The industrial robotics market is projected to grow from USD 15.7 billion in 2022 to USD 30.8 billion by 2027; it is expected to grow at a CAGR of 14.3% from 2022 to 2027. Rising demand for collaborative robots across industries, anticipated shortage of skilled labor in manufacturing industries, and growing adoption of Industry 4.0 are factors expected to boost the growth of the industrial robotics market in the next five years. However, high cost of deployment for SMEs and safety concerns related to industrial robotics systems are projected to be the key challenges and restraining factors for the industry players.
Key players operating in the market include FANUC Corporation (FANUC (Japan)), ABB (Switzerland), Yaskawa Electric (Yaskawa (Japan)), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), DENSO (Japan), Nachi-Fujikoshi (Japan), Seiko Epson (Japan), and Dürr (Germany), among others. Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market mainly include new product launches and deals, such as acquisitions and partnerships.
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ABB is a pioneer in robotics, machine automation and digital services, providing innovative solutions for a diverse range of industries, from automotive to electronics to logistics. The company is a leading supplier of industrial robots and modular manufacturing systems and services. Its operations are organized through four business divisions—Electrification, Motion, Industrial Automation, and Robotics & Discrete Automation. All industrial robots offered by the company are handled by its Robotics & Discrete Automation business segment. More than 300,000 ABB robots are estimated to be installed worldwide. ABB’s robotics solutions are used in industries such as automotive, metal fabrication, foundry, plastics, food & beverages, chemicals, pharmaceuticals, consumer electronics, solar, and wood. They are suited to welding, material handling, painting, picking, packing, and palletizing applications. The company’s product portfolio consists of traditional as well as collaborative industrial robots of either articulated, parallel, or SCARA design. In addition to standalone robotic arms, the company also provides a variety of special-purpose robots, such as painting robots and door-opening robots. The payload capacity of robots offered ranges from 0.5 kg to 800 kg. AbilityTM is ABB’s network model for connecting multiple robots and robotic equipment to enable monitoring and control of the automation process.
Yaskawa operates through four primary business segments: motion control, robotics, system engineering, and other. The robotics segment supplies industrial robots for various manufacturing applications (such as material handling, welding, and painting) and is currently its second-largest business segment. The company introduced its first industrial robots in 1977 and offers them under the MOTOMAN brand. Yaskawa offers both traditional and collaborative industrial robots, including articulated and parallel robots. The payload capacity of the robots ranges from 0.5 kg to 900 kg. The company has also developed the i3-Mechatronics digital data solution for functions such as data visualization, automatic robot task allocation and motion path generation, AI picking function, and centralized control of peripheral devices. Yaskawa’s industrial robots contribute to improving productivity and quality through the stable operation of customers’ production sites.
Industrial Robotics Market by Type (Traditional, Collaborative Robots), Component, Payload, Application (Handling, Processing), Industry (Automotive, Food & Beverages) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027
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