Industrial Robotics Market to be Worth $60.56 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 12, 2023 /PRNewswire/ -- The global industrial robotics market size is expected to reach USD 60.56 billion by 2030, expanding at a CAGR of 10.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. The increasing trend of mass production, predominantly in the manufacturing of automobiles, electronics, and packaged food, among others, is expected to drive market growth. For instance, in March 2022, Ford Motor Company integrated industrial robots in its factories to operate 3D printers which produced small car parts.

Key Industry Insights & Findings from the report:

• Based on end-use, the chemical, rubber, & plastics segment is expected to grow at the highest CAGR of over 12% over the forecast period as the robots can work around the clock and help avoid health issues to laborers due to toxic fumes and harmful chemicals.
• Based on application, the handling segment recorded the largest market share in 2022 owing to the trend of e-commerce shopping, and increasing demand for robotics in logistics & warehouse applications.
• Based on geography, the Middle East & Africa is expected to grow at the highest CAGR over the forecast period owing to favorable government initiatives for automation and robotics along with significant foreign investment.

Read 163 page market research report, "Industrial Robotics Market Size, Share & Trends Analysis Report By Application (Handling, Assembling, Processing), By End-Use (Automotive, Electronics), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Industrial Robotics Market Growth & Trends

Moreover, the increasing demand for products to be available at a fast rate has resulted in producers opting for high-volume goods production. For instance, in December 2022, Taiwan Semiconductor Manufacturing Company Limited announced that it had begun mass manufacturing its 3-nanometer chips due to global demand. Therefore, the factories are using industrial robotics and automation systems as they can complete processes in shorter timelines without significant human intervention.

Additionally, governments around the world are pushing for automation and robotics in the industrial sector to boost national exports, increase technology penetration, and attract foreign investment. For instance, in September 2022, the crown prince of Dubai launched The Dubai Robotics and Automation Program to boost robotics in the country. Under the program, around 200,000 robots will be provided to the industrial and logistics sectors to boost production. 

The COVID-19 pandemic had a significant impact on the industrial robotics industry as almost all industries were affected due to government lockdowns and regulations. During this time, there was a decline in the manufacturing of industrial robots itself. However, social distancing and partial workforce regulations during the pandemic increased the demand for automation robots and systems in the industrial sector to keep up with manufacturing and industrial processes demand. Moreover, the demand for industrial robots has remained constant post-pandemic due to the ongoing trend of automation in factories.

Industrial Robotics Market Segmentation

Grand View Research has segmented the global industrial robotics market based on application, end-use, and region.

Industrial Robotics Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• Handling
• Assembling & Disassembling
• Welding & Soldering
• Cleanroom
• Dispensing
• Processing
• Others

Industrial Robotics Market - End-Use Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Automotive
• Electrical/Electronics
• Metal/Heavy Machinery
• Chemical, Rubber & Plastics
• Food
• Others

Industrial Robotics Market - Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Italy
• France
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa

List of Key Players in the Industrial Robotics Market

• ABB Ltd.
• Yaskawa Electric Corporation
• Mitsubishi Electric Corporation
• Nachi-Fujikoshi Corp.
• Comau SpA
• KUKA AG
• Fanuc Corporation
• Denso Corporation
• Kawasaki Heavy Industries, Ltd.
• Omron Corporation

Check out more market research studies published by Grand View Research:

• Warehouse Robotics Market - The global warehouse robotics market size is anticipated to reach USD 6.46 billion by 2025, expanding at a CAGR of 11% over the forecast period, according to a new report published by Grand View Research, Inc. The rapidly growing e-commerce industry and intensifying pressure on warehouses from the consumers about quick and proficient deliveries are expected to drive the growth.
• Smart Robots Market - The global smart robots market size is anticipated to reach USD 16.46 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 22.4% over the forecast period. Factors such as increasing adoption of autonomous robots for carrying out iterative tasks, rapid technological developments in robotics, and increasing investments in industrial automation have boosted the adoption of smart robots in various end use segments.
• Space Robotics Market - The global space robotics market size is expected to reach USD 5.71 billion by 2027, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Space robotics is gaining traction in recent years owing to the growing exploration of outer space; the need for operations & maintenance of satellites, space stations, and other platforms; and the need for saving cost and mitigating safety issues. Furthermore, the rising trend of using autonomous systems and Artificial Intelligence (AI) technology in robotics is widening the horizon of space exploration.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Grand View Research, Inc.
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SOURCE Grand View Research, Inc

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