Increasing demand for automation and efficiency in manufacturing and industrial processes is expected to propel the growth of the Industrial robots market

ROCKVILLE, MARYLAND, UNITED STATES, September 5, 2023/EINPresswire.com/ -- As per Fact.MR, a provider of market research and competitive intelligence, the global Industrial robot market is anticipated to rise at a CAGR of 12.1% to reach a value of US $56,171.4 million by the end of 2033.

Industrial robots are advanced machines used in factories and industries. They have mechanical arms and smart controls that allow them to do jobs like welding and assembly. These robots are better than other ways of doing work because they are super precise and never get tired, which means they can work faster and more accurately. They also save money over time because they don't need salaries or breaks. Robots can handle dangerous tasks, making workplaces safer for people.

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The growth of the industrial robot market is being fueled by several key factors. There's a strong demand for increased automation in manufacturing to enhance productivity and reduce labor costs. Additionally, the need for improved product quality, workplace safety, and the ability to handle hazardous tasks is boosting the adoption of industrial robots.

Key Takeaways:

• Europe market that has occupied a 23.4% share in 2023 and is expected to be at US $ 4.1 Bn in 2023.

• This is followed by the North America Industrial Robot Market which is expected to occupy the market share of 19.2% in 2023. Moreover, the market value is expected to be ~US $ 3.5 Bn in 2023.

• Market share of the top 3 countries is expected to be around 53%. And China is expected to occupy a share of 27.8% in 2023.

Key Companies Profiled in This Report

• Mitsubishi Electric Corporation
• ABB
• Fanuc
• Kuka AG
• Yaskawa
• Comau
• Epson
• Kawasaki Robotics
• Staubli International AG
• Universal Robots

The Industrial robot market is mainly driven by rising automation demand in manufacturing, high demand for precision, and technology advancements. - Says FACTMR Expert

Market Competition

The market is differentiated with many large and small market players. Every top player in the robotics industry is devising unique strategies to distinguish themselves in the competitive industrial robot market. Companies such as Mitsubishi Electric Corporation, ABB, Fanuc, Kuka AG, Yaskawa, Comau, Epson, Kawasaki Robots, Staubli International AG, Universal Robots, and other prominent brands are actively preparing to establish a strong presence in this market segment.

o In July 2022, ABB introduced a five-axis Delta robot that stands out as the fastest in its category for tasks such as lightweight product picking, packing, and repositioning.

o Moreover, in the same month, Fanuc unveiled its inaugural stainless steel delta robot specially designed for the handling of food products.

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Winning strategies

• Key players in the market should aim to expand their global presence by establishing manufacturing facilities, sales offices, and service centers across the world. This means becoming well-known and accessible in different regions through partnerships and local offices, while also building strong networks with partners, suppliers, and distributors. By doing so, they can reduce production costs, customize products to suit local needs, and provide better support to customers.

• Market giants specialize in creating robots that can be customized to fit the specific needs of different industries. They design these robots to tackle particular tasks, making them adaptable to various production processes. By collaborating closely with clients, these companies develop tailored automation solutions that help businesses become more efficient, reduce costs, maintain high product quality, and enhance safety.

Segmentation of Industrial Robot Industry Research Report

• By Product Type

o Articulated arm
o Collaborative robot
o SCARA
o Cartesian
o Cylindrical
o Spherical/Polar
o Parallel/Delta
o Others

• By Motion Range

o Below 2000 mm
o 2000-3000 mm
o Above 3000 mm

• By Payload Capacity

o Below 100 Kg
o 100-300 Kg
o 300-600 Kg
o Above 600 Kg

• By Application

o Packaging
o Palletizing
o Material handling
o Painting
o Welding
o Assembly
o Inspection
o Cutting
o Dispensing
o Others

• By End User

o Aerospace and Defense
o Automotive
o Chemicals & Materials
o Electrical & Electronics
o Food and Beverage
o Healthcare
o Mining & Oil & Gas
o Retail & e-Commerce
o Logistics & Warehousing
o Packaging
o Others

• By Region

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

S.N Jha
Fact.MR
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