Industrial Robots Market Expected to Surpass USD 25,828.99 Million by 2033, Expanding at a 17.20% CAGR

Posted on 2024-09-12 by Future Market Insights in Industrial, Technology // 0 Comments

The global industrial robots market is set for substantial growth, with projections indicating it will surpass USD 25,828.99 million by 2033. This growth is driven by a robust Compound Annual Growth Rate (CAGR) of 17.20%, up from USD 5,282.40 million in 2023.

A major driver behind this expansion is the rise of the Robot-as-a-Service (RaaS) model, which is revolutionizing factory automation. RaaS offers a flexible and cost-effective approach to integrating robotics into business operations. By utilizing subscription-based robotic services, companies can avoid the large upfront investments typically required for purchasing robotic equipment, thus preserving capital and enhancing financial flexibility. This model enables businesses to quickly and efficiently respond to market changes, significantly accelerating the growth of the industrial robots market.

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Key Takeaways from the Market Study:

By end use, electric and electrical industry is expected to procure 40% market share for industrial robots.
China is expected to account for 45% of the total Industrial Robots in 2022
U.S. is expected to hold 40% market share for industrial robots in 2022
France is expected to possess 30% market share for industrial robots

“Industrial robots have the potential to change the functioning of end user industries. Multitasking, precision and accuracy are making industrial robots a popular option across industries. This, in turn, is gaining traction for the same.” – states an FMI analyst

Market Competition:

Key players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation and ABB Limited.

Denso Corporation, a key player in the industrial robots market is focusing on studying the infrastructure and requirements of end user industries and designing industrial robots for the same.
Mitsubishi Electric Corporation, is focusing on research for designing industrial robots. The company is developing industrial robots that can carry out complex tasks easily.

Key Segments Profiled in the Industrial Robots Industry Survey:

Industrial Robots by Product Type:

Industrial Robots by Articulated Robots
Industrial Robots by SCARA Robots
Industrial Robots by Parallel Robots
Industrial Robots by Cartesian Robots
Industrial Robots by Cylindrical Robots
Industrial Robots by Others

Industrial Robots by End Use:

Industrial Robots by Automotive
Industrial Robots by Electrical & Electronics
Industrial Robots by Metals & Machinery
Industrial Robots by Chemicals, Plastic & Rubber
Industrial Robots by Food & Beverages
Industrial Robots by Healthcare
Industrial Robots by Construction
Industrial Robots by Others

Industrial Robots by Applications:

Industrial Robots by Material Handling
Industrial Robots by Welding & Soldering
Industrial Robots by Assembly & Disassembly
Industrial Robots by Painting & Dispensing
Industrial Robots by Others

Industrial Robots by Technology:

Industrial Robots by Automatic
Industrial Robots by Semi- Automatic
Industrial Robots by Manual

Region:

North America Industrial Robots Market
Latin America Industrial Robots Market
Europe Industrial Robots Market
Asia Pacific Industrial Robots Market
Middle East & Africa Industrial Robots Market

About the Industrial Automation Domain at Future Market Insights:

The industrial automation domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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