Industrial Robotics - North America

Revenue in the Industrial Robotics market is projected to reach US$1.29bn in 2024.
Automotive industry robotics dominates the market with a projected market volume of US$440.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.16%, resulting in a market volume of US$2.00bn 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 North America has been experiencing stagnant growth, influenced by factors such as slow adoption of digital technologies in the Automotive and Chemical industries, lack of health awareness among consumers in the Electric/Electronic and Food industries, and limited use of online services in the Metal and Other industries. This has resulted in a negligible growth rate for the overall market.

Customer preferences: According to recent market research, there has been a growing demand for collaborative robots (cobots) in the industrial robotics market in North America. This can be attributed to the increasing focus on workplace safety and the need for more flexible and adaptable automation solutions. Additionally, advancements in artificial intelligence and machine learning have led to the development of more sophisticated cobots that can work alongside human workers, further driving their adoption in various industries.

Trends in the market: In North America, the Industrial robotics Market within the Robotics Market is experiencing a surge in the adoption of collaborative robots, also known as cobots. These robots are designed to work alongside humans, enhancing productivity and reducing the risk of workplace accidents. This trend is significant as it allows smaller businesses to access automation technology and can lead to increased efficiency and cost savings. However, there are potential implications for job displacement and the need for upskilling workers to operate and maintain these robots. Additionally, there is a rise in the use of artificial intelligence and machine learning in industrial robots, allowing for more advanced and autonomous decision-making capabilities. This trend has the potential to revolutionize the manufacturing industry and increase the competitiveness of businesses.

Local special circumstances: In North America, the Industrial robotics market is heavily influenced by the advanced manufacturing industry. With a high demand for automation in industries such as automotive, aerospace, and electronics, the region has a strong presence of established robotics companies. Additionally, the region's strict safety regulations and high labor costs have further propelled the adoption of industrial robots. Moreover, the growing trend of reshoring manufacturing operations has also contributed to the market growth in North America.

Underlying macroeconomic factors: The Industrial robotics market in North America is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in manufacturing infrastructure. Countries with favorable business environments and a strong focus on automation are experiencing faster market growth compared to regions with limited technological resources and regulatory barriers. Additionally, the rising demand for efficient and cost-effective production processes, coupled with the increasing adoption of Industry 4.0 technologies, is driving the growth of the Industrial robotics market in North America.

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.