Industrial Robot Components Market
Industrial Robot Components Market Analysis, By Component (Controller, Sensor, Robot Arm, End Effector, Drive), By Application, and Region - Global Market Insights 2023 to 2033
Analysis of Industrial Robot Components Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Industrial Robot Components Market Growth Outlook
The global industrial robot components market is anticipated to be valued at US$ 6.3 billion in 2023 and it is anticipated to grow at a CAGR of 13.9% to reach US$ 23.2 billion by the end of 2033.
Components, sensors, robot arms, end effectors, and drives are some of the most essential components in the manufacturing of industrial robots. With the flourishing industrial robots market, industrial robot components witness increased sales.
| Report Attributes | Details |
|---|---|
| Estimated Market Value (2023E) | US$ 6.3 Billion |
| Forecasted Market Value (2033F) | US$ 23.2 Billion |
| Global Market Growth Rate (2023 to 2033) | ~13.9% CAGR |
| North America Market Share (2023) | ~26.4% |
| East Asia Market Growth Rate (2023 to 2033) | ~16.0% CAGR |
| Europe Market Growth Rate (2023 to 2033) | ~13.6% CAGR |
| Key Companies Profiled | FANUC; Denso Corporation; Kuka; Mitsubishi Electric; ABB |
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Historic and Future Path for Industrial Robot Components Market
With the advancing technology and growing use of industrial robots in enhancing production output. The demand for industrial robot components is set to increase during the forecast period. Articulated robots are witnessing high demand and their production is estimated to increase over the period, which offers a plethora of opportunities to the industrial robot components market.
- Growth Factors for Short Term (2023 to 2026): Surging demand for industrial robots from various end-use verticals to create ample growth opportunities for the industrial robot components market.
- Factors for Medium-Term Growth (2026 to 2029): Growing government investment in enhancing the domestic manufacturing industry especially across India and China, to spur the growth outlook for industrial robot components manufacturers.
- Long-Term Growth Opportunities (2029 to 2033): Initiatives by market players to curve the demand pool and gain high-profit margins are anticipated to drive the market in a long run.
Over the 2018 to 2022 historical period, the global industrial robot component market registered a CAGR of 12.5%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 13.9% CAGR between 2023 and 2033.
Market share analysis of industrial robot components based on application and region is provided in a nutshell in the above image. Under the application segment, the robot arm/manipulator sub-segment dominates with a 29.1% market share in 2023.
“Growing Industrial Robots Demand to Supplement the Sales of Industrial Robot Components”
The growing demand for industrial robots drives the industrial robot components market. Industrial robot demand is predicted to transform manufacturing in the forthcoming years. As industrial robots become cheaper, faster, and smarter, they will perform evermore tasks.
Industrial robots are bridging the gap between man and machine by inching closer to the former with abilities such as memory, trainability, dexterity, and sensing. Therefore, industrial robots are being utilized in inspecting or testing products, assembly lines, or picking and packaging.
The ‘collaborative’ robots that have begun to enter the industrial robots market have rung in a new era as they work hand-in-hand with laborers who train them on the job. If the capabilities of industrial robots continue to rise at the present pace with a corresponding decline in prices, small and midsized firms may well join the industrial robot bandwagon.
Owing to such factors the demand for industrial robots is anticipated to be lucrative. Further, to meet the growing demand for industrial robots the manufacturers requires components that in turn, increase the sales of the industrial robot components.
“Fluctuating Raw Material Cost a Challenge to Sales Growth”
Industrial robot components include a sensor, end effector, drive, and others that require semiconductors for their production. However, China and Taiwan are the two major suppliers of semiconductor and robot components, and ongoing Taiwan and China political stress coupled with COVID-19 induced lockdowns and halted manufacturing processes to hamper the growth of industrial robot components.
As with the ongoing crisis, the demand and supply gap is generated, and disrupted supply chains also widen the gap, which resulted in high demand short supply and high cost, on the back of high cost the components parts also hike and growing inflation rates restrains the pullulating growth of the market.
