Industrial Robotics - APAC | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$4.14bn in 2024.
Electric/electronic industry robotics dominates the market with a projected market volume of US$1.67bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.79%, resulting in a market volume of US$4.52bn by 2029.
In global comparison, most revenue will be generated China (US$1.62bn in 2024).

Definition:

The Industrial Robotics market covers use cases that focus on the design, manufacturing, and deployment of robotic systems for industrial applications. The market encompasses the use of robots and automation technologies in manufacturing processes, assembly lines, and other industrial settings. This is to improve productivity, efficiency, and precision.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

The top five industries that use robotics are the automotive, chemical, metal, electronic, and food industries; however, other industries are also implementing various robotics use cases, but not on the same scale as these top five.

Structure:

The Industrial Robotics market is further split into Automotive Industry Robotics, Chemical Industry Robotics, Electric/Electronic Industry Robotics, Food Industry Robotics, Metal Industry Robotics, and Other Industry Robotics.

Additional information:

The market comprises revenues, volume, and the average price per newly installed robot. It also includes the share of collaborative robots, as well as a list of the key players in the market and their consolidated revenues. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Software revenues are not included, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them.

Key players in the market include ABB, Epson Robotics, Midea Group, and Yaskawa Electric Corporation.

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Automotive Industry Robotics
Chemical Industry Robotics
Electric/Electronic Industry Robotics
Food Industry Robotics
Metal Industry Robotics
Other Industry Robotics

robots used in non-industrial environments

The industrial robotics market in APAC is currently experiencing a negligible decline in growth rate, influenced by factors such as the increasing adoption of automation in various industries, growing demand for efficient and cost-effective production, and advancements in technology. The convenience and precision offered by robotics in industries such as automotive, chemical, electric/electronic, food, metal, and others are also driving market growth. However, challenges such as high initial investment costs and concerns over job displacement are impacting the market's growth rate.

Customer preferences: As the demand for automation and efficiency rises in the industrial sector, there is a growing preference for collaborative robots or "cobots" that can work alongside humans. This trend is driven by a cultural shift towards more human-centric workplaces and a desire for safer and more flexible solutions. Additionally, the aging workforce in APAC countries has led to a rise in demand for robots that can assist with physically demanding tasks, highlighting the importance of ergonomic design in industrial robotics.

Trends in the market: In APAC, the Industrial robotics market is experiencing a surge in demand for collaborative robots (cobots) due to their flexibility, safety features, and ease of use. This trend is driven by the increasing focus on automation and the need for cost-effective solutions in the manufacturing sector. Moreover, there is a growing trend of integrating AI and machine learning technologies into industrial robots to enhance their capabilities and efficiency. These developments are expected to have a significant impact on industry stakeholders, including manufacturers, suppliers, and end-users, as they strive to stay competitive in the rapidly evolving market landscape.

Local special circumstances: In China, the Industrial robotics market is experiencing rapid growth due to the country's heavy investment in automation and advanced manufacturing technologies. The government's "Made in China 2025" initiative aims to upgrade the country's manufacturing sector and reduce dependence on foreign technologies. Additionally, the Chinese culture values efficiency and productivity, making industrial robots an attractive solution for businesses. However, strict regulations on foreign ownership and technology transfer may hinder the market's growth.

Underlying macroeconomic factors: The growth of the Industrial robotics market in APAC is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in manufacturing infrastructure. Countries with favorable business environments and strong investment in automation technologies are experiencing rapid market growth compared to regions with regulatory challenges and limited manufacturing funding. Additionally, the increasing demand for efficient and cost-effective production processes, coupled with the rising labor costs and aging workforce in the region, are driving the adoption of industrial robotics to improve productivity and reduce operational costs.

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.