According to our research report, the Global industrial robots market was valued at USD 15.91 billion and is projected to reach a market size of USD 35.4 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 12.1%.
Industry Overview
An industrial robot is a sort of mechanical device that receives input to carry out automatic activities associated with industrial production. According to use and industrial requirements, these robots' programs may be modified as often as necessary. Industrial robots aid in boosting productivity while cutting costs and providing high-quality goods for automation applications. Drive, end-effector, robotic manipulators, sensors, and controls make up the majority of industrial robots. The robotic controller, which aids in providing commands, is the robot's brain. Microphones and cameras are used as robot sensors to keep the machine aware of its surroundings.
The end effectors assist in engaging the robot with the workpieces, whereas the robotic manipulator is typically the robot's arm that aids in movement and placement. Collaborative, cartesian, SCARA, cylindrical, and articulated robots are the five categories of robots most commonly employed in the business. The kind of robot chosen is determined by the level of mobility required, desired size, and payload capacity. Industrial robots aid in enhancing production for a productive and healthy process.
There is a lack of workers as a result of the UK's annual increase in labor costs of more than 12%. Market participants are investing in industrial robots to address these issues. For instance, Rishi Sunak, the chancellor of the Exchequer, invested in robots in January 2022 to assist the UK people and economy in addressing the challenge of inflation brought on by a labor shortage. Additionally, it is predicted that labor costs in the US would rise by more than 20%. As a result, businesses take more steps to employ robots to make up for labor costs and shortages, which propels the industrial robotics market. Additionally, according to information from North American factories and sectors, over 25,000 robots were ordered by manufacturers and other industrial users in 2021 compared to 2019. The microelectronics sector, which utilizes small robots to pick and put small components, is responsible for the high importation of robots. The worldwide microelectronic industry has expanded by more than 10% since 2010 according to trends. Therefore, it is anticipated that the industrial robot market would be driven by the expansion of the microelectronic sector, which requires more robots.
The COVID-19 pandemic, a fatal respiratory illness that began in China, has now spread around the world. The COVID-19 epidemic negatively impacted the industrial robotics business in 2019 as well because China has been the largest market for industrial robots (40–50 percent share) for at least the last five years. The leading companies in the industrial robots sector, with headquarters in Japan, had a significant drop in revenue in 2019. For instance, FANUC (Japan) reported in March 2020 that its ROBOT division's revenue fell 6.9 percent in 2019 compared to 2018. Industrial robots were slowly installed in several important industries, including automotive, electrical and electronics, metals, and metallurgy, as a result of the COVID-19 epidemic.
Market Drivers
The Role of Government Funding in Advancing Robotics and Manufacturing Resilience Drives the Industrial Robotics Market
Through partnerships and the creation of cutting-edge robotics solutions, the Advanced Robotics for Manufacturing (ARM) Institute aims to increase the competitiveness of US firms. The US Department of Defense provides funding for it. To enable the swift reaction necessary for the COVID-19 pandemic, the institution has appealed for quick and high-impact robotics projects. The Coronavirus Aid, Relief, and Economic Security (CARES) Act would provide funding for the approved ideas. Such enticing incentives motivate businesses to create novel solutions. The production-linked incentive (PLI) plan has been expanded by the Indian government to eleven industrial sectors, with a primary focus on the automotive and automotive component industries. This incentive package is worth Rs. 1.45 trillion. As part of its China Exit Policy, the Japanese government is providing Japanese businesses with USD 221 million in subsidies so they may move their headquarters to India and other countries. The French government has provided financial assistance through its State Guarantee program by guaranteeing the repayment of some qualified loans up to a total of USD 358 billion, helping businesses overcome their liquidity problems. To combat the COVID-19 pandemic's effects, Indonesia launched two stimulus packages. The first package, worth US$725 million, was released in February 2020, while the second, worth US$8 billion, was released in March 2020. To safeguard the economy and small- and medium-sized firms (SMEs), notably in the manufacturing sector, the second stimulus package was introduced.
Increasing automation in the electronics industry Fueling the Growth of Industrial Robotics Market
Electronics businesses will be able to develop more because of the rise in automation since it will be easier and less expensive for them to create prototypes. Throughout the whole manufacturing cycle, robots may be utilized for tasks including assembling, dispensing, milling, inspecting, packing, and palletizing. The demand for robotics is also being aided by improvements in end effectors and vision systems. Robots may pick up unsorted components from bins and mount them in the appropriate orientation, for instance, using random bin picking. Currently, repetitive and redundant jobs like hand assembly and tooling comprise the majority of what manufacturing workers in the electronics sector do. Robotics investments will alter the expectations imposed on people, allowing them to concentrate on high-importance jobs like final inspection and quality control.
