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MARKET OUTLOOK

Triton Market Research’s report suggests that the Asia-Pacific industrial robots market is expected to witness growth at a compound annual growth rate of 11.04% through the years 2021-2028. South Korea, Australia & New Zealand, India, ASEAN countries, Japan, China, and Rest of APAC form the market in this region.

India is one of the top ten countries with the most installation of industrial robots, as per the World Robotics Report 2020. Additionally, recently, Ola entered into a partnership with Swedish automation company ABB for robotics and automation solutions for its electric scooters’ manufacturing facilities. Other than this, ABB India established a new robotics facility to support the digital transformation of manufacturing in the country. These developments influence the adoption of industrial robots for various purposes during the product life cycle, fueling the growth of the industrial robots market within India. 

On the other hand, South Korea is among the world leaders in LCD and memory chip manufacturing. Moreover, it is emerging as a hub for motor vehicles and battery production for electric vehicles. The country witnessed a surge in the number of industrial robots in the past few years, with the electronics industry majorly adopting these robots. Major companies in the country, such as LG, Samsung, and others, have enhanced the use of industrial robots in their manufacturing facilities. Hence, these factors actively contribute to the progression of the industrial robots market across South Korea. 

COMPETITIVE OUTLOOK

Leading firms in the industrial robots market are Kawasaki Heavy Industries Ltd, Universal Robots, ABB Ltd, Rethink Robotics, Fanuc Corporation, Omron Adept, and Schunk GmbH.