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The commercial robotic market is predicted to develop by ~3.7% per yr between 2024 and 2028. | Supply: Work together Evaluation
General international industrial robotic cargo volumes exceeded 500,000 items in 2023, Work together Evaluation reviews. The worldwide market analysis agency says the trade is beginning to bounce again from a 2023 low level.
Industrial robotic shipments are just like ranges seen in 2022, though the common value of commercial robots decreased final yr. The market noticed file highs in 2021, and lows in revenues and shipments in 2023.
“The common value per unit of an industrial robotic is on a downward trajectory, following an increase for 2 consecutive years, and we count on a value decline of round 3% per yr between 2024 and 2028. The COVID-19 pandemic coupled with excessive vitality costs and inflation brought about a median value improve in 2022,” Maya Xiao, analysis supervisor at Work together Evaluation, mentioned. “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 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 yr between 2024 and 2028.
Breaking down the trade by area
Breaking down the trade by area, gross sales of commercial robots to the automotive trade within the Americas confronted important stress in 2023. This resulted in gradual development for this phase of the market, one of many largest downstream industries for industrial robots within the area.
In keeping with Work together Evaluation, Mexico, specifically, is very depending on the automotive trade, making a higher affect on industrial robotic gross sales within the area. Progress of commercial robots within the Americas dropped by 17.3% in 2023. As compared, APAC noticed a slight improve in development, 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 robust development instantly post-COVID in each the automotive and non-automotive industries. It is because these producers have been frequently on the lookout for methods to enhance their manufacturing processes and cut back manufacturing prices by adopting the expertise.
3 widespread functions for industrial robots
The highest three most typical functions for industrial robots are materials dealing with, welding, and meeting, in line with Work together Evaluation. These accounted for over 70% of commercial robotic market revenues in 2023, with materials dealing with accounting for one-third by itself.
This software is especially dominant within the Americas and Europe. The American market has the best market focus globally, the place the highest 5 suppliers share practically 80% of revenues and over two-thirds of unit shipments.
“It is very important be aware that our robotics forecasts are underpinned by the Work together Evaluation Manufacturing Trade Output (MIO) Tracker,” Xiao mentioned. “We will see from our knowledge that the expansion profile for industrial robots displays the manufacturing slowdown through the pandemic period and the next 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 development for the commercial robotic market that we now have noticed in recent times.”
In keeping with the Affiliation for Advancing Automation (A3), robotic gross sales proceed to be gradual in North America. A3 mentioned 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 way of March for a complete of $494 million, A3 mentioned.