Due to their ability to collaborate with people, collaborative robots may be included in already-existing manufacturing lines. These robots may be reprogrammed for different tasks once their usage in a particular application is complete since they are simpler to program Since the product cycles for electronics sometimes only last a few months, robots offer flexibility and reusability. Specialized robots have been created by several businesses. As an illustration, the KR 3 AGLIUS from KUKA (Germany) is designed for quick cycle times in tasks like handling displays and circuit boards, handling tiny screws, and polishing smartphone cases.
Market Restraints
High costs of deployment, especially for SMEs
Especially for businesses with no past expertise, a robotic automation project might be difficult. Not only is a significant monetary investment necessary to buy the robot, but it is also necessary for integration, programming, and maintenance. In some circumstances, a bespoke integration could be necessary, which would increase total expenses. It's possible that businesses don't always have the equipment and space needed to deploy robots. Return on investment (ROI) can be difficult for SMEs because they often produce in modest volumes. Companies that use irregular or seasonal production schedules are further examples of the problem. Since items need to be updated yearly on average, rapidly changing consumer preferences will necessitate regular robot retraining. Another issue is over-automation.
For instance, compared to its Japanese competitors, the US car sector originally utilized a higher level of automation. Cost overruns resulted from the fact that many robots were rendered superfluous or outdated as a result of changing product lines and consumer demand over time. An organization's operating expenditures may not always be reduced by replacing human personnel. Between US$3,000 and US$, 100,000 can be spent on a single collaborative robot system. Even more expensive, ranging from USD 15,000 to USD 150,000, is an industrial robotic system. Automation is an expensive investment for SMEs, particularly when they are involved in low-volume manufacturing, due to the cost of industrial robots, integration fees, and peripherals like end effectors and vision systems.
Interoperability and integration issues with industrial robots
Any factory or industrial facility must have interoperability. To link and synchronize disparate automation systems, a modular architecture must be included for both hardware and software. Here, programming, diagnosing, and monitoring software are the main topics. Industries frequently employ robot arms from various manufacturers. Companies could also need to reprogramme robots because of a shift in demand or production or to make room for new components like vision systems and end effectors. The integrator, not the manufacturer or the end-user, is in charge of deciding how to integrate, set up, or program the robot. Due to their particular requirements and staffing shortage, SMEs in particular face significant challenges with interoperability.
ROBOTICS MARKET REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 - 2030 |
|
Base Year |
2023 |
|
Forecast Period |
2024 - 2030 |
|
CAGR |
12.1% |
|
Segments Covered |
By Type, Industry and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regional Scope |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Key Companies Profiled |
ABB LTD. (ABB ROBOTICS), DAIHEN CORPORATION, DENSO CORPORATION (DENSO ROBOTICS), FANUC CORPORATION, KAWASAKI HEAVY INDUSTRIES LTD., KUKA ROBOTICS CORPORATION, MITSUBISHI ELECTRIC CORPORATION, NACHI-FUJIKOSHI CORPORATION (NACHI ROBOTIC SYSTEMS, INC.), PANASONIC CORPORATION, SEIKO EPSON CORPORATION, UNIVERSAL ROBOTS A/S, YASKAWA ELECTRIC CORPORATION |
This research report on the global industrial robots market has been segmented and sub-segmented based on, and Geography & region.
The market is divided into Traditional Industrial Robots and Collaborative Robots based on type. Since of its great adaptability in assembly, palletizing, welding, painting, and other processes, the Traditional Industrial Robots sub-segment of Articulated Robots retains a sizable market share. These systems are adaptable because they are not restricted to movement along the corresponding axis.
duties involving other robot systems. To stop or alter human actions to prevent accidents and injuries, players in the industry have linked these systems with sensors and cameras. These systems, which are relatively less expensive than conventional ones, work in conjunction with human workers to cut down on idle time and speed up operations that call for human involvement, helping the industrial robotics industry flourish.
Automotive, Electrical and Electronics, Plastics, Rubber, and Chemicals, Metals and Machinery, Food and Beverages, and Others are the market segments based on industry. Due to evolving developments, such as the creation of electric vehicles and energy-efficient drive systems, which are pushing people to replace their old cars with more contemporary ones, the automotive sector currently accounts for a sizable portion of the market.
Additionally, there is intense competition among market participants that are attempting to automate to satisfy customer demand. Companies in the industrial robot market are concentrating on other industries, such as pharmaceuticals, food, and beverages, where the quality and accuracy of raw materials/products play a crucial role in market growth.