Country-wise Insights
Why the Demand for Industrial Robot Components is Growing across the US?
The United States industrial robot component market is expected to expand at a CAGR of 13.3% over the projected period. With the surging installation of industrial robots across the Americas especially in the US, the demand for industrial robots increases.
- For instance, in the Americas, the count of installed industrial robots reached over fifty-five thousand in 2021, 31% up from 2020. It is a notable growth from the pandemic dip in 2020. Further, it is for the second time in the Americas that robot installations have exceeded the 50,000-unit threshold, with 55,212 units in 2018.
- Additionally, new installations increased by 14% to 34,987 units in the US in 2021. This was higher than the pre-pandemic 2019 level of 33,378 units. Also, with 9,782 units installed in 2021, the automotive industry will continue to be the biggest adopter.
- In addition, the demand for robots in the metal and machinery sector increased by 66% to 3,814 units in 2021, accounting for the second position in the market.
- Similarly, 3,466 new robots (an increase of 30%) were installed in the plastic and chemical products sector in 2021 in the US. The number of robots in the food and beverage sector increased by 25%, reaching a new peak of 3,402 units in 2021.
Hence, in order to meet the flourishing industrial robots demand components are required for the production of the robot, this, in turn, propels the sales of the industrial robot components.
How Chinese Market is Lucrative for the Industrial Robot Components Market?
The Asian market is the most prominent consumer market for industrial robots in terms of growth across the globe.
- In 2021, the installation of the newly deployed robots reach 74% an increase of 4% in the installation of industrial robots as compared to 2020 which was 70% of industrial robots installation in Asia.
- In addition, Asia's major market for industrial robots is China. China witnessed a significant growth of industrial robots by 51%, with 268,195 units shipped. China deploy every other robot that will be installed globally in 2021. The operational stock increased by 27% to surpass 1 million units.
This rapid growth rate reflects how rapidly China is becoming a robot nation. The growing industrial robot market in China paves the way for the growth of industrial robot components manufacturers.
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Category-wise Insights
How Components Will Perform in the Industrial Robot Component Market?
Controllers and sensors are the most essential component in the manufacturing of various types of robots. The controller is just like a computer that is connected to a robot and acts as its brain. All industrial robots must need a controller in order to perform well. The controller is used to instruct the robot on how to perform throughout the process, it is commonly referred to as the program.
Further, the robot uses sensors to assess its operating environment and can modify its actions in response to the information it gathers. Sensors are the senses of a robot.
Controller and sensor will grow at a CAGR of 13.8% and 13.3% respectively in the forecast period.
Which Application is likely to Dominate the Industrial Robot Components Market?
The articulated robot has the largest industrial robot component market share in terms of application. Articulated robots are widely used due to their capability to execute identical motions continually, which are required in applications like assembly, material handling, and others. The use of articulated robots in pharmaceuticals, autos, and food and beverage, is thrusting the demand for articulated robots, and their manufacturing demand for industrial robot components is mushrooming.
Articulated robot to account for a market share of 29.1% in 2023, with a valuation of US$ 1.8 billion in 2023, and reach a valuation of US$ 6.8 billion by the end of 2033. The anticipated growth of articulated robots in industrial robot components is 14.0% during the forecast period.
Market Titans Key Strategies
Prominent industrial robot components manufacturers are FANUC, Denso Corporation, Kuka, Mitsubishi Electrical, ABB, Yaskawa, and Kawasaki Heavy Industries.
Market titans are focusing on delivering quality and durable components which in turn create a network of loyal customers and enhance brand recognition. Customization options offer immense revenue growth opportunities to the manufacturers in a long run.
Further, by establishing long-term trade relations with the end-users directly to drive the demand for industrial robot components in forthcoming years and enable market players to gain high-profit margins.
