Home Food and Recipes Jaw-Dropping Surge in Industrial Robotic Arms Market! Uncover the Compelling Trends and Driving Factors!

Jaw-Dropping Surge in Industrial Robotic Arms Market! Uncover the Compelling Trends and Driving Factors!

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Jaw-Dropping Surge in Industrial Robotic Arms Market! Uncover the Compelling Trends and Driving Factors!

Industrial Robotic Arms Market Projected to Reach $38.4 Billion by 2030

Dublin, Oct. 17, 2023 (GLOBE NEWSWIRE) — The global market for Industrial Robotic Arms is expected to witness significant growth in the coming years, according to a new report by ResearchAndMarkets.com. The market, estimated to be worth $17 billion in 2022, is projected to reach a size of $38.4 billion by 2030, growing at a CAGR of 10.8% during the forecast period of 2022-2030.

Automotive Sector to Drive Market Growth

The report highlights that the automotive sector is expected to be one of the key drivers of growth in the industrial robotic arms market. With a projected CAGR of 10.8%, this segment is estimated to reach $11.9 billion by the end of the analysis period.

Market Growth in China

China, the world’s second largest economy, is forecasted to play a significant role in the growth of the industrial robotic arms market. With a projected market size of $12.6 billion by 2030, China is expected to witness a CAGR of 12.5% during the forecast period.

Noteworthy Geographic Markets

The report identifies Japan and Canada as other noteworthy geographic markets, with both countries expected to grow at a CAGR of 8% and 8.8%, respectively, over the forecast period. In Europe, Germany is forecasted to grow at approximately 9.4% CAGR.

Key Players in the Market

The report features a list of key players in the industrial robotic arms market, including ABB Ltd., DENSO Corporation, Dobot.cc, Fanuc Corporation, Flexiv Robotics Inc., and more.

Future Trends and Drivers

The report also highlights several trends and drivers that are expected to shape the industrial robotic arms market in the coming years. These include the growing demand for increased productivity and worker safety, the shift towards automation, the rise of robotics end of arm tools, and the impact of Industry 4.0 technologies such as IoT and artificial intelligence.

For more information about this report, visit ResearchAndMarkets.com.

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