Global Industrial Robotics Market Report by Segment (Automotive Industry, Electrical & Electronics, Metal & Machinery, Plastic & Chemical Products, Food, and Others), Countries and Company Analysis, 2024-2032

Driving Forces of Global Industrial Robotics Market-

Increased Interest in Industry 4.0 Affects Industrial Robotics Sales:

Automation and technology-based manufacturing have replaced high labor-intensive manufacturing in the industrial sector. Many manufacturing companies are seeing a major transformation in their operations because to robots.

Automated technologies, including industrial robotics, are becoming more and more popular worldwide as the manufacturing sector continues to be impacted by the industry 4.0 movement. Leading companies in the industry are concentrating on releasing innovative robots in order to take advantage of current prospects, citing this trend.

For example, in 2018 the innovative technology leader ABB Group, based in Switzerland, announced the launch of its latest industrial SCARA robots, the IRB 910INV, which are installed on the ceiling. The robot offers great flexibility and increases efficiency by working in tandem with other equipment and robots. In the upcoming years, it is anticipated that these factors would strengthen the industry.

Growing Priority for Car Manufacturing Boosts Industrial Robotics Demand:

Globally, there has been a significant increase in passenger car sales due to rising per capita income and soaring demand for automobiles, particularly in developing nations. The International Energy Agency (IEA) estimates that 88 million passenger automobiles were sold globally in 2019.

Because of this, a number of automakers are trying to boost their output by implementing cutting-edge technologies like robotics. For example, in April 2021, Plus One Robotics, a well-known supplier of vision software for logistic industrial robots, and BMW i Ventures, Inc. established a partnership. The company hopes to automate the supply chain and vehicle logistics through this partnership.

Because industrial robots are widely used in automotive manufacturing processes including welding, painting, assembling, and lifting, among others, increased focus on growing automotive output is anticipated to support market expansion.

Key challenges in the industrial robotics market:

High Initial Investment Costs

One of the significant challenges facing the industrial robotics market is the high initial investment required for robotics systems. Small and medium-sized enterprises (SMEs) often struggle to afford the capital needed to purchase, install, and maintain robotic systems. While automation can lead to long-term savings and efficiency gains, the upfront costs can be a substantial barrier to entry for many businesses. Additionally, the complexity of integrating robotics into existing manufacturing processes can require further investments in training and system upgrades. This financial hurdle can hinder widespread adoption, especially in industries where profit margins are tight.

Technological Complexity and Integration Issues

The increasing complexity of robotic technologies presents another challenge in the industrial robotics market. As robotics evolve, they require advanced programming, sophisticated sensors, and seamless integration with existing manufacturing systems. This complexity can lead to difficulties in implementation and maintenance, necessitating significant process reengineering. This highlights the need for strategic planning and adaptability. Furthermore, integrating robots into traditional manufacturing environments can disrupt existing workflows. Companies must invest in training and development to equip their staff with the necessary skills, which can slow down adoption rates and hinder productivity improvements in the short term.

North America Industrial Robotics Market

By taking steps to promote the advancement of cutting-edge technology in the robotics industry, the regional government is also promoting the use of robotics. To enhance the capacity to construct domestic robots and promote research endeavours in this domain, the US federal government launched the National Robotics Initiative (NRI) initiative.

United States Steel and Carnegie Foundry, a robotics and artificial intelligence studio, announced a strategic partnership and investment in February 2022. The two Pittsburgh-based businesses are teaming up to use artificial intelligence and sophisticated robots to expedite and expand industrial automation. With the help of this finance, Carnegie Foundry plans to expand and promote its robotics and artificial intelligence (AI) industrial automation portfolio, which includes products for advanced manufacturing, industrial robots, integrated systems, autonomous mobility, voice analytics, and other fields. 

The first industrial collaboration robot in Canada, Link 6, was unveiled by Kinova Robotics in March 2022. Link 6, the first industrial collaborative robot in Canada, offers automation solutions that improve the quality and uniformity of products while boosting everyday production. Longer reach and quicker movements allow the Link 6 robotic arm to achieve rapid cycle times. It is designed to be used by operators with little prior robotics knowledge as well as seasoned industrial integrators. The most processing power and memory capacity available on the market is found in the Kinova Link 6 controller. Its compatibility with an extra GPU keeps the controller small and available for usage with AI solutions in the future.