Fact.MR has provided detailed information about the price points of key manufacturers of industrial robot components positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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Segmentation of Industrial Robot Components Industry Research
-
By Component:
- Controller
- Sensor
- Robot Arm/Manipulator
- End Effector
- Drive
- Feedback Devices
-
By Application:
- Cartesian Robots
- Scara Robots
- Articulated Robots
- Cylindrical Robots
- Delta Robots
- Polar Robots
- Collaborative Robots
-
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Demand (Units) Analysis and Forecast
- 5. Global Market - Pricing Analysis
- 6. Global Market Value (US$ million) Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Component
- 7.1. Controller
- 7.2. Sensor
- 7.3. Robot Arm/Manipulator
- 7.4. End Effector
- 7.5. Drive
- 7.6. Feedback Devices
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Cartesian Robots
- 8.2. Scara Robots
- 8.3. Articulated Robots
- 8.4. Cylindrical Robots
- 8.5. Delta Robots
- 8.6. Polar Robots
- 8.7. Collaborative Robots
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Europe
- 9.4. East Asia
- 9.5. South Asia & Oceania
- 9.6. Middle East & Africa
- 10. North America Market Analysis and Forecast
- 11. Latin America Market Analysis and Forecast
- 12. Europe Market Analysis and Forecast
- 13. East Asia Market Analysis and Forecast
- 14. South Asia & Oceania Market Analysis and Forecast
- 15. Middle East & Africa Market Analysis and Forecast
- 16. Country-Level Market Analysis and Forecast
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. FANUC
- 18.2. Denso Corporation
- 18.3. Kuka
- 18.4. Mitsubhishi Electric
- 18.5. ABB
- 18.6. Yaskawa
- 18.7. Kawasaki Heavy Industries
- 18.8. Other Prominent Players
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ million), By Region, 2018 to 2022
Table 2: Global Market Value (US$ million), By Region, 2023 to 2033
Table 3: Global By Region, 2018 to 2022
Table 4: Global Market Volume (Units), By Region, 2023 to 2033
Table 5: Global Market Value (US$ million), By Component, 2018 to 2022
Table 6: Global Market Value (US$ million), By Component, 2023 to 2033
Table 7: Global Market Volume (Units), By Component, 2018 to 2022
Table 8: Global Market Volume (Units), By Component, 2023 to 2033
Table 9: Global Market Value (US$ million), By Application, 2018 to 2022
Table 10: Global Market Value (US$ million), By Application, 2023 to 2033
Table 11: Global Market Volume (Units), By Application, 2018 to 2022
Table 12: Global Market Volume (Units), By Application, 2023 to 2033
Table 13: North America Market Value (US$ million), By Country, 2018 to 2022
Table 14: North America Market Value (US$ million), By Country, 2023 to 2033
Table 15: North America Market Volume (Units), By Country, 2018 to 2022
Table 16: North America Market Volume (Units), By Country, 2023 to 2033
Table 17: North America Market Value (US$ million), By Component, 2018 to 2022
Table 18: North America Market Value (US$ million), By Component, 2023 to 2033
Table 19: North America Market Volume (Units), By Component, 2018 to 2022
Table 20: North America Market Volume (Units), By Component, 2023 to 2033
Table 21: North America Market Value (US$ million), By Application, 2018 to 2022
Table 22: North America Market Value (US$ million), By Application, 2023 to 2033
Table 23: North America Market Volume (Units), By Application, 2018 to 2022
Table 24: North America Market Volume (Units), By Application, 2023 to 2033
Table 25: Latin America Market Value (US$ million), By Country, 2018 to 2022
Table 26: Latin America Market Value (US$ million), By Country, 2023 to 2033
Table 27: Latin America Market Volume (Units), By Country, 2018 to 2022
Table 28: Latin America Market Volume (Units), By Country, 2023 to 2033
Table 29: Latin America Market Value (US$ million), By Component, 2018 to 2022
Table 30: Latin America Market Value (US$ million), By Component, 2023 to 2033
Table 31: Latin America Market Volume (Units), By Component, 2018 to 2022
Table 32: Latin America Market Volume (Units), By Component, 2023 to 2033
Table 33: Latin America Market Value (US$ million), By Application, 2018 to 2022
Table 34: Latin America Market Value (US$ million), By Application, 2023 to 2033
Table 35: Latin America Market Volume (Units), By Application, 2018 to 2022
Table 36: Latin America Market Volume (Units), By Application, 2023 to 2033
Table 37: Europe Market Value (US$ million), By Country, 2018 to 2022
Table 38: Europe Market Value (US$ million), By Country, 2023 to 2033
Table 39: Europe Market Volume (Units), By Country, 2018 to 2022
Table 40: Europe Market Volume (Units), By Country, 2023 to 2033
