Market status: Stable growth market occupied by the “four big families”

The scale of the industrial robot market is growing steadily, and the global new installed capacity is growing rapidly. According to IFR data, 517,000 new industrial robots were installed worldwide in 2021, an increase of 31.2% year-on-year, and a compound growth rate of 12.0% from 2012 to 2021. According to Inkwood Research, the global industrial robot market will maintain steady growth in the future, growing from $55.37 billion in 2020 to $165.35 billion in 2028, with a compound growth rate of 14.7% from 2021 to 2028.

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The industrial robot market has a high concentration, dominated by the “four families” of robots. According to IFR data, in the global industrial robot market in 2020, Fanuc, ABB, Yaskawa, Kuka four accounted for more than 65%, of which Fanuc ranked first accounted for 17.3%, ABB accounted for 15.7%, Yaskawa and Kuka accounted for 12.9% and 12.1% respectively. The main business of the “four families” and the core technology in the field of robotics are different, Yaskawa and Kuka in the robot business as the core, while Fanuc and ABB started in the factory automation equipment and power business respectively. Among them, ABB’s business with electrical, motion control, process automation, robotics and discrete automation as the core, in 2022 electrical business revenue accounted for 47.9%, robotics and automation business accounted for 10.8%.