The global industrial robot components market is projected to reach USD 6.3 billion in 2023 and is expected to grow at a CAGR of 13.9%, reaching USD 23.2 billion by 2033.

Key components such as sensors, robot arms, end effectors, and drives play a crucial role in the manufacturing of industrial robots. As the industrial robots market continues to thrive, the demand for these essential components is seeing significant growth.

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Country-wise Insights

The industrial robot component market in the United States is projected to grow at a CAGR of 13.3% over the forecast period. The rising adoption of industrial robots, particularly in the U.S., is driving an increased demand for robot components.

For instance, the number of installed industrial robots in the Americas exceeded 55,000 units in 2021, marking a 31% increase compared to 2020, which had seen a decline due to the pandemic. This is the second time that installations in the region have surpassed the 50,000-unit threshold, with 55,212 units installed in 2018.

In the U.S., new robot installations rose by 14%, reaching 34,987 units in 2021, surpassing the pre-pandemic level of 33,378 units in 2019. The automotive industry remained the largest adopter with 9,782 units installed in 2021. Additionally, the metal and machinery sector saw a 66% increase in robot installations, with 3,814 units installed in 2021, securing the second spot in demand. The plastic and chemical products sector also saw a 30% increase, with 3,466 new robots installed, while the food and beverage sector reached a new peak with 3,402 units, marking a 25% growth.

As the demand for industrial robots continues to surge, the need for robot components to support their production is driving significant growth in the sales of industrial robot components.

Category-wise Insights

Controllers and sensors are critical components in the manufacturing of various types of robots. The controller, often likened to a computer, functions as the brain of the robot. It is essential for all industrial robots, as it directs their actions and ensures optimal performance throughout the process, typically through a program that provides operational instructions.

Meanwhile, sensors allow robots to perceive their surroundings and adjust their actions based on the information they collect. Sensors essentially serve as the "senses" of the robot, enabling it to interact with and respond to its environment.

Both controllers and sensors are projected to experience significant growth, with the controller segment expected to grow at a CAGR of 13.8%, and the sensor segment at CAGR of 13.3% during the forecast period.

Key Strategies of Market Leaders

Leading manufacturers of industrial robot components include FANUC, Denso Corporation, Kuka, Mitsubishi Electric, ABB, Yaskawa, and Kawasaki Heavy Industries.

These market leaders are prioritizing the production of high-quality, durable components, which not only foster customer loyalty but also enhance brand recognition. Additionally, offering customization options presents significant revenue growth opportunities for manufacturers in the long term.

Moreover, establishing long-term relationships with end-users is a strategic focus, enabling companies to drive demand for industrial robot components in the coming years. This approach helps market players secure higher profit margins and solidify their position in the industry.

Browse Full Report: https://www.factmr.com/report/industrial-robot-components-market

Segmentation of Industrial Robot Components Industry Research

• By Component:
• Controller
• Sensor
• Robot Arm/Manipulator
• End Effector
• Drive
• Feedback Devices
• By Application:
• Cartesian Robots
• Scara Robots
• Articulated Robots
• Cylindrical Robots
• Delta Robots
• Polar Robots
• Collaborative Robots
• By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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