The material handling robotics market includes products such as articulated robots, Cartesian robots, SCARA robots and other types of robots that provide material handling functionality. These robots are used across industries such as automotive, food and beverage, pharmaceuticals and others to automate various material handling processes such as pick and place, palletizing and depalletizing, transportation, packaging and others. The rising need for automation and use of robotics to minimize labor costs while improving efficiency is driving the adoption of material handling robots. In addition, advantages of robots such as increased precision, ability to lift heavy loads, improved accuracy and reduced errors over manual labor further boost their demand.
The global material handling robotics market is estimated to be valued at US$ 24.21 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the material handling robotics are ABB, Kuka AG, FANUC Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd., Universal Robots, Denso Corporation, Epson Robots, Stäubli International AG , Omron Corporation, Nachi-Fujikoshi Corporation, Comau S.p.A. and Adept Technology, Inc. These major players are focusing on developing innovative products and adopting mergers and acquisitions strategies to strengthen their market position.
In terms of opportunities, increasing adoption across small and medium enterprises along with growing e-commerce sector will create new opportunities for growth of Material Handling Robotics Market Size. In the e-commerce industry, material handling robots are being used for various applications such as picking, sorting, transportation and packaging which contributes to efficiency and cost savings.
Globally, companies are expanding their footprint to capitalize on opportunities across emerging markets. For instance, in 2023 Yaskawa Electric Corporation expanded its operations in India by setting up a new robotics manufacturing unit. Similarly, ABB opened a new robotics manufacturing facility in China in 2022 to cater to the growing demand for robots across various industries in the region. Such expansion strategies will help companies boost their revenue streams from international markets.
Market drivers: The growing labor costs globally and increasing demand for automation across industries are major drivers for the material handling robotics market. According to studies, using robots for material handling can help reduce labor costs by over 30% and increase productivity significantly. The rising wages particularly in developed markets is encouraging industries to invest in robotics to offset the increased overhead expenses.
Market restrain: Initial high capital investments required for procurement and deployment of robotic systems is a key challenge restraining wider adoption especially across small and medium businesses. Material handling robots have high purchase cost and require additional investments for system integration. The payback period for robotics investment can be over 1-2 years which hinders their adoption. However, declining robot prices and availability of rental options is addressing this restrain to a certain extent.
Segment Analysis
Material handling segment is dominating the market currently. These robots are used extensively for palletizing, depalletizing, sorting, storage and retrieval in various industries such as automotive, food & beverages, pharmaceuticals, electronics and other manufacturing industries. Material handling robots provide excellent productivity with low cycle times and 24/7 operation capabilities, thereby reducing labor costs. They assist in moving materials within the production and distribution facilities smoothly and efficiently.
Global Analysis
The Asia Pacific region is expected to grow at the fastest rate during the forecast period. This is mainly attributed to growing industrial automation and rising labor costs in emerging economies of China, India, Indonesia and Taiwan. China dominates the regional as well as global material handling robotics market owing to presence of major automotive OEMs and supplier industries. Europe holds significant share led by developed manufacturing sector in Germany, UK, France and Italy. Stringent workplace safety regulations and initiatives by European governments to enhance industrial productivity using robotic solutions drive the demand. North America remains a key market with ongoing technological advancements supported by vibrant research environment in the US and Canada.
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Market HighlightsGlobal material handling robotics market is projected to witness a rapid growth during the forecast period.
The growing demand for material handling robots in various applications such as packaging, pick and place, and palletizing/de-palletizing is aiding the market growth.
The ease of work management and the significant cost reduction offered by these robots is expected to boost the growth of the material handling robotics market.The global material handling robotics market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World.
As compared to other regions, the material handling robotics market in the Asia Pacific is expected to witness a significant growth and hold the largest market share during the forecast period.
China, India, and South Korea are anticipated to drive the growth of the material handling robotics market owing to the presence of a large number of established key players such as DAIHEN Corporation (Japan), Denso Wave (Japan), Epson Robotics (Japan), in this region.Due to the high adoption of material handling robotics in the automotive sector and factors such as strongest growth potential and the presence of major manufacturing hub.
Emerging economies from developing nation such as China and Southeast Asian countries are expected to be the main driving factor for the growth of the market., in the region, the market is likely to show an immense growth in the coming future.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/5099In the global material handling robotics market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of low labor cost coupled with the reduced transportation cost also contributed to the regional growth of the market and emerging economies and technological advancement in the material handling robotics in the region.The global material handling robotics market is projected to reach USD 31 billion at a CAGR of over 10% by the end of the forecast period 2020-2027.Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
