According to a new market report published by Credence Research, Inc., “Global Industrial Robotics Market (By Product Type (Articulated Robots, Linear Robots, Cylindrical Robots, Parallel Robots, SCARA Robots and Others), By Functionality (Soldering and Welding, Material Handling, Assembling & Disassembling, Painting & Dispensing, Milling, Cutting & Processing), By End-use Vertical (Automotive, Electrical & Electronics, Plastics, Rubber and Chemicals, Metals & Machinery, Pharmaceuticals, Food & Beverages, Precision Engineering & Optics and Others)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global industrial market is expected to witness a growth of 8.3% CAGR during the forecast period from 2018 to 2026.
The global industrial robotics market was estimated at US$ 32.9 billion in 2017, rising at 8.3 per cent CAGR during the forecast period from 2018 to 2026. The development of industrial robots continues at a phenomenal rate throughout the globe. Core developments, such as human-robot interaction, simplification and digitalisation, are expected to shape the future and move the rapid development of industrial robotics forward. Technology advances have allowed companies to use robots to streamline operations, increase efficiency and reduce errors. According to the International Federation of Robotics (IFR), more than 1.4 billion new industrial robots will be deployed in a variety of end-use verticals around the world by 2019.
The global market for industrial robotics, based on product type, was driven by articulated robots in 2017. Articulated robots are most frequently used in factories around the world. These are used for a variety of applications including material handling, material processing, welding and dispensing. Thanks to the capabilities of performing a multitude of tasks in manufacturing operations, there is growing demand for articulated robots around the globe. On the basis of vertical end-use, the automotive industry led the market in 2017 and is likely to remain dominant throughout the forecast period from 2018 to 2026.
Industrial robots play a vital role in improving the performance, quality and reliability of automotive plants worldwide. In addition, progress in automotive robotics has been made on the basis of the performance, protection and cost-effectiveness it provides. Moreover, based on geography, Asia Pacific has the strongest market due to the high presence of the electronics and automotive industries. Due to the booming automotive industry and rapid industrialisation, the region is projected to see significant growth in the near future.
Report Scope by Segments:
Product Type Segment (2016-2026; US$ Bn)
- Articulated Robots
- Linear Robots
- Cylindrical Robots
- Parallel Robots
- SCARA Robots
- Others (Delta Robots, Polar Robots, etc.)
Functionality Segment (2016-2026; US$ Bn)
- Soldering and Welding
- Material Handling
- Assembling & Disassembling
- Painting & Dispensing
- Milling, Cutting & Processing
End-use Vertical Segment (2016-2026; US$ Bn)
- Electrical & Electronics
- Plastics, Rubber and Chemicals
- Metals & Machinery
- Food & Beverages
- Precision Engineering & Optics
- Others (Oil & Gas, Construction, etc.)
Major players in the industrial robotics market include ABB Ltd., TOSHIBA MACHINE CO., LTD., YRG Inc., FANUC Corporation, Yaskawa Electric Corporation, Omron Adept Technologies, Inc., Panasonic Corporation, DENSO Robotics, Seiko, Epson Corporation, KUKA AG, Mitsubishi Electric Corporation, Staubli International AG, NACHI-FUJIKOSHI CORP., Kawasaki Heavy Industries, Ltd., Comau S.p.A., DAIHEN Corporation, Universal Robots, and CMA Robotics among others.