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The commercial robotic market is anticipated to develop by ~3.7% per 12 months between 2024 and 2028. | Supply: Work together Evaluation
General international industrial robotic cargo volumes exceeded 500,000 items in 2023, Work together Evaluation stories. The worldwide market analysis agency says the trade is beginning to bounce again from a 2023 low level.
Industrial robotic shipments are much like ranges seen in 2022, though the typical worth of business robots decreased final 12 months. The market noticed document highs in 2021, and lows in revenues and shipments in 2023.
“The typical worth per unit of an industrial robotic is on a downward trajectory, following an increase for 2 consecutive years, and we count on a worth decline of round 3% per 12 months between 2024 and 2028. The COVID-19 pandemic coupled with excessive vitality costs and inflation induced a median worth enhance in 2022,” Maya Xiao, analysis supervisor at Work together Evaluation, stated. “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 “worth impact” was additionally partially because of the market development in the direction of heavy payload robots, that are materially a dearer product.”
In the long run, nevertheless, the outlook stays constructive. Work together Evaluation expects the worldwide industrial robotic market to develop on common by 3.7% per 12 months between 2024 and 2028.
Breaking down the trade by area
Breaking down the trade by area, gross sales of business robots to the automotive trade within the Americas confronted important strain in 2023. This resulted in sluggish progress for this phase of the market, one of many largest downstream industries for industrial robots within the area.
In line with Work together Evaluation, Mexico, particularly, is extremely depending on the automotive trade, making a larger impression on industrial robotic gross sales within the area. Progress of business robots within the Americas dropped by 17.3% in 2023. Compared, APAC noticed a slight enhance in progress, and EMEA remained steady.
The American markets accounted for round 17% of world industrial robotic revenues, in comparison with 62% for APAC and 22% for EMEA. Within the Americas, the commercial robotic market noticed sturdy progress instantly post-COVID in each the automotive and non-automotive industries. It is because these producers have been frequently in search of methods to enhance their manufacturing processes and scale back manufacturing prices by adopting the expertise.
3 widespread purposes for industrial robots
The highest three most typical purposes for industrial robots are materials dealing with, welding, and meeting, in accordance with Work together Evaluation. These accounted for over 70% of business robotic market revenues in 2023, with materials dealing with accounting for one-third by itself.
This utility is especially dominant within the Americas and Europe. The American market has the very best market focus globally, the place the highest 5 suppliers share almost 80% of revenues and over two-thirds of unit shipments.
“You will need to word that our robotics forecasts are underpinned by the Work together Evaluation Manufacturing Business Output (MIO) Tracker,” Xiao stated. “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 have now noticed in recent times.”
In line with the Affiliation for Advancing Automation (A3), robotic gross sales proceed to be sluggish in North America. A3 stated robotic gross sales in North America have been down 6% within the first quarter of 2024 in comparison with the identical interval in 2023. Firms bought 8,582 robots from January by March for a complete of $494 million, A3 stated.
