Industrial Robot Market

The global industrial robot market is expected to grow with a forecasted CAGR of +3.6% in volume and +6.5% in value from 2022 to 2030. While consumption saw a slight decrease in 2022, overall consumption has shown resilient growth. Key countries like Singapore, China, and the United States lead in consumption and production. Imports and exports have also seen growth, with Japan being the largest exporter. Prices have fluctuated over the years, with noticeable variations among countries.

Market Forecast

Driven by increasing demand for industrial robots for multiple uses worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.4M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market value to $27.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Industrial Robots For Multiple Uses

After two years of growth, consumption of industrial robots for multiple uses decreased by -3.2% to 1.1M units in 2022. In general, consumption, however, saw a resilient increase. Over the period under review, global consumption attained the peak volume at 1.1M units in 2021, and then fell slightly in the following year.

The global industrial robot market value shrank slightly to $16.7B in 2022, reducing by -3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.1% against 2020 indices. Global consumption peaked at $17.2B in 2021, and then shrank in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Singapore (190K units), China (184K units) and the United States (102K units), with a combined 43% share of global consumption. Canada, Russia, Bangladesh, France, Nigeria, Italy, Mexico, India, Malaysia and Ethiopia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +32.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.8B), Russia ($2.4B) and Singapore ($1.7B) were the countries with the highest levels of market value in 2022, together accounting for 41% of the global market. Italy, France, the United States, Canada, Mexico, Ethiopia, India, Bangladesh and Malaysia lagged somewhat behind, together comprising a further 25%.

Among the main consuming countries, Canada, with a CAGR of +20.3%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of industrial robot per capita consumption was registered in Singapore (33 units per 1000 persons), followed by Canada (2.6 units per 1000 persons), Malaysia (0.6 units per 1000 persons) and Italy (0.4 units per 1000 persons), while the world average per capita consumption of industrial robot was estimated at 0.1 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the industrial robot per capita consumption in Singapore was relatively modest. In the other countries, the average annual rates were as follows: Canada (+31.4% per year) and Malaysia (+15.9% per year).

Production

World Production of Industrial Robots For Multiple Uses

In 2022, approx. 1M units of industrial robots for multiple uses were produced worldwide; approximately equating 2021. Overall, the total production indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.5% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 39%. Global production peaked at 1.1M units in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, industrial robot production contracted to $18B in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.6% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 68% against the previous year. Global production peaked at $18.6B in 2021, and then declined modestly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were Japan (189K units), Singapore (181K units) and China (165K units), with a combined 52% share of global production. Russia, Germany, Malaysia, Bangladesh, Mexico, Nigeria, France, the United States, the UK and Italy lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Malaysia (with a CAGR of +175.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Industrial Robots For Multiple Uses

For the third year in a row, the global market recorded growth in supplies from abroad of industrial robots for multiple uses, which increased by 13% to 560K units in 2022. Overall, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 49% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, industrial robot imports reduced to $5.8B in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.1% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 30% against the previous year. Over the period under review, global imports attained the peak figure at $6B in 2021, and then shrank in the following year.

Imports By Country

In 2022, Canada (110K units), China (106K units) and the United States (98K units) was the key importer of industrial robots for multiple uses in the world, achieving 56% of total import. It was distantly followed by Singapore (34K units), making up a 6% share of total imports. India (22K units), Malaysia (20K units), Germany (14K units), Taiwan (Chinese) (12K units) and Italy (11K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Canada (with a CAGR of +38.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.4B) constitutes the largest market for imported industrial robots for multiple uses worldwide, comprising 24% of global imports. The second position in the ranking was held by the United States ($523M), with an 8.9% share of global imports. It was followed by Germany, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +5.6%. In the other countries, the average annual rates were as follows: the United States (+10.1% per year) and Germany (+0.6% per year).

Import Prices By Country

In 2022, the average industrial robot import price amounted to $10,448 per unit, waning by -13.1% against the previous year. Over the period under review, the import price saw a abrupt descent. The pace of growth was the most pronounced in 2019 when the average import price increased by 2.6%. Over the period under review, average import prices hit record highs at $22,177 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($30,606 per unit), while Canada ($1,214 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.6%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Industrial Robots For Multiple Uses

In 2022, overseas shipments of industrial robots for multiple uses increased by 22% to 502K units, rising for the second consecutive year after three years of decline. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 42% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, industrial robot exports rose slightly to $7.1B in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, Japan (189K units) was the largest exporter of industrial robots for multiple uses, constituting 38% of total exports. China (86K units) ranks second in terms of the total exports with a 17% share, followed by Germany (6.9%), Malaysia (5.1%) and Singapore (5%). The United States (16K units), Mexico (13K units), the UK (10K units), Sweden (9.7K units), Italy (9.2K units), Taiwan (Chinese) (9K units), South Korea (8.4K units) and Canada (7.8K units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial robot exports from Japan stood at +9.4%. At the same time, Malaysia (+48.8%), China (+30.1%), Singapore (+29.9%), the UK (+21.7%), Mexico (+16.3%), Canada (+15.6%), Taiwan (Chinese) (+12.3%), the United States (+11.0%), Sweden (+5.7%), Germany (+3.7%) and Italy (+3.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +48.8% from 2012-2022. South Korea experienced a relatively flat trend pattern. While the share of China (+14 p.p.), Malaysia (+4.8 p.p.) and Singapore (+3.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.9 p.p.), South Korea (-3 p.p.), Japan (-5.9 p.p.) and Germany (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($2.5B) remains the largest industrial robot supplier worldwide, comprising 35% of global exports. The second position in the ranking was held by Germany ($726M), with a 10% share of global exports. It was followed by China, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at +5.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+1.0% per year) and China (+12.2% per year).

Export Prices By Country

In 2022, the average industrial robot export price amounted to $14,096 per unit, shrinking by -14.9% against the previous year. Over the period under review, the export price recorded a perceptible setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 7.2% against the previous year. Over the period under review, the average export prices attained the peak figure at $21,688 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($34,606 per unit), while Malaysia ($1,747 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform