Industrial Robotics - Canada | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$179.20m in 2024.
Automotive industry robotics dominates the market with a projected market volume of US$63.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.69%, resulting in a market volume of US$225.30m 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 Robotics Market in Canada is facing a subdued decline in growth rate, partly due to the impact of the COVID-19 pandemic. Factors such as increasing adoption of automation in various industries, including automotive, chemical, and food, are driving the market. Additionally, the need for efficient and precise production in the electric and electronic and metal industries is also contributing to the growth of the industrial robotics market in Canada. However, challenges such as high initial investment costs and concerns about job displacement are hindering the growth potential of the market.

Customer preferences: In Canada, the Industrial robotics Market within the Robotics Market is experiencing a growing demand for collaborative robots that can work alongside humans in manufacturing and production environments. This trend is driven by the need for increased efficiency and flexibility, as well as the desire to address labor shortages and safety concerns. As a result, there has been a rise in the development of advanced human-robot collaboration technologies, such as sensor-based automation and artificial intelligence, to enable seamless interaction between humans and robots.

Trends in the market: In Canada, the Industrial robotics market is experiencing a surge in collaborative robots, also known as cobots, due to their ability to work alongside humans and increase efficiency in manufacturing processes. Additionally, there is a growing trend towards the integration of artificial intelligence and machine learning in industrial robotics, enabling more advanced and autonomous operations. These trends have significant implications for industry stakeholders, including increased productivity, cost savings, and enhanced safety for workers. As the demand for automation and smart manufacturing continues to rise, the Industrial robotics market is expected to see steady growth in the coming years.

Local special circumstances: In Canada, the Industrial robotics market is heavily influenced by the country's strong manufacturing sector and its emphasis on automation. The government's support for research and development in the field has also contributed to the growth of the market. However, Canada's strict regulations and high labor costs have posed challenges for companies looking to adopt industrial robotics, leading to a slower adoption rate compared to other markets. Additionally, the country's vast geography and harsh weather conditions can also impact the use and maintenance of industrial robots, making it important for companies to consider these unique factors when entering the Canadian market.

Underlying macroeconomic factors: The growth of the Industrial robotics market in Canada is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in manufacturing infrastructure. The country's strong economic health and favorable regulatory environment have created a conducive market for industrial robotics, with increasing adoption in various industries such as automotive, electronics, and healthcare. Moreover, the ongoing trend of automation and the need for increased productivity and efficiency are further driving the demand for industrial robotics in Canada.

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.