Industrial Robotics Market Business Opportunities for Manufacturers 2032
WILMINGTON, DELAWARE, UNITED STATES, June 18, 2024 /EINPresswire.com/ — Market Outlook:
Industrial robots are sophisticated machines designed to operate in manufacturing and commercial settings, performing tasks that range from simple to complex. These robots, equipped with mechanical components, electronic controls, and software programming, can autonomously handle activities like welding, assembly, packaging, and material handling.
The primary driver of the industrial robotics market is the recent surge in global industrial production. Industrialization in developing countries such as India, China, and those in Africa is anticipated to propel market growth. Additionally, key industry players are pursuing business expansion strategies. For example, in February 2023, Mitsubishi Electric Corporation announced an investment of approximately $223 million to establish a new factory in India.
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Top Impacting Factor:
The industrial robotics market size was valued at $38 billion in 2020, and is estimated to reach $163 billion by 2032, growing at a CAGR of 12.6% from 2023 to 2032.
Moreover, industrial robots are expected to find applications in emerging markets. The electronics industry, in particular, is seeing rapid growth in the adoption of industrial robots. Another promising area is the healthcare industry, where nanorobotics—a subset of industrial robotics—is gaining traction. Nanorobots can precisely mix compounds as required, reducing lead time and enabling companies to meet market demand for pharmaceuticals.
The report on the industrial robotics market covers various types of robots, including articulated robots, cylindrical robots, SCARA robots, Cartesian robots, and others. In 2020, articulated robots represented 44% of the market, driven by their increasing use in emerging sectors like packaging and healthcare.
However, cylindrical robots and other types, such as customized and refurbished robots, are projected to grow significantly in the future, particularly due to rising demand in the industrial sectors of the Asia-Pacific region. Cylindrical and other types of robots are expected to achieve a compound annual growth rate (CAGR) of 13.8% and 13.7%, respectively.
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Key Segments:
By Type
Articulated
Cartesian
SCARA
Cylindrical
Others
By End user industry
Automotive
Electrical and Electronics
Chemical Rubber and Plastics
Manufacturing
Food and Beverages
Others
By Function
Soldering and Welding
Materials handling
Assembling and Disassembling
Painting and Dispensing
Milling, Cutting, and Processing
Others
Top Players:
Mitsubishi Electric Corporation, Denso Corporation, Seiko Epson Corporation., NACHI-FUJIKOSHI CORPORATION (NACHI ROBOTIC SYSTEMS, INC.), Daihen Corporation Co., Ltd., KUKA AG, Kawasaki Heavy Industries, Ltd., Panasonic Corporation, FANUC Corporation, ABB, Universal Robots A/S, Yaskawa Electric Corporation
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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