It is estimated that the factory robot market will reach US$ 12,369.3 million in 2023 and grow at a robust 7.6% CAGR from 2023 to 2033. A factory robot is a type of mechanical device that takes instructions and performs tasks related to production in a variety of industries.
These robots’ software can be changed as often as necessary to meet use and industrial requirements. Production is increased by factory robots while costs are reduced and high-quality products are provided for automation applications.
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Prominent Factory Robot Manufacturers
- ABB
- Comau
- Epson
- Fanuc
- FARobot, Inc.
- Kawasaki Robotics
- Kuka AG
- Mitsubishi Electric Corporation
- Staubli International AG
- Universal Robots
- Yaskawa
Competitive Landscape
In the factory robot market, some well-known players have embraced aggressive pricing tactics. The business has established beneficial alliances and partnerships with end-user industries and governments. Modern robots and their accessories are in high demand, which enables market participants to broaden their product lines. Market players are investing more money and resources in R&D while trying to increase their regional presence.
Fact.MR has provided detailed information about the price points of key manufacturers of factory robot positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Key Takeaways from Market Study
- The global factory robot market is projected to reach US$ 25,731.6 million by 2033.
- The market witnessed 5.2% CAGR between 2018 and 2022.
- 60-225 kg factory robot in payload segment dominates the market with 20.9% market share in 2023.
- Under application, material handling dominates the market and will valued at US$ 2,374.9 million in 2023.
- Based on region, demand for factory robot expected to increase at CAGR of 9.7% in South Asia & Oceania during the forecast period.
“Rising Demand for Advanced Technologies can Boosts the Factory Robot Market,” says a Fact.MR analyst.
Market Development
The industrial internet of things (IoT) and artificial intelligence (AI) are becoming more and more prevalent, especially in the manufacturing industries, and these trends are key drivers of the market’s revenue growth. The main drivers propelling the market expansion include the rising demand for factory robots from manufacturers for the automation of activities, improvement of worker safety, high total production output with reduced wastage, and expensive operational expenses.
Another factor anticipated to contribute to the market revenue growth is the increase in demand for electronic devices and the growing automation of high-precision, repeatable manufacturing processes. These elements can therefore aid in the expansion of the global factory robot market during the predicted term.
Industry Research
- By Type :
- Articulated
- SCARA
- Cartesian
- Parallel
- Cylindrical
- Others
- By Payload :
- Up to 16 kg
- 16-60 kg
- 60-225kg
- More than 225kg
- By Application :
- Assembly
- Cutting
- Dispensing
- Inspection
- Material handling
- Packaging
- Painting
- Palletizing
- Welding
- By End Use Industry :
- Aerospace and Defense
- Automotive
- Chemicals & Materials
- Electrical & Electronics
- Food and Beverage
- Healthcare
- Mining & Oil & Gas
- Retail & e-Commerce
- Logistics & Warehousing
- Packaging
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East and Africa (MEA)
Key Questions Covered in the Factory robot market Report
- What is the projected value of the Factory robot market in 2023?
- At what rate will the global Factory robot market grow until 2033?
- Which are the factors hampering the growth in the Factory robot market?
- Which region is expected to lead in the global Factory robot market during 2023 to 2033?
- Which are the factors driving the Factory robot market during the forecast period?
- What is the expected market value of the Factory robot market during the forecast period?
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