The Largest Import Markets for Industrial Robots

December 6th, 2023 IndexBox Leave a comment

In today’s rapidly advancing technological landscape, industrial robots have become indispensable tools in manufacturing and automation processes. These machines offer unparalleled precision, efficiency, and flexibility, making them highly sought after by industries worldwide. In this article, we will explore the top import markets for industrial robots and delve into key statistics that highlight their importance in various countries.

1. China: Leading the Way

It comes as no surprise that China takes the top spot in the world’s best import markets for industrial robots. With a staggering import value of $1.4 billion in 2022, China’s demand for these versatile machines is soaring. The country’s manufacturing sector, which includes automotive, electronics, and machinery industries, heavily relies on industrial robots to streamline production lines and enhance efficiency.

2. The United States: Embracing Automation

The United States trails behind China with an import value of $523.4 million in 2022. As one of the world’s largest manufacturing hubs, the country utilizes industrial robots to optimize its production processes. Various industries, such as automotive, aerospace, and pharmaceuticals, benefit from the precision and speed offered by these machines. This demand is expected to increase further in the coming years as companies continue to invest in automation technologies.

3. Germany: A Hub for Engineering Excellence

Germany secures the third position with an import value of $425.5 million in 2022. Recognized for its engineering prowess, the country has successfully integrated industrial robots into its manufacturing landscape. The automotive industry, in particular, heavily relies on these machines to achieve high-level precision and improve production efficiency. Moreover, industries such as electronics, pharmaceuticals, and machinery are increasingly adopting industrial robots to gain a competitive edge.

4. Italy: Advancing Manufacturing Capabilities

Italy follows closely behind Germany, with an import value of $250.1 million in 2022. The country is known for its strong tradition in manufacturing, with industries such as automotive, machinery, and textiles being major contributors to its economy. By adopting industrial robots, Italian manufacturers enhance their capabilities, reduce production costs, and improve quality control. This technology enables them to respond swiftly to the ever-changing market demands.

5. Mexico: Bridging the Gap

Mexico holds a significant position in the global import market for industrial robots, with an import value of $193.6 million in 2022. Situated strategically close to the United States, Mexico has become an attractive destination for manufacturers looking to establish a production base. By integrating industrial robots into their operations, Mexican companies can bridge the gap in production efficiency, improving product quality and meeting stringent international standards.

6. South Korea: Innovating the Future

South Korea is also a prominent player in the import market for industrial robots, with an import value of $179.0 million in 2022. As a technologically advanced nation, South Korea’s industries, particularly automotive, electronics, and shipbuilding, heavily rely on industrial robots for their manufacturing processes. By embracing automation, South Korean companies drive innovation, enhance competitiveness, and achieve impeccable product quality.

7. France: Advancing Productivity

France secures its presence in the global import market for industrial robots with an import value of $177.0 million in 2022. The country’s diversified manufacturing sector, encompassing industries such as aerospace, automotive, and electronics, recognizes the value of industrial robots in streamlining production and increasing productivity. The adoption of these machines allows French manufacturers to optimize workflows, reduce costs, and meet market demands with utmost precision.

8. Vietnam: Embracing Technological Advancements

Vietnam is emerging as a notable import market for industrial robots, with an import value of $175.8 million in 2022. The country’s manufacturing sector, primarily driven by electronics, textile, and food processing industries, has recognized the importance of automation in achieving sustainable growth. Industrial robots play a crucial role in enhancing production capabilities, improving product quality, and reducing labor costs for Vietnamese manufacturers.

9. Turkey: Enhancing Competitiveness

Turkey’s import market for industrial robots is rapidly growing, with an import value of $137.7 million in 2022. The country’s diverse manufacturing sector, including automotive, textile, and machinery industries, increasingly relies on industrial robots to enhance competitiveness. With the adoption of automation technologies, Turkish manufacturers reduce production time, increase precision, and respond efficiently to market demands, further bolstering the country’s position in the global market.

