Industrial Robot Market Research Growth:
The application of industrial robot to the manufacturing industry has several benefits, such as lower labor costs, optimal use of raw materials, short cycle times, high productivity, and high flexibility of equipment. As labor costs keep increasing around the world, the industrial robot will keep rapid growth in the future. The global industrial robot market size reached $ 76.5 billion in 2012 and is expected to reach $ 231.3 billion by 2022 at 11.7% CAGR.
The main driver and most important application field is automotive and electronics industry. Their market share has increased from 49% in 2012 to 67% in 2017. Followed by chemical, machinery, metal and food industry application, their total market share was 17% in 2012 and 18% in 2017 respectively. Following pie chart shows the market share by application:
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APAC has the largest market of industrial robot in use and its market share accounted for 51% in 2012. Europe and North American ranks the second and the third in respective, taking up 31% and 16% respectively. In APAC, the annual sales volume of industrial robot has increased rapidly, and almost tripled from 2012 to 2017. In Europe and North America, this figure is also increasing, but at lower rates of 40% and 53% respectively at the same period. Therefore, the market share of industrial robot in use in APAC will reach 57% of the total, whereas that in Europe will drop to 25%, and this figure remains the same in North America. Following chart shows regional industrial robot in use respectively in 2012 and 2017:
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Following chart shows regional industrial robot sales volume respectively in 2012 and 2017:
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