• Industrial robotic market long run progress forecast stays optimistic, with 3.7% common annual progress anticipated between 2024 and 2028.
• Gross sales of commercial robots to the automotive section confronted vital strain in 2023 leading to sluggish progress, significantly within the Americas.
• Industrial robotic market progress trajectory in keeping with world manufacturing output figures.
London, sixth June 2024 – General world industrial robotic cargo volumes exceeded 500,000 items in 2023, in keeping with world market analysis agency Work together Evaluation. This was an identical stage to that seen in 2022 however the common value of commercial robots decreased final yr. After a document excessive in 2021, 2023 reached a low level by way of revenues and shipments however the long-term forecast stays optimistic. The worldwide industrial robotic market is anticipated to develop on common, by 3.7% per yr between 2024 and 2028.
Looking on the market by trade and area, gross sales of commercial robots to the automotive trade within the Americas confronted vital strain in 2023, leading to sluggish progress for this section of the market – one of many largest downstream industries for industrial robots within the area. Mexico specifically has excessive dependence on the automotive trade, due to this fact making a larger impression on industrial robotic gross sales within the area. On the entire, progress of commercial robots within the Americas plummeted by 17.3% in 2023; in contrast with APAC, which noticed a slight enhance in progress, and EMEA, which remained steady.
The American markets accounted for round 17% of worldwide industrial robotic revenues in comparison with 62% for APAC and 22% for EMEA. The commercial robotic market loved robust progress within the Americas throughout the rapid post-COVID interval in each the automotive and non-automotive industries, the place producers had been frequently in search of methods to enhance their manufacturing processes and cut back manufacturing prices by adopting the know-how.
Prime 3 functions: Materials dealing with, welding and meeting The highest three most typical functions – materials dealing with, welding and meeting – accounted for over 70% of commercial robotic market revenues in 2023, with materials dealing with accounting for one third by itself. This frequent software is especially dominant within the Americas and Europe. The American market has the best market focus globally, the place the highest 5 suppliers shared almost 80% of revenues and over 2/3 of unit shipments.
Maya Xiao, Analysis Supervisor at Work together Evaluation feedback, “The typical value per unit of an industrial robotic is on a downward trajectory, following an increase for 2 consecutive years, and we anticipate a value decline of round 3% per yr between 2024 and 2028. The COVID-19 pandemic coupled with excessive vitality costs and inflation induced a mean value enhance in 2022. We initially anticipated robotic costs to lower once more in 2023, however ongoing provide chain and inflation points resulted in costs creeping as much as ranges near these seen in 2022. This elevated “value impact” was additionally partially as a result of market development in the direction of heavy payload robots, that are materially a dearer product.
“You will need to notice that our robotics forecasts are underpinned by the Work together Evaluation Manufacturing Business Output (MIO) Tracker. We are able to see from our knowledge that the expansion profile for industrial robots displays the manufacturing slowdown throughout the pandemic period and the following downturn in 2023. If we check out the manufacturing output figures for China, Europe and the Americas, the historic manufacturing contractions are synonymous with the decline in progress for the commercial robotic market that we now have noticed lately.”
Concerning the Report: The sixth version of our Industrial Robots report offering perception and evaluation into the market. This consists of market dimension and forecast knowledge for industrial robots with detailed segmentations in each income and cargo phrases, five-year forecasts to 2028, and key development and market driver dialogue and evaluation offered by robotic sort, payload, trade and software. As well as, this version additionally offers provider market shares and rankings of main industrial robotic corporations in 2023, with an evaluation of the aggressive panorama. The Premium model of the report offers tertiary stage evaluation which fashions demand for industrial robots by nation.
About Work together Evaluation
With over 200 years of mixed expertise, Work together Evaluation is the market intelligence authority for world provide chain automation. Our analysis covers the complete automation worth chain – from the know-how used to automate manufacturing unit manufacturing, by way of stock storage and distribution channels, to the transportation of the completed items. The world’s main corporations belief us to floor strong insights and alternatives for technology-driven progress. To be taught extra, go to www.InteractAnalysis.com