REDDING, Calif., Aug. 8, 2024 /PRNewswire/ -- According to a
new market research report titled, 'Collaborative Robots
Market by Type, Component
(Hardware, Software), Payload, Application
(Material handling, Welding & Soldering,
Assembling and Disassembling), and End-use Industry (Oil &
Gas, Automotive, Food & Beverage, Others) - Forecast to
2031, the collaborative robots market is projected to reach
$2.9 billion by 2031, at a CAGR of 8.7% during
the forecast period.
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The growth of this market is driven by innovations in
human-machine interface, government programs to promote industrial
automation, and easy and cost-effective programming. Furthermore,
the rising need for collaborative robots in the e-commerce and
logistics sectors, expansion into different non-manufacturing
applications of collaborative robots, and decreasing prices are
expected to create market growth opportunities during the forecast
period.
However, the lack of proper training and skill and lack of
capabilities related to faster cycle time and repeatability
restrains the growth of this market. Also, the need for fine
dexterity in collaborative robots and safety and security issues
are major challenges for the players in this market. Furthermore,
the advancements in artificial intelligence and industry 4.0
systems and collaborative robots with integrated vision systems are
key trends in the collaborative robots market.
The collaborative robots market is segmented based on type
{power and force limiting collaborative robots, safety monitored
stop collaborative robots, speed and separation collaborative
robots, and hand guiding collaborative robots}, component {hardware
(robotic arm, end of arm tooling (EOAT) devices [welding torches,
grippers, vacuum cups, clamps, tool changers, vision systems,
feeder systems, and other EOAT devices], drives, controllers, and
sensors) and software}, payload {up to 5 Kg payload,
5 Kg to 10 Kg payload, and more than 10 Kg
payload} application {material handling (palletizing &
depalletizing, stacker, grain elevating, and bucket elevating),
welding & soldering (resistance spot welding, arc welding,
laser welding, plasma welding, ultrasonic welding, and other
welding applications), assembling and disassembling, machine
tending (grinding, drilling, milling and turning, injection
molding, and other applications), dispensing, processing,
inspection (laser inspection, dimensional checks, vision systems,
flow tests, and leak tests), and other applications}, end-use
industry {automotive and transportation, electrical &
electronics, metal & machinery, plastic & chemicals, oil
& gas, food & beverage, aerospace & defense,
biotechnology, healthcare, and other end-use industries}, and
geography. The study also evaluates industry competitors and
analyzes the market at the regional and country levels.
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Based on type, the collaborative robots market is
segmented into power and force limiting collaborative robots,
safety monitored stop collaborative robots, speed and separation
collaborative robots, and hand guiding collaborative robots. The
speed and separation collaborative robots segment is expected to
account for the largest share of the market in 2024. This large
market share is mainly attributed to its main functions, such as
advanced vision systems, safeguarding the operator in collaborative
robot applications by maintaining a certain minimum separation
distance during operation, and utilizing a traditional industrial
robot combined with various safety sensors to detect when a human
enters the robot's work envelope.
Based on component, the collaborative robots market is
segmented into hardware and software. The hardware segment is
sub-segmented into robotic arms, end of arm tooling (EOAT) devices,
drives, controllers, and sensors. The hardware segment is expected
to account for the largest share of around 62.0% of the
market in 2024. This large market share is attributed to the
increasing demand for collaborative robots for various
applications, and advancements in the hardware components such as
EOAT, tool changers, vision systems, motors, controllers, and power
supply have led to improved accuracy, efficiency, and payload
capacity of collaborative robots.
Based on payload, the collaborative robots market is
segmented into up to 5 Kg payload, 5 Kg
to 10 Kg payload, and more than 10 Kg payload.
The 5 Kg to 10 Kg payload segment is expected to account for the
largest share of the market in 2024. The large market share is
mainly attributed to the fact that these payload collaborative
robots are equipped with a built-in force-torque sensor to ensure
the safety of the workers and are designed to perform medium-duty
applications with ultimate flexibility.
