The global industrial robotics market size was US$ 42345.3 million in 2021. The global industrial robotics market size is forecast to reach US$ 116,848.7 million by 2030, growing at a compound annual growth rate (CAGR) of 11.8% during the forecast period from 2022 to 2030.

Industry robots are a type of mechanical machine that operates automatically for the purpose of carrying out tasks related to production. It is possible to reprogram these robots many times depending on the usage and industrial requirements. Automation applications of industrial robots result in increased productivity by reducing costs and producing high-quality products. The typical industrial robot consists of a drive, an end-effector, a robotic manipulator, sensors, and controllers. A controller is a brain that gives instructions to the robot. A robot's sensors consist of microphones and cameras that keep the robot aware of the industrial environment. Generally, a robotic manipulator is the arm of a robot that assists it in moving and positioning, while its end effectors help it interact with its workpieces. 

Factors Influencing Market Growth

• The robots are targeting both small and medium-sized enterprises (SMEs) and large organizations. The versatility of these robots also makes them suitable for both new and existing applications and hence are in wide use. These factors have contributed significantly to the growth of the industrial robotics market.
• Electronics companies will be able to innovate further with the increase in automation, as they will be able to build prototypes with a smaller capital and time investment. Thus, this factor is forecast to create lucrative growth opportunities for the global market. 
• The high capital expenditure required not only for the purchase of the robot but also for its integration, programming, and maintenance could slow down the overall market growth.

Impact Analysis of COVID-19

During the outbreak of COVID-19, construction, manufacturing, hotel, and tourism industries were severely affected. Manufacturers halted or restricted their operations. A global recession affected construction, transportation, and supply chain activities. In turn, this caused a decline in the manufacturing of industrial robots and their demand in the market, therefore restraining growth in the industrial robotics market.

Regional Insights 

Asia-Pacific is forecast to hold a dominant position in 2021 in the global industrial robotics market. A rise in demand for automation and the reduction of duties on refurbished goods are fueling the market's growth in Asia-Pacific. Moreover, cylindrical robots and other types of robots, such as customized and refurbished robots, are likely to grow at a significant rate in the future due to the continued growth of industrial sectors in Asia-Pacific.

Leading Competitors

The leading prominent companies profiled in the global industrial robotics market are:

• ABB Limited
• DAIHEN Corporation
• Denso Corporation
• Epson America Incorporated
• Fanuc Corporation
• Kawasaki Heavy Industries Limited
• Kobe Steel, Limited
• Kuka AG
• Mitsubishi Electric Corporation
• Yaskawa Electric Corporation
• Other Prominent Players

Scope of the Report

The global industrial robotics market segmentation focuses on Type, Industry, Function, and Region.

Segmentation based on Type

• Articulated
• Cartesian
• SCARA
• Cylindrical
• Others

Segmentation based on Industry

• Automotive
• Electrical & Electronics
• Chemical Rubber & Plastics
• Machinery
• Food & Beverages
• Others

Segmentation based on Function

• Soldering & Welding
• Materials handling
• Assembling & Disassembling
• Painting & Dispensing
• Milling, Cutting, & Processing
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America