An Army of New Robots Swarm Supplier News
As well as revealing robot introductions in the slideshow, we’ve also found breaking data on the robot market from Interact Analysis.
Over 500,000 Industrial Robots Shipped in 2023
According to the Industrial Robots – 2024 report from Interact Analysis, overall global industrial robot shipment volumes exceeded 500,000 units in 2023. This was a similar level to that seen in 2022 but the average price of industrial robots decreased last year. After a record high in 2021, 2023 reached a low point in terms of revenues and shipments but the long-term forecast remains positive. The global industrial robot market is expected to grow on average, by 3.7% per year between 2024 and 2028.
Highlights of the research include:
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Industrial robot market long term growth forecast remains positive, with 3.7% average annual growth expected between 2024 and 2028.
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Sales of industrial robots to the automotive segment faced significant pressure in 2023 resulting in sluggish growth, particularly in the Americas.
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robot market growth trajectory in line with global manufacturing output figures.
Graph is courtesy of Interact Analysis.
The Market by Industry and Region
Taking a look at the market by industry and region, sales of industrial robots to the automotive industry in the Americas faced significant pressure in 2023, resulting in sluggish growth for this segment of the market – one of the largest downstream industries for industrial robots in the region. Mexico in particular has high dependence on the automotive industry, therefore creating a greater impact on industrial robot sales in the region. On the whole, growth of industrial robots in the Americas plummeted by 17.3% in 2023; compared with APAC, which saw a slight increase in growth, and EMEA, which remained stable.
The American markets accounted for around 17% of global industrial robot revenues compared to 62% for APAC and 22% for EMEA. The industrial robot market enjoyed strong growth in the Americas during the immediate post-COVID period in both the automotive and non-automotive industries, where manufacturers were continually looking for ways to improve their production processes and reduce manufacturing costs by adopting the technology.
Top 3 Applications Are Material Handling, Welding, and Assembly
The top three most common applications – material handling, welding, and assembly – accounted for over 70% of industrial robot market revenues in 2023, with material handling accounting for one third on its own. This common application is particularly dominant in the Americas and Europe. The American market has the highest market concentration globally, where the top 5 suppliers shared nearly 80% of revenues and over 2/3 of unit shipments.
