Meticulous Research®, a global leader in market research, has recently published a report titled "Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029."

The report forecasts that the global industrial robotics market will reach $32.7 billion by 2029, with a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029. By volume, the market is expected to grow at a CAGR of 11.2%, reaching 950.1 thousand units by 2029. This growth is driven by the increased use of robotics in manufacturing, favorable government policies supporting automation, high labor costs in North America and Europe, and the growth of small and medium-sized enterprises (SMEs).

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Automation trends in the automotive and electronics sectors are also expected to boost the market, as companies aim to reduce human labor.

Challenges for the market include the need for skilled operators and safety issues related to the use of industrial robots.

The report segments the global industrial robotics market based on component, payload, application, end-use industry, and geography, offering a comprehensive analysis of the competitive landscape and market trends at regional and country levels.

Component segmentation includes robots, robot accessories, software, and controllers, with the robots segment expected to capture the largest share in 2022. The demand for robots has increased across industries that need automation for tasks that require precision and the ability to work in hazardous environments.

In terms of payload, the market is divided into up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg. The up to 60 kg segment is anticipated to grow at the fastest rate, fueled by the use of SCARA and collaborative robots in sectors such as electronics and healthcare.

Application-based segmentation includes material handling, assembling & disassembling, welding & soldering, dispensing, processing, machine tending, inspection, and others. Material handling robots are expected to account for the largest share of the market, automating tedious and unsafe tasks, and enhancing productivity.

By end-use industry, the market is segmented into automotive, electrical & electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharmaceuticals, and others. The automotive sector is expected to lead the market, with robots being widely used to accelerate production, reduce costs, and improve worker safety.

Geographic Overview:

The global industrial robotics market is segmented by geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to dominate the market in 2022, driven by rising labor costs and the adoption of automation technologies across industries.

Key Players:

The key players profiled in the global industrial robotics market study include ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO., Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and F&P Robotics AG (Switzerland).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of component, payload, application, end-use industry, and geography?
What is the historical market size for industrial robots across the globe?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and challenges in the global industrial robots market?
Who are the major players in the market, and what are their market shares?
How is the competitive landscape for the global industrial robots market?
What are the recent developments in the global industrial robots market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global industrial robots market, and how do they compete with other players?
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