastics

  • Food

  • Others

• Industrial Robotics Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Italy

    • France

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • Saudi Arabia

    • South Africa