Industrial Robots Market Set for Exponential Growth: Projected to Reach US$ 55.66 Billion by 2032, with a Robust CAGR

A recently published study by FMI expects the global industrial robots market to augment at a 12% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 55.66 Billion is expected for the market. Increasing adaption of industrial robots in end user industries such as automotive, food & beverage and pharmaceutical industry is positively influencing the growth of the market.

The sector expanded significantly between 2017 and 2021, recording a 9% value CAGR and reaching a peak of US$ 16 billion. Although the COVID-19 outbreak had an impact on the development of industrial robots, the demand for these devices is being driven by the need for automation. Industrial robots are also increasing productivity rates at manufacturing facilities while saving time. The dependence on industrial robots is the result of this.

The use of IoT devices, AI, and ML is accelerating the development of these technologies. Future industrial robot availability is predicted to increase, making installation simpler. Most industrial robots are also capable of handling many jobs at once. As a result, they are acquiring a lot of momentum as a result.

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Key Takeaways from the Market Study

• By end use, electric and electrical industry is expected to procure 40% market share for industrial robots.
• China is expected to account for 45% of the total Industrial Robots in 2022
• U.S. is expected to hold 40% market share for industrial robots in 2022
• France is expected to possess 30% market share for industrial robots

Market Competition

Key players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation and ABB Limited.

• Denso Corporation, a key player in the industrial robots market is focusing on studying the infrastructure and requirements of end user industries and designing industrial robots for the same.
• Mitsubishi Electric Corporation, is focusing on research for designing industrial robots. The company is developing industrial robots that can carry out complex tasks easily.

More Insights Available

FMI, in its new offering, presents an unbiased analysis of the global industrial robots market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Product Type (Articulated Robots, SCARA Robots, Parallel Robots, Cartesian Robots, Cylindrical Robots, Others), by End Use (Automotive, Electrical & Electronics, Metals & Machinery, Chemicals, Plastic & Rubber, Food & Beverages, Healthcare, Construction, Others), by Application (Material Handling, Welding & Soldering, Assembly & Disassembly, Painting & Dispensing, Others), by technology (Automatic, Semi- Automatic, Manual) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

About the Industrial Automation Domain at Future Market Insights 

The industrial automation domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Key Segments Profiled in the Industrial Robots Industry Survey

Industrial Robots by Product Type:

• Industrial Robots by Articulated Robots
• Industrial Robots by SCARA Robots
• Industrial Robots by Parallel Robots
• Industrial Robots by Cartesian Robots
• Industrial Robots by Cylindrical Robots
• Industrial Robots by Others

Industrial Robots by End Use:

• Industrial Robots by Automotive
• Industrial Robots by Electrical & Electronics
• Industrial Robots by Metals & Machinery
• Industrial Robots by Chemicals, Plastic & Rubber
• Industrial Robots by Food & Beverages
• Industrial Robots by Healthcare
• Industrial Robots by Construction
• Industrial Robots by Others

Industrial Robots by Applications:

• Industrial Robots by Material Handling
• Industrial Robots by Welding & Soldering
• Industrial Robots by Assembly & Disassembly
• Industrial Robots by Painting & Dispensing
• Industrial Robots by Others

Industrial Robots by Technology:

• Industrial Robots by Automatic
• Industrial Robots by Semi- Automatic
• Industrial Robots by Manual

Region:

• North America Industrial Robots Market
• Latin America Industrial Robots Market
• Europe Industrial Robots Market
• Asia Pacific Industrial Robots Market
• Middle East & Africa Industrial Robots Market