At 36.5% CAGR, Asia Pacific Collaborative Robots Market is Projected to be Worth US$ 6,138.20 Million by 2031, says Business Market Insights

According to Business Market Insights research, the Asia Pacific collaborative robots market was valued at US$ 508.53 million in 2023 and is anticipated to reach US$ 6,138.20 million by 2031, registering a CAGR of 36.5% from 2023 to 2031. The widespread adoption of industrial automation in diverse industries and deployment of robotics and rapid expansion in manufacturing industry are among the critical factors attributed to drive the Asia Pacific collaborative robots market growth.

The global manufacturing industry is rapidly expanding as more and newer regions invest in manufacturing plants in their localities. This expansion is expected to embrace technological advancements to enhance plant productivity, maintain an edge with customers, and gain a competitive advantage. The expansion in the manufacturing industry is further driven by economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. This technological revolution in the factories has been encouraging the manufacturing industries to further invest in these emerging technologies to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry drives the demand for collaborative robot globally.

On the flip side, the relatively slow production rate hampers the growth of Asia Pacific collaborative robots market.

Based on payload, the Asia Pacific collaborative robots market is segmented into 5–10 Kgs, Up to 5 Kgs, and Above 10 Kgs. The 5–10 Kgs segment held 52.7% market share in 2023, amassing US$ 268.00 million. It is projected to garner US$ 2,950.42 million by 2031 to register 35.0% CAGR during 2023–2031.

In terms of application, the Asia Pacific collaborative robots market is categorized into assembly, pick and place, material handling, quality testing, machine tending, welding, packaging, and others. The material handling segment held 19.7% share of Asia Pacific collaborative robots market in 2023, amassing US$ 99.98 million. It is anticipated to garner US$ 1,504.14 million by 2031 to expand at 40.3% CAGR during 2023–2031.

By type, the Asia Pacific collaborative robots market is segmented into robotic arm, welding guns, grippers, and others. The robotic arm segment held 57.3% share of Asia Pacific collaborative robots market in 2023, amassing US$ 291.41 million. It is projected to garner US$ 3,705.82 million by 2031 to expand at 37.4% CAGR from 2023 to 2031.

Based on end-user industry, the Asia Pacific collaborative robots market is segmented into automotive, electronics, metal and machinery, food and beverage, logistics, pharmaceuticals, and others. The automotive segment held 33.8% share of Asia Pacific collaborative robots market in 2023, amassing US$ 171.77 million. It is predicted to garner US$ 1,775.78 million by 2031 to expand at 33.9% CAGR between 2023 and 2031.

By functionality, the Asia Pacific collaborative robots market is bifurcated into static robot and mobile robot. The static robot segment held 96.2% share of Asia Pacific collaborative robots market in 2023, amassing US$ 489.11 million. It is estimated to garner US$ 5,879.77 million by 2031 to expand at 36.5% CAGR during 2023–2031.

Based on country, the Asia Pacific collaborative robots market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.6% share of Asia Pacific collaborative robots market in 2023. It was assessed at US$ 186.02 million in 2023 and is likely to hit US$ 2,172.46 million by 2031, registering a CAGR of 36.0% during 2023–2031.

Key players operating in the collaborative robots market are ABB Ltd; Agile Robot SE; Aubo (Beijing) Robotics Technology Co Ltd; Azenta, Inc.; Bosch Rexroth AG; Comau SpA; Denso Corp; Doosan Robotics Inc; ESTUN AUTOMATION CO., LTD; Fanuc Corp; Kawasaki Heavy Industries Ltd; Kuka AG; OMRON Corp; Productive Robotics, LLC; Rethink Robotics GmbH; SIASUN Robot & Automation CO., Ltd; Svaya Robotics Pvt. Ltd.; Techman Robot Inc; Teradyne Inc; and Yaskawa America Inc, among others.

• In September 2024, Rethink Robotics makes a comeback at IMTS by introducing its Rethink Reacher (RE) line of cobots. Having a rich background in innovative technologies and being a reliable industry ally in improving productivity and safety, Rethink Robotics is re-emerging with a fresh company vision to provide superior products and solutions for the market.

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