PUBLISHER: The Insight Partners | PRODUCT CODE: 1843293
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843293
The Europe collaborative robots market was valued at approximately USD 636.08 million in 2023 and is projected to grow significantly, reaching around USD 5,154.38 million by 2031, with an impressive compound annual growth rate (CAGR) of 29.9% during the forecast period from 2023 to 2031.
Growth Drivers in the Manufacturing Sector
The rapid growth of the global manufacturing sector is a key factor propelling the demand for collaborative robots in Europe. As various regions invest in new manufacturing facilities, there is a strong push towards adopting advanced technologies to boost productivity, enhance customer satisfaction, and maintain competitive advantages. This trend is further fueled by global economic growth, which is driving a technological renaissance in manufacturing. Factories are increasingly modernizing their operations, leading to greater investments in emerging technologies, including collaborative robots, to improve efficiency and production cycles.
Overview of the European Collaborative Robots Market
According to the European Automobile Manufacturers Association (ACEA), the European Union (EU) is responsible for 21% of global car production, with major manufacturers like BMW, Volkswagen, Audi, and Aston Martin leading the way. Germany stands out as the largest contributor to the automotive market in Europe, holding over 29% of the market share. The country is home to significant automotive manufacturers such as VW, BMW, Opel, Daimler AG, and Audi, producing more than 6 million passenger and commercial vehicles annually. The robust automotive sector, coupled with the rise of electric vehicle production, is expected to further drive the growth of the collaborative robots market in the region.
A notable initiative in this field is the VALERI project, which focuses on the validation of advanced collaborative robots for industrial applications. This project is coordinated by the Fraunhofer Institute for Factory Operation and Automation (IFF) in Germany, in collaboration with industrial partners including FACC, IDPSA, and Airbus.
Market Segmentation Analysis
The Europe collaborative robots market is segmented based on various criteria, including payload, application, type, end-user industry, functionality, and country.
Key Players in the Market
Several prominent companies are active in the European collaborative robots market, including:
These companies are at the forefront of innovation and development in the collaborative robots sector, contributing to the market's growth and evolution.