Industrial Robotics - Thailand | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$60.46m in 2024.
Electric/electronic industry robotics dominates the market with a projected market volume of US$18.36m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.78%, resulting in a market volume of US$62.85m 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 Robotics Market in Thailand is experiencing growth, driven by factors like increasing adoption of automation, rising demand in various industries, and the convenience of advanced technologies. However, the market is facing minimal decline due to factors such as slow economic growth and lack of skilled labor.

Customer preferences: The rise of automation and Industry 4.0 has led to a growing demand for industrial robotics in Thailand. With a focus on efficiency and cost-effectiveness, businesses are increasingly turning to robotics solutions for manufacturing and production. This trend is also driven by the country's aging population, which has resulted in a shortage of manual labor. Additionally, the government's investment in advanced technology and its push for digital transformation is further fueling the adoption of industrial robotics in Thailand.

Trends in the market: In Thailand, the Industrial robotics market is witnessing a shift towards collaborative robots, also known as cobots, which are designed to work alongside humans in a safe and efficient manner. This trend is driven by the increasing demand for flexible automation solutions in industries such as automotive, electronics, and food processing. The trajectory of this trend is expected to continue, with the use of cobots projected to increase in various sectors. This has significant implications for industry stakeholders, as cobots offer cost-effective and versatile automation solutions that can improve productivity and safety in the workplace. Additionally, the rise of cobots also presents opportunities for small and medium-sized enterprises to adopt automation technology, which was previously only accessible to larger companies.

Local special circumstances: In Thailand, the Industrial robotics market is heavily influenced by the country's strong manufacturing sector and government support for automation. The country's central location in Southeast Asia also makes it a strategic hub for regional operations, attracting foreign investments. Additionally, Thailand's unique cultural approach to work, emphasizing collaboration and harmony, has resulted in a high adoption rate of collaborative robots in industries such as electronics and automotive. Furthermore, the country's strict regulations on foreign labor have encouraged the use of industrial robots to fill in labor shortages and increase productivity.

Underlying macroeconomic factors: The Industrial robotics market in Thailand is influenced by various macroeconomic factors, including the country's economic growth, government policies, and global economic trends. Thailand's strong economic growth and stable political environment have attracted significant investments in the industrial sector, leading to the adoption of advanced technologies like robotics. Additionally, the government's initiatives to promote industrial automation and the country's strategic location as a manufacturing hub in Southeast Asia have further boosted the demand for industrial robotics. Moreover, the increasing demand for high-quality products and the need to reduce labor costs are also driving the growth of the industrial robotics market in Thailand.

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.