10. Netherlands: Pioneering Innovation

The Netherlands wraps up the list of the world’s best import markets for industrial robots with an import value of $137.3 million in 2022. Renowned for its advanced logistics and engineering sectors, the country embraces industrial robots across various industries, including automotive, electronics, and agriculture. By incorporating these machines into their operations, Dutch manufacturers achieve greater efficiency, improved product quality, and higher overall productivity.

Conclusion

Industrial robots have revolutionized the manufacturing landscape, enabling companies worldwide to enhance productivity, improve quality, and increase competitiveness. The top import markets for industrial robots, as highlighted by the IndexBox market intelligence platform, include China, the United States, Germany, Italy, Mexico, South Korea, France, Vietnam, Turkey, and the Netherlands. These countries leverage industrial robots to automate their production processes and drive technological advancements in various sectors. As the global demand for industrial robots continues to rise, manufacturers worldwide must harness the capabilities of these machines to stay ahead in today’s highly competitive market.

Source: IndexBox Market Intelligence Platform

Global Trade Daily

The Global Agricultural Robots Market is estimated to be worth $30K Million by 2032

August 28th, 2023 Future Market Insights Leave a comment

The global agricultural robots market is estimated to be worth $5,994.27 million by 2022. The overall demand for agricultural robots is anticipated to increase at a CAGR of 17.7%, likely to result in revenue of $30,500.51 million by 2032.

Due to the growing population and labor shortages, which encourage automation, developing IoT and navigation technology diminishes automation costs.

Continuously emerging technologies are expected to make a significant impact across a variety of industries.

As the world’s population continues to grow, so does consumer demand for food. The agricultural industry is now gradually adopting technology solutions to boost agricultural productivity.

Agricultural robots are becoming more popular as a result of the need to produce agricultural items efficiently and sustainably. These robots speed up farming procedures while requiring minimal human involvement.

The global agricultural robots market is expected to be fueled by a high demand for modernized, sustainable farming practices that result in higher yields.

North America is a Booming Market for Agricultural Robots

A growing labour shortage and rising labour costs will drive sales in North America.

North America dominated the agricultural robots market. As a result of rising labour shortages, high labour costs in the region, and high per-capita disposable income, the agricultural robots market in the region is being pushed by the increased use of modern technologies.

Increasing government support for the deployment of agricultural robots and other agricultural technologies to enable smart farming are just a few of the factors driving the region’s growth. Agricultural robot market participants are heavily investing in the development of low-cost, high-productivity robots in order to increase yields and reduce farmer expenses.

The emergence of new products into the agricultural robots market that encounter farmer demands is going to propel agricultural robots market growth in North America.

Key Manufacturers’ Presence in the Area to Drive Growth in Europe’s Agricultural Robots

Due to the presence of prominent manufacturers in the region, the European agricultural robot market will grow rapidly. Europe is a pioneer in the use and production of self-driving tractors, unmanned aerial vehicles, and other agricultural technology.

Regional farm owners are investing in the most recent agro-technology advancements, such as robots and automated systems, in order to develop large-scale farming operations and increase agricultural productivity by agricultural robots while decreasing labour costs.Government subsidies to encourage the adoption of modern agricultural technology is likely to boost the agricultural robot market’s prospects.

Product Launches and Acquisitions the Primary Strategies Employed by the Key Players

The agricultural robot market is consolidated, with active players competing on product quality and promotion, as well as focusing on strategic moves to gain larger market shares. Companies are heavily investing in developing new and cost-effective products, as well as collaborating with and acquiring other companies. This factor is expected to boost its agricultural robots market share and R&D activities.

AgEagle Aerial Systems Inc., an industry-leading producer of full-stack drone, sensor, and software solutions for commercial and government/defense use, announced in July 2022 that, in accordance with certain waiver agreements dated July 22, 2022, the Company had made final holdback payments in full satisfaction of its payment obligations for the 2021 acquisitions of MicaSense, senseFly, SA, and senseFly, Inc.

