Industrial Robotics - Greece | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$10.08m in 2024.
Other industry robotics dominates the market with a projected market volume of US$4.22m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.73%, resulting in a market volume of US$14.63m 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 Greece is experiencing minimal growth, influenced by factors such as increasing adoption of automation technologies in various industries, rising demand for precision and efficiency, and advancements in robotics technology. The Automotive, Chemical, Electric/Electronic, Food, Metal, and Other industries are driving the market forward.

Customer preferences: The Industrial robotics Market within the Robotics Market is experiencing a growing demand for automation solutions as businesses seek to optimize production processes and reduce labor costs. With advancements in technology, there is an increasing trend towards collaborative robots that can work alongside human workers, providing a safer and more efficient working environment. Additionally, there is a heightened focus on customization and flexibility in industrial robotics, catering to the diverse needs of different industries and applications.

Trends in the market: In Greece, the Industrial robotics market is experiencing a surge in demand for collaborative robots, also known as cobots. These robots are designed to work alongside human workers, enhancing productivity and efficiency in manufacturing processes. Additionally, there is a growing trend towards the integration of artificial intelligence (AI) in industrial robotics, allowing for more advanced and autonomous operations. This trend is expected to continue, with the market for AI-enabled industrial robots projected to reach $12.3 billion by 2026. These developments have significant implications for industry stakeholders, as they offer increased flexibility, cost savings, and improved safety in the manufacturing sector. However, there may also be concerns about the potential displacement of human workers and the need for upskilling to adapt to the changing landscape. Overall, the trajectory of these trends in Greece's Industrial robotics market is towards increased efficiency and competitiveness in the manufacturing industry.

Local special circumstances: In Greece, the Industrial robotics market is influenced by its strong manufacturing sector, which is a key driver for the adoption of robotics in industries such as automotive, electronics, and pharmaceuticals. The country's location as a gateway between Europe and the Middle East also plays a significant role in its market dynamics, as it allows for easy access to both markets. Additionally, Greece's favorable regulations for foreign investment and government incentives for automation have further propelled the growth of the Industrial robotics market.

Underlying macroeconomic factors: The growth of the Industrial robotics market is also influenced by macroeconomic factors such as technological advancements, government support, and investment in manufacturing infrastructure. Countries with favorable regulatory environments and strong investment in industrial robotics are experiencing faster market growth compared to regions with regulatory challenges and limited manufacturing funding. Additionally, the increasing demand for automation and the need for cost and time efficiency in production processes are driving the adoption of industrial robotics worldwide.

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.