Market by Type, Application, Verticals, and Geography | Forecast 2021-2028
Industrial robots are programmable, automated, and capable of movement
on three or more dimensions. They are frequently adopted in an industrial
environment for production. As per Triton Market Research, the global
industrial robots market was valued at $38.02 billion in 2020 and is expected
to reach $87.79 billion by 2028, growing at a CAGR of 10.35% during the
forecast period from 2021 to 2028.
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Triton’s report on the industrial robots market provides an in-depth
insight into the market. The detailed analysis of the market includes key
insights, Porter’s five forces analysis, market attractiveness index, vendor
scorecard, key strategies, and the impact of COVID-19 on the industrial robots
market.
The market is driven by several factors, such as the rising R&D
investments in robots, increasing adoption of industrial robots across
industries, and emerging smart factories. Due to diversification and the
development of robot technologies, there has been a rise in R&D investments
in new robotic technology in recent years. The National Robotics Initiative
(NRI) was launched in 2011 to assist fundamental robot R&D. Later on, NRI
progressed from NRI-1.0 to NRI-2.0 with the backing of the US government. In
addition, NRI-2.0 received $32 million in funding from the US government in
2020. Further, according to the International Federation of Robotics, in 2019,
the Chinese government invested $577 million in developing intelligent systems.
Additionally, Japan raised its robotics R&D budget in 2019 to $351 million,
with the intent of becoming the world’s top robotics innovation hub. Also,
under Horizon Europe, $240 million was allocated for the robotics-related work
program 2021-2022 in Cluster 4. As a result, the rising R&D investments
will boost the demand for industrial robots.
Furthermore, recent robots are energy-efficient, lowering energy
consumption by assisting in the cost-effective manufacture of renewable energy
equipment such as photovoltaics or hydrogen fuel cells. Robots produce fewer
rejections and substandard goods through higher precision, which positively
impacts the ratio of resource input over output. Further, many companies,
policymakers, and key industry stakeholders are working towards reducing carbon
footprint by combining robotic technology with artificial intelligence
(AI)-powered applications. Also, many industrial robots replacing outdated
equipment are more compact and efficient in terms of the amount of energy
necessary to operate them. As a result, fewer pollutants are expelled into the
air, creating a healthier bottom line for the manufacturer. The adoption of
industrial robots is helping companies and manufacturers across industries to
reduce their carbon footprints through increased efficiency and mitigation of
error.
In contrast, the market has been affected due to the scarcity of a skilled workforce. Besides, the maintenance and repair costs of these robots are high. Robot’s programs need to be updated to suit the changing requirements. Also, the repair cost may be relatively high in case of breakdown, and the procedures to restore lost code or data may be time-consuming. Over the last decade, businesses have found it difficult to find competent workers to fill specialized jobs in their facilities. In this regard, automation adds another layer to the problem because robots require programming and expertise. Hence, the lack of a skilled workforce has become a great challenge in implementing industrial robots.
