23 Jul 2024


Industrial robot revenues head above $40bn

The global market for industrial robots will climb from $26.8bn in 2012 to reach $41.2bn by 2020, according to a new report from Allied Market Research. This represents a CAGR of 5.4% from 2013 to 2020. Allied attributes the rapid growth to a combination of demand for automation applications, and a reduction of duties on refurbished goods in the Asia-Pacific region.

At present, articulated robots are biggest-selling technology, with sales approaching $13bn in 2012 – almost half of the total robot market. However, the report predicts that cylindrical robots and other types of robots (including customised and refurbished robots) will grow at “significant” pace in the coming years as a result of increasing demand in the Asia-Pacific region, which represented about half of the global market in 2012. The CAGR for cylindrical types will be 6.5% from 2013–2020, while for other types it will be 7.5%.

The automotive sector continues to dominate the global robotics market with sales worth $7.4bn in 2012. However, Allied expects this segment to be hit by a slowdown, and predicts that the food and beverages segment will witness the highest growth rate of 6.9% over the forecast period. Other active areas include the electronics and healthcare sectors.

The report says that nanorobots are gaining momentum in the healthcare and other niche markets. For example, nanorobots can be used to mix compounds, resulting in shorter lead times.