500,000+ industrial robots shipped in 2023: Interact Analysis

Overall global industrial robot shipment volumes exceeded 500,000 units in 2023, marking a low point in terms of revenues and shipments, according to global market research firm Interact Analysis.

This was a similar level to 2022, following a record high in 2021’s immediate post-COVID period, and the average price of industrial robots decreased in 2023. Interact’s long-term forecast remains positive, however, anticipating the market will grow by an average of 3.7% per year between 2024 and 2028, in line with global manufacturing output figures.

Growth of industrial robots in the Americas plummeted by 17.3% in 2023, compared with a slight increase in growth in Asia-Pacific (APAC) and stable growth in Europe, the Middle East and Africa (EMEA). The Americas accounted for around 17% of global industrial robot revenues, compared to APAC’s 62% and EMEA’s 22%.

The top three most common applications—i.e. material handling, welding and assembly—accounted for more than 70% of industrial robot market revenues in 2023, with material handling accounting for 33% on its own. The American market had the world’s highest market concentration, with the top five suppliers sharing nearly 80% of revenues and more than 66% of unit shipments.

“The average price per unit is on a downward trajectory, following a rise for two consecutive years,” says Interact research manager Maya Xiao. “We expect a price decline of around 3% per year between 2024 and 2028.”