The market for factory robots is anticipated to reach US$ 12,369.3 million in 2023 and expand at a strong 7.6% CAGR from 2023 to 2033. A factory robot is a sort of mechanical device that receives input and autonomously completes duties connected to production in many industries.

According to usage and industrial requirements, these robots programmes can be modified as often as necessary. Factory robots aid in boosting production while cutting costs and providing high-quality goods for automation applications.

The demand for the installation of factory robots is being driven by the use of 3D printing in numerous industries, particularly the pharmaceutical industry. It is therefore projected that the market for manufacturing robots will expand rapidly over the forecast period as factory robot are turning to be more advanced in upcoming years.

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Prominent Factory Robot Manufacturers

• ABB
• Comau
• Epson
• Fanuc
• FARobot, Inc.
• Kawasaki Robotics
• Kuka AG
• Mitsubishi Electric Corporation
• Staubli International AG
• Universal Robots
• Yaskawa

 Key Takeaways from Market Study

• The global factory robot market is projected to reach US$ 25,731.6 million by 2033.
• The market witnessed 5.2% CAGR between 2018 and 2022.
• 60-225 kg factory robot in payload segment dominates the market with 20.9% market share in 2023.
• Under application, material handling dominates the market and will valued at US$ 2,374.9 million in 2023.
• Based on region, demand for factory robot expected to increase at CAGR of 9.7% in South Asia & Oceania during the forecast period.