Significant Growth in India's Industrial Robot Sector
India's Industrial Robot Growth in 2023
In recent years, the industrial robotics sector in India has experienced significant growth, with remarkable developments occurring in 2023. The total installations of industrial robots in India reached a historic high of 8,510 units, representing a substantial increase of 59% from the previous year's count of 5,353 units. This surge in installations has positioned India as the seventh-largest market for industrial robots globally, according to the latest findings from the International Federation of Robotics (IFR).
Insights from the IFR Report
The report titled "World Robotics 2024" unveiled by the IFR highlights the upward trajectory of industrial robotics in India. Marina Bill, the President of IFR, expressed support for India's expanding role in the international robotics market. She noted, "India is one of the strongest growing economies among the Asian emerging markets. The operational stock of industrial robots has almost doubled since 2018, reaching 44,958 units in 2023, indicating an average annual growth rate of 14% during this period."
Sector-Specific Growth
The automotive industry has been a significant contributor to this growth, with installations in this sector spiking by 139% this year to 3,551 units. Car manufacturers and parts suppliers are driving this increase, highlighting a market share of 42%. Meanwhile, the general industry segment shows diverse growth with the rubber and plastics industry recording 408 installations, reflecting a 17% rise. Conversely, installations in the metal industry have remained stable at approximately 329 units for 2023.
Battery of Opportunities in Robotics
When examining the potential for robotics in India, it becomes evident that there is a gap when compared to a country like China, which shares a similar population profile. In 2023, China reached an astonishing 276,288 units in annual installations, thereby maintaining a firm lead, at a rate 32 times higher than India. This puts into perspective the vast untapped potential for growth in India's robotics landscape.
Future Economic Projections
Looking towards the future, the OECD has projected that India's GDP will grow at a robust rate of 6.5% annually during the next fiscal years. The automotive sector remains the largest customer of robotics, having announced several investments focused mainly on electric vehicle and battery production capacities. Each of these projects, which are either currently in motion or in the early planning stages, is poised to contribute to an anticipated rise in robot installations through 2025, before facing a slight contraction in 2026 as the Production Linked Incentives program reaches its conclusion.
Conclusion
The outlook for the industrial robotics sector in India appears highly optimistic. As more industries adapt to automation, there will be ongoing demands for advanced robotic technologies. The commitment to long-term projects in various sectors is expected to spur further growth, creating a dynamic environment for robotics in India. With continuous investments and a focus on improving production capabilities, India is setting a solid foundation for a future where robotics play an instrumental role in various industries.
About the International Federation of Robotics
The International Federation of Robotics serves as a pivotal voice for the global robotics industry, driving innovation and excellence across the sector. They provide insights on developments and advancements shaping the future of robotics.
Frequently Asked Questions
What was the number of industrial robots installed in India in 2023?
India installed a record 8,510 industrial robots in 2023, marking a 59% increase from the previous year.
Which industry saw the highest growth in robot installations?
The automotive industry experienced the highest growth, with installations jumping 139% in 2023.
How does India compare to China in terms of robot installations?
China reached 276,288 installations in 2023, significantly outpacing India's installations.
What is the projected GDP growth rate for India?
The OECD expects India’s GDP to grow at a robust rate of 6.5% per annum for 2024 and 2025.
Who is the International Federation of Robotics?
The International Federation of Robotics is an organization that represents the global robotics industry's interests and provides insights into its advancements.
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