Industrial Robotics Market (2024-2031)
The Industrial Robotics Market was valued at $22.3 billion in 2023. This market is expected to reach $37.1 billion by 2031 from an estimated $23.4 billion in 2024, at a CAGR of 6.8% during the forecast period of 2024-2031. Industrial Robotics Market Size & Forecast The growth of this market is driven
- Published
- Nov 2024
- Pages
- 300
- Format
- PDF + Excel
- Report ID
- MRSE - 104592
- Base year
- 2023
- 2023 · BASELINE
- $22.30B
- 2031
- $37.10B
- CAGR 2024–2031
- 6.8%
2023 baseline · 2024–2031 forecast at 6.8% CAGR · hover a bar for the value
Key highlights
By Component: In 2024, the Robots Segment is Expected to Dominate the Global Industrial Robotics Market
By Payload: In 2024, the Up to 60 Kg Segment is Expected to Dominate the Global Industrial Robotics Market
By Application: In 2024, the Material Handling Segment is Expected to Dominate the Global Industrial Robotics Market
By End-use Industry: In 2024, the Automotive Segment is Expected to Dominate the Global Industrial Robotics Market
By Geography: Asia-Pacific to Dominate Industrial Robotics in 2024
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 300 |
| Format | |
| Forecast Period | 2024–2031 |
| Base Year | 2023 |
| CAGR (Value) | 6.8% |
| Market Size (Value) | USD 37.1 Billion by 2031 |
| Segments Covered | By Component · Robots · Articulated Robots · Collaborative Robots · Scara Robots · Cartesian Robots · Delta Robots · Polar Robots · Cylindrical Robots · Robot Accessories · End of Arm Tooling (EoAT) · Vision Systems · Sensors · Controllers · Software · By Payload · Up to 60 Kg · 60 to 100 Kg · 100 to 225 Kg · Above 225 Kg · By Application · Material Handling · Palletizing & Depalletizing · Stacker · Grain Elevators · Bucket Elevators · Welding & Soldering · Resistance Spot Welding · Arc Welding · Laser Welding · Plasma Welding · Ultrasonic Welding · Other Welding Applications · Assembling & Disassembling · Machine Tending · Grinding · Milling & Turning · Injection Molding · Other Applications · Dispensing · Processing · Inspection · Laser Inspection · Dimensional Checks · Vision Systems · Flow Tests · Leak Tests · Other Applications · By End-use Industry · Automotive · Electrical & Electronics · Metal & Machinery · Plastic & Chemicals · Oil & Gas · Food & Beverage · Aerospace & Defense · Biotechnology · Healthcare · Other End-use industries |
| Countries Covered | Asia-Pacific (China, Japan, South Korea, Taiwan, Singapore, India, Thailand, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific), Europe (Germany, Italy, Sweden, France, Austria, Denmark, Spain, Netherlands, Norway, U.K., and Rest of Europe), North America (U.S. and Canada), Latin America (Mexico, Brazil, and Rest of Latin America), and Middle East & Africa (UAE, Israel, Saudi Arabia, and Rest of Middle East & Africa) |
| Key Companies | ABB Ltd (Switzerland), Fanuc Corporation (Japan), YASKAWA Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Universal Robots A/S (A Part of Teradyne Inc,) (Denmark), Stäubli International AG (Switzerland), Techman Robot Inc (Taiwan), Denso Corporation (Japan), OMRON Corporation (Japan), HD Hyundai Co Ltd (South Korea), Bosch Rexroth AG (A Part of Robert Bosch GmbH) (Germany), Seiko Epson Corporation (Japan), Dürr Aktiengesellschaft (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), and Franka Robotics GmbH (Germany) |
Report overview
Segments covered: component, payload, application, end-use industry. Regions: Asia-Pacific, Europe, North America, Latin America, Middle East & Africa.
The growth of this market is driven by the increasing adoption of robots in the manufacturing sector and government support to encourage the adoption of industrial robots. Furthermore, increasing automation across the automotive and electronics sectors and rising focus on reducing human labor across industries are expected to generate growth opportunities for the stakeholders in this market.
