At 29.9% CAGR, Europe Collaborative Robots Market is Speculated to be Worth US$ 5,154.38 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe collaborative robots market was valued at US$ 636.08 million in 2023 and is anticipated to reach US$ 5,154.38 million by 2031, registering a CAGR of 29.9% from 2023 to 2031. The widespread adoption of industrial automation in diverse industries and deployment of robotics and rapid expansion in the manufacturing industry are among the critical factors attributed to drive the Europe collaborative robots market growth.

The penetration of industrial automation is increasing in various industries other than automotive, such as logistics, food & beverages, electrical & electronics, and rubber & plastics. In the recent past, the nonautomotive industries were underpenetrated compared to the automotive industry. With the increasing functionality of equipment such as collaborative robot, it is anticipated that the nonautomotive industries will further accelerate the adoption of collaborative robot. The penetration of industrial automation is also increasing among countries. Developed markets, including China, the US, and Japan, have high penetration; however, there is still a lot of opportunity for the industrial market to grow further, even in the developed markets. The prospect of further robot installations is remarkable in many of these countries, particularly in the automotive industry. This growth is attributed to the necessary modernization and transformation required in these markets. These statistics are promising for collaborative robot manufacturers as they signify the huge scope for further increase in adoption. It is expected that the low penetration will propel considerable growth during the forecast period as long as there is considerable support from the government to the manufacturers.

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

Based on payload, the Europe collaborative robots market is segmented into 5–10 Kgs, Up to 5 Kgs, and Above 10 Kgs. The 5–10 Kgs segment held 55.1% market share in 2023, amassing US$ 350.27 million. It is projected to garner US$ 2,621.38 million by 2031 to register 28.6% CAGR during 2023–2031.

In terms of application, the Europe collaborative robots market is categorized into assembly, pick and place, material handling, quality testing, machine tending, welding, packaging, and others. The assembly segment held 20.1% share of Europe collaborative robots market in 2023, amassing US$ 128.07 million. It is anticipated to garner US$ 862.38 million by 2031 to expand at 26.9% CAGR during 2023–2031.

By type, the Europe collaborative robots market is segmented into robotic arm, welding guns, grippers, and others. The robotic arm segment held 56.8% share of Europe collaborative robots market in 2023, amassing US$ 361.51 million. It is projected to garner US$ 3,119.04 million by 2031 to expand at 30.9% CAGR from 2023 to 2031.

Based on end-user industry, the Europe collaborative robots market is segmented into automotive, electronics, metal and machinery, food and beverage, logistics, pharmaceuticals, and others. The automotive segment held 39.5% share of Europe collaborative robots market in 2023, amassing US$ 251.00 million. It is predicted to garner US$ 1,932.53 million by 2031 to expand at 29.1% CAGR between 2023 and 2031.

By functionality, the Europe collaborative robots market is bifurcated into static robot and mobile robot. The static robot segment held 97.4% share of Europe collaborative robots market in 2023, amassing US$ 619.59 million. It is estimated to garner US$ 5,005.59 million by 2031 to expand at 29.8% CAGR during 2023–2031.

Based on country, the Europe collaborative robots market is categorized into Germany, Italy, France, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 41.6% share of Europe collaborative robots market in 2023. It was assessed at US$ 264.87 million in 2023 and is likely to hit US$ 2,146.28 million by 2031, registering a CAGR of 29.9% 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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