Yamaha Motor Co., Ltd. is pleased to announce that it has increased its investment in TIER IV Inc. in order to develop and commercialise autonomous driving technology, including its automated transport solutions business for industrial grounds, in July 2022.

During a press conference at CES 2022 in January 2022, John Deere demonstrated a completely autonomous tractor that is ready for mass production. This equipment includes a Deere 8R tractor, a TruSet-enabled chisel plough, a GPS navigation system, and other cutting-edge technology. The self-driving tractor will be available to farmers later this year.

The rapidly evolving technologies are likely to have a remarkable influence across several industries, from packaging, food and beverage, and healthcare to agricultural and construction. Consumer demand for food is continuously skyrocketing as the population continues to explode. All this has resulted in the agricultural business gradually adopting technology solutions to increase agricultural productivity.

Agricultural robots are gaining popularity among farmers due to the necessity to produce agricultural items efficiently while maintaining sustainability. These robots are employed to speed up farming procedures while requiring minimum human participation. Agricultural robots are devised to execute several farming tasks such as field farming, dairy farming, seed sorting, soil management, and others. Over the forecast period, the global agricultural robots market is likely to be driven by a high demand for modernized and sustainable farming practices that create higher yields.

Agricultural Robots Demand Analysis (2017 to 2021) Vs Market Outlook (2022 to 2032)

The worldwide global agricultural robots market is forecasted to increase at an astronomical CAGR of 17.7% between 2022 and 2032, compared to a 16.4% CAGR recorded during 2017 to 2021. As the world’s population grows, so does the need for food. As a result, farmers are increasingly relying on new tools and technology, such as agricultural robots, to boost total production and generate more cash.

Moreover, governments all over the world are providing subsidies and launching campaigns to raise farmer understanding of automated technology. For example, the European Union has supported programmes such as GRAPE and MARS to replace labor-intensive jobs with advanced automated technology.

Furthermore, some established and start-up agricultural firms are investing in research and development to produce an innovative variety of agricultural robots.

What are the Factors Driving Global Agricultural Robots Market?

Growing population and Labor Shortages Encourage Automation to Boost the Market

The agricultural industry is enduring a lot of resistance from the world’s soaring population and the demand for increased productivity from current farmland. Altering demographics, as well as urbanization, are now influencing the agricultural market.

The agricultural market in the United States and the United Kingdom, among other nations, largely depends on migrant labor, and a similar tendency may be seen in other industrialized countries. According to World Bank data, agricultural employment has decreased by 15% globally during the previous decade. With an aging farmer population limiting the supply of physical labor, the labor shortage has become a global issue.

The younger generation is less inclined to pursue farming, and children from agricultural households frequently relocate to cities for better job opportunities. As a result, established farmers will have to work in the field for extended years.

Field Application of Real-Time Multimodal Robot Systems to Widen Growth Prospects

The employment of multimodal or heterogeneous platforms that integrate ground and airborne vehicles allows for targeted assistance, intelligence, and mission planning. Collaborative and cooperative behavior among multiple robots becomes helpful for large-scale agricultural and dairy operations because activities may be completed simultaneously, resulting in superior economies of scale. Robots and autonomous systems of many sorts may now be combined systematically.

UAVs or drones, for example, are a great platform for aerial observation, but due to their limited payload, operational duration, and durability, they are not suited for completing ground operations such as spraying. As a result, ground and aerial vehicles must work together to complete their missions. The ability to manage several robots from a single software platform would considerably improve large-scale agricultural automation.

Because multimodal robot systems may run swarms of robots on farms to execute several agricultural applications such as spraying and weeding at the same time, companies in the agricultural robots market are projected to utilize such systems widely throughout the forecast period. Investing in multimodal systems is likely to broaden the income streams of agricultural robot industry participants.

What are the Challenges of the Global Agricultural Robots Market?