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Based on application, the collaborative robots market is
segmented into material handling, welding & soldering,
assembling & disassembling, machine tending, dispensing,
processing, inspection, and other applications. The material
handling segment is expected to account for the largest share of
the market in 2024. The large market share is mainly attributed to
factors such as increasing production efficiency, high speed and
accuracy of operations, low maintenance cost, speed and strength of
material handling, and compact design of robots. Furthermore,
material handling is a major application in various end-use
industries such as automotive, electronics, metals, and
machinery.
Based on end-use industry, the collaborative robots
market is segmented into automotive and transportation,
electrical & electronics, metal & machinery, plastic &
chemicals, oil & gas, food & beverage, aerospace &
defense, biotechnology, healthcare, and other end-use industries.
The automotive and transportation segment is expected to account
for the largest share of around 22% of the market in 2024.
The large market share is mainly attributed to the benefits offered
by collaborative robots in the automotive industry, such as
cost-effectiveness, higher efficiency, safety, and speed &
precision. Also, using collaborative robots allows car and
automotive component makers to accelerate production, reduce costs,
improve quality, and ensure workers' safety.
Based on geography, the collaborative robots market
is segmented into Asia-Pacific,
Europe, North America, Latin
America, and the Middle
East & Africa. In 2024,
Asia-Pacific is expected to
account for the largest share of around 54% of the Market,
followed by Europe, North America, Latin
America, and the Middle
East & Africa. The large share of this regional
market is attributed to the presence of large-scale manufacturing
industries in the region, especially in the automotive,
electronics, and metal and machinery sectors. Further, the demand
for collaborative robots has significantly increased due to
the growing need for automation in diverse industries such as food
and beverages and healthcare. Also, the declining cost of
collaborative robots and a shortage of skilled labor are
contributing to the growth of the region.
Key Players:
The key players operating in the collaborative robots market are
Universal Robots A/S (Denmark),
Rethink Robots GmbH (Germany), ABB
Ltd (Switzerland), Fanuc
Corporation (Japan), KUKA AG (Germany), Yaskawa Electric Corporation
(Japan), Kawasaki Heavy
Industries, Ltd. (Japan),
Robert Bosch Manufacturing Solutions GmbH (Germany), Stäubli International AG
(Switzerland), F&P Robotics AG
(Switzerland), Techman
Robot Inc. (Taiwan), Precise
Automation Inc. (Taiwan), Doosan
Robotics Inc. (South Korea), MABI
Robotic AG (Switzerland), Energid
Technologies Corporation (U.S.), AUBO Robotics USA (U.S.), and TechMan Robot Inc.
(Taiwan).
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Scope of the Report:
Collaborative Robots Market Assessment—by Type
- Power and Force Limiting Collaborative Robots
- Safety Monitored Stop Collaborative Robots
- Speed and Separation Collaborative Robots
- Hand Guiding Collaborative Robots
Collaborative Robots Market Assessment—by Component
- Hardware
- Robotic Arms
- End of Arm Tooling (EOAT) Devices
- Welding Torches
- Grippers
- Vacuum Cups
- Clamps
- Tool Changers
- Vision Systems
- Feeder Systems
- Other EOAT Devices
- Drives
- Controllers
- Sensors
- Software
Collaborative Robots Market Assessment—by Payload
- Up to 5 Kg Payload
- 5 Kg to 10 Kg Payload
- More than 10 Kg Payload
Collaborative Robots Market Assessment—by Application
- Material Handling
- Palletizing & Depalletizing
- Stacking
- Grain Elevating
- Bucket Elevating
- Welding & Soldering
- Resistance Spot Welding
- Arc Welding
- Laser Welding
- Plasma Welding
- Ultrasonic Welding
- Other Welding Applications
- Assembling and Disassembling
- Machine Tending
- Grinding
- Drilling
- Milling and Turning
- Injection Molding
- Other Applications
- Dispensing
- Processing
- Inspection
- Laser Inspection
- Dimensional Checks
- Vision Systems
- Flow Tests
- Leak Tests
- Other Applications
Collaborative Robots Market Assessment—by End-use
Industry
- Automotive and Transportation
- Electrical & Electronics
- Metal & Machinery
- Plastic & Chemicals
- Oil & Gas
- Food & Beverage
- Aerospace & Defense
- Biotechnology
- Healthcare
- Other End-use Industries
Collaborative Robots Market Assessment—by Geography
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Latin America
- Middle East & Africa
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