Parallel Robots Market

Market Overview:

The global parallel robots market size reached US$ 931.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,865.8 Million by 2032, exhibiting a growth rate (CAGR) of 7.8% during 2024-2032. The increasing demand for ready-to-eat (RTE) food products, the integration of advanced technologies, and the rising use of parallel robots in manufacturing industry represent some of the key factors driving the market.

Parallel robots, also known as parallel manipulators, are mechanical systems that relies on several computer-controlled serial chains to support a single platform. They are articulated robots that use similar mechanisms for the movement of the robot on its base and one or more manipulator arms. They have multiple axes that move in parallel and have stationary drives and gears. They comprise a mobile platform connected to a fixed base by a set of identical parallel kinematic chains. They also involve a linear actuator, direct current (DC) motor, gear box, and lead screw for the legs. As they are commonly used in pick and place applications and offer high precision and speed and increased stability and arm rigidity with faster cycle times, the demand for parallel robots is catalyzing across the globe.

Parallel Robots Market Trends:

Parallel robots are used in the food and beverage (F&B) industry for the packaging of different food products and drinks. This, coupled with the increasing demand for ready-to-eat (RTE) products on account of hectic lifestyles and the expanding purchasing power of individuals, represents one of the major factors supporting the market growth around the world. Moreover, parallel robots are employed in the e-commerce industry to perform labor-intensive manual item picking tasks. This, in confluence with the rising preferences for online shopping, is favoring the market growth. In addition, the growing need for automation in the manufacturing units of various industry verticals is influencing the market positively. Apart from this, parallel robots find applications in the pharmaceutical industry to minimize workloads and prevent medicines from contamination during packaging. They also improve safety, reliability, and financial savings. Furthermore, the increasing number of surgical procedures in hospitals is catalyzing the demand for parallel robots to increase precision, eliminate human error and improve hygienic conditions among healthcare professionals and patients. Besides this, the integration of the Internet of Things (IoT), edge computing, artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) in parallel robots are strengthening the growth of the market. Additionally, the emerging trend of Industry 4.0 and the growing demand for electronic devices are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global parallel robots market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type and end user.

Type Insights:

• Double Arms
• Multiple Arms
   

The report has provided a detailed breakup and analysis of the parallel robots market based on the type. This includes double arms, and multiple arms. According to the report, multiple arms represented the largest segment.

End User Insights:

• Food and Beverages
• Medical
• Electronics
• Others
   

A detailed breakup and analysis of the parallel robots market based on the end user has also been provided in the report. This includes food and beverages, medical, electronics, and others. According to the report, food and beverages accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for parallel robots. Some of the factors driving the Asia Pacific parallel robots market included the rising automation, the advent of Industry 4.0, the increasing use of parallel robots in e-commerce industry, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global parallel robots market. Detailed profiles of all major companies have also been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global parallel robots market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global parallel robots market?
• What are the key regional markets?
• Which countries represent the most attractive parallel robots markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the end user?
• What is the competitive structure of the global parallel robots market?
• Who are the key players/companies in the global parallel robots market?
   

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the parallel robots market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global parallel robots market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the parallel robots industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.