Data Privacy and Regulation Concerns to Impede Market Growth

There are ethical concerns about data ownership, particularly with the advent of software applications for agricultural use. Similar to other technology fields, it is possible for a small number of corporations to control the bulk of client information. This data is frequently acquired by outside parties, such as banks, which provide loans depending on the farmer’s production. As a result, data security must be considered.

Other ethical elements of agricultural robots, such as liability frameworks and the re-use of robot-collected data for research or studies, must also be taken into account by governments across the world. The absence of technological standards additionally hinders system integration, since the bulk of equipment manufacturers employ proprietary interface protocols for communication.

In many circumstances, extra gateways are required for data translation and transmission among equipment from various manufacturers. An increasing number of agricultural software businesses are attempting to acquire data from farmers. In many situations, software firms sell or exploit data in ways that are detrimental to farmers.

Region-Wise Insights

Why is North America a Promising Market for Agricultural Robots Market in?

A growing Labor Scarcity and Rising Labor Expenses to Push Sales in North America

The agricultural robots market was dominated by North America, accumulating a revenue share of 38.9% in 2022. The area’s market is being pushed by increased use of modern technologies as a result of rising labor shortages, high labor costs in the region, and high per-capita disposable income.

Increasing government assistance for the deployment of agricultural robots like as unmanned aerial vehicles, autonomous tractors, and other agricultural technologies to enable smart farming are some of the reasons contributing to the region’s growth. Some market participants are substantially investing in the development of cost-effective and highly productive robots in order to boost yields and lower farmer expenses.

Future Acres, situated in Santa Monica, has debuted its first robot, Carry, in 2021, with the intention of tackling grape harvesting. Carry uses AI to convey hand-picked crops alongside humans. As a result, the introduction of new products into the market that meets the demands of farmers is driving the growth of the agricultural robots market in North America.

Start-Ups for Global Agricultural Robots Market

Fieldwork Robots builds Harvesting Robots: Fieldwork Robots, located in the United Kingdom, creates autonomous harvesting robots. The vertical harvesting robot developed by the firm features an adjustable arm that allows for a range of picking scenarios.

Farmers may use the robot to pick crops regardless of how tall or low they are. It also provides a horizontal harvesting robot that navigates crop rows in a variety of farming situations. The startup’s solutions save time and money by automating the harvesting process.

Tibot enables Poultry Management: Tibot, a French firm, creates robots solutions for poultry management. The startup’s plug-and-play technology, Spoutnic, helps farmers by lowering the floor egg rate and encouraging mating and fertility. Its six speeds adapt to the flock on the farm, and its manoeuvring angles are adjustable.

It travels independently, and its small size allows for optimal functionality. Spoutnic NAV robot encourages bird movement and aerates the litter, keeping infections at bay. The startup’s technologies help poultry farmers manage their animals more effectively.

FarmDroid offers Seeding Robots: FarmDroid, a Danish firm, creates seeding robots. FarmDroid is a completely automated robot that handles seeding as well as mechanical weed management. It helps farmers and producers to minimize the expenses of seeding and weeding crops while being CO2 neutral and environmentally friendly.

The FarmDroid FD20 is a solar-powered field robot that utilizes GPS signals to identify agricultural planting locations. It also provides mechanical weed control between and inside the rows.

Market Competition

Tractor LLC, Blue River Technology Inc., AutoProbe Technologies LLC, BouMatic Robots BV, Deere & Company, Harvest Automation Inc., Precision Hawk, Yamaha Motor Corporation, and GoPro, Inc. are among the key players in the agricultural robot market.

Recent key developments among players are:

In July 2022, AgEagle Aerial Systems Inc., an industry-leading provider of full-stack drone, sensor, and software solutions for commercial and government/defense use, announced that, in accordance with certain waiver agreements dated as of July 22, 2022, the Company has made final holdback payments in full satisfaction of its payment obligations for the 2021 acquisitions of MicaSense, senseFly, SA, and senseFly, Inc.

