Industrial Robotic Arms – Global Market Trajectory & Analytics to 2027
Amid the COVID-19 crisis, the global market for Industrial Robotic Arms estimated at US$7 Billion in the year 2020, is projected to reach a revised size of US$10.9 Billion by 2027, growing at a CAGR of 6.6% over the period 2020-2027. Automotive, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$4.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electrical / Electronics segment is readjusted to a revised 7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $928.9 Million, While China is Forecast to Grow at 7.5% CAGR
The Industrial Robotic Arms market in the U.S. is estimated at US$928.9 Million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2027 trailing a CAGR of 7.5% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 5.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2027.
Metal & Heavy Machinery Segment to Record 5.8% CAGR
In the global Metal & Heavy Machinery segment, USA, Canada, Japan, China and Europe will drive the 5.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$542.8 Million in the year 2020 will reach a projected size of US$800.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.8% CAGR through the analysis period.
Select Competitors (Total 77 Featured)
- ABB Ltd
- DENSO Corporation
- Epson America, Inc.
- Fanuc Corporation
- Flexiv Ltd
- Gridbots Technologies Private Limited
- Kawasaki Heavy Industries, Ltd.
- KUKA Robotics Corporation
- Mitsubishi Electric Corporation
- NACHI-FUJIKOSHI CORP
- OMRON Corporation
- Universal Robots
- Yaskawa Europe GmbH