Study: China to Ship Half of the World’s Collaborative Robots From 2023
Updated cobot research from Interact Analysis shows that the market enjoyed 45% growth in 2021 as part of a post-pandemic rebound. The market for collaborative robots will continue to grow strongly out to 2026 with annual growth rates sitting at just over 20%. Logistics and service industries are likely to be the long-term growth drivers.
The Chinese market for collaborative robots continues to lead over the EMEA and Americas regions. Interact Analysis predicts that China’s market share by shipments will increase from 49.1% in 2021 to 54.4% in 2026 (at which point annual unit shipments will exceed 50,000). The research shows that China’s 2022-2026 cobot CAGR will be 29% – the highest of all the global regions. The Americas – where uptake of cobots particularly in manufacturing is much more cautious – are likely to retain the smallest market share overall with a 5-year CAGR of 19.4%.
By 2026 the collaborative robot market will be three times the size it was in 2021, exceeding 2 billion dollars that year and with shipment rates hitting the roof at 100,000 units. The outlook is positive for the long-term, with the research showing that growth rates of 20% will be maintained right out to 2030.
Maya Xiao, Senior Analyst at Interact Analysis comments, “As we emerge from the COVID-19 pandemic, the issue of labor shortages is seemingly never ending. This is leading many to invest in collaborative robots. Our research shows that once one competitor invests in collaborative robots, and it is seen to work, there is a ripple effect. In 2021, global cobot shipments achieved a phenomenal year-on-year increase of 44.6%. Collaborative robots are being used as a form of ‘future-proofing’ because the pandemic creates so much uncertainty that companies don’t know what to expect next. Annually, we predict a 20-30% growth rate for the market, right out to 2026.”
About the Report:
Collaborative robots are an important part of intelligent manufacturing and an effective complement to lean production. They’ve enjoyed a spike in popularity over the past few years, benefitting from the push towards automation in industry and constant downward pressure on costs. But which industries will drive growth for collaborative robots in the next five years? What will be the pricing trends as volumes rise? How will collaborative robots complement or influence the traditional industrial robot market? What is the potential for collaborative robots in non-manufacturing fields?
This report answers these and other key questions facing the industry today.
Source: Interact Analysis