Industrial Robotics - EU-27

EU-27

Revenue in the Industrial Robotics market is projected to reach US$3.58bn in 2024.
Automotive industry robotics dominates the market with a projected market volume of US$1.19bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.88%, resulting in a market volume of US$3.74bn by 2029.
In global comparison, most revenue will be generated in China (US$1,624,000.00k in 2024).

Key regions: France, Italy, United States, South Korea, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Industrial Robotics market in the EU-27 is facing a subdued decline in its growth rate due to various factors. These include the slow recovery of the automotive and chemical industries, as well as the shift towards automation in the electric/electronic, food, and metal industries. Additionally, the market is impacted by the increasing adoption of digital technologies and the growing awareness of the benefits of online health services among consumers. This has led to a gradual but steady growth in the overall market, with potential for further expansion in the future.

Customer preferences: The Industrial robotics Market within the Robotics Market is witnessing a growing demand for automation solutions in various industries, including manufacturing, healthcare, and logistics. This is driven by the need for increased efficiency, cost savings, and reduced human error. Additionally, there is a rising trend towards collaborative robots, which can work safely alongside humans, further enhancing productivity and safety in the workplace. The COVID-19 pandemic has also accelerated the adoption of robotics in industries, as it enables contactless operations and reduces the risk of virus transmission.

Trends in the market: In the EU-27, the Industrial robotics market is experiencing a surge in demand for collaborative robots, also known as cobots, due to their ability to work alongside humans and increase productivity. Additionally, there is a growing trend towards the integration of artificial intelligence and machine learning in industrial robotics, allowing for greater precision and flexibility in manufacturing processes. These developments are significant as they not only enhance efficiency and safety in the workplace but also pave the way for further automation and digitalization in the industry. As a result, industry stakeholders must stay abreast of these trends to remain competitive and capitalize on the opportunities they present.

Local special circumstances: In Germany, the Industrial robotics market is thriving due to the country's strong manufacturing industry and its focus on automation and efficiency. The government's support for Industry 4.0 initiatives has also contributed to the growth of the market. In France, the market is driven by the country's strict labor laws and high labor costs, making industrial robots a cost-effective solution for businesses. Additionally, the country's strong automotive and aerospace industries have also contributed to the demand for industrial robotics.

Underlying macroeconomic factors: The Industrial robotics market in EU-27 is greatly influenced by macroeconomic factors such as technological advancements, government policies, and investment in industrial infrastructure. Countries with favorable business environments and strong investment in automation technologies are experiencing higher growth in the market compared to regions with limited government support and outdated industrial infrastructure. Furthermore, the increasing demand for efficient and cost-effective manufacturing processes, coupled with the growing adoption of Industry 4.0 technologies, is driving the growth of the Industrial robotics market in EU-27.

Methodology

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.