Market dynamics
3 factors across 2 forcesIncreasing Adoption of Robots in the Manufacturing Sector
In the manufacturing sector, the adoption of robots has significantly increased, driven by their ability to revolutionize production processes and enhance operational efficiency. Robots are increasingly deployed for a range of tasks, including assembly and welding, packaging, and quality inspection, all aimed at boosting efficiency and reducing operational costs. These robots offer key advantages such as precision, speed, and consistency, which contribute to the production of higher-quality products. Moreover, robots can operate continuously without fatigue, resulting in increased productivity and reduced production time. The integration of advanced technologies like AI and machine learning further enhances robot capabilities, enabling adaptive manufacturing processes that can respond to changing demands in real time.
Many industries, including healthcare, agriculture, food & beverage, manufacturing, and processing, are increasingly utilizing robots to perform critical and time-consuming tasks with greater ease and efficiency. As adoption rates rise, several key players are introducing robotic solutions tailored for industrial applications. For example, in April 2024, Shenzhen Pudu Technology Co., Ltd. (China), a global leader in service robotics, launched the PUDU T300. This robot is designed to streamline operations by delivering supplies to production lines, transferring materials across various production zones, and assisting with the transport of samples for quality checks. Such advancements are driving the growing demand for industrial robots in the manufacturing sector.
Government Support to Encourage the Adoption of Industrial Robots
Governments worldwide have developed national strategies to promote Industry 4.0, which includes integrating robotics, artificial intelligence, and the Internet of Things (IoT) into manufacturing processes. These initiatives are designed to encourage automation, boost productivity, and enhance competitiveness across industries. In addition, governments are implementing policies that offer financial incentives, such as grants, tax breaks, and subsidies, to companies investing in robotic technologies. These growing government incentives are expected to drive the continued growth of industrial robots during the forecast period.
Moreover, rapidly growing countries such as China, Japan, the U.S., South Korea, and Germany are increasingly taking initiatives to integrate industrial robots across various sectors. Governments in these countries are actively supporting robotics development by providing funding for research and development (R&D) programs in robotics across multiple industries. Some of the recent developments by various governments are as follows:
- The Ministry of Industry and Information Technology (MIIT) (China) launched the 14th Five-Year Plan for Robot Industry Development in China to promote innovation. The goal is to make China a global leader in robot technology and industrial advancement. For the next five years, robotics will be included in eight key industries.
- In 2022, the government of Japan launched the New Robot Strategy to make the country the world´s number one robot innovation hub. The Japanese government provides USD 930.5 million for manufacturing and service projects, including those related to autonomous driving, advanced air mobility, and the development of integrated technologies that will be the core of next-generation artificial intelligence and robots.
- The Korean government launched the 3rd Basic Plan on Intelligent Robots of South Korea with funding of USD 172.2 million for the 2022 Implementation Plan for the Intelligent Robot.
Such growing developments will help increase the growth of industrial robots worldwide with the help of government initiatives and funding during the forecast period.
Table of contents
12 chapters · 174 sections · 300 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Component | Robots | — |
By Component
- The Robots Segment is Expected to Dominate the Industrial Robotics Market in 2024
- The industrial robotics market is segmented by component into robots, robot accessories, software, and controllers.
- The robots segment is estimated to account for the largest share of the global industrial robotics market.
- The large share of this segment is driven by the growing demand for robots capable of performing a wide range of applications.
- Robots can be programmed to carry out repetitive and hazardous tasks with consistent precision, accuracy, and quality.
- Additionally, the rising adoption of robots is fueled by advancements in technology that enable them to operate continuously, even in harsh environments.
- There is also an increasing need for robots to enhance productivity and reduce labor costs, further contributing to the segment's growth.
- Robots play a critical role in plant instrumentation, capable of handling, dispensing, sorting, palletizing, cutting, finishing, and sealing products.
