An Army of New Robots Swarm Supplier News

From collaborative robots for metal fabrication to an open-robotics platform, let’s see what’s new in robotics.

Rob Spiegel

June 6, 2024

5 Slides

At a Glance

  • The global industrial robot market will grow 3.7% per year between 2024 and 2028.
  • The top three most common robot applications are material handling, welding, and assembly.
  • Robots sales in automotive showed sluggish growth.

As well as revealing robot introductions in the slideshow, we’ve also found breaking data on the robot market from Interact Analysis.

Over 500,000 Industrial Robots Shipped in 2023

According to the Industrial Robots – 2024 report from Interact Analysis, overall global industrial robot shipment volumes exceeded 500,000 units in 2023. This was a similar level to that seen in 2022 but the average price of industrial robots decreased last year. After a record high in 2021, 2023 reached a low point in terms of revenues and shipments but the long-term forecast remains positive. The global industrial robot market is expected to grow on average, by 3.7% per year between 2024 and 2028.

Highlights of the research include:

  • Industrial robot market long term growth forecast remains positive, with 3.7% average annual growth expected between 2024 and 2028.

  • Sales of industrial robots to the automotive segment faced significant pressure in 2023 resulting in sluggish growth, particularly in the Americas.

  •  robot market growth trajectory in line with global manufacturing output figures.

Market-Forecast-1.jpg

The Market by Industry and Region

Taking a look at the market by industry and region, sales of industrial robots to the automotive industry in the Americas faced significant pressure in 2023, resulting in sluggish growth for this segment of the market – one of the largest downstream industries for industrial robots in the region. Mexico in particular has high dependence on the automotive industry, therefore creating a greater impact on industrial robot sales in the region. On the whole, growth of industrial robots in the Americas plummeted by 17.3% in 2023; compared with APAC, which saw a slight increase in growth, and EMEA, which remained stable.

The American markets accounted for around 17% of global industrial robot revenues compared to 62% for APAC and 22% for EMEA. The industrial robot market enjoyed strong growth in the Americas during the immediate post-COVID period in both the automotive and non-automotive industries, where manufacturers were continually looking for ways to improve their production processes and reduce manufacturing costs by adopting the technology.

Top 3 Applications Are Material Handling, Welding, and Assembly

The top three most common applications – material handling, welding, and assembly – accounted for over 70% of industrial robot market revenues in 2023, with material handling accounting for one third on its own. This common application is particularly dominant in the Americas and Europe. The American market has the highest market concentration globally, where the top 5 suppliers shared nearly 80% of revenues and over 2/3 of unit shipments.

Read more about:

Supplier News

About the Author(s)

Rob Spiegel

Rob Spiegel serves as a senior editor for Design News. He started with Design News in 2002 as a freelancer and hired on full-time in 2011. He covers automation, manufacturing, 3D printing, robotics, AI, and more.

Prior to Design News, he worked as a senior editor for Electronic News and Ecommerce Business. He has contributed to a wide range of industrial technology publications, including Automation World, Supply Chain Management Review, and Logistics Management. He is the author of six books.

Before covering technology, Rob spent 10 years as publisher and owner of Chile Pepper Magazine, a national consumer food publication.

As well as writing for Design News, Rob also participates in IME shows, webinars, and ebooks.

Sign up for the Design News Daily newsletter.

You May Also Like