Mobile Cobots market in Asia Pacific is Expected to Witness Significant Growth at a CAGR of 22.44% During the Forecast Period (2024–2032): MRFR

MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Mobile Cobots Market.

Overview

The global Mobile Cobots market is projected to grow at a 22.44% CAGR during the forecast period, 2024–2032.

Regional Analysis

The geographic analysis of the Mobile Cobots market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Asia Pacific dominates the Mobile Cobots market. Asia-Pacific is an emerging and leading market for robotics technology. The major countries include China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, and the Rest of Asia-Pacific. Moreover, the cost of the collaborative robots is cheap compared with conventional robots and complete the tasks with more procession and accuracy, which is anticipated to fuel the market size are propel the demand for mobile cobots in Asia-Pacific. 

There is a high demand for industrial robots in multiple industries such as automotive, metals & mining, food & beverage, and healthcare. The major factors contributing to the regional market's growth include increased government support in China, Japan, South Korea, and India. China, in December 2021, unveiled a five-year plan of smart manufacturing, promising digitalization among large manufacturing industries by 2025. This has enhanced the market competitiveness and technology of the sector for the global race in advanced manufacturing. This will result in the growing mobile cobots market. Furthermore, China has 68 industrial robots per 10,000 employees per the 2019 report by the International Federation of Robotics (IFR). 

The Government of China is favorable to manufacturing industrial robots with an increase in unit sales. Moreover, China has the maximum number of start-ups working in AI, which indirectly fuels the growth of the Chinese mobile cobots market. As a significant industrial hub, China has created a demand for large-scale warehouses and storage, which has aided the mobile cobots market expansion. In recent years, the country has faced rising labor wages, causing many companies to shift to mobile cobots. In the forecasted timeframe, the country is expected to maintain its position as the largest industrial hub, resulting in increased demand for mobile cobots in the coming years. Japan is one of the leading countries in the robotic sector. 

The country is also known as the “Robot Nation.” The use of cobots in different sectors such as automobile, healthcare, and electronics has driven the growth of the mobile cobots market. Furthermore, the aim of the country to make labor-free manufacturing units and to increase the use of robots for performing activities such as assembling parts is expected to boost the growth of the market. Japan has 303 industrial robots per 10,000 employees per the 2019 report by the International Federation of Robotics (IFR). The automotive industry is one of the leading users of robotics in the country.

Europe accounts for the second-largest market share in Mobile Cobots market. The European mobile cobots market is growing due to rising production capacities and the presence of major automotive manufacturers players. The shift in energy efficiency-driven technology is driving the mobile cobots market. Furthermore, the presence of key players such as Kuka AG, ABB Ltd, and others is providing opportunities for the growth of the mobile cobots market. The mobile cobots market in Europe is expected to register considerable growth mainly due to the increasing human-machine interface market. 

The growing industrial sector in the UK is the key factor influencing the demand for the mobile cobots market. A huge number of robot start-ups are rising in the UK, which contributes to the growth of the UK mobile cobots market. These start-ups serve various industries such as logistics, warehouses, electronics, and semiconductors and automotive. Furthermore, the high penetration of mobile cobots and technological advancements are fueling the growth of the mobile cobots market in the country.

The North American region is among the leading innovators and pioneers in terms of the adoption of robotics, as well as one of the largest markets. The primary reason for the growth of the market is the increasing adoption of these collaborative robots across numerous industries. This growth in North America region is because of early adoption of cobots in the manufacturing industry due to extensive use of these robots in the automobile, electronics and machine manufacturing industries. In addition, growing positive government initiatives due to industrial revolution along with huge funds for R & D for cobots manufacturing is further enhancing the market size in North America region. The North America mobile cobots market is further segmented into US, Canada and Mexico. 

US is the largest market in the world in terms of the mobile cobots market. The manufacturing industries in the US are the primary driver of growth in the region, with an ongoing trend to automate production processes in order to strengthen US industries in both domestic and international markets. The government of the region is also encouraging the use of robotics by taking steps to support the development of cutting-edge robotics technologies. For example, the US Federal Government has launched a programme called the National Robotics Initiative (NRI) to improve the country's ability to build domestic robots and promote research in the field. According to the International Federation of Robotics, the growth rate of robots in the American region increased by 20% over the previous year, setting a new record level for the sixth consecutive year.

The Middle East & Africa comprises countries such as South Africa, Qatar, Saudi Arabia, UAE, Egypt, and the Rest of the Middle East & Africa. The Middle East & Africa is an emerging market for industrial robotics. The region has registered high growth in the chemical, healthcare, and food & beverage industry with augmented reality implications. Moreover, the increasing adoption of advanced technology and solutions has encouraged the manufacturers to efficiently manufacture the devices, thereby boosting the growth of the mobile cobots market.

South America has the slowest robot adoption rate as compared to other regions. However, the increased use of industrial robots as part of industrial automation has become mandatory by governments in several South American countries, which boosts the growth of the robotics market. Phoenix Control Systems Ltd has been actively planning to introduce small robotic production cells in the South American market. The countries include Brazil, Argentina, Colombia, Chile and Rest of South America. Brazil has a well-established manufacturing ecosystem with a presence of 6 million SMEs. Robot OEMs (original equipment manufacturers) in the region sell their products through distributors and e-commerce websites. 

Robots are increasingly demanded in academic and healthcare sectors in this region. Furthermore, during the 2016 Olympic Games in Rio de Janeiro, the Brazilian Olympic Committee used robots to provide telecommunication between athletes and doctors. In addition, SoftBank, along with KaszeK Ventures, Iporanga Investimentos, and Qualcomm Ventures, invested USD 100 million in Loggi, a Brazilian shipping logistics platform. This factor will instigate the application of mobile cobots in the logistics industry. Additionally, Brazil agriculture sector has grown from food deficient to food abundant country thereby expanding the growth of crop maintenance robots market. Such factors boost the demand for mobile cobots market.

Competitive Analysis

The key players of the Mobile Cobots market include ABB Limited, AUBO Robotics, Inc., FANUC CORPORATION, Kawada Robotics, KUKA AG, MRK-Systeme GmbH, Precise Automation, Techman Robot Inc, The Yaskawa Electric Corporation, Universal Robots, AgileX Robotics (Shenzhen) Ltd., ROBERT BOSCH GMBH, PBA Group, StAubli International AG, and Waypoint Robotics.

Segmental Analysis

The Mobile Cobots market has been segmented based on Weight Capacity, Application, End User.

Based on weight capacity, the global Mobile Cobots market has been segmented into 1 to 3kg, 3 to 5kg, 5 to 10kg above 10kg.

By application, the Mobile Cobots market has been segmented into Automated Pallet Forks, Conveyor Brands/ Belts, Robotic Arms, Safety Units, Shelf Units.

Based on End User, the Mobile Cobots market has been segmented into Aerospace, Agriculture, Automotive, Construction, Electronics & Semiconductor, Food & Beverage, Healthcare, Retail & Logistics.