The Industrial Robotics Market is divided into four regions based on geography: North America, Europe, Asia Pacific, and the Rest of the World. Due to growing labor costs in APAC, which force enterprises to automate their production processes to maintain a cost advantage, the Asia-Pacific region occupies a sizable portion of the market. Due to cheap production costs, easy access to economic labor, mild emissions, safety regulations, and government incentives for foreign direct investment (FDI), automation in APAC nations will soon increase, which will accelerate the global expansion of the industrial robotics industry.
Global Industrial Robots Market- By Companies
NOTABLE HAPPENINGS IN THE GLOBAL INDUSTRIAL ROBOTS MARKET IN THE RECENT PAST:
Global automotive lighting refers to all vehicle lighting systems, from headlamps that illuminate the road to taillights that communicate movements. They guarantee motorists and other road users alike safety, visibility, and style. While taillights frequently use LEDs for improved visibility, headlights are available in a variety of technologies, including LED and laser. Interior illumination, DRLs, and signal lights all have a role to play. This market, which was estimated to be worth $33.64 billion in 2022, is anticipated to rise to $67.39 billion by 2030 because of laws, luxury tastes, safety concerns, and technological developments like OLED taillights and adaptive headlights. Anticipate a future dominated by intelligent, connected, personalized, and sustainable lighting systems that enhance the safety, efficiency, and aesthetic appeal of automobiles.
Car lighting works its magic to provide safety, visibility, and style. Headlights cut through the night, taillights express intent, and interiors shine with comfort. The billion-dollar global business is expected to rise due to consumer demand for high-end experiences, safer roads, and cutting-edge technology. Imagine dynamic messages being painted by taillights, headlights that adjust to the road, and interiors that customize their atmosphere. Driven by technological advancements like linked systems and laser beams, this future is calling. Anticipate even more visually attractive, environmentally friendly, and intelligent lighting to illuminate the way ahead, making cars safer, more efficient, and unquestionably cooler.
In the market for automobile lighting, safety is the driving force behind demand from the public and laws. While automated high beams smoothly react to traffic, adaptive headlights modify their beams so as not to blind other people. With visually striking displays, dynamic taillights convey intentions for braking and turning. Beyond these developments, integrated pedestrian identification and lane departure alerts will soon make roads safer and brighter for everyone.
Luxurious automobile lighting creates a distinct visual identity that goes beyond simple illumination. Personalized interior lighting customizes the driving experience by setting the mood with a range of colours and intensities, while intricate designs and distinctive DRLs modify exteriors. As you approach your automobile at night, welcoming lights lead the way, resulting in an interior that is perfectly lit. Not only is this symphony of light aesthetically pleasing, but it also stands as a tribute to luxury. Upcoming developments like gesture-controlled lighting and holographic displays promise to further enhance the experience.
The worldwide automotive lighting market is undergoing a significant transition towards energy-efficient solutions, as environmental concerns gain prominence. LED technology is leading the way, providing a ray of hope for the environment and drivers alike. LED lights beam brighter and use a lot less energy than conventional halogen lamps. There are some tangible advantages to this. For drivers, this translates to increased fuel economy, which lowers petrol prices and lessens reliance on fossil fuels. Greater air quality and a reduction in the transport sector's contribution to climate change are the results of reduced overall emissions.
Although the global automotive lighting business is booming, there are still unknowns. Difficulties impede growth even as innovation propels it with eye catching features like laser beams and adaptable headlights. These technologies are luxury items due to their high cost and difficult integration, which puts producers' abilities to the test. The worldwide patchwork created by unclear legislation limits the potential of innovation. Durability issues persist, particularly when complex systems are subjected to challenging conditions. Ultimately, a lot of drivers still don't fully understand how these improvements can help them. Together, we can overcome these obstacles. The keys to reducing costs are improved production, more seamless integration, and unified regulations. Their full potential can be realized by educating customers about the safety, efficiency, and aesthetic value of these lighting wonders. By working together, we can pave the way for an even brighter and safer future for vehicle lighting.
It is made possible by advanced LED technology, which gives drivers the ability to customize their illumination for the highest level of comfort and flair. Consumers that care about the environment want greener products, and vehicle lighting complies. While solar- and self-powered lighting technologies offer a future powered by clean energy, energy-efficient LEDs lower pollution. The advent of connected lighting systems heralds a new age. Envision automobiles interacting with infrastructure and one another to minimize accidents and enhance traffic efficiency. Integrated headlights with pedestrian recognition provide unmatched safety, while dramatic taillights with eye-catching displays alert onlookers to your intentions. The possibilities are endless in the future. Gesture-controlled interior illumination, holographic displays projected onto the road, and even light fixtures with self-healing capabilities.
