Japan Industrial Robotics Industry to Grow at a CAGR 45.5% from 2022 to 2027
Chicago, June 18, 2023 (GLOBE NEWSWIRE) -- According to a research report Japan Industrial Robotics Market by Type (Traditional, Collaborative Robots), Component, Payload, Application (Handling, Processing), Industry (Automotive, Food & Beverages) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027", published by MarketsandMarkets, Japan Industrial Robotics Industry to Grow at a CAGR 45.5% from 2022 to 2027.
Rise in aging population to boost demand for industrial robots.
Japan is one of the leading producers of electric vehicles in the world. The arrival of fully electric and hybrid cars in the coming years is expected to boost the industrial robotics market for industrial robots due to new assembly line processes. Consumer electronics products have declined due to fierce competition from global manufacturers in China and South Korea. However, the demand for electronic components such as sensors and displays in the export market is expected to be high. With FANUC (Japan) and Yaskawa (Japan) as the top players in the industrial robotics market, Japan’s global industrial robots industry is expected to grow steadily.
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Due to its growing senior population, there is massive automation potential in Japan. The aging population in the country makes labor costly, increasing the demand for industrial robots. According to the International Monetary Fund, Japan’s domestic labor force (aged 15–64) is projected to decline even faster than the overall population, dropping by 24 million between 2017 and 2050.
The Population Division of the UN Department of Economic and Social Affairs released an estimate for Japan indicating that its population would dip below 100 million shortly after the middle of the 21st century. Japan is expected to lose 34% of its current population by the end of the century. According to the International Organization of Motor Vehicle Manufacturers, Japan was the fourth-largest manufacturer of commercial vehicles in 2018. It also has one of the largest electronics manufacturing industries in the world. According to the Information Technology & Innovation Foundation, Japan has strong government policies to promote robotics; for example, it provides accelerated depreciation on new equipment.
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Top Key Market Players in Industrial Robotics companies
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FANUC Corporation (FANUC (Japan)),
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ABB (Switzerland),
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Yaskawa Electric (Yaskawa (Japan)),
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KUKA (Germany),
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Mitsubishi Electric (Japan),
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Kawasaki Heavy Industries (Japan),
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DENSO (Japan),
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Nachi-Fujikoshi (Japan),among others