Global Industrial Robots Market Size, Share, Growth Analysis, By Application(Handling, Assembling & Disassembling), By End Use(Automotive, Electrical) - Industry Forecast 2023-2030

Global Industrial Robotics Market size was valued at USD 26.52 Billion in 2022 and is poised to grow from USD 29.30 Billion in 2023 to USD 65.14 Billion by 2031, at a CAGR of 10.50% during the forecast period (2024-2031).

The Global Industrial Robotics Market serves as a transformative influence in modern manufacturing, blending advanced technology with industrial expertise to automate and enhance production processes across diverse industries. Equipped with sophisticated sensors, actuators, and intelligent programming, industrial robots drive efficiency, precision, and productivity in factories worldwide. Companies adopt industrial robotics to optimize operations, streamline workflows, and minimize human involvement in tasks requiring precision and repeatability, spanning applications such as welding, assembly, and material handling. While the pursuit of operational excellence propels market growth, challenges include the substantial initial investment, complexities in integration and training, and concerns about job displacement and workforce upskilling. Addressing these challenges, opportunities emerge through AI and ML integration, customized solutions, and the expansion of collaborative robot capabilities, alongside the exploration of service robotics in healthcare and logistics.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Industrial Robotics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Global Industrial Robotics Market Segmental Analysis

Global Industrial Robotics Market is segmented on the Application, End-Use and region. By Application, the market is segmented into Handling, Assembling & Disassembling, Welding & Soldering, Cleanroom, Dispensing, Processing, Others. By End-Use, the market is segmented into Automotive, Electrical/Electronics, Metal/Heavy Machinery, Chemical, Rubber, & Plastics, Food, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Industrial Robotics Market

Shortages of skilled labour, particularly prevalent in sectors like manufacturing, prompted firms to deploy automation solutions such as industrial robots to sustain productivity and uphold quality standards. For instance, businesses operating in fields like electronics and automotive embraced robotic technology to address labour shortages and achieve production goals.

Restraints in the Global Industrial Robotics Market

The substantial initial expenditure needed to procure and integrate industrial robots may act as a deterrent for smaller businesses in embracing automation. Nevertheless, with technological advancements and the effect of economies of scale, the expenses associated with industrial robots are steadily diminishing.

Incorporating industrial robots into established manufacturing workflows can present complexities and require significant time investment. It's crucial for companies to guarantee seamless synchronization of the robots with other machinery and systems. This integration complexity may impede rapid adoption, particularly for firms with limited experience in implementing automation.

Market Trends of the Global Industrial Robotics Market

In 2022, there was a heightened emphasis on integrating artificial intelligence (AI) into industrial robots to drive automation. AI-enabled robots are capable of making instantaneous decisions by analysing data, thereby enhancing their adaptability and efficiency. For example, robots equipped with AI can enhance their paths and movements in environments that are constantly changing.

Sustainable automation emerged as a prominent trend as companies aimed to minimize their environmental footprint. There was a growing preference for robots engineered to prioritize energy efficiency and minimize waste. For instance, robots that consume less energy and emit fewer emissions gained popularity among environmentally conscious manufacturers.