Due to laws requiring safety features like headlights, taillights, and brake lights, exterior lighting presently holds the most market share in the vehicle lighting industry. The dominance of this market is partly attributed to advancements in safety-focused technologies such as adaptive headlights and daytime running lights. The market value of external lighting is increased by the quick adoption of technology like LED bulbs and laser lights, which improve performance and aesthetics. Conversely, the interior lighting market is expected to increase at the fastest rate in the upcoming years. Innovations like ambient lighting and technology breakthroughs like LED and OLED displays, driven by consumer demand for comfort and personalisation, open new possibilities. The spread of sophisticated interior lighting systems is further driven by the growing emphasis on safety and the expansion of the luxury car market.
The worldwide vehicle lighting market is currently dominated by halogen because of its more affordable price, advanced technology, and useful illumination. With its dependable supply chain and affordable option for manufacturers and cost-conscious customers, halogen holds the biggest market share. The fastest-growing market right now is LEDs, which are predicted to shortly overtake halogen. The rapid expansion of LEDs is driven by their higher efficiency, longer lifespan, flexibility in design, and technological breakthroughs including enhanced brightness. Because LEDs use less energy and produce fewer emissions and better fuel economy, they are becoming more and more popular in the changing automotive lighting market.
Passenger automobiles rule the worldwide automotive lighting market. The sheer number of passenger cars produced which surpasses that of business vehicles and fuels the need for lighting systems is the primary cause of this popularity. The growing demand for personal automobiles in developing nations is a result of rising disposable income, which in turn drives the rise of the passenger car market. The importance that consumers place on safety and aesthetics elements helps to drive market expansion. But in the upcoming years, the market for electric and hybrid cars is expected to develop at the quickest rate. The exponential rise of the worldwide electric car market, which is still expanding and shows no signs of slowing down, is what is driving this surge. Specialised lighting solutions are required since electric and hybrid vehicles have different lighting requirements because of their specific functionality and design aesthetics.
Most lighting systems sold nowadays are sold by OEMs (Original Equipment Manufacturers), primarily because manufacturers pre-install lighting systems in new cars. But in the next years, the aftermarket is expected to develop at the quickest rate. This spike in demand for replacement parts, especially lighting systems, can be linked to several variables, one of them being the average age of cars. The industry is expanding because of consumers' growing desire to personalise their cars with aftermarket lighting upgrades such LED upgrades and decorative lighting. The availability and affordability of technologies like adaptive headlights and laser lights in the aftermarket, together with other advancements in lighting technology, are driving demand even more. Moreover, the growing market for electric cars (EVs).
Throughout the forecast period, Asia Pacific is anticipated to be the automotive lighting market with the highest profitability. Over the past few years, Asia Pacific countries like China and India have seen notable increases in automotive manufacturing and sales, primarily in the medium-to premium luxury car segment. Asia Pacific is predicted to see an increase in the manufacturing of passenger cars, with India experiencing the strongest growth rate. Depending on the state of the national economy, the area offers a suitable selection of both high-end and cheap cars. For instance, there is a substantial demand for halogen, Xenon/HID, and LED since China and India produce more economy and mid-range automobiles. On the other hand, luxury car adoption rates are greater in South Korea and Japan, where LED lighting is the norm.
A brief shadow was thrown by COVID-19 over the worldwide automotive lighting market. Production was stopped by lockdowns and supply chain disruptions, while luxury lighting upgrades were shelved by consumers on a tight budget. Resources became scarce, and R&D stagnated. Still, the market is recovering thanks to resurgent demand and rearranged priorities. While energy-efficient LEDs are being pushed towards adoption by sustainability, safety concerns are driving interest in features like pedestrian detection and adaptive headlights. The digital push of the epidemic creates opportunities for intelligent, networked lighting systems that may interact with infrastructure and other cars. Ultimately, the industry is positioned to shine brighter, focused on safety, sustainability, and a connected future, even though the pandemic dimmed its brilliance.
A development collaboration between OSRAM Continental and REHAU aims to incorporate lighting into external components, providing automobile manufacturers with innovative lighting options that improve functionality and design flexibility. For rear combination lamps, Hella unveiled a revolutionary lighting innovation called Hella FlatLight technology. A Memorandum of Understanding (MoU) was signed by Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a division of Motherson Group, and Marelli Automotive Lighting to investigate a technology collaboration focused on intelligently lighted external body components. Valeo debuted their revolutionary 360° lighting system at the Shanghai Auto Show. This technology surrounds the car with a band of light, projecting instantaneous, clear signs that other drivers can see from a distance. Pedestrians, cyclists, and scooter riders are especially susceptible to these signals
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