Material Handling Robots Market Report Overview
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The global material handling robots market size was USD 8885.1 million in 2022 and market is projected to touch USD 32242.1 million by 2031, exhibiting a compound annual growth rate (CAGR) of 15.4% during the forecast period.
Palletizing and de-palletizing, pick-and-place operations, and the packaging industry are just a few of the applications for material handling robots. They are employed to increase the consistency, agility, and effectiveness of material handling in the production processes. The employment of material handling robots in a manufacturing facility not only lessens workplace hazards but also enhances the company's lean management approach. Robots that handle materials can oversee case-picking tasks as well as trolleys for customer service centers or the production of parts for production lines. Robots that handle materials can lift more than 150 lbs (68 kg). Almost every material in a warehouse can be lifted and moved by the dual-arm manipulator. Such robots assist in lowering worker tiredness and accidents.
The industrial sector frequently uses robotic material handling. Robotic arms transferring production parts—typically on or off a conveyor belt or to hold a part in place for manufacture—are referred to as material handling. Due to their consistent ability to increase productivity across a broad range of applications, robotic material handling is in high demand. The significantly higher uptime of these systems is largely responsible for their advantages. Manual material handling is unreliable, slow, and less efficient. With the exception of brief downtimes for maintenance, robots can consistently work around the clock. Such advantages are anticipated to aid in the market's development.
COVID-19 Impact: Market Growth Hampered Due To The Reduced Demand
The COVID-19 has had a staggering impact on the industry; manufacturing companies had been shut for months, while some of the firms were still operating to meet necessities. The pandemic was an unanticipated event that significantly hurt the world economy. The economy's bleak outlook has reduced demand across a number of industries. One of the largest markets for material handling robots is the automobile sector. The automobile sector had to cut production as a result of the decline in demand. Some businesses began operations at half capacity. These scenarios demonstrate a decline in the industry's growth and a decline in demand for material-handling robots.
Latest Trends
"Technological Advances To Increase The Demand For Material Handling Robots"
Manual material handling tasks are among the riskiest for ordinary workers. Even if they do not entail dangerous items, there is always a possibility that individuals will put their health under unnecessary strain. Businesses use robots to perform jobs that might normally need human labor. Almost every sector that moves parts or products at scale can profit greatly from robotic handling thanks to its ability to speed up changeovers, save space on the floor, and ensure consistency. The significant factors contributing to the growth of the material handling robotics market share include an increased focus on technological progressions by major manufacturers, an increase in the upgrading of current facilities with cutting-edge systems, and an increase in the implementation of robots across multiple industries to provide automation in the processes and operations.
Material Handling Robots Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Articulated Material Handling Robots, SCARA Material Handling Robot and Parallel Material Handling Robot. By the type segment, Articulated Material Handling Robots are the largest segment.
- By Application Analysis
Based on application, the market can be divided into Automotive, Chemical, Rubber and Plastic, Electrical and Electronics, Metal and Machinery, Food, Beverages and Pharmaceuticals and Others. The automotive segment holds the majority of the market share by application.
Driving Factors
"Market Demand To Increase Due To Rising Manufacturing Facilities "
Due to their increased productivity, material handling robots have made the work for manufacturers seamless. The economy has been rebuilding as the pandemic has subsided, and there are more factories producing goods globally. Manufacturing and demand are both rising at the same period, and to keep up with the rising demand, industries need more manufacturing units. With the addition of more manufacturing facilities, a need for streamlining the work and reducing time consumption in production functions while improving accuracy has emerged. Due to these factors, it is anticipated that the market for material handling robots will continue to grow throughout the course of the forecast period.
"Cost Effectiveness And Enhanced Safety To Drive The Market Growth "
The cost of labor, which is an important input for manufacturing firms in determining their expenses and factors of production, is rising exponentially as inflation rises on a regular basis. Material handling robots are revolutionizing the way traditional industrial operations are done, and even though the initial investment cost is costly compared to other options, the ultimate cost of production is much lower and more accurate. Better products and a safer working environment have made this a priority for manufacturers. Therefore, during the forecast period, these variables are anticipated to fuel market growth.
Restraining Factors
"Technical Challenges To Restrict The Market Growth"
Operations and maintenance of material handling robots need specialized technical knowledge, abilities, and competence that few individuals understand. The lack of technological know-how and knowledge will restrict the material handling market from expanding. Additionally, the market growth will also be slowed down by technological difficulties, interoperability problems, and costly installation and maintenance costs. The market growth would be further hampered by large-scale technological restrictions in developing economies.
Material Handling Robots Market Regional Insights
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"Asia Pacific Is Dominating Sector Due To The Technological Adoption"
Asia-Pacific is the dominating region for the material handling robots market during the forecast period, the rise is ascribed to the expanding use of technological breakthroughs in material handling robots in order to meet the growing need for the modernization of industrial operations and commercial processes. The need for material handling robots is rising as many firms as possible in the area concentrate on automating conventional manual business procedures. The forecast period is expected to see continued growth in Europe, which is the second-leading region for material handling robots.
Key Industry Players
"Key Players Focus On Partnerships To Gain A Competitive Advantage "
Prominent market players are making collaborative efforts by collaborating with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- FANUC (Japan)
- KUKA (Germany)
- ABB (Switzerland)
- Yaskawa (Motoman) (Japan)
- Nachi (Japan)
- Kawasaki Robotics (Japan)
- Comau (Italy)
- EPSON Robots (Japan)
- Staubli (Switzerland)
- Omron Adept Technologies (US)
- DENSO Robotics (Japan)
- OTC Daihen (Japan)
- Toshiba (Japan)
- Mitsubishi Electric (Japan)
- Universal Robots (Denmark)
- Hyundai Robotics (Korea)
- Siasun (China)
- Anhui EFORT Intelligent Equipment (China)
- Estun Automation (China)
- Guangzhou CNC Equipment (China)
- STEP Electric Corporation (China)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 8885.1 Million in 2022 |
Market Size Value By |
US$ 32242.1 Million by 2031 |
Growth Rate |
CAGR of 15.4% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global material handling robots market expected to touch by 2031?
The global material handling robots market is expected to touch USD 32242.1 million by 2031.
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What CAGR is the handling robots market expected to exhibit during 2031?
The handling robots market is expected to exhibit a CAGR of 15.4% over 2031.
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Which are the top companies operating in the handling robots market?
Some of the top companies operating in the market are FANUC (Japan), KUKA (Germany), ABB (Switzerland), Yaskawa (Motoman) (Japan) and Nachi (Japan)