Global Industrial Robots Market

Industrial Robots Market Size, Share, Growth Analysis, By Application(Handling, Assembling & Disassembling, Welding & Soldering, Cleanroom), By End Use(Automotive, Electrical, Metal/Heavy Machinery, Chemical), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20I2134 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 69 | Figures: 77

Industrial Robots Market News

  • In 2024, Toyota Material Handling Europe introduced the CDI120, an automated pallet carrier specifically designed for warehouse applications. The CDI120 offers a new solution for the horizontal transport of goods and integrates seamlessly with Toyota Material Handling’s existing lineup of vehicles, which includes pallet trucks, stackers, forklifts, and reach trucks. 

  • In 2024, a significant trend in industrial robotics is human-machine collaboration, which is fueling growth in the sector. Collaborative robots, or "cobots," are designed to safely interact with humans within shared workspaces and are increasingly being adopted across various industries. 

  • In May 2023, ABB, a global leader in industrial robotics, introduced the ABB SafeMove2, a collaborative robot aimed at enhancing safety and efficiency in industrial operations. Other recent additions to the collaborative robot market include the CRX 10-iA from FANUC, released in 2020, and the EZ small robot from Nachi-Fujikoshi Corp, launched in 2021. 

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Industrial Robots Market size was valued at USD 26.66 billion in 2023 and is poised to grow from USD 29.65 billion in 2024 to USD 62.42 billion by 2031, growing at a CAGR of 11.22% during the forecast period (2024-2031). 

The major companies in the market utilize tactics such as alliances, purchases, ventures, inventions, R&D, and geographic expansions to strengthen their positions in the market and the industry. In order to remain competitive, businesses are putting more effort into enhancing their product offerings to better meet users' evolving needs. 'ABB (Switzerland)', 'FANUC Corporation (Japan)', 'Yaskawa Electric Corporation (Japan)', 'KUKA AG (Germany)', 'Kawasaki Heavy Industries Ltd. (Japan)', 'Universal Robots A/S (Denmark)', 'Mitsubishi Electric Corporation (Japan)', 'Denso Corporation (Japan)', 'Comau S.p.A (Italy)', 'Nachi-Fujikoshi Corporation (Japan)', 'Epson Robots (Japan)', 'Stäubli International AG (Switzerland)', 'Omron Corporation (Japan)', 'Adept Technology Inc. (United States)', 'Hanwha Robotics (South Korea)', 'FANUC Robotics America Inc. (United States)', 'Panasonic Corporation (Japan)', 'Toshiba Machine Co., Ltd. (Japan)', 'Hyundai Robotics (South Korea)', 'KAWASAKI Robotics GmbH (Germany)', 'Aurotek Corporation (Taiwan)', 'Siasun Robot & Automation Co., Ltd. (China)'

Industrial robots offer higher speed, precision, and consistency compared to human workers. They can work continuously without breaks and do not experience fatigue, resulting in improved production efficiency. With the rising demand for faster and more efficient production processes, industrial robots are being deployed to streamline operations and optimize output.

Vision systems play a crucial role in industrial robotics by providing robots with the ability to perceive and understand their surroundings. Vision-guided robots can perform tasks such as object recognition, quality inspection, and precise manipulation. The advancements in camera technology, image processing, and deep learning algorithms have significantly enhanced the capabilities of vision systems in industrial robots.

In 2024, the Asia Pacific region controlled the industrial robot’s market and contributed more than 65% of the market. During the foreseeable term as well, the region is anticipated to continue to rule. Many industries and enterprises that use industrial robots for manufacturing operations are found in the Asia Pacific region. Additionally, there is substantial room for growth for the local industry due to the rising trend towards automation, artificial intelligence, and other cutting-edge technology.

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Global Industrial Robots Market

Report ID: SQMIG20I2134

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