Rockville, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The market for factory robots is anticipated to reach US$ 12,369.3 million in 2023 and expand at a strong 7.6% CAGR from 2023 to 2033. A factory robot is a sort of mechanical device that receives input and autonomously completes duties connected to production in many industries.
According to usage and industrial requirements, these robots programmes can be modified as often as necessary. Factory robots aid in boosting production while cutting costs and providing high-quality goods for automation applications.
The demand for the installation of factory robots is being driven by the use of 3D printing in numerous industries, particularly the pharmaceutical industry. It is therefore projected that the market for manufacturing robots will expand rapidly over the forecast period as factory robot are turning to be more advanced in upcoming years.
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Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2032) | US$ 25,731.6 Million |
| Growth Rate (2022-2032) | 7.6% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 140 Tables |
| No. of Figures | 119 Figures |
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.
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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.
Segmentation of Factory Robot 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)
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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?
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global factory robot market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type, (articulated, SCARA, cartesian, parallel, cylindrical, others), payload (up to 16 kg, 16-60 kg, 60-225kg, more than 225kg), application (assembly, cutting, dispensing, inspection, material handling, packaging, painting, palletizing, welding), end use industry, (aerospace and defence, automotive, chemicals & materials, electrical & electronics, food and beverage, healthcare, mining & oil & gas, retail & e-commerce, logistics & warehousing, packaging, others) and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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