Industrial Robots Market to Reach Valuation of USD 89.4 Billion by 2028 – Increasing demand for Industrial Robots during COVID-19 Drives the Market

In terms of revenue, the Global Industrial Robots Market is expected to reach USD 89.4 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.90% from 2022 to 2028.

Increasing usage of collaborative robots in multiple industries, growing automation in the electronics industry, and increasing government for the development of the robot market are anticipated to mention lucrative growth of the Industrial Robots Market over the projected time period.

Key Highlights from Report:

· The Articulated Robot held a significant growth of the Industrial Robots Market in 2021. These robots are mainly used in applications like material handling, assembly, and others, due to their ability to repeatedly carry out precise motions, which in turn, propel the segmental growth of the Industrial Robots Market.

· The End-Effector Component segment accounted to be the largest growth of the Industrial Robots Market during the forecast period. The requirement to acquire dexterous manipulation in industrial robots for increased performance, particularly in pick-and-place tasks, has contributed to these breakthroughs in end-effectors.

· Asia Pacific is expected to witness the fastest growth of the Industrial Robots Market during the forecast period. Factors such as rising labor expenses and obliging enterprises to automate the manufacturing processes to keep their cost advantage are expected to fuel the regional growth of the Industrial Robots Market during the forecast period.

Market Dynamics:

An increase in automation also increases the electronics businesses across the globe. Industrial robots are primarily used in many tasks such as assembling, dispensing, milling, inspecting, packing, and palletizing. In addition, the majority of the task that industrial workers in the electronics sector currently do is still repetitive &redundant, such as hand assembly and tooling. Robotics investments will alter the expectations imposed on employees, allowing them to concentrate on high-importance jobs like final inspection and quality control. Furthermore, many manufacturers are invested heavily in the enhancement of this market. For instance, KUKA(Germany) launched SCARA robots under the KR SCARA line-up that are used in applications like small parts assembly, materials handling and inspection tasks with a payload of 6 kg.

North America is anticipated to witness the potential growth of Industrial Robots Market in 2021.The manufacturers are being compelled to automate the production processes in order to preserve their cost advantage due to rising labor prices in this region. Factors like low production costs, easy access to affordable labour, lax emission & safety regulations, and government initiatives for foreign direct investments (FDIs) are expected to increase in the near future. This will allow North America region to maintain a dominant market position in the Industrial Robots Market.

The Global Industrial Robots Market is Segmented as follows:

• Type
  • Traditional Industrial Robots
  • Articulated Robots
  • SCARA Robots
  • Parallel/Delta Robots
  • Cartesian/Linear/Gantry Robots
  • Collaborative Robots
  • Other Robots (Cylindrical Robots, Spherical Robots, & Swing-Arm Robots)
• Component
  • Robotic Arms
  • Robot Accessories
  • End Effectors
  • Controllers
  • Drive Units
  • Vision Systems
  • Sensors
  • Power Supply
  • Other Components
• Payload
  • Up to 16.00 kg
  • 16.01–60.00 kg
  • 60.01–225.00 kg
  • More than 225.00 kg
• Application
  • Handling
  • Assembling & Disassembling
  • Welding & Soldering
  • Dispensing
  • Processing
  • Other Applications
• Industry
  • Handling
  • Automotive
  • Electrical & Electronics
  • Metals & Machinery
  • Plastics, Rubber, & Chemicals
  • Food & Beverages
  • Precision Engineering & Optics
  • Pharmaceuticals & Cosmetics
  • Other Industries
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

A list of the Key Players of the Global Industrial Robots Market is:

ABB (Switzerland), FANUC (Japan), YASKAWA(Japan) KUKA (Germany), Mitsubishi Electric (Japan) (Japan), Kawasaki Heavy Industries (Japan), Denso Corporation (Japan), NACHI-FUJIKOSHI (Japan), Seiko Epson (Japan), DÜrr (Germany), Universal Robots (Denmark), Stäubli (Switzerland), Comau (Italy), B+M SURFACE SYSTEMS (Germany), ICR Services (US), IRS Robotics (Netherlands), Hyundai Robotics (South Korea), Siasun Robotics (China), RobotWorx (US), Techman Robot (Taiwan), Rethink Robotics (Germany), FrankaEmika (Germany), F&P Robotics (Switzerland), Bosch Rexroth (Germany)

The Global Industrial Robots Market Scope can be Tabulated as below: