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The Global Industrial Robots Market Calculated to Advance at $87.79 Billion by 2028

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The Global Industrial Robots Market Calculated to Advance at $87.79 Billion by 2028

October 28
23:06 2021
The Global Industrial Robots Market Calculated to Advance at $87.79 Billion by 2028
The Global Industrial Robots Market
As per Triton’s research report, in 2020, the global industrial robots market acquired $38.02 billion, and is estimated to progress at a CAGR of 10.35% by 2028.

A recent study by Triton Market Research titled ‘Global Industrial Robots Market’ consists of the Global Analysis and Forecasts by Type (Articulated Robots, SCARA Robots, Cartesian Robots, Cylindrical Robots, Other Robots), Application (Welding & Soldering, Dispensing, Processing, Material Handling, Assembling & Disassembling, Other Applications), Verticals (Automotive, Electronic & Electric, Machinery Products & Metal, Chemical, Plastics, & Rubber, Food & Beverage, Other Verticals), and by Geography (Asia-Pacific, Europe, North America, Latin America, Middle East and Africa). 

Industrial robots hold the ability to function on three or more dimensions. Moreover, they are automated and programmable, ideal for production activities. 

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As per Triton Market Research’s report, the global industrial robots market is evaluated to register growth at a CAGR of 10.35% during the forecast period 2021-2028, gaining a value worth $87.79 billion.

In recent years, several industries, especially the F&B industry, have adopted robots for various applications. The machinery and robotic installation in the industry comply with their design and manufacture, maintaining strict hygiene regulations. This helps develop quality products with reduced errors. Hence, the growing adoption of robots across industries, coupled with the advent of smart factories, supplement the growth of the industrial robots market. 

However, the elevated cost of industrial robots, resistance among workers, and dearth of skilled workforce are impeding the industrial robots market’s growth. 

The industrial robots market is segmented into type, application, and verticals. First, the type section is divided into articulated robots, SCARA robots, cartesian robots, cylindrical robots, and other robots. Further, the application segment is sectioned into welding & soldering, dispensing, processing, material handling, assembling & disassembling, and other applications. Lastly, the verticals segment is branched into automotive, electronic & electric, machinery products & metal, chemical, plastics, & rubber, food & beverage, and other verticals. 

Globally, the Asia-Pacific is leading in the industrial robots market. This is due to the steps undertaken by companies to shift production from China to other countries, with Southeast Asia as a strong alternative. This shift is supported by lower labor costs, growing domestic demand, and infrastructural developments. Additionally, manufacturers are adopting robotic automation to enhance productivity and output quality, allowing workers to focus on higher-skilled tasks. Therefore, these developments are fueling the growth of the industrial robots market in the region.  

Rethink Robotics, Kuka AG, ABB Ltd, Seiko Epson Corporation, Schunk GmbH, Mitsubishi Electric Corporation, Fanuc Corporation, Nachi Fujikoshi Corporation, Yamaha Robotics, Rockwell Automation Inc, Universal Robots, Kawasaki Heavy Industries Ltd, Omron Adept, Staubli International AG, and Aurotek Corporation are significant companies in the industrial robots market.    

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Question & Answer: Industrial Robots Market

Question 1: What significant factors supplement the growth of the industrial robots market?

Answer: In recent years, several industries, especially the F&B industry, have adopted robots for various applications. The machinery and robotic installation in the industry comply with their design and manufacture, maintaining strict hygiene regulations. This helps develop quality products with reduced errors. Hence, the growing adoption of robots across industries, coupled with the advent of smart factories, supplement the growth of the industrial robots market. 

Question 2: What factors are impeding the industrial robots market’s growth?

Answer: The elevated cost of industrial robots, resistance among workers, and dearth of skilled workforce are impeding the industrial robots market’s growth. 

Question 3: Which region is leading in the industrial robots market?

Answer:  Globally, the Asia-Pacific is leading in the industrial robots market. This is due to the steps undertaken by companies to shift production from China to other countries, with Southeast Asia as a strong alternative. This shift is supported by lower labor costs, growing domestic demand, and infrastructural developments. Additionally, manufacturers are adopting robotic automation to enhance productivity and output quality, allowing workers to focus on higher-skilled tasks. Therefore, these developments are fueling the growth of the industrial robots market in the region.  

Question 4: Which are the significant companies in the industrial robots market?

Answer: Rethink Robotics, Kuka AG, ABB Ltd, Seiko Epson Corporation, Schunk GmbH, Mitsubishi Electric Corporation, Fanuc Corporation, Nachi Fujikoshi Corporation, Yamaha Robotics, Rockwell Automation Inc, Universal Robots, Kawasaki Heavy Industries Ltd, Omron Adept, Staubli International AG, and Aurotek Corporation are significant companies in the industrial robots market.    

Related Report:

Global Collaborative Robots Market 

The global collaborative robots market is likely to advance at a CAGR of 31.13% during the projected period of 2019-2028 while reaping revenue worth $511.56 million by 2028.

A collaborative robot can share the workspace with a human without requiring physical separation. As a result, these cobots help simplify tasks for workers, tackling monotonous tasks efficiently. 

Factors such as widening applications of collaborative robots, the demand for flexible automation, and high return on investments offered by cobots are widening the scope and growth of the collaborative robots market. 

Additionally, the soaring demand for collaborative robots is mainly owing to their flexibility, making them ideal for various industrial applications. Therefore, the demand from automation-driven industries in developing nations is likely to fuel the growth of the studied market. 

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