In this piece, we will take a look at the top ten industrial robotics companies in the world. For more companies, head on over to Top 5 Industrial Robotics Companies in the World.
Industrialization is the backbone of modern day progress. The start of the industrial revolution centuries ago led to a series of events that kickstarted the process which has led to today’s technology boom. From the boom in global textile manufacturing to the invention of the airplane, to the modern day marvel that is the semiconductor, and the boom in the Internet have all transformed the manner in which people work and play.
At the same time, technology has also changed the manner in which companies conduct their operations. Great Britain was able to overtake India as the world’s largest textile exporter in the 18th century simply because the British were able to mechanize their production – allowing them to spool up output and reduce costs at the same time. Since then, automation has come a long way, with modern day robots able to make cars, stack shelves in warehouses, help pickers with their daily tasks, and even weld rockets.
This widespread utility offered by robots leads to high growth rates for their market. On this front, a research report from Brand Essence Research outlines that the global collaborative robots market was worth $1.1 billion by 2021 and by 2028 it will grow at a compounded annual growth rate (CAGR) of 35.73% to sit at an estimated $9.9 billion by the end of the forecast period. The research firm also outlines some of the top industrial robotics companies in the world, as it shares that firms such as Yaskawa, Dobot, and Universal Robots have introduced a variety of products capable of performing different functions. Out of these, Yaskawa’s products are among some of the most advanced in the world, as they are capable of operating on up to six different positional axes for a wide variety of industrial robotics tasks such as welding, packaging, and product assembly.
Speaking of which, most of the world’s top robotics companies are located in Japan (here’s a list of the world’s top robotics countries). And despite the slowdown in the global economy in 2022 as the Russian invasion of Ukraine unleashed an inflationary wave on a global economy that was already recovering from the coronavirus pandemic, the Japanese robotics industry ended up growing during the year. That’s what data from the Japan Robot Association shows, as it shares that orders for industrial robots sat at $7.35 billion last year, as they grew 1.6% annually. Robot production grew by 5.6% annually in 2022, but by the tail end of the year, i.e. the fourth quarter, the orders dropped by 4.3% annually, and production slowed by 4% over the same time period.
The $7.35 billion figure for orders in the Japanese market is crucial when taking a look at the global industrial robots market. On this front, Grand View Research estimates that the market was worth $26.52 billion last year. So, this implies that Japan accounts for more than a quarter of the market, leaving no doubt that some of the top industrial robotics companies are located in the country. The research firm also believes that the industry will grow at a CAGR of 10.5% between 2023 and 2030 to be worth $60.56 billion by the end of the forecast period. In Grand View’s list of the world’s biggest industrial robot companies, most of the firms are Japanese as well. Building on this, the report adds that Asia Pacific accounted for 65% of the market in 2022 and will maintain this dominance as time progresses. Finally, in terms of use cases, the electronic component manufacturing and assembly segment made up 25% of the market due to the prevalence of repetitive tasks, while the chemicals segment will outpace the broader market by growing at 12%. This growth is self explanatory really since robots are better at measurement and precision tasks while also not being at risk of any health damage from handling chemicals over a long time period or in the case of accidents.
Moving our focus to what’s happening on the ground, Teradyne, Inc. (NASDAQ:TER), which owns one of the most prominent industrial robotics companies in the world, Universal Robots, confirmed in its fourth quarter of 2022 earnings analyst call that the market was facing a slowdown. The firm shared:
Shifting to Industrial Automation. As we expected, the macro-outlook in industrial markets is cautious, with weak industrial PMIs. We expect this will be a growth headwind in the first half of the year.
Rolling up these headwinds and offsetting factors over the first half of the year, our current judgment for the total company has our second quarter about flat with Q1. However, in Industrial Automation for the full year, we have 3 notable factors that should help offset these headwinds later in the year. First, we do not expect the currency exchange impacts we experienced in 2022. Second, growth initiatives that began in 2022, including a channel transformation at UR, will gain traction. One component of the channel transformation is supplementing our traditional distributor channel with a focused OEM channel. That effort delivered 26% growth in 2022, and we expect this to continue in 2023 as our existing OEM partners continue to grow and we add additional OEMs and targeted verticals.
The third factor driving IA growth is expanding the served market through new products. Most notably, in 2023, shipments of the new long-reach, heavy-payload cobot at Universal Robots, the UR20, which will ramp in the second half of the year. Barring a significant deterioration in the macro economy and reasonably stable currencies, we expect channel expansion, combined with new products, to drive greater than 20% growth for IA in 2023, weighted to the second half of the year.
