At 9.7% CAGR, the South & Central America Industrial Robotics Market is projected to be worth US$ 238.03 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America industrial robotics market was valued at US$ 113.29 million in 2022 and is expected to reach US$ 238.03 million by 2030, registering a CAGR of 9.7% from 2022 to 2030. Second life for industrial robots and ROI and sustainability and green economy are the critical factors attributed to the South & Central America industrial robotics market expansion.

A typical industrial robot has a service life of up to thirty years; however, new technology provides an excellent opportunity to give outdated robots a "second life." Industrial robot manufacturers such as ABB, Fanuc, KUKA, Stäubli, and Yaskawa have specialist repair shops near their clients to refurbish or improve used units in an environmentally friendly manner. This prepare-to-repair technique saves both robot makers and consumers money and resources. Offering clients long-term repair is a significant contribution to the circular economy.

ABB claims that it recycles and "remanufactures" thousands of outdated robots to make the industrial industry more sustainable by reducing maintenance costs and maximizing return on investment. ABB obtains unused and discontinued robots for remanufacturing in order to prevent older robots from being scrapped when their lifetime could be extended. As the importance of sustainability grows globally, ABB is committed to assisting in creating more environmentally friendly manufacturing facilities worldwide. As the world is moving toward implementing industrial robotics as a sustainable and feasible choice, this would bring lucrative opportunities for the growth of the South & Central America industrial robotics market in coming years.  

On the contrary, lack of skilled workforce hurdles the growth of South & Central America industrial robotics market.

Based on types, the South & Central America industrial robotics market is segmented into articulated, cartesian, SCARA, collaborative, parallel, and others. The articulated segment held 67.1% share of South & Central America industrial robotics market in 2022, amassing US$ 76.00 million. It is projected to garner US$ 156.16 million by 2030 to expand at 9.4% CAGR during 2022–2030.

Based on function, the South & Central America 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 31.0% share of South & Central America industrial robotics market in 2022, amassing US$ 35.11 million. It is projected to garner US$ 69.66 million by 2030 to expand at 8.9% CAGR during 2022–2030.

Based on industry, the South & Central America 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 58.5% share of South & Central America industrial robotics market in 2022, amassing US$ 66.31 million. It is projected to garner US$ 155.09 million by 2030 to expand at 11.2% CAGR during 2022–2030.  

Based on country, the South & Central America industrial robotics market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 79.0% share of South & Central America industrial robotics market in 2022. It was assessed at US$ 89.52 million in 2022 and is likely to hit US$ 193.85 million by 2030, exhibiting a CAGR of 10.1% during 2022–2030.  

Key players profiles in the South & Central America 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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