Material Handling Robots Market Size, Share, Growth, And Industry Analysis, By Type (Dual Arm Manipulator and Single Arm Manipulator), By Application (Automotive Industry, Electrical and Electronics Industry, Chemical Industry, Machinery & Metal Industry and Food & Beverage Industry), Regional Forecast To 2031

Updated On: 15 April 2024

Material Handling Robots Market Report Overview

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The global material handling Robots market size was USD 866 million in 2022 and the market is expected to reach USD 2351.76 million in 2031, exhibiting a Compound annual growth rate (CAGR) of 11.5% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The functions of material handling Robots are expanding thanks to technical developments. These Robots not only enable human employees to collaborate side-by-side with them, but emerging exoskeleton technologies also enable these  to be donned by human workers. Material Robots provide advantages that accelerate production, lower harm and liability, and save costs while protecting human employees from occupational injuries and enhancing their physical capabilities.

The rising industrialization and digitization, lack of a competent human workforce, and increase in labor expenses are some of the reasons that have an impact on the market for Robots. The development of these Robots across numerous industries is also aided by new growth potential in developing countries as well as recent developments in wireless communication and other computerized software. Each of these elements has a unique effect on the expansion of the Robots market.

COVID-19 Impact: Decrease in Demand and Manufacturing of Robots due to the Significant Impact of the Pandemic

Globally, the COVID-19 pandemic has had a significant impact on a number of manufacturing and processing businesses. Manufacturing operations were suspended or limited. Supply chains, transportation, and building projects all experienced global setbacks. This resulted in a decrease in both the demand for and manufacturing of material Robots, which restrained the expansion of the collaborative robots sector. On the other hand, businesses are progressively returning to their normal levels of production and services. As a result, Robots businesses could once again operate at full capacity, which aided in the market's recovery by the conclusion of 2021.

Latest Trends

"Introduction of Block-Based Programme Interface to Help Non-Programmers set up their Single-Arm YuMi Robots "

The major firms are creating new innovations that are simple to use in order to help SMEs establish themselves in the market quickly. For instance, ABB Ltd. released a block-based programming interface called "Wizard Easy Programming" in December 2020 to make it simpler to programme its single-arm YuMi Robot. A further claim made by the company was that it wanted to lower the entry barrier for non-programmers by making it simpler for them to set up Robots.

Material Handling Robots Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Dual Arm Manipulator and Single Arm Manipulator

• By Application Analysis

Based on application, the market can be divided into Automotive Industry, Electrical and Electronics Industry, Chemical Industry, Machinery & Metal Industry and Food & Beverage Industry

Driving Factors

"Growth in Significant Financing in R&D Activities and Rapidly Changing Consumer Market is Aiding the Robots Industry to Boost"

The advancement of material handling Robots has been spurred by significant investments in robotics research and development across a range of industries. By utilizing cutting-edge technologies, these collaborative robots can be modified to meet unique needs, such as cloud-based management and remote monitoring, along with appropriate physical stature for boosting compatibility with human workforce. Rapid advancements in these Robots' specs and features have been made possible by the changing consumer market, disposable income, customer preferences, wireless technology, and other supporting elements. The material handling industry is growing as a result of financing from numerous business and governmental entities to promote R&D.

"Elevated Labor Charges and Scarcity of Professional Human Resources to Pilot the Broadening of the Material Handling Sector"

Due to the rising cost of labor in industrialized economies, several businesses have adopted Robots as a cost-saving measure. Utilizing material handling Robots helps businesses cut down on waste and eliminates the possibility of human error-related mistakes. Companies are turning to these collaborative robot solutions because of the demand for the supply of better goods and services on the international market. These solutions may be operated with the aid of software, saving money on labor management and training costs. Due to a lack of qualified workforce to supervise the operations and high labor expenses, businesses have been obliged to embrace automation solutions, which are contributing to the market growth of material Robots.

Restraining Factors

"High Commencement Funding and Installation Charges Act as Obstacles in the Expansion of the Robots Industry "

The deployment of material handling Robots is hampered by the high installation costs and integration requirements necessary for the initial setup. Due to the combination of high-quality hardware and effective software control system, the upfront investment and ongoing costs of using collaborative robots are significant. The adoption of these Robots in the commercial and residential use segments is constrained by the large initial investment need. Thus, these factors act as obstacles in the material handling Robots market growth during the anticipated time frame.

Material Handling Robots Market Regional Insights

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"Expansion of Manufacturing Industries and Increasing Demand for Customized Machinery is Aiding Asia Pacific to Lead in the Market"

Due to the existence of Chinese licensed and illegal businesses operating in this industry, rising small and medium-sized businesses, expanding industrial output, and other reasons, the Asia Pacific region is anticipated to develop quickly in the next few years. The material handling Robots market share is expanding as a result of the increased demand for customized vehicles and machinery in this industry, which calls for highly accurate manufacturing processes. Moreover, due to the expansion of manufacturing industries, China is predicted to increase dramatically. In addition, the region's industries have been able to achieve a competitive advantage due to the readily availability of cheap labor, lax emission and safety protocols, low production costs, and federal regulations for FDIs, allowing Asia Pacific to preserve a dominant position as a pioneer in this market.

With growing manufacturing sectors, government support for SMEs, the establishment of manufacturing technologies and industry 4.0, among other causes, North America is anticipated to grow quickly over the course of the projected decade.

Key Industry Players

"Major Competitors are Utilizing Organic and Inorganic Growth Tactics to Obtain a Competitive Advantage in the Industry"

Leading manufacturers of Robot handling technology are utilizing both organic and inorganic expansion and growth tactics to obtain a competitive advantage. A few of the tactics include product development investments, joint ventures, and mergers and acquisitions. Over the next few years, producers will put their attention on increasing the output of material handling Robots.

List of Market Players Profiled

• ABB (Switzerland)
• Adept Technology (U.S.)
• Bionic Robotics (Denmark)
• Blue Ocean Robotics (Denmark)
• Fanuc (Japan)
• KUKA (Germany)
• Rethink Robotics (U.S.)
• Scape Technologies (Denmark)
• Universal Robots (Denmark)
• Robotnik Automation (Spain)

Report Coverage

This report covers the material handling Robots market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.