With these details in mind, let’s take a look at some of the top industrial robotics companies in the world. Out of these, some notable picks are Stellantis N.V. (NYSE:STLA), ABB Ltd (NYSE:ABB), and DENSO Corporation (OTCMKTS:DNZOY).
Our Methodology
To compile our list of the top industrial robotics companies, we first made a list of all companies that operate in the market. Then, the firms, or their parent companies, were ranked by their market capitalization. The final list of the world’s top industrial companies is listed below.
Top 10 Industrial Robotics Companies in the World
10. KUKA Aktiengesellschaft (OTCMKTS:KUKAF)
Latest Market Capitalization: $3.1 billion
KUKA Aktiengesellschaft (OTCMKTS:KUKAF) is a German firm that is headquartered in Augsburg, Germany. It is one of the oldest companies on our list since it was set up in 1898. The company makes and sells a wide variety of industrial robots and related parts. Its products are used in electronics manufacturing, warehousing operations for electronic commerce firms, car manufacturing, healthcare, and other industries. KUKA Aktiengesellschaft (OTCMKTS:KUKAF) also serves the needs of the Internet of Things (IoT) industry by supplying controllers and other products.
Along with ABB Ltd (NYSE:ABB), Stellantis N.V. (NYSE:STLA), and DENSO Corporation (OTCMKTS:DNZOY), KUKA Aktiengesellschaft (OTCMKTS:KUKAF) is another top industrial robotic firms in the world.
9. Kawasaki Heavy Industries, Ltd. (OTCMKTS:KWHIY)
Latest Market Capitalization: $3.65 billion
Kawasaki Heavy Industries, Ltd. (OTCMKTS:KWHIY) is a Japanese firm that was set up in 1878. The firm operates out of Tokyo, Japan. It is a diversified company that operates in a variety of industries such as railcars, energy production equipment, and hydraulic machinery. At the same time, Kawasaki Heavy Industries, Ltd. (OTCMKTS:KWHIY) also claims to be one of the firms to have manufactured industrial robots. It has a variety of products in its portfolio, such as small products that can lift 80 kilograms of payload to heavy duty products that can lift 1.5 tons. Other products include picking, pelleting, and welding robots.
8. Seiko Epson Corporation (OTCMKTS:SEKEY)
Latest Market Capitalization: $4.83 billion
Seiko Epson Corporation (OTCMKTS:SEKEY) is another Japanese firm. The firm was set up in 1942 and is headquartered in Suwa, Japan. It is most famous for its printers, but a little known fact about the firm is that it is also one of the world’s top industrial robotics companies. Seiko Epson Corporation (OTCMKTS:SEKEY) has been making industrial robots for more than three decades, and its products include six axis robots, pick and assembly robots, and others designed for human robot collaboration.
7. YASKAWA Electric Corporation (OTCMKTS:YASKY)
Latest Market Capitalization: $10.98 billion
YASKAWA Electric Corporation (OTCMKTS:YASKY) is yet another Japanese firm. It was set up in 1915 and is based in Kitakyushu, Japan. The company claims to be the first in Japan to have manufactured the first electrical industrial robot, and it makes and sells industrial robotic arms, with up to 200 kilograms of lift capacity. Other products include pelletizing robots, welding robots, and painting robots. It claims to have almost three million robots in operation globally.
6. OMRON Corporation (OTCMKTS:OMRNY)
Latest Market Capitalization: $10.99 billion
OMRON Corporation (OTCMKTS:OMRNY) is a Japanese firm based in Kyoto. It is one of the youngest firms on our list since it was set up in 1990. Its products include four axis robots, six axis robots which are used in warehousing, assembly, packaging, and other operations.
Stellantis N.V. (NYSE:STLA), OMRON Corporation (OTCMKTS:OMRNY), ABB Ltd (NYSE:ABB), and DENSO Corporation (OTCMKTS:DNZOY) are some of the top industrial robotics companies in the world.
Click to continue reading and see Top 5 Industrial Robotics Companies in the World.
Suggested Articles:
- 10 Best Artificial Intelligence Stocks Under $20
- 10 Undervalued Semiconductor Stocks To Buy Now
- 11 Best Tech Stocks to Buy On the Dip
Disclosure: None. Top 10 Industrial Robotics Companies in the World is originally published on Insider Monkey.