Industrial Robotics - Kuwait | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$1.44m in 2024.
Other industry robotics dominates the market with a projected market volume of US$1.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.75%, resulting in a market volume of US$2.29m 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 Kuwait has seen limited growth due to factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience offered by online services. This is evident in the sub-markets of Automotive, Chemical, Electric/Electronic, Food, Metal, and Other industries. The market's negligible growth rate can be attributed to a combination of economic factors, political instability, and a small market size.

Customer preferences: The growing demand for automation and efficiency in the industrial sector has led to a rise in the adoption of industrial robotics in Kuwait. With a focus on maximizing productivity and reducing costs, companies are increasingly turning to robotic solutions for tasks such as material handling, assembly, and welding. This trend is also driven by a desire for increased safety and precision in manufacturing processes. Additionally, the cultural emphasis on technological advancements and the availability of a skilled workforce in Kuwait have contributed to the growth of the industrial robotics market in the country.

Trends in the market: In Kuwait, the Industrial robotics market is experiencing a surge in demand due to the government's initiatives to diversify the economy and reduce reliance on oil. This trend is expected to continue as the country invests in infrastructure and technology to support the growth of industries such as manufacturing and oil and gas. With the adoption of Industrial Internet of Things (IIoT) and artificial intelligence (AI), businesses in Kuwait are leveraging industrial robotics to improve efficiency, productivity, and safety. This trend is significant as it not only boosts economic growth but also creates opportunities for industry stakeholders, including robotics manufacturers, software developers, and system integrators. However, it may also lead to potential job displacement and the need for upskilling the workforce to adapt to the changing landscape of the industrial sector in Kuwait.

Local special circumstances: In Kuwait, the Industrial robotics market is driven by the country's growing focus on automation and increasing investments in the manufacturing sector. The government's initiatives to diversify the economy and reduce dependence on oil have also led to a rise in demand for robotics in industries such as construction and oil and gas. Additionally, the country's strategic location and favorable business environment have attracted global players to set up their operations in Kuwait, further boosting the growth of the Industrial robotics market.

Underlying macroeconomic factors: The Industrial robotics market in Kuwait is heavily impacted by macroeconomic factors such as technological advancements, government initiatives, and investment in the country's manufacturing sector. Kuwait's strong economic growth, supported by stable oil prices, has led to a substantial increase in demand for industrial automation solutions. Additionally, the country's favorable business environment and significant investments in infrastructure development have created a conducive environment for the growth of the industrial robotics market. Moreover, the increasing focus on enhancing productivity and efficiency in the manufacturing sector is further driving the demand for industrial robotics in Kuwait.

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.