Industrial Robotics - Worldwide | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$9.92bn in 2024.
Automotive industry robotics dominates the market with a projected market volume of US$2.92bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.81%, resulting in a market volume of US$11.39bn 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.

For more information on the data displayed, use the info button right next to the box.

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 the Robotics Market Worldwide is experiencing minimal decline in growth rate due to factors such as increasing adoption of automation in various industries, rising demand for efficiency and precision, and advancements in technology. The convenience offered by industrial robots in the Automotive, Chemical, Electric/Electronic, Food, Metal, and Other industries is also driving the market's growth.

Customer preferences: As the demand for automation in industrial processes continues to rise, there is a growing trend towards collaborative robots that work alongside humans. This is driven by the need for increased efficiency and safety in the workplace. Additionally, there is a growing focus on sustainable and eco-friendly manufacturing practices, leading to the adoption of more energy-efficient and environmentally-friendly robotic systems. This shift in consumer preferences is also influenced by the increasing emphasis on ethical and socially responsible business practices.

Trends in the market: In the Industrial robotics market, there is a growing trend towards collaborative robots or cobots, which are designed to work alongside human workers. This trend is driven by the need for increased efficiency and safety in the manufacturing sector. Additionally, there is a rise in the adoption of artificial intelligence and machine learning technologies in industrial robots, enabling them to perform more complex tasks and adapt to changing environments. These trends are significant as they increase productivity and reduce costs for companies. However, there are potential implications for industry stakeholders, as the use of advanced technologies may lead to job displacement and require upskilling of the workforce.

Local special circumstances: In China, the Industrial robotics market is experiencing rapid growth due to the country's strong manufacturing sector and government initiatives to promote automation. The market is also heavily influenced by cultural factors, with a strong emphasis on efficiency and precision driving demand for advanced robotics solutions. Additionally, China's large population and dense urban areas create unique challenges that require specialized robotics solutions, such as collaborative robots for human-robot interaction. These local factors have a significant impact on the dynamics of the Industrial robotics market in China, setting it apart from other global markets.

Underlying macroeconomic factors: The growth of the Industrial robotics market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and government fiscal policies. Countries with strong economic growth and supportive policies for industrial automation are experiencing higher market growth compared to regions with economic challenges and limited government investment. Additionally, the increasing demand for efficient and cost-effective manufacturing processes in industries such as automotive and electronics is 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.