In July 2022, Yamaha Motor Co., Ltd. is pleased to announce that it has increased its investment in TIER IV Inc. in order to build autonomous driving technology and promote its commercialization, including its automated transport solutions business for industrial grounds.

In Jan 2022, John Deere presented a completely autonomous tractor that is ready for mass production during a press conference at CES 2022. Deere’s 8R tractor, TruSet-enabled chisel plough, GPS navigation system, and other modern technology are all included in this equipment. Farmers will be able to purchase the self-driving tractor later this year.

vector artificial intelligence robotics market refurbished AI

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Global Used and Refurbished Robots Market is Pegged to Attain Valuation of US$ 5,080.2 Million by 2031

April 19th, 2023 Astute Analytica Leave a comment

The used and refurbished robots market has significant potential, driven by cost savings and sustainability concerns. With a growing demand for automation across various industries, refurbished robots offer an affordable alternative to new ones. Additionally, the increasing emphasis on circular economy practices encourages the reuse of products, making the refurbished robot market an attractive option for companies seeking sustainable solutions.

Global used and refurbished robots market is estimated to witness a rise in revenue from US$ 1,909.7 Mn in 2022 to US$ 5,080.2 Mn by 2031, at a CAGR of 11.5% during the forecast period 2023-2031.

The automotive industry is the largest consumer of used and refurbished robots, accounting for a market share of 38.1% in 2022. This is followed by the electrical and electronics industry, which accounted for a share of 21.6%. The food and beverage industry is also expected to witness significant growth in the demand for used and refurbished robots, driven by the need for automation in various manufacturing processes.

In terms of geography, the Asia-Pacific region is expected to dominate the market for used and refurbished robots, accounting for the more than 62% share in terms of both value and volume. This can be attributed to the presence of several developing economies in the region, such as China, India, and South Korea, which are investing heavily in automation solutions to improve their manufacturing processes and remain competitive in the global market.

The growth of the used and refurbished robots market can also be attributed to the increasing adoption of advanced technologies such as machine learning, artificial intelligence, and the Internet of Things (IoT). These technologies are being integrated into refurbished robots to enhance their capabilities and improve their performance. Additionally, the environmental benefits of reusing and recycling industrial equipment are also driving the growth of the market.

Used and Refurbished Robots Market: A Cost-Effective and Sustainable Solution for Assembly Lines, According to Astute Analytica Study

According to a study by Astute Analytica, assembly lines across various industries employ over 37.6% of used and refurbished robots. The examination of these robots reveals that their total cost of ownership (TCO) can be significantly lower compared to new robots; used robots boast up to 30% lower TCO, while refurbished robots can offer up to 50% reduction. The lower initial purchase price for used or refurbished robots contributes to these savings, but the most substantial cost reductions stem from decreased maintenance and operational expenses.

Used and refurbished robots are especially appealing to assembly line end-users across the global used and refurbished robots market due to their exceptional precision, speed, and repeatability—essential factors for achieving production goals in such applications. These robots are often meticulously maintained and outfitted with cutting-edge technology, enabling them to effortlessly execute complex tasks. Since they are typically designed for specific functions and have demonstrated effectiveness in analogous applications, integrating them into existing production lines is a straightforward process.

Moreover, used and refurbished robots present a more sustainable alternative to purchasing new ones in assembly line applications. Astute Analytica’s analysis indicates that a considerable number of these robots are derived from retired or decommissioned equipment that can be repurposed and reused. Consequently, this approach diminishes the demand for new resources and curtails waste, making it an eco-friendly option for manufacturers.

Asia Pacific Emerges as a Major Hub for Used and Refurbished Robots Market, Driven by Import from Western Countries

The Asia-Pacific region has emerged as a major hub for the used and refurbished robots, with the region expected to witness an increase in market share from 62% in 2022 to 66.4% by 2031. This growth can be attributed to the region’s highly cost-sensitive market, where most countries are known to buy used industrial robots at lower costs to save overall expenses and improve profit margins.

