Global Industrial Robots Market | Growth, Analysis

1
The Global Industrial Robots Market to Rise at
CAGR of 10.35 by 2028
Triton Market Research presents the Global
Industrial Robots Market segmented by Application
(Dispensing, Material Handling, Welding
Soldering, Assembling Disassembling,
Processing, Other Applications), Verticals
(Machinery Products Metal, Automotive, Food
Beverage, Electronic Electric, Chemical,
Plastics, Rubber, Other Verticals), Type (SCARA
Robots, Articulated Robots, Cylindrical Robots,
Cartesian Robots, Other Robots), and by Geography
(Middle East and Africa, North America, Latin
America, Asia-Pacific, Europe). It also discusses
the Market Summary, Industry Outlook, Impact of
COVID-19, Key Insights, Porters Five Forces
Analysis, Market Attractiveness Matrix, Vendor
Scorecard, Key Market Strategies, Drivers,
Challenges, Opportunities, Competitive Landscape,
Methodology Scope, Global Market Size,
Forecasts Analysis (2021-2028). Tritons report
estimates that the global industrial robots
market is set to grow at a CAGR of 10.35 over
the forecasted period 2021-2028.
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rch.com/reports/industrial-robots-marketrequest-f
ree-sample Industrial robots are automated,
programmable, and can move on three or more
dimensions. They are widely used in an industrial
setting for production purposes.
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In recent years, several companies have started
employing collaborative robots for various
applications. For instance, Craft and Technik
Industries, an automotive components manufacturer
in India, resorted to a cobot after facing client
rejections due to human errors. Therefore, the
growing adoption of collaborative robots in
industrial settings is likely to create affluent
opportunities for the industrial robots
market. However, lack of a skilled workforce,
resistance among employees, and the high cost of
industrial robots are negatively impacting the
studied markets progress. Geographically, the
Asia-Pacific is anticipated to witness the
fastest growth rate in the industrial robots
market over the forecast period. This is because
the region accounts for a significant percentage
of industrial robot adoption, as per the
International Monetary Fund study. Moreover,
several governments invested heavily in robotics
and AI research with the hope of gaining
commercial value. Hence, the growing adoption of
robots, investments in AI, and tax incentives are
estimated to widen the scope of the industrial
robots market in the APAC region over the
forecasted period. The major companies in the
industrial robots market are Schunk GmbH,
Mitsubishi Electric Corporation, Rethink
Robotics, Kuka AG, ABB Ltd, Fanuc Corporation,
Kawasaki Heavy Industries Ltd, Rockwell
Automation Inc, Nachi Fujikoshi Corporation,
Yamaha Robotics, Universal Robots, Omron Adept,
Staubli International AG, Seiko Epson
Corporation, and Aurotek Corporation. Several
prominent companies like ABB and Kawasaki are
dominating the industrial robots market. The
market requires high investments in RD and
manufacturing plants to produce a more extensive
product portfolio. This estimated the threat of
new players to be on a moderate level. On the
other hand, companies are investing heavily and
acquiring smaller companies to expand their
footings in the market. Thus, the competition
level among existing market players is likely to
be higher.
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