Industrial Robotics Market Competition Assessing Key Challenges and Opportunities | Taiwan News
The Industrial Robotics Market value was US$ $$ billion in 2022. The Industrial Robotics Market value is forecast to reach US$ $$ billion by 2032, growing at a compound annual growth rate (CAGR) $% during the forecast period from 2024-2032.
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Market Overview:
A moderately consolidated market with immense growth potential Global Industrial Robotics market is being driven byrising penetration of the IoT and investments in robotics across regions. For instance, the ?Made in China 2025? announcement aimed to broadly upgrade the Chinese industry by moving toward quality-focused and innovation-driven manufacturing.
The total addressable market for Industrial Robotics has been expanding globally. The developing trend of Industry 4.0 is driving the use of robotics and smart manufacturing in the industrial sector. Manufacturers are expanding their factories to cater to the growing demand for industrial robotics. For instance, in December 2022, ABB Ltd. inaugurated a new mega robotics factory for production and research in Shanghai, China. The company invested around USD 150 Mn in order to launch the 67,000-square-meter factory.
The Global Industrial Robotics Market is with major players in this market are Kuka robotics corporation, Abb ltd. (abb robotics), Oanasonic corporation, seiko epson corporation, Nachi-fujikoshi corporation (nachi robotic systems, inc.), Fanuc corporation
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Global Industrial Robotics Market Analysis
The global industrial robotics market size is expected to grow with a CAGR of $% from 2021 to 2030.
Major companies in the market have adopted partnership, business expansion, product launch, acquisition, and agreement as their key developmental strategies to offer better products and services to customers in the market.
The growing trend of Industry 4.0 is driving the use of robotics and smart manufacturing in the industrial sector. Manufacturers are expanding their factories to cater to the growing demand for industrial robotics.
Key Trends by Market Segment:
By Robot type: On the basis of type, in 2020, the articulated segment dominated the industrial robotics market, in terms of revenue, whereas the cylindrical segment is expected to witness growth at the highest CAGR during the forecast period.
By Region: The Asia Pacific dominated the industrial robotics industry in 2022 and contributed toward a share of over 65%. The region is expected to dominate throughout the forecast period as well. Asia Pacific region is home to a large number of industries and factories which use industrial robots for manufacturing processes. Besides, the growing inclination toward automation, artificial intelligence, and the evolution of other advanced technologies is providing significant growth potential for the regional market.
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Competitive Landscape:
To cater to the changing landscape of automotive manufacturing, many players in the industry are adopting industrial robots.
The other major market players include, Panasonic, Mitshubi amongst others
Mitshubi has been making progress in terms of market expansion & product innovativeness.
Recent Developments:
In July 2022, ABB and SKF signed a Memorandum of Understanding (MoU) to investigate the prospects for collaboration in manufacturing process automation. ABB and SKF collaborated to identify and evaluate solutions to improve manufacturing and processing capabilities, including food processing, and support clients’ increased production efficiency.
Cornell University’s new 6,000-pound industrial robot was introduced. It is claimed that 3D printing of large-scale buildings could alter the construction industry, making it more efficient and sustainable by eliminating waste from traditional material processing. Cornell is one of only a few colleges in the United States using such a system. The IRB 6650S Industrial Robot system arrived in February 2022, and the Bovay Lab was trained to handle the robotic system – which is effectively a long, swiveling arm – and run several medium-size test prints, including benches and planters, for the last several months.
Future Outlook:
The market will grow at a CAGR of $% during 2022-2027 due to increase in fuel cost & rising customer preference
Asia Pacific is expected to become one of the leading regional segments in the upcoming years.
The market is expected to reach over $$ Bn by 2030.
The industrial robotics market was hampered during the outbreak of COVID-19 pandemic, owing to restrictions on manufacturing activities, which also affected sales sector. In addition, the industrial robots could not be effectively sold through OEMs during the lockdown period.
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Reasons to Buy This Report:
(A) Strategic Guidance for Decision-Makers: This research serves as an indispensable resource for top-level executives, policymakers, industry professionals, sales managers, and market stakeholders, offering strategic guidance to make informed decisions and develop effective business strategies.
(B) Comprehensive Market Analysis: The report provides an in-depth analysis of the INDUSTRIAL ROBOTICS market, encompassing global, regional, and country-level market revenues with projections up to 2032. This comprehensive data empowers companies to assess market share, identify growth opportunities, and explore new markets, aiding in long-term planning and market positioning.
(C) Detailed Market Segmentation: The research includes a thorough segmentation of the INDUSTRIAL ROBOTICS market based on types, applications, technologies, and end-uses. This granular segmentation facilitates strategic planning and resource allocation, allowing businesses to tailor their approaches based on the expected growth rates of each segment.
(D) Investment Insights for Stakeholders: Investors benefit from a detailed analysis of the INDUSTRIAL ROBOTICS market, gaining insights into market scope, positioning, key drivers, challenges, growth opportunities, and potential threats. This information assists in making well-informed investment decisions and navigating market dynamics.
(E) Competitive Intelligence: The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge equips businesses with a better understanding of the competitive landscape, enabling them to strategize effectively and stay ahead of industry trends.
(F) Regional and Company-Level Predictions: The study aids in evaluating INDUSTRIAL ROBOTICS market predictions by region, key countries, and top companies. This provides valuable information for investment planning and decision-making, allowing stakeholders to align their strategies with regional and global market trends.
Key Questions Addressed in the Report:
Market Size and Growth:
What is the current market size in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Market Players and Dynamics:
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
Challenges and Opportunities:
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
Competitive Landscape:
What is the competitive landscape of the market?
What are the key strategies adopted by competitors?
Consumer Insights:
What are the consumer preferences, behaviors, and buying patterns within the market?
Market Segmentation:
What is the market segmentation, and how are different market segments performing?
Pricing Trends and Distribution Channels:
What are the pricing trends and strategies in the market?
What are the distribution channels, and how effective are they in reaching the target audience?
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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