The global industrial robotics market size is expected to reach USD 60.56 billion by 2030, expanding at a CAGR of 10.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. The increasing trend of mass production, predominantly in the manufacturing of automobiles, electronics, and packaged food, among others, is expected to drive market growth. For instance, in March 2022, Ford Motor Company integrated industrial robots in its factories to operate 3D printers which produced small car parts.
Moreover, the increasing demand for products to be available at a fast rate has resulted in producers opting for high-volume goods production. For instance, in December 2022, Taiwan Semiconductor Manufacturing Company Limited announced that it had begun mass manufacturing its 3-nanometer chips due to global demand. Therefore, the factories are using industrial robotics and automation systems as they can complete processes in shorter timelines without significant human intervention.
Additionally, governments around the world are pushing for automation and robotics in the industrial sector to boost national exports, increase technology penetration, and attract foreign investment. 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 the industrial and logistics sectors to boost production.
The COVID-19 pandemic had a significant impact on the industrial robotics industry as almost all industries were affected due to government lockdowns and regulations. During this time, there was a decline in the manufacturing of industrial robots itself. However, social distancing and partial workforce regulations during the pandemic increased the demand for automation robots and systems in the industrial sector to keep up with manufacturing and industrial processes demand. Moreover, the demand for industrial robots has remained constant post-pandemic due to the ongoing trend of automation in factories.
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Based on end-use, the chemical, rubber, & plastics segment is expected to grow at the highest CAGR of over 12% over the forecast period as the robots can work around the clock and help avoid health issues to laborers due to toxic fumes and harmful chemicals
Based on application, the handling segment recorded the largest market share in 2022 owing to the trend of e-commerce shopping, and increasing demand for robotics in logistics & warehouse applications
Based on geography, the Middle East & Africa is expected to grow at the highest CAGR over the forecast period owing to favorable government initiatives for automation and robotics along with significant foreign investment
Grand View Research has segmented the global industrial robotics market based on application, end-use, and region.
Industrial Robotics Application Outlook (Revenue, USD Million, 2018 - 2030)
Assembling & Disassembling
Welding & Soldering
Industrial Robotics End-Use Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Chemical, Rubber & Plastics
Industrial Robotics Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Middle East & Africa
List of Key Players in the Industrial Robotics Market
Yaskawa Electric Corporation
Mitsubishi Electric Corporation
Kawasaki Heavy Industries, Ltd.
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