The market for seven-axis industrial robots is referred to as the 7-axis industrial robot market. These robots are capable of more intricate motions and are frequently employed in applications requiring a high level of precision and adaptability. The market for 7-axis industrial robots is anticipated to expand at a CAGR of 10.8% between 2024 and 2032. In recent years, the market has expanded due to the rising demand for automation in industries such as automotive, electronics, and aerospace. The demand for more advanced manufacturing processes and the need for greater production efficiency have also contributed to the expansion of this market. In comparison to robots with fewer axes, the capacity of 7-axis robots to perform more complex tasks is one of their primary advantages. This expanded range of motion permits greater flexibility and precision in manufacturing processes such as welding, painting, and material handling.
As businesses strive to increase productivity, reduce expenses, and enhance product quality, the demand for automation has been increasing rapidly across all industries. The global market for industrial automation is anticipated to reach $270 billion by 2025, expanding at a CAGR of 12% from 2024 to 2032. This expansion is anticipated to increase the demand for sophisticated robots, such as 7-axis robots, that can execute complex tasks with precision and efficiency. The development of advanced technologies such as AI and ML has also played a significant role in the expansion of the market for seven-axis industrial robots. These technologies have made robots smarter and more adaptable, allowing them to perform a greater variety of duties and operate more efficiently. For instance, 7-axis robots powered by AI can analyze sensor data and modify their movements to improve the precision and consistency of manufacturing processes.
The high price of these robots is one of the main factors impeding the expansion of the 7-axis industrial robot market. Robots with seven axes are typically more expensive than robots with fewer axes, making them less accessible to smaller businesses and those with limited budgets. According to a report by Allied Market Research, the average price of a 7-axis robot is approximately $70,000, which is a substantial investment for many businesses. A significant challenge for the 7-axis industrial robotics is the need for trained personnel to operate and maintain these machines. As these robots become more complex and capable, it can be challenging for businesses to locate and train personnel with the required skills and expertise to operate and maintain them. This can hinder the adoption of these robotics, especially for smaller businesses with limited resources.
Double-arm robots have the greatest market share in terms of revenue. This is due to the high demand for these robots in the automotive and aerospace industries, where they are utilized for welding, painting, and assembly, among other duties. The market for double-arm robotics is anticipated to expand at a CAGR of 11.5% between 2024 and 2032. This development is driven by the increasing adoption of automation technologies in the manufacturing sector and the demand for higher precision and efficiency in manufacturing processes. In contrast, single-arm robots have a smaller market share but are projected to develop at a higher CAGR of 15% from 2024 to 2032. Increasing demand for these robots in the electronics and semiconductor industries, where they perform duties such as chip handling and wire bonding, is driving this growth. In addition, the increasing emphasis on collaborative robots, which can work alongside human employees, is anticipated to fuel the growth of the market for single-arm robots.
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The automotive industry has the highest 7-axis industrial robot market revenue due to the industry's high demand for automation. In 2023, the automotive industry held the largest proportion of the 7-axis robot market, with a 43% market share. In addition, the report predicts that the automotive industry will continue to dominate the market in terms of revenue from 2024 to 2032. The 3C industry is anticipated to have the maximum CAGR during the forecast period, at 15%. In the fabrication of electronic components, these robots are used for tasks such as assembly, material handling, and pick-and-place operations. As industries continue to adopt automation technologies and advanced manufacturing processes, it is anticipated that the demand for 7-axis industrial robots will increase, creating opportunities for robot manufacturers and suppliers to expand their market presence and meet the evolving requirements of manufacturers.
Asia-Pacific had the highest revenue share of 45% in the 7-axis industrial robot market in 2023 due to the high demand for automation in numerous industries, including automotive, electronics, and aerospace. The region is anticipated to maintain its revenue dominance throughout the forecast period. APAC is propelled by the increasing adoption of automation technologies in manufacturing processes and the expansion of industries including automotive and electronics. Europe and North America are also important markets for 7-axis industrial robotics, as the demand for automation in various industries continues to rise. Due to the high demand for robots in the automotive industry, significant players in the 7-axis industrial robot market in Europe include Germany and France. The United States and Canada have a considerable market share in North America due to the increasing adoption of automation technologies across numerous industries.
The market for 7-axis industrial robots is highly competitive, with numerous competitors vying for market share. ABB Ltd., Fanuc Corporation, KUKA AG, Kawasaki Heavy Industries, Ltd., and Yaskawa Electric Corporation, among others, are market leaders. These players are employing various strategies, including mergers and acquisitions, partnerships, and product launches, in order to remain competitive. In 2020, for instance, ABB Ltd. acquired Codian Robotics, a Dutch developer of delta robots for high-precision pick-and-place applications. The acquisition is anticipated to strengthen ABB's portfolio of packaging and logistics robotics. Similarly, KUKA AG announced a strategic partnership with Huawei Technologies in 2021 to develop smart manufacturing solutions for the IIoT market. It is anticipated that the partnership will combine KUKA's expertise in robotics with Huawei's expertise in cloud computing and data administration to provide customers with comprehensive Industry 4.0 solutions. As the global demand for advanced manufacturing technologies continues to rise, the competition for 7-axis industrial robots is expected to intensify, presenting opportunities for innovation and expansion for robot manufacturers and suppliers.
