Industrial Robotics Industry is estimated to grow at a CAGR of 14.2 % during 2022–2025

Posted by kartik joshi on September 28th, 2022

Industrial robotics market was valued at US$ 16,847.6 million in 2017 and is evaluated to grow at US$ 48,166.9 million by 2025 with a CAGR of 14.2% during the forecast period. The rapid expansion in the manufacturing industry, the constant rise in labor costs and the need for accuracy in production, and increased government support for developing and deploying robotics are the factors leading toward market expansion.

The global manufacturing industry is rapidly expanding as growing number of players are investing in adopting manufacturing plants in their regions. Moreover, the manufacturing industry is highly driven due to the increasing economic growth. The industry is in the middle of a technological renaissance that is changing the outlook systems and processes of the modern factory. This technological revolution in the factories supports the manufacturing industries to further invest in these emerging technologies to enhance the productivity and production cycle. Hence, the rapid expansion in the manufacturing industry is projected to drive the demand for industrial robotics.

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Another factor driving the market growth is the labor costs and a need for accuracy in production. The cost of manufacturing products increases in proportion to the price of basic raw materials, energy, and labor costs. For instance, Taiwan and China are witnessing a rapid boost in their labor costs, asserting market players to adopt industrial robots for certain functions.

The government of various countries globally are taking initiatives to encourage and promote the development and fast adoption of industrial robotics. For example, the Government of Singapore under its Industry Transformation Program announced various aspects to facilitate players and industries to innovate, automate and expand overseas and obtain financing. In 2015, they launched ‘National Robotics Programme’ to develop and deploy robotics in sectors such as healthcare, construction, logistics, and manufacturing. The initiatives show that the governments of various regions are constantly supporting the industrial robotics market.

On the flip side, the high capital required for the initial development of industrial robots is hindering the global industrial robotics market growth.

Based on type, the global industrial robotics market is segmented into articulated robots, cartesian robots, SCARA robots, collaborative robots and others. Of these, articulated robots led the market growth by accounting for US$ 7,069.9 million and a market share of 42.3% in 2017. It is expected to grow at a CAGR of 13.3% during the forecast period to reach US$ 18,976.4 million and a market share of 39.4% by 2025.

By function, the market is divided into soldering and welding, material handling, assembling and disassembling, painting and dispensing, milling, cutting and processing, and others. The soldering and welding segment of the global industrial robotics held a maximum share of 35.1% in 2017, with a market valued at US$ 5,912.6 million. Further, the segment is projected to dominate the market by accounting for US$ 17,023.7 million by 2025, growing at a CAGR of 14.3% throughout 2018–2025.

According to industry, the global industrial robotics market is categorized into automotive, medical and pharmaceutical, electrical and electronics, rubber and plastics, metal and machinery, food and agriculture and others. In 2017, the automotive segment led the market growth by capturing a share of 46.9%, a market valued at US$ 7,838.4 million. Furthermore, the market is assessed to be worth US$ 20,734.4 million by 2025, with an expected CAGR of 13.1% during the forecast period.

Our regional analysis states that Asia Pacific dominated the global industrial robotics market with a market value of US$ 11,051.6 million and a market share of 65.6% in 2017. It is expected to grow at a CAGR of 15.7% during the forecast period to reach US$ 34,995.8 million and is estimated to hold 72.7% CAGR by 2025.

Major players profiled in the global industrial robotics market report are ABB Ltd; Ag Eagle Aerial Systems; Airborne Robotics GmbH; Aquabotix Technology Corporation; Bastian Solutions, Inc; Clearpath Robotics, Inc; Comau S.p.A; DeepTrekker Inc; Denso Wave Inc; and Fetch Robotics Inc.

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