The industrial robotics market is set to grow significantly, reaching $70,715 million by 2023, driven by articulated robots and strong demand in Asia-Pacific.
Global industrial robotics market was valued at $37,875 million in 2016, and is projected to reach $70,715 million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.
The articulated robots segment accounted for $18,350 million in 2016 in the industrial robotics market, owing to increased usage of these robots in the emerging industries such as packaging and healthcare sectors. However, cylindrical robots and other types of robots, such as customized and refurbished robots, are expected to grow at a significant pace in the coming years, owing to their increased demand in the industrial sectors of the Asia-Pacific region. The cylindrical and others segments are estimated to grow at CAGRs of 11.0% and 11.6%, respectively, during the forecast period.
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Major Manufacturers:
The key players operating in the industrial robotics industry are Daihen Corporation, Denso Corporation, Epson America, Inc., Fanuc Ltd., Kawasaki Heavy Industries Ltd., KUKA Robotics Corporation, Mitsubishi Electric Corporation, Nachi Robotic Systems, Inc., Panasonic Corporation, and Universal Robotics.
These players have implemented various strategies such as expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to strengthen their position in the industry.
Industrial Robotics By Region:
North America
Europe
Asia-Pacific
LAMEA
Key Benefits:
This study provides the analytical depiction of the global industrial robotics market Share along with the trends and future estimations to depict the imminent investment pockets.
The overall industrial robotics market potential is determined to understand the profitable trends to gain stronger coverage in the market.
The report presents information regarding key drivers, restraints, and opportunities along with detailed impact analyses.
Quantitative analysis of the industrial robotics market for the period of 2017-2023 is provided to determine its financial competency.
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Market Segmentation:
By Type
Articulated
Cartesian
SCARA
Cylindrical
Others
By Industry
Automotive
Electrical & Electronics
Chemical, Rubber & Plastics
Machinery
Metals
Food & Beverages
Precision & Optics
Others
Key Findings of the Global Industrial Robotics Market:
Presently, the articulated robot segment dominates the industrial robotics market, and is expected to this trend throughout the forecast period.
Automotive is the largest application segment in the present scenario, and is projected to maintain its dominance throughout the forecast period.
The food & beverages segment is expected to witness fastest growth rate in the near future.
The material handling is the largest segment in the present scenario, and is expected to maintain this trend during the forecast period.
Asia-Pacific is the largest regional market in the world, followed by North America. It is expected to witness robust growth in the near future.
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The article discusses the growth and key players in the industrial robotics market, with a forecast to 2023.
Key players include Daihen Corporation, Denso Corporation, and Fanuc Ltd., among others.
The Asia-Pacific region is the largest and fastest-growing market for industrial robotics.
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