Industrial Robots Market to Grow at 12.3% CAGR over 2023 to 2030; BMW AG and FANUC Ink Framework Agreement to Strengthen Industry Position

The global industrial robots market size stood at USD 16.78 billion in 2022. The market value is slated to rise from USD 18.19 billion in 2023 to USD 41.02 billion by 2030 at a CAGR of 12.3% during 2023-2030. The robots help generate high-quality goods in automation applications and enable the improvement of productivity while helping cost reduction.

Fortune Business Insights™ presents this information in its report titled “Industrial Robots Market Size, Share & COVID-19 Impact Analysis, By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel, and Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, and Others), By Industry (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, and Others), and Regional Forecast, 2023-2030”.

Growing Need for Synchronization Boosted Product Demand Amid Coronavirus Pandemic

The pandemic period resulted in an upsurge in the demand for industrial robots for synchronizing the control, production, and management of operations. The period witnessed an increase in small and medium-sized enterprises, propelling product demand to a considerable extent. The increasing expenditure on automation during the forecast period propelled market expansion during the COVID-19 pandemic.

Nachi-Fujikoshi Group Launched New Solution to Strengthen Industry Position

In March 2021, Nachi-Fujikoshi Group rolled out a new series of small cooperative robot dubbed “EZ”. The solution has been particularly designed for an array of industries such as electrical, electronics, automotive, and general industrial machinery.

The product has an array of features such as high speed, cable routing, highly precise operations, and long durability.

Rising Investments Across Numerous Industries to Propel Industry Expansion

Industrial robots market growth is majorly being propelled by the escalating investments across a range of sectors. These comprised consumer electronics, equipment, automotive, pharmaceuticals, packaging, and others.

However, the industry expansion could be hindered by the high maintenance and investment costs at the initial stage.

Key Companies Roll Out New Solutions to Strengthen Industry Position

Leading industry participants are centered on implementing a series of initiatives for strengthening their market foothold. These include merger agreements, the rollout of new products, and acquisitions. Some of the other steps comprise partnership agreements, collaborations, and the formation of alliances.

Key Players Profiled in the Market Report

• ABB (Switzerland)


• YASKAWA ELECTRIC CORPORATION (Japan)


• Mitsubishi Electric Corporation (Japan)


• NACHI-FUJIKOSHI CORP. (Japan)


• Comau SpA (Italy)


• KUKA AG (Germany)


• FANUC CORPORATION (Japan)


• DENSO CORPORATION (Japan)


• Kawasaki Heavy Industries, Ltd. (Japan)


• Omron Corporation (Japan)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/industrial-robots-market-100360

Key Industry Development

February 2020 – BMW AG and FANUC entered a framework agreement for the supply of 3,500 robots for new plants and production lines. The robots would be used in the development of future and existing generations of BMW models.

Further Report Findings

• The market share for Asia Pacific is slated to rise at a considerable pace throughout the forecast period. The surge is due to the escalating automation demand in Japan, China, and India.


• The region of North America is expected to depict appreciable expansion over the projected period. The rise is on account of the increasing demand for customized and small robotic systems.


• On the basis of robot type, the market is subdivided into SCARA, cylindrical, parallel, Cartesian/linear, and others. The articulated robots segment is anticipated to register substantial expansion over the forecast period.


• Based on application, the market is fragmented into pick & place, welding & soldering, assembling, material handling, cutting & processing, and others. The material handling segment is estimated to record considerable growth over the anticipated period.

Table of Segmentation