Key geographies covered in
the global industrial robots market are:
•          North America: United
States and Canada
•          Europe: United Kingdom,
France, Germany, Spain, Italy, Russia, and Rest of Europe
•          Asia-Pacific: China,
Japan, India, Australia & New Zealand, South Korea, ASEAN Countries, and
Rest of Asia-Pacific
•          Latin America: Brazil,
Mexico, and Rest of Latin America
•          Middle East and Africa:
Saudi Arabia, Turkey, United Arab Emirates, South Africa, and Rest of Middle
East & Africa
The segmentation analysis of
the industrial robots market includes:
•          Marked by Type:
          o         Articulated Robots
          o         Cartesian Robots
          o         SCARA Robots
          o         Cylindrical Robots
          o         Other Robots
•          Market by Application:
          o         Material Handling
          o         Assembling & Disassembling
          o         Welding & Soldering
          o         Dispensing
          o         Processing
          o         Other Applications
•          Market by Verticals:
          o         Automotive
          o         Electronic & Electric
          o         Machinery Products & Metal
          o         Chemical, Plastics, & Rubber
          o         Food & Beverage
          o         Other VerticalsÂ
The well-known firms in the industrial robots
market comprise Kuka AG, ABB Ltd, Fanuc Corporation, Nachi Fujikoshi
Corporation, Kawasaki Heavy Industries Ltd, Rockwell Automation Inc, Schunk
GmbH, Mitsubishi Electric Corporation, Rethink Robotics, Yamaha Robotics, Omron
Adept, Seiko Epson Corporation, Aurotek Corporation, Universal Robots, and
Staubli International AG.Â
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1. GLOBAL
INDUSTRIAL ROBOTS MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON INDUSTRIAL ROBOTS MARKET
2.2. KEY
INSIGHTS
2.2.1. GROWING
INDUSTRIAL IOT 4.0
2.2.2. USE OF
ROBOTS TO REDUCE CARBON FOOTPRINT
2.2.3. INCORPORATING
HUMAN-ROBOT INTERACTION IN INDUSTRIAL ROBOTS
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. KEY
MARKET STRATEGIES
2.6.1. CONTRACTS
& AGREEMENTS
2.6.2. PRODUCT
LAUNCHES
2.6.3. INVESTMENTS
& EXPANSIONS
2.7. MARKET
DRIVERS
2.7.1. RISING
R&D INVESTMENTS IN ROBOTS
2.7.2. INCREASING
ADOPTION OF INDUSTRIAL ROBOTS
2.7.3. EMERGING
SMART FACTORIES
2.8. MARKET
CHALLENGES
2.8.1. SCARCITY
OF SKILLED WORKFORCE
2.8.2. RESISTANCE
AMONG EMPLOYEES
2.8.3. HIGH
COST OF INDUSTRIAL ROBOTS
2.9. MARKET
OPPORTUNITIES
2.9.1. EMPLOYING
COBOTS IN WORKPLACES
2.9.2. ADOPTION
OF AUTONOMOUS MOBILE ROBOTS (AMRS)
2.9.3. UTILIZATION
OF AI IN INDUSTRIAL ROBOTS
3. GLOBAL
INDUSTRIAL ROBOTS MARKET OUTLOOK - BY TYPE
3.1. ARTICULATED
ROBOTS
3.2. CARTESIAN
ROBOTS
3.3. SCARA
ROBOTS
3.4. CYLINDRICAL
ROBOTS
3.5. OTHER
ROBOTS
4. GLOBAL
INDUSTRIAL ROBOTS MARKET OUTLOOK - BY APPLICATION
4.1. MATERIAL
HANDLING
4.2. ASSEMBLING
& DISASSEMBLING
4.3. WELDING
& SOLDERING
4.4. DISPENSING
4.5. PROCESSING
4.6. OTHER
APPLICATIONS
5. GLOBAL
INDUSTRIAL ROBOTS MARKET OUTLOOK - BY VERTICALS
5.1. AUTOMOTIVE
5.2. ELECTRONIC
& ELECTRIC
5.3. MACHINERY
PRODUCTS & METAL
5.4. CHEMICAL,
PLASTICS, & RUBBER
5.5. FOOD
& BEVERAGE
5.6. OTHER
VERTICALS
6. GLOBAL
INDUSTRIAL ROBOTS MARKET – REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
BY TYPE
6.1.2. MARKET
BY APPLICATION
6.1.3. MARKET
BY VERTICALS
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
BY TYPE
6.2.2. MARKET
BY APPLICATION
6.2.3. MARKET
BY VERTICALS
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. SPAIN
