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Industrial Robots Market is Expected to Grow at a CAGR of 10.2% from 2021 to 2027
Publishing Date:2021-06-11     Reviews:     Font Size:【 Large Medium Small

From 2015 to 2020, global industrial robots sales increased from 254 k units to 397 k units, growing at a CAGR of 9.3%. Globally there are some 2722 k units industrial robots in operation at end of 2019.

In the same period (2015-2020), China industrial robots production increased from 33 k units to 237 k units, exhibiting a CAGR of 48.3%. The main factors driving this growth are subsidiaries for industrial robots capex, robots pricing down year by year while labor cost grow at a CAGR of 10.8% from 2010 to 2019, and most importantly, ever-growing automation market demand from automotive and 3C industries. Till the end of 2020, China’s industrial robots sales accounts for 42.8% of global sales.

Global industrial robots market is dominating by ABB, Fanuc, Yaskawa and Kuka. China local manufacturers are gaining market share by penetrating in niche market with local service advantage. In some market where China has an obvious advantage, like new energy, 3C, local players have more market share, as they are closer to downstream end users. Generally speaking, price from local manufacturers are also 30%-40% cheaper than global players, which is another factors to gain market share. Till now local manufacturers are dominating the middle/low-end and less complicated market, such as automotive components, automotive electronics, metal processing, and some highly-customized area such as food and beverage, medical products, etc. Global players mainly dominating high value market, such as automotive OEM, warehouse & logistics, etc.

GRD Survey estimates that industrial robots market is expected to grow at a CAGR of 10.2% from 2021 to 2027. It is expected the increasingly acceptance of industrial robots in downstream industries will provide huge opportunities for local manufacturers.

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