Countries such as India, China, Indonesia, and Vietnam are major consumers of used and refurbished robots market in the Asia-Pacific region. India, for instance, has a large manufacturing sector, and the demand for automation in this sector has been growing in recent years. Refurbished robots are often preferred by Indian manufacturers as they offer a cost-effective solution to improve manufacturing processes.

China, on the other hand, is the world’s largest market for industrial robots, with a significant demand for used and refurbished robots in various industries. The country’s industrial sector has been growing rapidly, and the demand for automation solutions is expected to rise further, driving the demand for used and refurbished robots.

Similarly, Indonesia and Vietnam are also witnessing a significant growth in the adoption of used and refurbished robots. These countries are investing heavily in automation solutions to improve their manufacturing processes and remain competitive in the global market.

According to a report by Astute Analytica, most of these countries in the Asia-Pacific region import used and refurbished robots from North American and European countries. This is because these regions have a large inventory of used industrial robots, which are often sold at a lower cost than new robots. Furthermore, the robots imported from these regions are usually of high quality and have been refurbished to meet the required standards.

Market Share Analysis: Top 4 Players Contribute over 39% Revenue to Global Used and Refurbished Robots Market

The global Used and Refurbished Robots market is highly competitive and consists of several players. The market players are adopting various competitive strategies such as mergers and acquisitions to strengthen their market position. The four major players in the market hold a cumulative market share of close to 39.0%, indicating high competition in the market.

ABB is the largest seller of used and refurbished robots, accounting for over 13% market share. Fanuc follows ABB with more than 11% market share. Other key players in the market include Kuka, Autotech, Alliance Robotics, The Robot Company, Kawasaki, Antenen Robotics, MASTER Robotics, CyberWeld, Surplex, Comau, EPSON, Global Robots, and IRSA Robotics, among others.

The global Used and Refurbished Robots market is witnessing intense competition among major players, which is driving market growth. The leading players in the market are adopting various growth strategies to maintain their market position. Some of the strategies adopted by these players include mergers and acquisitions, partnerships, collaborations, and product innovations.

ABB, the largest seller of used and refurbished robots, is focusing on product innovation and strengthening its position in the market. The company is developing new products and technologies to meet the evolving demands of the customers. ABB has also acquired several small-scale manufacturers to expand its market share and strengthen its position in the market. For instance, In 2021, ABB acquired ASTI Mobile Robotics, a Spanish manufacturer of autonomous mobile robots, to expand its position in the mobile robot market.

Some of the Top Market Players Are:

Autotech Robotics
Eurobots
Global Robots
CyberWeld
IRSA ROBOTICS
Surplex
IRS Robotics
Kuka
ABB
Fanuc
Other Prominent players

Archives, Global Logistics, Global Trade Daily, Technology

Packaging Robots Market will Manage to Achieve USD 8.39 Billion by 2030

February 15th, 2023 Greyviews Leave a comment

The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the packaging robots market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the packaging robots market are present across various countries in the above-mentioned regions.

The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as type, application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global packaging robots market are Yaskawa Electric Corporation, Krones AG, ABB, Kuka AG, Mitsubishi Electric Corporation, Brenton, LLC, Schneider Electric SE, Remtec Automation, LLC, Syntegon Technology GmbH, Fanuc Corporation among others. To achieve a substantial market share in the worldwide packaging robots market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Products are packaged to keep them safe. Various end-user industries are now-a-days shifting towards fully automated technologies such as packaging robots. The purpose of packaging robots is to pick objects up from various storage locations and place them on shelves following a pre-defined route. Robotic arms are normally programmed to move along predefined routes to pick up objects. Using Packaging Robots, labor-intensive tasks can be done faster, and more effectively. Their ease of use comes from their integrated controls and intuitive human-machine interfaces with advanced sensors and software. Packaging robots have the advantage of being flexible, consistent and accurate. The global packaging robots market is predicted to grow positively because of the need for automatic detection and sorting, a key factor identified in a research analysis. With the help of advanced sensors, vision technology, and laser detection, packaging robots determine the location of objects. There are some factors which are hampering the growth of the packaging robots market such as high installation cost and lack of skilled labour. A significant capital investment is required when installing an automated packaging system in new packaging lines or existing lines. Due to the high capital investment required to install and maintain packaging robots, small and medium sized manufacturers are reluctant to install them.

