Industrial Robots Market – Growing Implementation of Industrial Robots in Numerous Applications is Expected to Lead the Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 12.1% from 2022 to 2028

Industrial Robots
  • Industrial Robots Market

As stated in our extensive report, the Global Industrial Robots Market accounted forUSD 45.1 Billionin 2021.

An Industrial Robot is a mechanical device that receives input to carry out automatic tasks associated with industrial production. According to usage and industrial requirements, these robots' programs can be modified as often as necessary. Industrial Robotsboost productivity while cutting costs and providing high-quality goods for automation applications. Robotic manipulators, sensors, controls, drives, end-effectors, and robotic manipulators make up the majority of Industrial Robots. The robot's brain is the robotic controller, which aids in giving commands. Robot sensors such as microphones and cameras are employed to keep the machine aware of its surroundings. The end effectors assist in interacting the robot with the workpieces, whereas the robotic manipulator is typically the robot's arm that aids movement and placement.

An important factor accelerating market growth is increased investments in innovations and automation. Other important factors include the increase in demand for automation activities, the reduction of customs duties in the industry, the rise in demand for minimizing defects, waste, and downtime, the high demand for automation, the rise in labor costs, and the shortage of skilled workers, and the increase in investments in Research and Development (R&D) activities. Additionally, during the forecast period given above, the market for Industrial Robots will see expansion in new application areas, emerging economies, and the robotics and Artificial Intelligence (AI) industries. Automation will make it easier for electronics companies to innovate because it will take less time and money to create prototypes. Robots can be used throughout the production process, including assembly, dispensing, milling, inspecting, packaging, and palletizing. Improvements in end effectors and vision systems also fuel the need for robots in the desired orientation.

However, the initial expenditure required may be challenging for firms with little relevant experience. Large capital investments are necessary for various items, including procurement, integration, programming, accessories, and maintenance. This can prevent market growth. The market has significantly impacted the recent end of the COVID-19 pandemic. The abrupt closure of many industrial facilities and firms has substantially impacted supply chains and total production. On the other hand, it is anticipated that manufacturers of Industrial Robots will experience increased sales and surpass the challenges brought on by the epidemic.

The Asia Pacific holdsthe largest market share of the Industrial Robots Market over the forecast period. Growing automation, especially in Japan, China, and India, is anticipated to propel the sector's expansion. Additionally, as the population and average household income expand, so does the demand for goods for consumption and other items, leading to an expansion of the industry's production capacity. Similarly, there is an increasing need for customized vehicles and machinery, which requires high accuracy and quick manufacturing capabilities. To meet demand, the use of robots in industrial applications is expanding, further boosting the global market share. China is anticipated to hold the largest share of the market for these robots in 2021, both in terms of value and volume.

Notable and prominent players in the Global Industrial Robots Market include- 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), and others.