6.2.4.5. ITALY
6.2.4.6. RUSSIA
6.2.4.7. REST
OF EUROPE
6.3. ASIA-PACIFIC
6.3.1. MARKET
BY TYPE
6.3.2. MARKET
BY APPLICATION
6.3.3. MARKET
BY VERTICALS
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. ASEAN
COUNTRIES
6.3.4.6. AUSTRALIA
& NEW ZEALAND
6.3.4.7. REST
OF ASIA-PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
BY TYPE
6.4.2. MARKET
BY APPLICATION
6.4.3. MARKET
BY VERTICALS
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. REST
OF LATIN AMERICA
6.5. MIDDLE
EAST AND AFRICA
6.5.1. MARKET
BY TYPE
6.5.2. MARKET
BY APPLICATION
6.5.3. MARKET
BY VERTICALS
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. UNITED
ARAB EMIRATES
6.5.4.2. SAUDI
ARABIA
6.5.4.3. TURKEY
6.5.4.4. SOUTH
AFRICA
6.5.4.5. REST
OF MIDDLE EAST & AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. ABB
LTD
7.2. AUROTEK
CORPORATION
7.3. FANUC
CORPORATION
7.4. KAWASAKI
HEAVY INDUSTRIES LTD
7.5. KUKA
AG
7.6. MITSUBISHI
ELECTRIC CORPORATION
7.7. NACHI FUJIKOSHI
CORPORATION
7.8. OMRON
ADEPT
7.9. RETHINK
ROBOTICS
7.10. ROCKWELL
AUTOMATION INC
7.11. SCHUNK
GMBH
7.12. SEIKO
EPSON CORPORATION
7.13. STAUBLI
INTERNATIONAL AG
7.14. UNIVERSAL
ROBOTS
7.15. YAMAHA
ROBOTICS
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL INDUSTRIAL
ROBOTS MARKET, BY GEOGRAPHY, 2021-2028 (IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: GLOBAL INDUSTRIAL
ROBOTS MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 4: GLOBAL INDUSTRIAL
ROBOTS MARKET, BY APPLICATION, 2021-2028 (IN $ MILLION)
TABLE 5: GLOBAL INDUSTRIAL
ROBOTS MARKET, BY VERTICALS, 2021-2028 (IN $ MILLION)
TABLE 6: GLOBAL INDUSTRIAL
ROBOTS MARKET, BY GEOGRAPHY, 2021-2028 (IN $ MILLION)
TABLE 7: NORTH AMERICA
INDUSTRIAL ROBOTS MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA
INDUSTRIAL ROBOTS MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA
INDUSTRIAL ROBOTS MARKET, BY APPLICATION, 2021-2028 (IN $ MILLION)
TABLE 10: NORTH AMERICA
INDUSTRIAL ROBOTS MARKET, BY VERTICALS, 2021-2028 (IN $ MILLION)
TABLE 11: EUROPE INDUSTRIAL
ROBOTS MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
TABLE 12: EUROPE INDUSTRIAL
ROBOTS MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 13: EUROPE INDUSTRIAL
ROBOTS MARKET, BY APPLICATION, 2021-2028 (IN $ MILLION)
TABLE 14: EUROPE INDUSTRIAL
ROBOTS MARKET, BY VERTICALS, 2021-2028 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC
INDUSTRIAL ROBOTS MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
TABLE 16: ASIA-PACIFIC
INDUSTRIAL ROBOTS MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 17: ASIA-PACIFIC
INDUSTRIAL ROBOTS MARKET, BY APPLICATION, 2021-2028 (IN $ MILLION)
TABLE 18: ASIA-PACIFIC
INDUSTRIAL ROBOTS MARKET, BY VERTICALS, 2021-2028 (IN $ MILLION)
TABLE 19: LATIN AMERICA
INDUSTRIAL ROBOTS MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
TABLE 20: LATIN AMERICA
INDUSTRIAL ROBOTS MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 21: LATIN AMERICA
INDUSTRIAL ROBOTS MARKET, BY APPLICATION, 2021-2028 (IN $ MILLION)
TABLE 22: LATIN AMERICA
INDUSTRIAL ROBOTS MARKET, BY VERTICALS, 2021-2028 (IN $ MILLION)
TABLE 23: MIDDLE EAST AND
AFRICA INDUSTRIAL ROBOTS MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
TABLE 24: MIDDLE EAST AND
AFRICA INDUSTRIAL ROBOTS MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 25: MIDDLE EAST AND
AFRICA INDUSTRIAL ROBOTS MARKET, BY APPLICATION, 2021-2028 (IN $ MILLION)
TABLE 26: MIDDLE EAST AND
AFRICA INDUSTRIAL ROBOTS MARKET, BY VERTICALS, 2021-2028 (IN $ MILLION)
FIGURE
1: MARKET ATTRACTIVENESS INDEX
FIGURE
