Articulated Robots Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Articulated Robots market in 2021?

The global articulated robots market had a market size of USD 9.58 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 11.3%. The market size is expected to reach USD 20.16 billion by 2028. The increasing demand for automation in industries such as automotive, electronics, and healthcare is driving the growth of the articulated robots market.

COVID-19 Impact on the Articulated Robots Market

The COVID-19 pandemic had a significant impact on the articulated robots market. Due to lockdowns and restrictions on movement, many industries faced disruptions in their operations, leading to a temporary slowdown in the demand for articulated robots. However, as industries started adopting automation to ensure social distancing and maintain productivity, the demand for articulated robots increased in sectors such as e-commerce, logistics, and food & beverage.

Articulated Robots Dynamics

The articulated robots market is driven by factors such as increasing labor costs, the need for high precision in manufacturing processes, and the rising demand for automation in various industries. Advancements in technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) have also contributed to the growth of the articulated robots market. However, factors such as high initial investment costs and the lack of skilled workforce to operate articulated robots act as restraints to market growth.

Segments and Related Analysis

The articulated robots market is segmented based on payload capacity, industry vertical, and application. By payload capacity, the market is segmented into low, medium, and high payload capacity robots. In terms of industry vertical, the market is segmented into automotive, electronics, healthcare, and others. Based on application, the market is segmented into welding, painting, assembly, and material handling.

By Region Analysis

The articulated robots market is analyzed based on regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2021, followed by Asia Pacific. The presence of key players, technological advancements, and the adoption of automation in various industries contribute to the growth of the articulated robots market in these regions.

Key Market Players and Competitive Landscape

Key players in the articulated robots market include ABB Ltd., Fanuc Corporation, Yaskawa Electric Corporation, KUKA AG, and Kawasaki Heavy Industries, Ltd. These companies focus on product innovation, partnerships, and acquisitions to gain a competitive edge in the market. The competitive landscape of the articulated robots market is characterized by intense competition and the presence of well-established players.

Recent Happenings in the Articulated Robots Market

In recent developments, ABB Ltd. introduced a new series of articulated robots with enhanced speed and precision for industrial applications. Fanuc Corporation announced a collaboration with a leading automotive manufacturer to deploy articulated robots in its production facilities. Yaskawa Electric Corporation launched a new line of collaborative articulated robots for small and medium enterprises. These developments highlight the growing demand for articulated robots across various industries and the efforts of key players to meet this demand.