PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1437841
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1437841
The global articulated robot market is set for significant expansion over the coming decade, with sales projected to surge at a Compound Annual Growth Rate (CAGR) of 10.0%. In 2024, the market valuation stood at US$ 10 billion, and by the end of 2031, it is forecasted to reach US$ 20 billion. This growth is primarily attributed to the increasing adoption of automation across various industries, driving demand for articulated robots worldwide.
Key Market Drivers
Market Dynamics
Articulated robots, with their resemblance to the human arm and mechanical benefits, have become the most commonly used type of industrial robot worldwide. These robots, powered by electric motors or other means, perform a wide range of functions including assembling, handling, welding, cutting, and dispensing. They offer higher accuracy, repeatability, and improved productivity, thereby reducing manufacturing costs and minimizing labor requirements.
Factors Limiting Market Expansion
Despite the increasing rate of adoption, certain factors limit the expansion of the articulated robot market. Challenges such as high initial investment, research costs, and the need for reconfiguration hinder their widespread use, particularly in low-volume manufacturing. Additionally, interoperability issues and concerns regarding security and data privacy pose challenges for integrating articulated robots with IoT systems.
Country-wise Insights
United States Market: The United States articulated robot market is projected to reach US$ 3.0 billion by 2031. Rising automation across manufacturing industries and implementation of stringent worker safety regulations are driving market growth in the US.
China Market: China continues to dominate the global articulated robot industry, with sales forecasted to reach US$ 5.2 billion by 2031. The country's growing popularity of factory automation and the presence of leading articulated robot manufacturers contribute to its market dominance.
Category-wise Insights
Payload Capacity Segment: Demand for articulated robots with up to 16 Kg payload capacity is on the rise, driven by increasing adoption in the automotive industry for welding and painting applications, as well as handling tasks across various sectors. This segment is expected to thrive at a CAGR of 9.2% over the next decade.
Function Segment: The handling segment is anticipated to hold a significant share of the global articulated robot industry, with a projected CAGR of 9.1% from 2024 to 2031. High adoption in the automotive industry for handling heavy parts, along with usage in other sectors, will contribute to market growth.
Competitive Landscape
Key articulated robot manufacturers are focusing on expanding their portfolios by launching advanced solutions and forming alliances and partnerships to increase sales. These strategic initiatives aim to capitalize on the growing demand for articulated robots globally.
Key Companies Profiled