MATERIAL HANDLING ROBOTICS MARKET REPORT OVERVIEW
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The global material handling robotics market size was valued at US$ 7613 million in 2022 and will reach US$ 9469.4 million by 2029, witnessing a CAGR of 3.1% during the forecast period 2023-2029
Material handling robots are used in various streams such as pick and place, palletizing/depalletizing, and the packaging sector. They are used to improve material handling efficiency, flexibility, and constancy in the manufacturing processes. Use of the material handling robots for the manufacturing business not only removes the workers from the ergonomic hazards but also establishes the lean management system of the enterprise. These robots can be used for activities such as case-picking, and the carts can also be provided by fully automatic guided vehicles (AGVs) to the production lines and fulfillment centers. The lifting capacity of material handling robots can be over 150 lbs (74 kg). With the help of a twin-arm manipulator, any object in a warehouse can be lifted or handled. These robots help reduce workplace fatigue and injury.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The COVID-19 pandemic came with challenges and severe impacts on the entire market globally. In the initial phases, the demand for these testers dropped significantly due to the closing down and slowing of the production sector. It had a direct impact on the market. The pandemic caused short-term disruptions. There were labor shortages as well. The pandemic accelerated the demand for online shopping. It surged the demand for these robots.
LATEST TRENDS
"Technological advancements propel the market growth"
Technological advancements propel the market growth. The real progress that drives massive changes comes from technological contribution. These innovations include industrial robots, the Internet of Things, and 3D printing, as well as augmented reality and virtual reality in manufacturing, wearables, and sensors. The cloud systems ensure that cooperation between automated warehousing robots and warehouse management is easy and data sharing possible. It enables centralized surveillance and control over robots to avoid their isolation from the management process no matter where they are placed. This ultimately would lead to better efficient and responsive work in the warehouse that in turn results in more productivity and customer satisfaction.
MATERIAL HANDLING ROBOTICS MARKET SEGMENTATION
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By Type
Based on the type, the market can be categorized into electric handling robotics, semi-electric handling robotics, & manual handling robotics.
- Electric Handling Robotics: Electric handling robots can work with delicate or sophisticated things. This saves time and assists the production of electronic devices.
- Semi-Electric Handling Robotics: Semi-electric handling robotics combine both electric and manual handling techniques. They are used for lifting and transporting objects over short distances.
- Manual Handling Robotics: Manual handling robotics are designed to work efficiently with robots. They are user-friendly robotics that are lightweight and flexible.
By Application
Based on the application, the market can be categorized into automotive, chemical, electrical and electronics, industrial machinery, food and beverage, & others.
- Automotive: Such robots achieve a prevailing role in the automotive industry in the form of welding, transfers of parts, assembly parts, and palletization. This leads to higher productivity and improved quality.
- Chemical: Manually running robots are extensive in the chemical industry for transferring and moving highly toxic chemicals easily and quickly all in the best safety manner.
- Electrical and Electronics: These robots supplement the operations in the electrical and electronics industries carrying out functions like the assembly, testing, and packaging of electronic elements.
- Industrial Machinery: The use of such handling robotics is obligatory for the handling of industrial equipment which is quite heavy to be moved without any error.
- Food and Beverage: Material handling is commonly seen in the food and beverage industry for sealing, packaging, and palletizing. They are ideal for bottle handling and tray loading quickly.
DRIVING FACTORS
"Growing manufacturing facilities provides scope for expansion"
One of the key factors in the global material handling robotics market growth is the growing manufacturing facilities. The increase in production plants contributes to the expansion of these robotics. As the number of manufacturing factories is growing worldwide, the desire for machines to help with creation is constantly rising. Considering the enhanced number of working facilities, the demand for the reduction of effort and time spent on production functions is elevated. These robots have lessened the work burden of industries as they can work up to a greater extent. This in turn will boost the demand for the product as they reduce operational costs.
"Safety concerns to boost the demand"
The increased safety concerns boost the market demand for these robotics. It reduces the labor costs as well. As there is no human involvement, these robotics are prioritized in terms of safety. Moreover, as labor costs add up to the cost of producing the final product, these robotics are advantageous as they reduce the costs. This further boosts the demand.
RESTRAINING FACTOR
"High Initial Investment Pose Potential Impediments to Market Growth "
The initial installation costs of these robotics are high which stands as a critical challenge that could impede the market growth of material handling. If there are massive faults, the manufacturer has to bear high warranty costs. The technology required to produce these robotics is expensive. The maintenance cost is high. Overcoming these challenges is very crucial to ensure market growth in the long run.
material handling robotics MARKET REGIONAL INSIGHTS
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"Asia Pacific to Dominate the Market Due to Growing Demand for These Robotics in the Automotive Industry"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Asia Pacific has emerged as the most dominant region in the global material handling robotics market share due to the growing demand for these robotics in the automotive industry. The high temperate and growing population contribute to the growth. These robotics provide energy-efficient solutions. The nation offers various resources which broadens the scope for expansion. Technological innovation lies at the core of this dominance, with the region as a pioneering force in developing and adopting advanced innovations. The increasing demand and improved technology in this region also act as a surplus for growth. As a result, Asia Pacific stands out as a key player, setting the standard for efficient, technologically advanced, and environmentally conscious knives on the global stage.
KEY INDUSTRY PLAYERS
"Key Players Provide Wide Coverage to Various Industries"
Major industry players are pivotal in shaping the market by providing a diverse portfolio. These key players redefine the industry’s standards as they consistently introduce innovative solutions and high-quality products. These players have global reach and thus can cater to the different market needs. The seamless blend of groundbreaking innovation and global footprints makes them the market leaders. They provide insightful and strategic innovations which makes them market leaders.
List of Market Players Profiled
- ABB (Switzerland)
- FANUC (Japan)
- Kuka (Germany)
- Kawasaki Robotics (U.S)
- Yaskawa Electric (Japan)
- Adept Technology (U.S)
INDUSTRIAL DEVELOPMENT
May 2022: ABB introduced the IRB 5710 and 5720 robots. These robots are designed to handle Electric Vehicle (EV) battery production. These robots will enhance productivity and and higher flexibility. They are more durable. Robot’s service life is enhanced by integrating ABB's LeanID Integrated DressPack. They support faster material handling processes.
REPORT COVERAGE
This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global material handling robotics market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.
This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. The report's regional assessments also consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies, and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 7613 Million in 2022 |
Market Size Value By |
US$ 9469.4 Million by 2029 |
Growth Rate |
CAGR of 3.1% from 2022 to 2029 |
Forecast Period |
2022-2029 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the material handling robotics market expected to touch by 2029?
The material-handling robotics market is expected to reach USD 9469.4 million by 2029.
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What CAGR is the material handling robotics Market expected to exhibit by 2029?
The material handling robotics market is expected to exhibit a CAGR of 3.1% by 2029.
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Which are the driving factors of the material handling robotics Market?
Growing manufacturing facilities and safety concerns are some of the key driving factors of material handling robotics market.
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What are the material-handling robotics Market segments?
The material handling robotics market segmentation that you should be aware of, includes, based on type the market is classified as electric handling robotics, semi-electric handling robotics, & manual handling robotics. Based on application, the market is classified as automotive, chemical, electrical and electronics, industrial machinery, food and beverage, & others.