The global industrial robots market size is expected to grow from $46.82 billion in 2021 to $49.93 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The global industrial robot market size is expected to grow to $64.56 billion in 2026 at a CAGR of 6.6%.
What is the Global Industrial Robots Market?
The industrial robots market consists of sales of robotic products and related services for the performance of a specific task. A robot is a programmable, mechanical device generally used in place of a person to perform dangerous or repetitive tasks with a high degree of accuracy. A robot has its control system and is not controlled by a machine.
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What drives the Global Industrial Robots Market?
The shortage of skilled workers is contributing to the growth of the industrial robots market. As there is an increase in production requirements and due to high demand manufacturers are not able to fulfill the supply due to a shortage of skilled labor. Shortage of skilled labor exists due to two main reasons, the presence of unskilled workers and skilled workers but not available for work. According to the Department of Labor, as of January 2020, the US economy had 7 million job openings, but only 5.6 million people were looking for work. Producers to maintain high supply are thus opting towards the installation of robots. Industrial robots increase the overall productivity, efficiency, and effectiveness of the company. Therefore, the shortage of labor gives rise to other opportunities for the addition of robots in the workforce.
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Global Industrial Robots Market Segments
The global industrial robots market is segmented:
By Product Type: Articulated Robots, Linear Robots, Cylindrical Robots, Parallel Robots, Scara Robots, Others
By End-User Industry: Automotive, Electrical and Electronics, Healthcare and Pharmaceuticals, Food and Beverages, Rubber and Plastics, Metals and Machinery, Others
By Application: Pick and Plane, Wielding and Soldering, Material Handling, Assembling, Cutting and Processing, Others
By Geography: The regions covered in the industrial robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Industrial Robots Global Market Report 2022provides market size and growth forecasts for the global industrial robots market, global industrial robots market share, industrial robots market segments and geographies, industrial robots market competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial robots market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Industrial Robots Industry Playersinclude ABB, Yaskawa, Kuka, Fanuc, Mitsubishi Electric, Kawasaki Heavy Industries, Denso, Nachi Fujikoshin, Epson, and Dürr. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
