The global industrial robotics market is expected to grow from US$ 16,847.6 Mn in 2017 to US$ 48,166.9 Mn by 2025 at a CAGR of 14.2% between 2018 and 2025.
The industrial robotics market is at its growing phase in certain countries and at infant stage in some developing countries. The industrial robotics market is further expected to flourish with increasing government support for automation in industries including, industrial robotics across the globe. One of the key factor propelling the market growth for industrial robotics is constantly aging population of several countries worldwide resulting in increasing labor costs. Further, increasing support from governments is also bolstering the growth of industrial robotics market. For instance, Chinese government announced a five-year ‘Robotics Industry Development Plan’ for the expansion of China’s industrial robotics sector. The government is offering considerable subsidies and tax breaks for industrial automation. The report focuses on an in-depth segmentation of industrial robotics market based by types, function and industry
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China is leading the global Industrial Robotics market with a share of approximately 30%. The constantly aging population of the country along with rising labor costs is insisting companies to adopt industrial robots. Additionally, Chinese government provides enormous support for the robotics industry to grow with an aim to strengthen the country’s technology sector as well to reduce dependence on foreign players. Further, the government is aiming to reach the annual production of country’s industrial robot to 100,000 by 2020. Majority of industrial robots deployed by Chinese companies are purchased from international companies, making the country dependent on foreign manufacturers. Thus, to fill this gap, the government is providing support through incentive and subsidies to robotics manufacturers in China. This has further resulted in acquisitions of foreign companies. For instance, Midea, an appliance manufacturer in China acquired Kuka, one of the leading manufacturer of industrial robotics in Germany.
By Type
- Articulated Robots
- Cartesian Robots
- SCARA Robots
- Collaborative Robots
- By Function
- Soldering & Weldin
- Material Handling
- Assembling & Disassembling
- Painting & Dispensing
- Milling
- Cutting & Processing
- By Industry
- Automotive
- Medical & Pharmaceuticals
- Electrical & Electronics
- Rubber & Plastics
- Metals and Machinery
- Foods & Agriculture
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Reason to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global industrial robotics market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global industrial robotics market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
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