Revolutionizing Robotics: Exploring the Explosive Growth of the Articulated Robot Market to Reach $31.89 Billion by 2033
Overview and Scope
The articulated robot refers to a robot that has rotational joints and up to 10 or more axes. The rotary joints enable a full range of motion and significantly expand the robot's capabilities, as they can rotate over many planes. The accuracy and movement pattern nearly resemble a human arm.
Sizing and Forecast
The articulated robot market size has grown rapidly in recent years. It will grow from $15.69 billion in 2023 to $18.26 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to manufacturing sector growth, automotive industry adoption, rise of electronics and semiconductors, focus on efficiency, medical and healthcare applications..
The articulated robot market size is expected to see rapid growth in the next few years. It will grow to $31.89 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to regulatory support and safety standards, smart factory growth , automotive industry evolution , energy efficiency and sustainability, smes embracing robotics.
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Segmentation & Regional Insights
The articulated robot market covered in this report is segmented –
1) By Type: 4-Axis Or Less, 5-Axis, 6-Axis Or More
2) By Payload: Upto 16 Kg, 16 To 60 Kg, 60 To 225 Kg, More Than 225 Kg
3) By Function: Handling, Welding, Dispensing, Assembly, Processing, Other Functions
4) By Component: Controller, Arm, End Effector, Drive, Sensor, Other Components
5) By End Industry: Automotive, Electrical And Electronics, Chemicals, Rubber And Plastics, Metal And Machinery, Food And Beverages, Precision Engineering And Optics, Pharmaceuticals And Cosmetics, Other End-Users
Asia-Pacific was the largest region in the articulated robots market share in 2023. The regions covered in the articulated robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for industrial robots is expected to propel the growth of the articulated robots market. Industrial robots are mechanical systems or machines programmed to perform production-related activities autonomously in industrial settings. Articulated robots are industrial robots with a human resemblance and are used in various industrial applications.
Key Industry Players
Major companies operating in the articulated robot market report are ABB Ltd., FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG, Omron Adept Technology Inc., Mitsubishi Electric Corporation, Seiko Epson Corporation, Denso Wave Incorporated, Nachi-Fujikoshi Corp., Yaskawa Electric Corporation, Aurotek Corporation, Stubli International, ST Robotics, Toshiba Machine Co. Ltd.
The articulated robot market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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