Cost and Time Saving Benefits to Bolster the Market for Logistic Robots Companies

The procedures of storing and transporting goods along the supply chain are automated by logistics robots. These robots are frequently used in warehouses and storage facilities as they provide higher levels of uptime than manual labor. Additionally, it is producing the highest productivity increases and giving end-user profits.

Fortune Business Insights states that the global market size for logistics robots was USD 6.17 billion in 2021. The market is projected to grow from USD 7.11 billion in 2022 to USD 21.01 billion by 2029 at a CAGR of 16.7% over the forecast period.

COVID-19 Impact

Numerous sectors have experienced severe losses as a result of the COVID-19 pandemic. Up until the first half of 2020, it had a stronger impact on this market's growth prospects. The sudden closure of factories, warehouses, and other facilities had a negative effect on the supply chain systems as a whole.

Below mentioned are the top 10 logistics robot companies functioning in the market.

1. ABB Ltd

In October 2022- ABB Ltd, a global leader in industrial automation, announced a collaboration with FLSmith that will work to investigate possible ways of improvement in the mining sector. These factors are believed to enhance environmental performance, safety, and productivity. Furthermore, the rising adoption of AGVs in the mining sector is believed to get a push from this collaboration.

2. Fanuc Corporation

In October 2022- A leading robotics company, Fanuc, opened its new advanced robotics manufacturing facility in Ireland. The aim of this facility is to directly provide service and training to the Irish manufacturers through its cutting-edge automation technology.

In July 2022- Fanuc America, a subsidiary of Fanuc corporation, expanded its West Campus in Michigan to grow its operational space in Oakland County. The expansion includes a 655,000-square-foot state-of-the-art engineering research facility that will fulfill the automation demand.

3. KUKA AG

In October 2022- KUKA AG brought a smart bin-picking solution that will provide no sophisticated programming solution. The smart software is available as a vision toolkit program that will enhance the picking capabilities of robots and can be easily integrated with production.

In June 2022- KUKA AG and FlexFactory, a joint venture of MHP, Munich Re, and Porsche, announced the cooperative collaboration at Automatica 2022. This collaboration will bring an operator module that will provide consumers with a facility of adaptable production and advanced capabilities that are easily done via pay-on-production.

4. Toyota Industries Corporation

In August 2022- Toyota Industries Corporation set up its new bipolar nickel-hydrogen batteries that will boost production to 20,000 units per month. The expansion will provide growth to the development of EV and autonomous drive systems in the production line.

In March 2022- Toyota Industries Corporation made an agreement with Viastore, a Germany-based logistics system integrator. The agreement was made to strengthen the logistics solution business to fulfill the rising demand for robotics and automation among the end-users.

5. Yaskawa Electric Corporation

In October 2022- Yaskawa Electric Corporation, a leading robot manufacturer, opened its robotic technology center in Istanbul that will enhance the customer experience. Furthermore, the center also enables users to test their work pieces on the demonstration machines.

In August 2022- Yaskawa Electric Corporation launched its human collaboration robot MOTOMAN 30HCPL, which can be deployed in the palletizing line with a varied capacity of 10 kg, 20 kg, and a maximum of up to 30 kg. Moreover, its easy plug-and-play kit capabilities help connect peripheral devices easily.

6. Kion Group 

In February 2022- Kion Group launched the European research project Intelligent Motion Control (IMOCO). IMOCO aims to enhance in-house trucking capabilities with advanced motion tracking and navigate autonomously in factories and warehouses. The German project is led by the KION Group and its subsidiary STILL.

In December 2021- Kion Group opened a new production plant in China that will manufacture forklifts and laid the foundation of supply chain solutions in the immediate neighborhood that consist of a technology center and state-of-the-art manufacturing line that will boost the in-house production capabilities of trucks.

7. Toshiba Corporation

In August 2022, Toshiba Corporation announced the Toshiba AI Governance Statement for developing, providing, and using AI. The plan was to adopt AI in the work culture and products easily. Thus, AI integration into the company’s products provides a reliable and enhanced experience to consumers.

8. Krones AG

In March 2022- Krone Ag and Lamken announced a collaboration for the combined power projects and unveiled their autonomous field robots. The robot can be controlled through sensors and network-enabled devices. It also makes electrical running highly efficient than mechanical and hydraulic equipment.

9. Kawasaki Heavy Industries Ltd

In August 2022- Kawasaki Robotics, a Kawasaki Heavy Industries Ltd subsidiary, teamed up with IRIS Factory Automation to develop RPZ-MAX, a small-scale palletizer robot. It is built to handle a larger load with 30-80 kg capacity. Furthermore, advantages such as high output with more flexibility to ease up the logistic operations are leveraged.

10. Omron Corporation

In October 2022- OMRON Corporation invested in Kirin Techno-Systems, a full-scale manufacturer of inspection machines. The joint investment is made to develop Manufacturing DX (Digital Transformation) solutions that will enhance the use of inspection data and enhance the development of the food & beverage industry. Furthermore, the collaboration will bring the development of advanced inspection robots in the food & beverage logistics industry

Present Opportunities in the Market

The global market is expanding as a result of the increasing demand for logistics robots in logistics operations to save costs and time. The implementation of logistics robots by businesses is being prompted by an increase in accidents that occur in warehouses or storage facilities. This market will continue to grow as strict safety standards and regulations are implemented to prevent the creation of hazardous environments involving gases or other materials.

Challenges Prevailing in the Market

The market for logistics robots is expanding as a result of their versatility in a range of tasks. These robots are equipped with several sensors and programming tools that allow them to do diverse jobs sequentially. This results in a slowdown in market growth due to high costs involved in acquiring and programming such robots.