US$ 1,621.9 Million North America Industrial Robots Market to Register 4.6% CAGR Between 2021 and 2031, Finds Bekryl Market Analysts

North America Industrial Robots Market Analysis | Bekryl Market Analysts
North America Industrial Robots Market is estimated to be valued at US$ 1,621.9 Million in 2022 and is expected to register 4.6% CAGR during the forecast period. According to Bekryl Market Analysts, the industry is highly consolidated wherein major players are focusing on inorganic growth measures to ensure long term market sustenance

According to the recently released report by Bekryl, North America Industrial Robots Market is estimated to be valued at US$ 1,621.9 Million in 2022 and is expected to register 4.6% CAGR during the forecast period. Industrial robots are mainly categorized based on the level of interaction with humans along with the degree of autonomous activity. The major factors augmenting the growth of the Industrial Robot market include ongoing shift from manual to IoT enabled automation process across various sectors. Automotive and electronic industries are two growth segments for industrial robot sales in North America.

In 2021, U.S. accounted for 89.5% market share and is expected to grow by 1.6X between 2030 and 2021. The region is characterized by presence of varied specializations in the field of industrial robots. While U.S. is a major consumer of industrial robot, Canada has specializing in artificial intelligence research.

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Few key trends from North America Industrial Robots market:

Trend#1: Top 5 Industrial Robot Players Accounted for 73.4% Revenue Share in 2021

The top four players in North America Industrial Robots Market accounted for 73.4% of the total revenue in 2021. Over 65% of these companies is dominated by Japan based manufacturers with remaining being Europe based manufacturers.

Trend#2: Leading Industrial Robot Companies are Adopting Inorganic Growth Measures for Long Term Market Sustenance

Companies are strategically focusing on mergers and acquisition for long term market sustenance, compliment their solution offerings, and enhance their presence. For instance, in 2020, ABB acquired Codian Robotics B.V., a Netherland-based industrial robot company, in order to complement its product offerings and focusing on end-use applications such as food and beverage, pharmaceuticals, and logistics

Trend#3: Demand for Collaborative Robots to Gain Traction in Next Eight Years

As of 2022, traditional industrial robots dominated the North America market. However, there has been an increased demand for collaborative robots from across end-use sectors. Increasing demand for human interaction with robots is driving the sales of collaborative robots worldwide.  Unlike traditional robots, cobots are expected to register double digit CAGR during the forecast period.  Rethink Robotics and Universal Robots account for the major market share in the segment.

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Some of the key companies covered in the report are:

ABB Limited
Omron Adept Technology
FANUC Corporation
Yaskawa Electric Corp
Shibaura Machine
Panasonic Corporation
Mitsubishi Electric Corporation
Seiko Epson Corporation
DENSO Corporation

About Bekryl

Bekryl Market Analysts is a global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.

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