Growth of the Global Industrial Robot Market

The global industrial robot market has seen significant growth in recent years due to increasing demand for automation. According to the <World Robotics 2023> by the International Federation of Robotics, global sales of industrial robots surpassed 500,000 units for the second consecutive year in 2022, marking a 5% increase from the previous year. China remains the largest market, accounting for more than half of global industrial robot sales in 2022. The International Federation of Robotics predicts that the global robot market will reach $66 billion by 2024.

The demand for industrial robots is concentrated in countries with large manufacturing sectors and high levels of automation. Over 70% of the world’s industrial robots are located in China, Japan, the United States, South Korea, and Germany. In 2022, these five countries alone accounted for 79.1% of global industrial robot sales. That year, a total of 553,000 new industrial robots were installed in factories worldwide, with 73% of them in Asia, 15% in Europe, and 10% in the Americas.

In terms of industry use, more than half of the global demand for industrial robots comes from the automotive and electrical/electronics industries. Additionally, industrial robots are increasingly used in the food, pharmaceutical, and other industries' production lines.