Industrial Robotics - Denmark

Denmark

Revenue in the Industrial Robotics market is projected to reach €192.40m in 2024.
Other industry robotics dominates the market with a projected market volume of €85.04m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.48%, resulting in a market volume of €161.20m by 2029.
In global comparison, most revenue will be generated in China (€1,506,000.00k in 2024).

Key regions: France, Italy, United States, South Korea, United Kingdom

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Analyst Opinion

The Industrial robotics market in Denmark is seeing steady growth, driven by factors such as increased adoption of automation, growing demand for precision and efficiency in manufacturing, and the convenience offered by robotic solutions. Despite a minimal decline in growth rate, this market is expected to continue expanding due to the various sub-markets, each with their own unique needs and opportunities for automation.

Customer preferences: With the rise of automation and digitization in the industrial sector, there has been a growing demand for advanced robotics solutions. This has led to a shift towards collaborative robots, also known as cobots, which can work alongside human workers in factories and warehouses. Additionally, there is a growing preference for flexible and modular robotic systems that can be easily integrated into existing production lines. These trends are driven by the need for increased efficiency and cost savings in industrial operations.

Trends in the market: In Denmark, the Industrial robotics market is experiencing a growing demand for collaborative robots (cobots) that can work alongside humans in industrial settings. This trend is driven by the need for increased flexibility and efficiency in production processes. Additionally, there is a growing focus on integrating artificial intelligence and machine learning into industrial robots, allowing them to adapt and learn from their environment. These advancements have significant implications for stakeholders, as they can improve productivity and reduce costs. However, there are also concerns about the potential displacement of human workers and the need for upskilling to work alongside advanced robots.

Local special circumstances: In Denmark, the Industrial robotics market is influenced by the country's strong focus on sustainability and green technology. This has led to a demand for eco-friendly and energy-efficient robots, driving innovation in the market. Furthermore, the country's advanced manufacturing sector and highly skilled workforce have created a favorable environment for the adoption of industrial robots. Additionally, Denmark's strict regulations on workplace safety have also played a role in the market, with a focus on ensuring the safety of human workers in collaboration with robots.

Underlying macroeconomic factors: The growth of the Industrial robotics market in Denmark is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in manufacturing infrastructure. The country's strong economy and favorable business environment have also played a significant role in driving market growth. Additionally, the increasing demand for automation and the growing need for efficient production processes in various industries are key factors driving the adoption of industrial robotics in Denmark.

Methodology

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.