Table 41: Europe Market Value (US$ million), By Component, 2018 to 2022
Table 42: Europe Market Value (US$ million), By Component, 2023 to 2033
Table 43: Europe Market Volume (Units), By Component, 2018 to 2022
Table 44: Europe Market Volume (Units), By Component, 2023 to 2033
Table 45: Europe Market Value (US$ million), By Application, 2018 to 2022
Table 46: Europe Market Value (US$ million), By Application, 2023 to 2033
Table 47: Europe Market Volume (Units), By Application, 2018 to 2022
Table 48: Europe Market Volume (Units), By Application, 2023 to 2033
Table 49: East Asia Market Value (US$ million), By Country, 2018 to 2022
Table 50: East Asia Market Value (US$ million), By Country, 2023 to 2033
Table 51: East Asia Market Volume (Units), By Country, 2018 to 2022
Table 52: East Asia Market Volume (Units), By Country, 2023 to 2033
Table 53: East Asia Market Value (US$ million), By Component, 2018 to 2022
Table 54: East Asia Market Value (US$ million), By Component, 2023 to 2033
Table 55: East Asia Market Volume (Units), By Component, 2018 to 2022
Table 56: East Asia Market Volume (Units), By Component, 2023 to 2033
Table 57: East Asia Market Value (US$ million), By Application, 2018 to 2022
Table 58: East Asia Market Value (US$ million), By Application, 2023 to 2033
Table 59: East Asia Market Volume (Units), By Application, 2018 to 2022
Table 60: East Asia Market Volume (Units), By Application, 2023 to 2033
Table 61: South Asia & Oceania Market Value (US$ million), By Country, 2018 to 2022
Table 62: South Asia & Oceania Market Value (US$ million), By Country, 2023 to 2033
Table 63: South Asia & Oceania Market Volume (Units), By Country, 2018 to 2022
Table 64: South Asia & Oceania Market Volume (Units), By Country, 2023 to 2033
Table 65: South Asia & Oceania Market Value (US$ million), By Component, 2018 to 2022
Table 66: South Asia & Oceania Market Value (US$ million), By Component, 2023 to 2033
Table 67: South Asia & Oceania Market Volume (Units), By Component, 2018 to 2022
Table 68: South Asia & Oceania Market Volume (Units), By Component, 2023 to 2033
Table 69: South Asia & Oceania Market Value (US$ million), By Application, 2018 to 2022
Table 70: South Asia & Oceania Market Value (US$ million), By Application, 2023 to 2033
Table 71: South Asia & Oceania Market Volume (Units), By Application, 2018 to 2022
Table 72: South Asia & Oceania Market Volume (Units), By Application, 2023 to 2033
Table 73: MEA Market Value (US$ million), By Country, 2018 to 2022
Table 74: MEA Market Value (US$ million), By Country, 2023 to 2033
Table 75: MEA Market Volume (Units), By Country, 2018 to 2022
Table 76: MEA Market Volume (Units), By Country, 2023 to 2033
Table 77: MEA Market Value (US$ million), By Component, 2018 to 2022
Table 78: MEA Market Value (US$ million), By Component, 2023 to 2033
Table 79: MEA Market Volume (Units), By Component, 2018 to 2022
Table 80: MEA Market Volume (Units), By Component, 2023 to 2033
Table 81: MEA Market Value (US$ million), By Application, 2018 to 2022
Table 82: MEA Market Value (US$ million), By Application, 2023 to 2033
Table 83: MEA Market Volume (Units), By Application, 2018 to 2022
Table 84: MEA Market Volume (Units), By Application, 2023 to 2033
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List Of Figures
Figure 1: Global Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 2: Global Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 3: Global Market Value (US$ million) and Volume (Units) By Region, 2023 & 2033
Figure 4: Global Market Y-o-Y Growth Rate By Region, 2023 to 2033
Figure 5: Global Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 6: Global Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 7: Global Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 8: Global Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 9: North America Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 10: North America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 11: North America Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 12: North America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 13: North America Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 14: North America Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 15: North America Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 17: North America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 18: North America Market Attractiveness Analysis By Component, 2023 to 2033