Europe Industrial Robotics Market

The European industrial robotics market is experiencing significant growth, driven by increased automation across various industries, including automotive, electronics, and consumer goods. The demand for efficient production processes and enhanced productivity pushes manufacturers to adopt robotic solutions. Supportive government policies and investments in technology further fuel market expansion.

Germany Industrial Robotics Market

Germany's industrial robotics market is one of Europe's largest and most advanced, driven by a strong manufacturing sector, particularly in automotive and machinery. The increasing need for automation to enhance productivity, reduce labor costs, and improve precision propels market growth. German manufacturers are investing in innovative robotic solutions, including collaborative robots (cobots) that work alongside human workers, enhancing flexibility on the production line. Additionally, the emphasis on Industry 4.0 and innovative manufacturing initiatives is driving the integration of advanced robotics with artificial intelligence and IoT technologies. As a result, Germany is set to maintain its leadership in industrial robotics.

Asia Pacific Industrial Robotics Market

The Asia Pacific industrial robotics market is rapidly expanding, driven by rising demand for automation in manufacturing sectors such as automotive, electronics, and consumer goods. Countries like China, Japan, and South Korea are at the forefront, investing heavily in robotics technology to enhance efficiency, productivity, and competitiveness in the global market. April 2024, Pudu Robotics has launched its first robot for industrial applications, the PUDU T300.

China Industrial Robotics Market

China's industrial robotics market is witnessing remarkable growth, fueled by the country's push for advanced manufacturing and automation. As the world's largest manufacturer, China invests heavily in robotics to enhance productivity, reduce labor costs, and improve product quality across various sectors, including automotive, electronics, and consumer goods. The government’s initiatives, such as the "Made in China 2025" plan, aim to elevate the country’s manufacturing capabilities by promoting the adoption of smart technologies. Additionally, the increasing demand for automation in response to labor shortages and rising wages further propels the market. With ongoing technological advancements, China is positioned to lead in industrial robotics globally. Aug 2024, At the green energy-powered engine manufacturing base of Weichai Power Co., Ltd. in east China's Shandong Province, automated guided vehicles shuttle and position engine parts via QR codes to ensure they reach their different production line locations.

Global Industrial Robotics Company Analysis:

Some leading Industrial Robotics companies are KUKA, iRobot Corporation, Intuitive Surgical Inc., Panasonic Corporation, Fanuc, ABB Ltd., Stryker Corporation.

Global Industrial Robotics Company News:

May 2024: At Automate 2024, ABB, a producer of industrial robots, presented their most recent modular big robots. These robot arms now offer 46 different versions in addition to the IRB 5710-5720 and IRB 6710-6740 models that were previously introduced. These versions can handle weights weighing between 70 and 620 kg, or around 150 and 1,350 pounds.

March 2024: The MiR1200 autonomous pallet jack is the newest product that Mobile Industrial Robots has released. The MiR1200 Pallet Jack is outfitted with cutting-edge 3D vision technology and is intended to simplify labour-intensive material handling tasks. This robot can dynamically modify its path to ensure navigation even in the presence of obstructions like loose items on the ground or impediments hanging overhead.

Key Questions Answered in This Report:

Question:    How big is the Industrial Robotics Industry?

Question:   What is the Industrial Robotics Industry growth rate?

Question:   Who are the key players in Industrial Robotics Industry?

Question:   What are the factors driving the Industrial Robotics Industry?

Question:   Which Region held the largest market share in the Industrial Robotics Industry?

Segments – Market & Volume has been covered from 6 viewpoints:

1. Automotive Industry & Forecast
2. Electrical & Electronics Industry & Forecast
3. Metal &Machinery Industry & Forecast
4. Plastic & Chemical Products
5. Food Industry & Forecast
6. Others

Countries – Market has been covered from 16 viewpoints:

•    America

o    United States
o    Canada
o    Mexico
o    Others

•    Europe

o    France
o    Germany
o    Italy
o    Spain
o    Others

•    Asia Pacific

o    China
o    India
o    Japan
o    Republic of Korea
o    Thailand
o    Others

•    Rest of the World

Company Insights:

• Overview
• Recent Development
• Product Portfolio
• Revenue

Key Players Analysis:

1. KUKA
2. iRobot Corporation
3. Intuitive Surgical Inc.
4. Panasonic Corporation
5. Fanuc
6. ABB Ltd.
7. Stryker Corporation

Report Details: