At 8.5% CAGR, the Asia Pacific Industrial Robotics Market is Projected to be worth US$ 14,209.70 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific industrial robotics market was valued at US$ 7,373.30 million in 2022 and is expected to reach US$ 14,209.70 million by 2030, registering a CAGR of 8.5% from 2022 to 2030. Increase in demand in emerging markets and advancements in automation and industry 4.0 are the critical factors attributed to the Asia Pacific industrial robotics market expansion.      

Emerging markets in Asia Pacific are witnessing significant growth in the Asia Pacific industrial robotics market. Rise in industrialization, economic development, and the need for efficient manufacturing processes are driving the demand for industrial robots in these regions. As per IFR report, Asia Pacific remains a center of industrial robot installations, with India breaking into the top ten list for the first time. According to the latest International Federation of Robotics (IFR) report, industrial robot sales increased by 54% as compared to the 2020 year. The number of robots is increasing rapidly in China and other developing economies. In 2021, India and Thailand had equivalent industrial robots compared to developed economies. Thus, the increasing demand from emerging countries propels the Asia Pacific industrial robotics market growth.  

On the contrary, lack of skilled workforce hurdles the growth of Asia Pacific industrial robotics market.

Based on types, the Asia Pacific industrial robotics market is segmented into articulated, cartesian, SCARA, collaborative, parallel, and others. The articulated segment held 64.7% share of Asia Pacific industrial robotics market in 2022, amassing US$ 4,772.21 million. It is projected to garner US$ 8,659.18 million by 2030 to expand at 7.7% CAGR during 2022–2030.

Based on function, the Asia Pacific industrial robotics market is segmented into soldering and welding, material handling, assembling and disassembling, painting and dispensing, milling, and cutting and processing. The soldering and welding segment held 34.2% share of Asia Pacific industrial robotics market in 2022, amassing US$ 2,521.00 million. It is projected to garner US$ 4,951.81 million by 2030 to expand at 8.8% CAGR during 2022–2030.

Based on industry, the Asia Pacific industrial robotics market is segmented into automotive, medical and pharmaceuticals, electrical and electronics, rubber and plastics, metal and machinery, and food and agriculture. The automotive segment held 41.7% share of Asia Pacific industrial robotics market in 2022, amassing US$ 3,074.58 million. It is projected to garner US$ 5,554.14 million by 2030 to expand at 7.7% CAGR during 2022–2030.   

Based on country, the Asia Pacific industrial robotics market is segmented into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Taiwan, and the Rest of Asia Pacific. Our regional analysis states that China captured 39.9% share of Asia Pacific industrial robotics market in 2022. It was assessed at US$ 2,944.47 million in 2022 and is likely to hit US$ 5,911.92 million by 2030, exhibiting a CAGR of 9.1% during 2022–2030.   

Key players operating in the Asia Pacific industrial robotics market report ABB Ltd, Comau SpA, Fanuc Corp, Kawasaki Heavy Industries Ltd, Kuka AG, Mitsubishi Electric Corp, Seiko Epson Corp, Staubli International AG, Universal Robots AS, and Yaskawa Electric Corp, among others.

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