Industrial Robots Market is expected to reach value of US$ 55.66 Billion by registering a CAGR of 12% from 2022-2032
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.
From 2017 to 2021, the industry experienced noteworthy
growth, registering a value CAGR of 9% and closing at US$ 16 Billion. Although,
the COVID-19 pandemic affected the growth of industrial robots, the need for
automation is driving the demand for the same. Furthermore, industrial robots
are not saving time at manufacturing units but also accelerating productivity
rates. This has led to the dependency on industrial robots.
The integration of IoT devices, along with artificial
intelligence and machine learning is spurring the growth of the same. With
time, industrial robots are expected to become more commercialized, making the
installation of the same easy. In addition, most industrial robots are able to
perform various tasks at the same time. This, in turn, is helping them gain
huge traction.
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
“Industrial robots have the potential to change the
functioning of end user industries.
Multitasking, precision and accuracy are making
industrial robots a popular option across industries. This, in turn, is gaining
traction for the same.” states an FMI analyst
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.
To Know More @
https://www.futuremarketinsights.com/reports/industrial-robots-market
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