Luton, Bedfordshire, UK, Sept. 13, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the research report detailed about Industrial Robots Market.
The global industrial robot market size is estimated at USD 47.54 billion in 2020 and is projected to reach USD 108.48 billion by 2029, registering a CAGR of 9.6%.
Industrial robots are classified according to their physical characteristics (range, weight, etc.), human interaction, mobility and degree of autonomy. Autonomous industrial robots The International Federation of Robotics (IFR) estimates that around 2.1 million autonomous industrial robots were installed worldwide in 2017, with 381,000 shipped.
Automobiles, OEMs and a growing number of automotive suppliers are the largest sector with 126,000 vehicles, followed by the electrical and electronics industry with 121,000 vehicles. — China is its largest regional market with 138,000 units. The top 5 countries (China, South Korea, Japan, Germany and the USA) represent for it more than 70% of the market.
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In October 2020, ABB announced the acquisition of Codian Robotics (Netherlands), a leading supplier of delta robots used primarily for high precision pick and place applications. Codian Robotics’ offering includes a hygienic design line, ideal for hygiene-sensitive industries, including food and pharmaceuticals. With this acquisition, ABB is expected to increase its delta robot offerings.
In September 2020, KUKA (Germany) announced its new SCARA robots as part of the KR SCARA range which excel in applications such as small parts assembly, material handling and inspection tasks with payload of 6 kg. The robots will mainly be offered to cost-sensitive markets.
The impact of COVID-19 is driving the demand for industrial robot processing market.
Several incentives are being offered by the governments of key countries such as India, China, Japan, France, Indonesia and Singapore to help their industrial sectors better cope with the challenges posed by the COVID-19 pandemic. As a result, industries are better prepared to invest in the financial resources needed to integrate robots into the industrial setup. The demand for collaborative robots is expected to grow across industries, accelerating the adoption of automation. These robots are aimed at both small and medium-sized enterprises (SMEs) and large groups. These robots are being used for both new and established applications due to their versatility, resulting in widespread adoption.
Regional outlook– Asia-Pacific countries are expected to present good opportunities for market players to bring industrial robot products to these regions.
In the coming years, Asia-Pacific is expected to become the major player in the global market. This can be attributed to increased automation, especially in Japan, China and India. Moreover, as the population and the disposable income of individuals increases, the demand for consumer goods and other items also increases, resulting in an increase in productive capacity and a larger market. Likewise, there is a growing need for custom-made automobiles and machinery, which require high precision and production capacity. The use of robotics in industrial applications is increasing in order to meet the demand.
Product portfolio: the company has a product portfolio in the industrial robot market which includes:
industrial robot market: Rising competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of the industrial robots market.
Key players global operation industrial robot market understand ABB, Yaskawa, Fanuc, Kuka, Mitsubishi Electric, Kawasaki Heavy Industries, Denso, Nachi-Fujikoshi, Seiko Epson and Dürr.
Scope of Industrial Robots Market: Discount on report
|industrial robot market|
|Industrial Robots Market Report Coverage||Details|
|Year of reference :||2021||Forecast period:||2022-2029|
|Historical data:||2017 to 2020||Market size in 2020: 9.6%||US$47.54 billion|
|Forecast Period 2022 to 2029 CAGR:||9.6%||Market size in 2029:||US$108.48 billion|
|Key market segments:||By type||
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