Industrial Robotics - Hungary | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$38.38m in 2024.
Automotive industry robotics dominates the market with a projected market volume of US$15.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.31%, resulting in a market volume of US$32.43m 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 Hungary is facing minimal decline in growth rate, influenced by factors such as increasing adoption of automation in various industries, growing awareness of efficiency and quality benefits, and the convenience offered by advanced robotic solutions. This trend is expected to continue as the country continues to invest in modernizing its manufacturing sector and adapting to the changing global market demands.

Customer preferences: With the rise of automation and Industry 4.0, there is a growing demand for advanced industrial robotics in Hungary. This is driven by the need for increased productivity and efficiency in manufacturing processes. Additionally, the aging workforce in the country has created a need for robotic solutions that can assist with physically demanding tasks. Furthermore, there is a trend towards collaborative robots, or cobots, which can work alongside humans and provide a safer and more flexible production environment. This shift towards advanced robotics is also influenced by the country's strong engineering and technology background, making it a prime market for industrial robotics.

Trends in the market: In Hungary, the Industrial robotics market is experiencing a surge in the adoption of collaborative robots, also known as cobots. These robots are designed to work alongside humans, improving efficiency and safety in manufacturing processes. This trend is expected to continue, driven by the increasing demand for flexible and cost-effective automation solutions. As a result, industry stakeholders can expect to see a rise in the integration of cobots in various industries, such as automotive and electronics, as well as the development of advanced technologies to enhance their capabilities. This shift towards collaborative robotics has the potential to transform the manufacturing landscape in Hungary, making it more competitive and innovative in the global market.

Local special circumstances: In Hungary, the Industrial robotics market is experiencing significant growth due to the country's strong manufacturing sector and government incentives for automation. The market is also influenced by the country's close proximity to other European countries, creating opportunities for cross-border partnerships and exports. Additionally, Hungary's well-developed infrastructure and skilled workforce make it an attractive location for industrial robotics companies. However, the market is also impacted by strict regulations and cultural preferences for traditional manufacturing methods, hindering the adoption of advanced automation solutions.

Underlying macroeconomic factors: The Industrial robotics market in Hungary is significantly impacted by macroeconomic factors such as technological advancements, government policies, and investment in manufacturing infrastructure. Nations with favorable regulatory environments and increased investment in industrial automation technologies are witnessing faster market growth compared to regions with regulatory challenges and limited funding for manufacturing. Moreover, the rising demand for advanced automation solutions to improve productivity and reduce labor costs further drives the growth of the industrial robotics market in Hungary.

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.