Scope of Packaging Robots Market Report:

Report Metric	Information
Study Period	2022-2030
Base Year	2022
Forecast Period	2023-2030
Market Share Unit	USD Billion
Segments Covered	Type, Application, End-User, and Regions.
Regions Covered	North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players	Yaskawa Electric Corporation, Krones AG, ABB, Kuka AG, Mitsubishi Electric Corporation, Brenton, LLC, Schneider Electric SE, Remtec Automation, LLC, Syntegon Technology GmbH, Fanuc Corporation among others

Segmentation Analysis

Primary packaging is expected to be the fastest-growing segment in 2022.

The type segment includes primary packaging and secondary packaging. The primary packaging segment is expected to witness the highest growth rate during the forecast period. Food and beverage and pharmaceutical industries use primary packaging to manufacture and package sensitive and delicate products. Primary packaging maintains the shelf life of products. The implementation of robots in primary packaging of medicines and liquid syrups provides high precision to maintain quantity and quality.

Pick & place is expected to be the fastest-growing segment in 2022.

The application segment includes filling, case packing, pick & place, tray packing and others. The pick & place segment is expected to witness the highest growth rate during the forecast period. The CAGR for pick & place applications is predicted to be the fastest over the forecast period because of the rapid growth of e-commerce and the use of packaging robots as a substitute for manual picking. Packaging robots will also boost market share because of their advantages like reduced damage, and increased efficiency in pick & place operations.

Food & beverage is expected to be the fastest-growing segment in 2022.

The end-user segment includes logistics, consumer products, food & beverage, pharmaceutical and others. The food & beverage segment is expected to witness the highest growth rate during the forecast period. By automating the packaging operations using packaging robots, assembly line operations are made more efficient, reliable, and high-quality, which drives the adoption of vision-enabled packaging robots. Packaging robots offer proper handling of the product by reducing the chances of spillage in case of liquid of semi-solid products.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the packaging robots market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The Asia Pacific region witnessed a major share. There are several factors contributing to the dominant position of packaging robots in Asia Pacific at present, including the increasing use of packaging robots resulting from high levels of automation and intelligent modernization, and the adoption of vision sensor technology. Moreover, presence of major key players in the region, also contributing a large share in the market growth.

Country Analysis

Germany

Germany’s packaging robots market size was valued at USD 0.29 billion in 2022 and is expected to reach USD 0.59 billion by 2030, at a CAGR of 9.4% from 2023 to 2030.
Firms are expected to increase their demand for industrial packaging robots as they place a greater emphasis on precision in supply chains. Additionally, autonomous robots will be able to generate an upward growth trend in the country as automation levels grow across a range of end-use industries.

China

China’s packaging robots market size was valued at USD 0.41 billion in 2022 and is expected to reach USD 0.86 billion by 2030, at a CAGR of 9.8% from 2023 to 2030.
Packaging robot market growth is attributed to factors such as the need to reduce operational costs in the packaging industry, as well as advancements in manufacturing technology resulting from high consumer demand.

India

India’s packaging robots market size was valued at USD 0.32 billion in 2022 and is expected to reach USD 0.67 billion by 2030, at a CAGR of 9.7% from 2023 to 2030.
There are several factors driving the market growth, including an increased demand for high degree automation and modernization, rapid industrialization, technological advancements such as the usage of vision sensor technology.

Covid-19 Impact

Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the increase due to the rising technological advancements.

The Largest Import Markets for Industrial Robots

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