Industrial Robotics - Ghana | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$1.62m in 2024.
Other industry robotics dominates the market with a projected market volume of US$1.37m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 26.57%, resulting in a market volume of US$5.27m 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 Ghana has witnessed remarkable growth, driven by factors such as increasing adoption of automation technologies, rising demand for precision and efficiency in various industries, and the convenience offered by robotic solutions. This extraordinary growth is also influenced by the sub-markets within the Robotics Market in Ghana, each with their unique needs and requirements.

Customer preferences: The rise of automation and Industry 4.0 has led to a growing demand for advanced industrial robotics in Ghana. With the country's focus on manufacturing and industrial development, there is a strong push towards incorporating robotic technology in production processes. Additionally, the increasing emphasis on precision and efficiency is driving the adoption of industrial robots in various sectors, such as automotive, electronics, and pharmaceuticals. This trend is expected to continue as Ghana aims to strengthen its position as a manufacturing hub in Africa.

Trends in the market: In Ghana, there is a growing interest in the use of industrial robotics in manufacturing and production processes. This trend is driven by the need for increased efficiency, cost savings, and improved quality control in the industry. Additionally, the government has launched initiatives to promote the adoption of robotics technology in the country. This trend is expected to continue as more companies recognize the benefits of industrial robotics and invest in its implementation. This could have significant implications for industry stakeholders, such as increased competition and the need for upskilling and reskilling of the workforce to adapt to this new technology. Furthermore, the adoption of industrial robotics could also lead to a shift in employment patterns, with a potential decrease in manual labor jobs and an increase in demand for highly skilled workers in the robotics field.

Local special circumstances: In Ghana, the Industrial robotics market is heavily influenced by the country's growing manufacturing sector and its efforts towards industrialization. The government's favorable policies and incentives for foreign investment have attracted major players in the robotics industry to establish a presence in the country. Additionally, Ghana's unique geographical location and proximity to other West African countries make it a strategic hub for regional operations, further driving the demand for industrial robotics. Cultural factors such as a strong work ethic and the adoption of technology also play a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Industrial robotics Market within the Robotics Market in Ghana is heavily influenced by macroeconomic factors such as the country's overall economic health, government policies, and global economic trends. Ghana's stable economic growth and favorable investment environment have attracted several foreign companies to establish their operations in the country, leading to an increase in demand for industrial robots. Additionally, the government's focus on promoting industrialization and increasing productivity through automation has further fueled the growth of the market. Furthermore, the increasing adoption of Industry 4.0 technologies and the country's strategic location in West Africa have also contributed to the growth of the Industrial robotics Market in Ghana.

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.