It is anticipated that the global industrial robots market will experience a compound annual growth rate (CAGR) of 11.3% in value terms during the forecast period. This growth trajectory is expected to culminate in a projected market value of USD 58,069 million by the year 2029.
The global industrial robots market can be categorized by product type, which includes articulated robots, Cobots, cylindrical robots, delta robots, linear robots, and SCARA robots. Among these, the articulated robot segment emerged as the dominant category in the market in 2023. Articulated robots are versatile, flexible, dexterous, and relatively simple, which has led to their widespread adoption across various industries. As a result, articulated robots accounted for over one-third of industrial robotics revenue in 2023, making them the most widely used type of industrial robot.
The industrial robots market can be segmented by application into automotive, electronics, metals, pharmaceuticals, food and beverage, plastics, and others. According to Tanalyze, the automotive sector maintains its position as a primary driver of robotic installations in manufacturing plants, consistently leading in this domain. The use of robots for diverse applications such as welding, painting, assembly, machine tending, handling, and material transport is anticipated to witness sustained global growth. Notably, there is an expected rise in the demand for collaborative robots across automotive applications. The industry is forecasted to achieve a compound annual growth rate (CAGR) of 13.6% from 2024 to 2029, ultimately reaching a revenue of $18.23 billion by 2029.
The global industrial robots market has experienced substantial revenue growth, primarily driven by the Asia Pacific region. In 2023, the market was valued at USD 18.93 billion and is projected to reach USD 39.09 billion by 2029, indicating a noteworthy CAGR of 12.4% during the forecast period. The deployment of industrial robots is expected to continue its rapid expansion, with the Asia-Pacific region emerging as a significant contributor to revenue growth in the forthcoming years. Notably, China has played a pivotal role in propelling revenue growth in Asian markets, recording the highest installations due to the rapid resurgence of manufacturing activities compared to other regions. Europe stands as the second-largest market for industrial robotics in 2023, with Germany boasting the largest installation base in the region and ranking fifth globally. The adoption of Industry 4.0 and digital transformation initiatives is fueling the demand for robotics in Germany, followed by Italy and France.
In the global industrial robots market, FANUC Corporation, ABB Ltd., Yaskawa Electric Corporation, KUKA AG, and Kawasaki Heavy Industries Ltd. emerge as the top five competitors, collectively holding a 30% market share in 2023. Notably, FANUC Corporation takes the lead with a 10% market share in the same year. The competitive landscape is further influenced by prominent vendors such as Fuji Yusoki Kogyo Co., Ltd., Seiko Epson Corporation, Nachi-Fujikoshi Corporation, COMAU S.p.A., DENSO Corporation, Duerr AG, HAHN Group GmbH, Mitsubishi Electric Corporation, Omron Adept Technology, Inc., and Universal Robots A/S, among others, who contribute to shaping the dynamics of the market.
This study aims to analyze the global market for various segments of industrial robots, including:
Product Type: Articulated Robots, Cobots, Cylindrical Robots, Delta Robots, Linear Robots, and SCARA (Selective Compliance Assembly Robot Arm) Robots.
Application: Automotive, Electronics, Metals, Pharmaceuticals, Food and Beverage, Plastics, and Others.
Region: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA).
Table of Contents
TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 4
Part 1. Key Findings 7
Part 2. Scope and Methodology 8
Report Scope 9
Product Type 9
Application 9
Region 9
Research Methodology 10
Part 3. Industrial Robots Market Overview 12
Summary 12
Introduction 13
Part 4. Market Dynamics 15
Growth Drivers and Future Trends 15
Restraints and Challenges 17
Opportunities 18
Part 5. Global Industrial Robots Market by Product Type 31
Articulated Robots 33
Cobots 33
Cylindrical Robots 34
Delta Robots 35
Linear Robots 36
SCARA Robots 36
Part 6. Global Industrial Robots Market by Application 37
Automotive 37
Electronics 38
Metals 38
Pharmaceuticals 39
Food and Beverage 40
Plastics 40
Others 40
Part 7. Global Industrial Robots Market by Region 42
North America Market by Application 46
Europe Market by Application 49
Asia Pacific Market by Application 51
Latin America Market by Application 54
MEA Market by Application 56
Part 8. Competitive Analysis 58
Competition Overview 58
Recent Developments 60
FANUC Corporation 62
Business Overview 62
Robotics 64
Contact Information 65
ABB, Ltd. 66
Business Overview 66
Contact Information 69
Yaskawa Electric Corporation 70
Business Overview 70
Robotics 72
Contact Information 73
KUKA AG 74
Business Overview 74
Robotics 76
Contact Information 77
Kawasaki Heavy Industries Ltd. 78
Business Overview 78
Contact Information 80
Other Leading Competitors 81
Disclaimer 82
FIGURES AND TABLES
Global Industrial Robots Market, Net Growth, 2020-2029 (USD Million)
Global Industrial Robots Market by Product Type, 2020-2029 (USD Million)
Global Industrial Robots Market by Product Type, CAGR Historic and Forecast, 2020-2029
Global Industrial Robots Market by Application, 2020-2029 (USD Million)
Global Industrial Robots Market by Application, CAGR Historic and Forecast, 2020-2029
Global Industrial Robots Market Share by Region, 2023
Global Industrial Robots Market by Region, 2020-2029 (USD Million)
Global Industrial Robots Market by Region, CAGR Historic and Forecast, 2020-2029
North America Industrial Robots Market by Application, 2020-2029 (USD Million)
North America Industrial Robots Market by Application, CAGR Historic and Forecast, 2020-2029
Europe Industrial Robots Market by Application, 2020-2029 (USD Million)
Europe Industrial Robots Market by Application, CAGR Historic and Forecast, 2020-2029
Asia Pacific Industrial Robots Market by Application, 2020-2029 (USD Million)
Asia Pacific Industrial Robots Market by Application, CAGR Historic and Forecast, 2020-2029
Latin America Industrial Robots Market by Application, 2020-2029 (USD Million)
Latin America Industrial Robots Market by Application, CAGR Historic and Forecast, 2020-2029
MEA Industrial Robots Market by Application, 2020-2029 (USD Million)
MEA Industrial Robots Market by Application, CAGR Historic and Forecast, 2020-2029
Global Industrial Robots Market Share by Competitors, 2022
FANUC Corporation Financial Overview (JPY Billion)
FANUC Corporation Revenue, by Segment, 2023
FANUC Corporation Revenue, by Region, 2023
FANUC Corporation Robotics Revenue (JPY Million) 2019-2023
ABB, Ltd. Financial Overview (USD Million)
ABB, Ltd. Revenue, by Type, 2022
ABB, Ltd. Revenue, by Segment, 2022
ABB, Ltd. Revenue, by Product, 2022
ABB, Ltd. Revenue, by Region, 2022
Yaskawa Electric Corporation Financial Overview (JPY Million)
Yaskawa Electric Corporation Revenue, by Segment, 2023
Yaskawa Electric Corporation Revenue, by Region, 2023
Yaskawa Electric Corporation Robotics Revenue (JPY Million)
Yaskawa Electric Corporation Robotics Revenue, by Region, 2023
Yaskawa Electric Corporation Robotics Revenue, by Application, 2023
KUKA AG Financial Overview (EUR Million)
KUKA AG Revenue, by Segment, 2022
KUKA AG Revenue, by Region, 2022
KUKA AG Robotics Revenue (EUR Million)
Kawasaki Heavy Industries Ltd. Financial Overview (USD Million)
Kawasaki Heavy Industries Ltd. Revenue, by Segment, 2023
Kawasaki Heavy Industries Ltd. Revenue, by Region, 2023