Figure 19: North America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 20: Latin America Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 21: Latin America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 22: Latin America Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 23: Latin America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 24: Latin America Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 25: Latin America Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 26: Latin America Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 27: Latin America Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 28: Latin America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 29: Latin America Market Attractiveness Analysis By Component, 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 31: Europe Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 32: Europe Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 33: Europe Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 34: Europe Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 35: Europe Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 36: Europe Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 37: Europe Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 38: Europe Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis By Country, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis By Component, 2023 to 2033
Figure 41: Europe Market Attractiveness Analysis By Application, 2023 to 2033
Figure 42: East Asia Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 43: East Asia Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 44: East Asia Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 45: East Asia Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 46: East Asia Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 47: East Asia Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 48: East Asia Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 49: East Asia Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 50: East Asia Market Attractiveness Analysis By Country, 2023 to 2033
Figure 51: East Asia Market Attractiveness Analysis By Component, 2023 to 2033
Figure 52: East Asia Market Attractiveness Analysis By Application, 2023 to 2033
Figure 53: South Asia & Oceania Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 54: South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 55: South Asia & Oceania Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 56: South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 57: South Asia & Oceania Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 58: South Asia & Oceania Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 59: South Asia & Oceania Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 60: South Asia & Oceania Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 61: South Asia & Oceania Market Attractiveness Analysis By Country, 2023 to 2033
Figure 62: South Asia & Oceania Market Attractiveness Analysis By Component, 2023 to 2033
Figure 63: South Asia & Oceania Market Attractiveness Analysis By Application, 2023 to 2033
Figure 64: MEA Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 65: MEA Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 66: MEA Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 67: MEA Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 68: MEA Market Value (US$ million) and Volume (Units) By Component, 2023 & 2033
Figure 69: MEA Market Y-o-Y Growth Rate By Component, 2023 to 2033
Figure 70: MEA Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 71: MEA Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 72: MEA Market Attractiveness Analysis By Country, 2023 to 2033
Figure 73: MEA Market Attractiveness Analysis By Component, 2023 to 2033
Figure 74: MEA Market Attractiveness Analysis By Application, 2023 to 2033
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- FAQs -
What is the Global Industrial Robot Component Market Size?
The global industrial robot component market is valued at US$ 6.3 billion in 2023.
How will the Market Perform over the Forecast Period?
During 2023 to 2033, sales of industrial robot components increased at 13.9% CAGR.
Which Regional Industrial Robot Component Market Accounts for a Leading Market Share?
Europe tops the global industrial robot components market accounting for 29.8% market share.
Which Components Hold the Highest Market Share?
Robot arms/manipulator account for a 29.1% share of global sales.
Which Application Holds the Highest Market Share?
The articulated Robot sub-segment accounts for a 29.1% share of global sales.
Who are the Major Players in the Industrial Robot Component Market?
Prominent market players include FANUC, Denso Corporation, Kuka, Mitsubishi Electric, ABB, Yaskawa, and Kawasaki Heavy Industries, among others.
Industrial Robot Components Market