Global Parallel Robots Market to Reach US$ 1,865.8 Million by 2032, Fueled by Increasing Automation of Various Industrial Operations

March 31, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “­­Parallel Robots Market by Type (Double Arms, Multiple Arms), End User (Food and Beverages, Medical, Electronics, and Others), and Region 2024-2032,” the global parallel robots market size reached US$ 931.9 Million in 2023. Parallel robots, also known as parallel kinematic machines, are complex machines that rely on multiple computer-controlled serial chains to support a single platform. They consist of numerous parallel chains, due to which the load is distributed evenly among them, reducing the stress on each chain and increasing the system's overall stability. Their design offers numerous advantages over serial robots, including increased stiffness, precision, and payload capacity, making them ideal for applications such as machine tooling, micro-assembly, and surgery. Besides this, parallel robots help reduce cycle time and enhance productivity while minimizing errors. As a result, they are extensively used in various industrial applications, including aviation, automotive, and packaging industries, where high speeds and accelerations are required.

Global Parallel Robots Market Trends:

The expanding automation of various labor-intensive industrial tasks and production processes to reduce costs and increase productivity is primarily driving the global parallel robots market growth. For instance, in the food and beverage(F&B) industry, parallel robots are used for packing ready-to-eat (RTE) products. Moreover, the increasing product demand from the pharmaceutical sector to improve safety, reliability, and financial savings by minimizing workloads and preventing contamination during packaging is impelling the market growth. Furthermore, the large-scale employment of industrial internet of things (IIoT) and cloud robotics to reduce production costs, improve efficiency, and streamline production processes is aiding in market expansion. In addition to this, ongoing technological advancements, such as the integration of edge computing, artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) in parallel robots, are presenting remunerative growth opportunities for the market. Other factors, such as the emerging trend of Industry 4.0, the growing adoption of collaborative robotics that can work alongside humans, and the rising demand for electronic devices, are contributing to the market growth. Looking forward, the market value is projected to reach US$ 1,865.8 Million by 2032, expanding at a CAGR of 7.8% during 2024-2032.

Market Summary:

  • Based on the type, the market is bifurcated into double and multiple arms. Between these, multiple arms account for the majority of the global share.
  • On the basis of the end user, the market has been segregated into food and beverages, medical, electronics, and others. Currently, food and beverages represent the most popular segment.
  • Based on the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. At present, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being ABB Ltd., Bekannter (Yuyao) Robotics Technology Co. Ltd., FANUC Corporation, Hiwin Corporation, Kawasaki Heavy Industries Ltd., Kuka AG, Omron Corporation, Penta Robotics, Siasun Robot & Automation Co. Ltd., Yaskawa America Inc. (Yaskawa Electric Corporation), etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Type Covered Double Arms, Multiple Arms
End User Covered Food and Beverages, Medical, Electronics, Others
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Bekannter (Yuyao) Robotics Technology Co. Ltd., FANUC Corporation, Hiwin Corporation, Kawasaki Heavy Industries Ltd., Kuka AG, Omron Corporation, Penta Robotics, Siasun Robot & Automation Co. Ltd., Yaskawa America Inc. (Yaskawa Electric Corporation), etc.
Customization Scope 10% Free Customization
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Global Parallel Robots Market to Reach US$ 1,865.8 Million by 2032, Fueled by Increasing Automation of Various Industrial Operations
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