- The growing demand for robots is driven by their ability to serve a wide range of applications, as they can be programmed to perform repetitive and hazardous tasks with consistent precision, accuracy, and quality.
- Robots operate continuously, even in harsh environments, which boosts productivity and profitability while reducing the reliance on human labor for tasks that could lead to physical injury, thereby enhancing workplace safety and lowering labor costs.
- Additionally, hygiene is a key concern in industries such as food, pharmaceuticals, and chemicals.
- Robots help minimize manual contact with final products, significantly reducing the risk of contamination.
- The integration of multiple data platforms provides valuable insights into operations, enabling businesses to make data-driven decisions that enhance efficiency.
- This has accelerated the adoption of robotics across both process and discrete industries.
- Robotics applications span manufacturing, quality control, transportation, and warehousing.
- For example, in September 2024, Kawasaki Heavy Industries, Ltd. (Japan) introduced the CL Series of intelligent collaborative robots (cobots) at IMTS in Chicago.
- The CL Series, available in various payload capacities, offers new industrial robotic solutions for applications such as welding, machine tending, and material removal.
- These cobots provide manufacturers with unparalleled flexibility and advanced capabilities, empowering them to tailor automation solutions to meet a wide range of operational needs.
Geographic analysis
Asia-Pacific
Largest shareIn 2024, Asia-Pacific is estimated to account for the largest share of the global industrial robotics market. This large share is primarily attributed to the growing presence of robot manufacturers in the region, the increasingly developed manufacturing industries in Asia-Pacific, and the rising demand for robotics due to higher labor costs and labor shortages. As a result, Asia-Pacific is expected to register the highest CAGR during the forecast period. Asia-Pacific Dominates the Industrial Robotics Market in 2024
Competitive landscape
- June 2024
Agora Robotics (Romania), a tech company focused on developing user-friendly autonomous mobile robots for industrial floor cleaning and logistics, launched Sweep—the first autonomous industrial robot designed to clean hard floors in warehouses, factories, hotels, commercial spaces, railway stations, airports, hospitals, and more. Weighing 115 kg, the industrial robot can clean up to approximately 8,700 square meters within a 24-hour period.
- April 2024
Viam Inc. (U.S.), the open-source platform for smart machines, partnered with KUKA AG (Germany), the leading global supplier of intelligent robot-based solutions. The partnership aimed at deploying and integrating the Viam software platform with KUKA robotic arms.
- February 2024
OMRON Corporation (Japan) launched TM S Series Collaborative Robots in India. These robots combine faster joints and expanded safety features, making them ideal solutions for improving the efficiency of factories in workspaces shared with humans. They also create a more flexible and productive environment, fostering seamless collaboration between humans and machines.
- March 2022
ABB Ltd. (Switzerland) launched two manufacturing robots, IRB 5710 and IRB 5720. The new robots are suitable for a wide range of production tasks, including material handling, machine tending, and assembly. They also help specific operations in electric vehicle (EV) manufacturing, such as battery module picking and placing, high-precision assembly, and parts handling.
- Fanuc Corporation · Japan
- YASKAWA Electric Corporation · Japan
- KUKA AG · Germany
- Mitsubishi Electric Corporation · Japan
- Kawasaki Heavy Industries, Ltd. · Japan
- Stäubli International AG · Switzerland
- Techman Robot Inc · Taiwan
- Denso Corporation · Japan
- OMRON Corporation · Japan
- HD Hyundai Co Ltd · South Korea
- Seiko Epson Corporation · Japan
- Dürr Aktiengesellschaft · Germany
- Comau S.p.A · Italy
- F&P Robotics AG · Switzerland
- Franka Robotics GmbH · Germany
Frequently asked questions
The global industrial robotics market size was valued at $22.3 billion in 2023.
Cite this report
Meticulous Research. (2024). Industrial Robotics Market - Global Opportunity Analysis And Industry Forecast (2024-2031) (Report No. MRSE - 104592). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/industrial-robotics-market-5278