News-Global Industrial Robot Market Overview 2021

The Global Industrial Robot Market Size was estimated at USD 39640.00 million in 2020 and is projected to reach USD 102749.35 million by 2027, exhibiting a CAGR of 12.71% during the forecast period– BSResearch.com

An industrial robot is a robot system used for manufacturing. Industrial robots are automated, programmable and capable of movement on three or more axes.Typical applications of robots include welding, painting, assembly, disassembly, pick and place for printed circuit boards, packaging and labeling, palletizing, product inspection, and testing; all accomplished with high endurance, speed, and precision. They can assist in material handling.In the year 2020, an estimated 1.64 million industrial robots were in operation worldwide according to International Federation of Robotics (IFR).

The global market for industrial robots is projected to grow steadily between 2019 and 2027. In 2020, the size of the market was estimated at almost 40 billion U.S. dollars, with some 2.7 million units of industrial robots in operation worldwide. In 2027, the market size is forecast to surpass 100 billion U.S. dollars.

Figure Global Industrial Robot Market Size

Source: BSR, 2021

Market for traditional industrial robots projected to have larger share during the forecast period

The traditional industrial robots segment is expected to hold a larger share of the market throughout the forecast period, both in terms of value and volume. Traditional industrial robots have been around for a much longer time than collaborative robots, which have only gained traction in the last decade. Industries such as automotive, electronics, and metal account for the major use of these robots as their production process imperatively needs to be heavily automated. They are well suited for high-volume production and have been fundamental in scaling up productivity in major industries such as automotive. Various types of traditional industrial robots are designed for different applications specific to the industry. Articulated robots are widely used for handling applications such as pick-and-place, part transfer, palletizing, and sorting in heavy-duty industries such as automotive and metals and machinery. SCARA robots have a better operational speed and hence are preferred more in manufacturing processes in electrical and electronics industry worldwide. The parallel robots are more suitable for high-precision assembly applications. Owing to their versatility in adaption, varying types with a considerable variation in the payload capacity, the traditional industrial robots are expected to maintain the largest market share during the forecast period.

Handling application to dominate industrial robotics market in terms of size in 2021

Handling application is expected to hold the largest share of the industrial robotics market in 2021. The handling application includes various sub-types such as material handling, machine tending as well as bin-picking which are currently booming. The handling application has industry-wide usage in varied industries ranging from the automotive, chemicals, electrical and electronics to food and beverages because of which is expected to register a fairly large amount of the market share in 2021.

Automotive industry to maintain the largest size of industrial robotics market during the forecast period

The automotive industry is one of the largest users of industrial robots. In automotive manufacturing, spot welding and painting robots are used extensively. Articulated robots are generally used for most of the tasks; however, parallel robots are used for assembling smaller components, such as pumps and motors. Welding has been one of the first and most popular applications of industrial robots in the automotive industry. Spray painting automation is another popular application in assembly lines, mainly to protect workers from toxic fumes. Robots provide consistency in paint application and minimize wastages. Machine tending and material removal are a few of the other applications where robots are used. As majority of the processes involved in automotive manufacturing and assembly are automated, the automotive industry has to employ industrial robots on a large scale, which makes it the largest demand generator for the adoption of industrial robots.

Global Industrial Robot Market: Competitive Landscape

The industrial robotics market is highly fragmented. Industry 4.0, along with digitalization initiatives across regions, provides lucrative opportunities in the industrial robots market. Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and collaboration of large companies with startups are expected, which are focused towards innovation.

Key players in the industrial robotics include:

ABB Ltd

FANUC Corporation

Kuka AG

Yaskawa

Comau

Kawasaki Heavy Industries Ltd.

Aurotek Corporation

Mitsubishi Electric Corporation

Yamaha Motor Co. Ltd,

Universal Robots A/S

Staubli International AG

Seiko Epson Corporation

SCHUNK GmbH & Co. KG

Rockwell Automation Inc.

Rethink Robotics GmbH

Omron Adept Technology Inc.

Nachi-Fujikoshi Corp

Apex Automation and Robotics

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