Feb 21, 2023

English - UK

Pramod Pawar

Industrial Robotics Market share is set to increase by USD 109.5 billion by 2032

Market Overview

The industrial robotics market is a rapidly growing industry with no signs of slowing down. In 2022, the global industrial robotics market was valued at USD 50.51 billion and it is expected to reach a value of USD 109.5 billion by 2032, registering a compound annual growth rate (CAGR) of 8% over the forecast period 2022-2032.

Figure

The increasing focus on automation in the manufacturing sector and rising labor costs are driving the global industrial robotics market growth. The deployment of advanced robots in industries is helping them reduce operational costs and increase efficiency, thereby improving their overall performance. Additionally, growing demand for automation from food & beverage manufacturers as well as pharmaceutical companies is also driving the growth of this market.

Objective:

The objective of the industrial robotics market is to analyze and forecast the market size, trends, and growth potential for various segments of the market, including robots, end-users, and applications.

Key Takeaways:

  • The industrial robotics market is driven by factors such as increasing automation in manufacturing processes, rising demand for industrial robots in emerging economies, and advancements in robotic technologies.
  • The market is expected to experience significant growth in the coming years, due to the increasing adoption of robots in industries such as automotive, healthcare, and food and beverage.
  • Asia Pacific is the largest market for industrial robotics, due to factors such as the growing industrialization and automation of manufacturing processes in countries such as China and Japan.

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Regional Snapshots:

  • The North American industrial robotics market is driven by factors such as the increasing adoption of collaborative robots, the growing demand for robots in the automotive industry, and the increasing use of robots in the healthcare sector.
  • European an increasing demand for robots in the manufacturing and automotive sectors, the growing trend of Industry 4.0, and the rising investments in research and development of robotics technologies.
  • The increasing adoption of automation and robotics technologies in manufacturing processes, the growing demand for robots in the automotive industry, and the rising investments in research and development of robotics technologies.

Market Dynamics:

1. Drivers

In addition to the increasing adoption of EVs, another key driver of the EV charging infrastructure market is the growing demand for fast charging solutions. As consumers become more accustomed to the convenience of on-the-go charging, the need for fast charging infrastructure is increasing. This is particularly true in urban areas where EV drivers need to quickly recharge their vehicles during short stops.

2. Restraints

In addition to the key drivers, there are also several factors that could restrain the growth of the EV charging infrastructure market. One of the primary restraining factors is the limited driving range of many electric vehicles. Since EVs have a shorter range compared to traditional gasoline vehicles, drivers may be hesitant to purchase an EV if they are concerned about finding a charging station in a timely manner.

Another potential restraining factor is the lack of awareness and education about EV charging infrastructure. Many consumers and businesses may not fully understand the benefits of EVs and charging infrastructure, which can lead to slower adoption rates and lower demand for charging solutions.

3. Challenges

Despite the growth opportunities, there are also several challenges facing the EV charging infrastructure market. One key challenge is the lack of standardization in charging infrastructure, which can make it difficult for EV drivers to find a charging station that is compatible with their vehicle. Additionally, the high cost of installing and maintaining EV charging infrastructure can be a barrier for some businesses and municipalities.

4. Opportunities

However, there are also many opportunities in the EV charging infrastructure market, including the development of innovative charging technologies, such as wireless charging and vehicle-to-grid (V2G) solutions. These technologies have the potential to make EV charging more convenient and efficient, and to help balance the electrical grid by allowing EVs to serve as energy storage devices.

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Market Key Trends

The global market for electric vehicle (EV) charging infrastructure is expected to experience strong growth in the coming years, driven by a number of key trends. One major trend is the increasing adoption of EVs, which is driving demand for charging infrastructure as more consumers and businesses switch to electric vehicles. This trend is being fueled by government policies and incentives aimed at reducing carbon emissions and promoting sustainable transportation solutions.

Recent development

  • February 2020: FANUC and BMW AG have signed a framework deal where FANUC will supply 3,500 robotics to new production lines. These robots will be used in the development of future and existing BMW models.
  • March 2020: FANUC has introduced the CRX-10iA, a new collaborative robot. The robot can perform high-functional tasks using a flip motion.
  • ABB announced in October 2020 the acquisition of Codian Robotics Netherlands, a leader in delta robots for high-precision pick-and-place applications. Codian Robotics offers a line of hygienic robots that are ideal for use in hygiene-sensitive industries such as food, beverage, and pharmaceuticals. ABB expects to expand its offerings of delta robots with the acquisition.

Market Segmentation

Type

  • AGV
  • Laser Processing Robotics
  • Vacuum Robotics
  • Cleaning Robotics

Application

  • Construction
  • Home Appliances
  • Electronic
  • Automative
  • Food
  • Medical

Key Companies

  • ABB
  • Adept Technology
  • Denso Wave
  • DURR
  • Fanuc
  • Kawasaki Heavy Industries
  • KUKA
  • Nachi-Fujikoshi
  • Seiko Epson
  • Yaskawa Electric
  • Unimation

Frequently Asked Questions:

1. What are industrial robots used for?

Industrial robots are used for a wide range of applications, including assembly, welding, material handling, painting, and inspection.

2. What is collaborative robotics?

Collaborative robotics, or cobots, are robots that are designed to work alongside humans in a shared workspace. They are often used for tasks such as assembly, packaging, and quality control.

3. What are the different types of industrial robots?

The different types of industrial robots include articulated robots, cartesian robots, delta robots, and polar robots.

4. What are the key trends in the industrial robotics market?

Some of the key trends in the industrial robotics market include the increasing adoption of collaborative robots, the growing demand for robots in the healthcare sector, and the rising investments in research and development

Report Scope

Report Attribute

Details

Market size value in 2022

USD 50.51 billion

Revenue forecast by 2032

USD 109.5 billion

Growth Rate

CAGR Of 8%

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World

Historical Years

2017-2022

Base Year

2022

Estimated Year

2023

Short-Term Projection Year

2028

Long-Term Projected Year

2032

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Author

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Email:

Pramod@market.biz

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