2: GLOBAL INDUSTRIAL ROBOTS MARKET, BY TYPE, 2020 & 2028 (IN %)
FIGURE
3: GLOBAL INDUSTRIAL ROBOTS MARKET, BY ARTICULATED ROBOTS, 2021-2028 (IN $
MILLION)
FIGURE
4: GLOBAL INDUSTRIAL ROBOTS MARKET, BY CARTESIAN ROBOTS, 2021-2028 (IN $
MILLION)
FIGURE
5: GLOBAL INDUSTRIAL ROBOTS MARKET, BY SCARA ROBOTS, 2021-2028 (IN $ MILLION)
FIGURE
6: GLOBAL INDUSTRIAL ROBOTS MARKET, BY CYLINDRICAL ROBOTS, 2021-2028 (IN $
MILLION)
FIGURE
7: GLOBAL INDUSTRIAL ROBOTS MARKET, BY OTHER ROBOTS, 2021-2028 (IN $ MILLION)
FIGURE
8: GLOBAL INDUSTRIAL ROBOTS MARKET, BY APPLICATION, 2020 & 2028 (IN %)
FIGURE
9: GLOBAL INDUSTRIAL ROBOTS MARKET, BY MATERIAL HANDLING, 2021-2028 (IN $
MILLION)
FIGURE
10: GLOBAL INDUSTRIAL ROBOTS MARKET, BY ASSEMBLING & DISASSEMBLING,
2021-2028 (IN $ MILLION)
FIGURE
11: GLOBAL INDUSTRIAL ROBOTS MARKET, BY WELDING & SOLDERING, 2021-2028 (IN
$ MILLION)
FIGURE
12: GLOBAL INDUSTRIAL ROBOTS MARKET, BY DISPENSING, 2021-2028 (IN $ MILLION)
FIGURE
13: GLOBAL INDUSTRIAL ROBOTS MARKET, BY PROCESSING, 2021-2028 (IN $ MILLION)
FIGURE
14: GLOBAL INDUSTRIAL ROBOTS MARKET, BY OTHER APPLICATIONS, 2021-2028 (IN $
MILLION)
FIGURE
15: GLOBAL INDUSTRIAL ROBOTS MARKET, BY VERTICALS, 2020 & 2028 (IN %)
FIGURE
16: GLOBAL INDUSTRIAL ROBOTS MARKET, BY AUTOMOTIVE, 2021-2028 (IN $ MILLION)
FIGURE
17: GLOBAL INDUSTRIAL ROBOTS MARKET, BY ELECTRONIC & ELECTRIC, 2021-2028
(IN $ MILLION)
FIGURE
18: GLOBAL INDUSTRIAL ROBOTS MARKET, BY MACHINERY PRODUCTS & METAL, 2021-2028
(IN $ MILLION)
FIGURE
19: GLOBAL INDUSTRIAL ROBOTS MARKET, BY CHEMICAL, PLASTICS, & RUBBER,
2021-2028 (IN $ MILLION)
FIGURE
20: GLOBAL INDUSTRIAL ROBOTS MARKET, BY FOOD & BEVERAGE, 2021-2028 (IN $
MILLION)
FIGURE
21: GLOBAL INDUSTRIAL ROBOTS MARKET, BY OTHER VERTICALS, 2021-2028 (IN $
MILLION)
FIGURE
22: GLOBAL INDUSTRIAL ROBOTS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
FIGURE
23: UNITED STATES INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
24: CANADA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
25: UNITED KINGDOM INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
26: GERMANY INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
27: FRANCE INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
28: SPAIN INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
29: ITALY INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
30: RUSSIA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
31: REST OF EUROPE INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
32: CHINA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
33: JAPAN INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
34: INDIA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
35: SOUTH KOREA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
36: ASEAN COUNTRIES INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
37: AUSTRALIA & NEW ZEALAND INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $
MILLION)
FIGURE
38: REST OF ASIA-PACIFIC INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
39: BRAZIL INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
40: MEXICO INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
41: REST OF LATIN AMERICA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
42: UNITED ARAB EMIRATES INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
43: SAUDI ARABIA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
44: TURKEY INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
45: SOUTH AFRICA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $ MILLION)
FIGURE
46: REST OF MIDDLE EAST & AFRICA INDUSTRIAL ROBOTS MARKET 2021-2028 (IN $
MILLION)