Industrial Robotics Market to be Worth $37.1 Billion by 2031

 

Meticulous Research®—a leading global market research company, published a research report titled ‘Industrial Robotics Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the industrial robotics market is projected to reach $37.1 billion by 2031, at a CAGR of 6.8% from 2024–2031.

The industrial robotics market is experiencing growth due to government support encouraging the adoption of industrial robots and the increasing use of robots in the manufacturing sector. However, market growth is hindered by high initial investment requirements and performance issues with robots.

In addition, the increasing automation across the automotive and electronics sectors and the rising focus on reducing human labor across industries are potential growth opportunities for market players. The market faces substantial challenges, including a lack of skilled professionals and safety issues with robots while working with other industrial systems.

Furthermore, the surging adoption of IoT technology for remote monitoring and control of robotic systems and the growing use of human-robot collaboration to automate tasks are prominent trends in the industrial robotics market.

Key Players:

The industrial robotics market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the industrial robotics market are ABB Ltd (Switzerland), Fanuc Corporation (Japan), YASKAWA Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Universal Robots A/S (A Part of Teradyne Inc,) (Denmark), Stäubli International AG (Switzerland), Techman Robot Inc (Taiwan), Denso Corporation (Japan), OMRON Corporation (Japan), HD Hyundai Co Ltd (South Korea), Bosch Rexroth AG (A Part of Robert Bosch GmbH) (Germany), Seiko Epson Corporation (Japan), Dürr Aktiengesellschaft (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), and Franka Robotics GmbH (Germany).

The industrial robotics market is segmented based on component, payload, application, and end-use industry. The report also evaluates industry competitors and analyzes the industrial robotics market at the regional and country levels.

Among the components studied in this report, the robots segment is anticipated to dominate the industrial robotics market in 2024. The widespread adoption of robots by consumers is driving the expansion of their application across various industries. Robots are increasingly utilized to perform repetitive and hazardous tasks with consistent precision, accuracy, and quality. Key factors contributing to the segment's dominant position in the industrial robotics market include the growing demand for robots to enhance workplace safety, reduce labor costs, improve productivity and profitability, and minimize the risk of physical injury by reducing reliance on human labor for potentially dangerous activities.

Among the payload studied in this report, the up to 60 kg segment is anticipated to dominate the industrial robotics market in 2024. The rising demand for robots with payload capacities of up to 60 kg, driven by increased automation in the electrical and electronics industries for assembly and handling applications, is a key factor in the growth of this segment. Additionally, the widespread adoption of these robots across diverse sectors, including automotive, electronics, logistics, food, pharmaceuticals, and cosmetics, further strengthens their dominant position in the industrial robotics market.

Among the applications studied in this report, the material handling segment is anticipated to dominate the industrial robotics market in 2024. The growing adoption of material handling robots to automate repetitive, labor-intensive, and hazardous tasks on production lines is a key factor driving the growth of this segment. Additionally, the rising demand for material handling robots to enhance production line efficiency and improve customer satisfaction by ensuring timely delivery of high-quality products further contributes to the segment's dominant position in the industrial robotics market.

Among the end-use industries studied in this report, the automotive segment is anticipated to dominate the industrial robotics market in 2024. The growing adoption of robotics in the automotive industry is driven by manufacturers' need to accelerate production, reduce costs, enhance quality, and ensure worker safety. Key benefits offered by industrial robots in this sector—including cost-effectiveness, improved efficiency, enhanced safety, and increased speed and precision—are significant factors contributing to the segment’s dominant position in the industrial robotics market.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of Asia-Pacific (China, Japan, South Korea, Taiwan, Singapore, India, Thailand, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific), Europe (Germany, Italy, Sweden, France, Austria, Denmark, Spain, Netherlands, Norway, U.K., and Rest of Europe), North America (U.S. and Canada), Latin America (Mexico, Brazil, and Rest of Latin America), and Middle East & Africa (UAE, Israel, Saudi Arabia, and Rest of Middle East & Africa).

Asia-Pacific is anticipated to dominate the industrial robotics market in 2024. The widespread adoption of robotics in the region is driven by rising labor costs and the increasing need for manufacturers to automate production processes to manage cost expenses effectively. Additionally, the growing demand for robotics, fueled by the rapid development of industries such as automotive, electronics, consumer goods, and pharmaceuticals, is a key factor contributing to the region's dominant position in the industrial robotics market.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5278

Key Questions Answered in the Report-

  • What is the value of revenue generated by the sale component, payload, application, and end-use industry?
  • At what rate is the global demand for industrial robotics projected to grow for the next five to seven years?
  • What is the historical market size and growth rate for the industrial robotics market?
  • What are the major factors impacting the growth of this market at global and regional levels?
  • What are the major opportunities for existing players and new entrants in the market?
  • Which offering segments create major traction in this market?
  • What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the h industrial robotics market?
  • Who are the major players in the industrial robotics market? What are their specific product offerings in this market?
  • What recent developments have taken place in the industrial robotics market? What impact have these strategic developments created on the market?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

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