Industrial Robotics Market Surges: 13.85% CAGR
Evolve Business Intelligence has published a research report on the Global Industrial Robotics Market, 2021–2034. The global Industrial Robotics Market is projected to exhibit a CAGR of around 13.85% during the forecast period of 2021 to 2034.
Evolve Business Intelligence has recognized the following companies as the key players in the global Industrial Robotics Market: ABB, YASKAWA, FANUC, KUKA, Mitsubishi, Kawasaki Heavy Industries, DENSO, Universal Robots, Comau and Yamaha.
More Information: https://evolvebi.com/report/industrial-robotics-market-analysis/
Market Highlights
The Global Industrial Robotics Market is projected to be valued at USD 36.85 Billion by 2034, recording a CAGR of around 13.85% during the forecast period. The Industrial Robotics Market refers to the industry focused on the production, sales, and utilization of robotic systems designed for industrial applications. These robots are used in various manufacturing processes to automate tasks, enhance productivity, improve precision, and reduce human labor.
The market is driven by technological advancements, the need for increased efficiency, and the ongoing trend towards automation in various industries.
The COVID-19 pandemic had a significant impact on the Industrial Robotics Market. The pandemic caused significant disruptions in global supply chains, impacting the availability of components and materials needed for robotics manufacturing. This led to delays in production and increased costs. The need for social distancing and reduced human contact accelerated the adoption of automation technologies. Companies increasingly turned to industrial robots to minimize reliance on human labour and to maintain operations amidst workforce shortages. The pandemic highlighted the importance of resilient and flexible manufacturing systems. As a result, there was increased investment in robotics and automation technologies to enhance operational efficiency and adapt to future disruptions. The crisis spurred innovation in robotics, with increased focus on developing robots capable of handling new tasks related to the pandemic, such as disinfecting public spaces and delivering medical supplies.
Segmental Analysis
The global Industrial Robotics Market has been segmented based on Payload, Industry and Application.
Based on Payload, the Industrial Robotics Market is segmented into Up to 16.00 Kg, 16.01–60.00 Kg, 60.01–225.00 Kg and More Than 225.00 Kg. The 16.01–60.00 Kg segment is anticipated to dominate the market.
Based on Industry, the global Industrial Robotics Market has been divided into Automotive, Electrical & Electronics, Metals & Machinery and Others. The Electronics segment is anticipated to dominate the market.
Based on Application, the global Industrial Robotics Market has been divided into Handling, Assembling & Disassembling, Welding & Soldering and Others. The Handling segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/industrial-robotics-market-analysis/
Regional Analysis
The Industrial Robotics Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. The North American market for industrial robotics is characterized by steady growth, driven by increased automation in various industries. The automotive and aerospace industries are significant drivers of robotics adoption in North America. Europe has a well-established industrial robotics market, with strong presence in automotive, electronics, and machinery industries. European countries are actively embracing Industry 4.0 initiatives, driving the adoption of advanced robotics technologies. Asia-Pacific is the largest and fastest-growing market for industrial robotics, accounting for a significant portion of global installations. China is the world’s largest market for industrial robots, followed by Japan and South Korea. The Industrial Robotics Market in Latin America is still developing compared to more mature markets in North America and Europe. However, there is growing interest and investment in automation. As the largest economy in Latin America, Brazil has a relatively higher adoption of industrial robots. Major industries include automotive manufacturing, food processing, and consumer goods. The Industrial Robotics Market in the Middle East and Africa is expanding, driven by efforts to diversify economies and invest in industrial and infrastructure projects. High demand for robotics in the oil and gas industry, as well as emerging interest in automotive, manufacturing, and logistics sectors. The UAE is investing in smart manufacturing and robotics as part of its strategy to become a technology hub. Key sectors include manufacturing, logistics, and healthcare.
