Industrial Robot Market Share by Company: Dominating Forces and Emerging Trends
Industrial Robot Market Share by Company: Dominating Forces and Emerging Trends
The industrial robot market is poised for significant growth, driven by increasing automation and the rise of smart manufacturing. According to the International Federation of Robotics (IFR), the global industrial robot market is expected to reach $56 billion by 2023, with a compound annual growth rate (CAGR) of 7.4% from 2019 to 2023.
| Company | Market Share (%) |
|---|---|
| ABB | 22.4% |
| Fanuc | 20.6% |
| Yaskawa | 14.7% |
| Kuka | 11.9% |
| Mitsubishi Electric | 5.7% |
Key Players:
ABB: With a market share of 22.4%, ABB is the global leader in industrial robots. The company's robots are known for their reliability, versatility, and wide range of applications.
Fanuc: Fanuc is another leading player in the industrial robot market, with a market share of 20.6%. The company's robots are highly accurate and fast, making them ideal for high-volume manufacturing applications.
Yaskawa: Yaskawa has a market share of 14.7% in the industrial robot market. The company's robots are known for their compact design, high speed, and energy efficiency.
Kuka: Kuka has a market share of 11.9% in the industrial robot market. The company's robots are used in a variety of applications, including welding, painting, and assembly.
Mitsubishi Electric: Mitsubishi Electric has a market share of 5.7% in the industrial robot market. The company's robots are known for their precision, durability, and ease of use.
Market Segmentation:
The industrial robot market can be segmented based on type, application, and industry.
Type:
| Robot Type | Market Share (%) |
|---|---|
| Articulated | 48.5% |
| Cartesian | 29.3% |
| SCARA | 11.7% |
| Collaborative | 5.6% |
| Mobile | 4.9% |
Application:
| Robot Application | Market Share (%) |
|---|---|
| Welding | 32.1% |
| Assembly | 25.5% |
| Palletizing | 15.4% |
| Painting | 10.2% |
| Other | 16.8% |
Industry:
| Robot Industry | Market Share (%) |
|---|---|
| Automotive | 35.2% |
| Electrical & Electronics | 21.7% |
| Metal & Machinery | 18.6% |
| Food & Beverage | 7.8% |
| Pharmaceutical | 6.7% |
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