The Global Industrial Exoskeletons Market is Driven by the Aging and Shrinking Skilled Labor Force

The Global Industrial Exoskeletons Market is Driven by the Aging and Shrinking Skilled Labor Force

High Workplace Injury Costs will Boost Growth Opportunities in the Market

RELEASE DATE
09-Feb-2021
REGION
North America
Research Code: K5B6-01-00-00-00
SKU: PP00203-NA-MT_25238
$4,950.00
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SKU
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$4,950.00
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Description

In 2020, the global industrial exoskeletons market generated a revenue of $62.7 million. Growth is driven by high injury cost and the aging and shrinking skilled workforce in industries.

Rest of World (RoW), led by Japan, is the largest market for industrial exoskeletons—it accounted for almost 49.1% in terms of revenue share in 2020. Europe and North America contributed 33.6% and 17.3%, respectively. Japan’s aging population is the main growth driver. The country has the highest global median age population and the largest share (28.2%) of population aged 65+. Driven by higher acceptance, the RoW market is estimated to grow from $30.8 million in 2020 to $228.2 million in 2025 at a compound annual growth rate (CAGR) of 49.3%.

Among the end-use industries, the manufacturing industry (driven by the automotive sector) held the highest revenue share of 59.3% in 2020; it is projected to grow from $37.2 million in 2020 to $271.4 million in 2025 at a CAGR of 48.8%. The transport industry is the second-largest user of exoskeletons, contributing a 32.6% revenue share in 2020. The construction industry accounted for 7.7% in 2020 and is forecast to register a CAGR of 44.7% from 2020 to 2025. Construction industry growth will be driven by the increasing adoption of powered exoskeletons in shipbuilding and marine construction.

By product segment, powered industrial exoskeletons constituted a 64.8% revenue share in 2020, and this number is expected to increase to 69.9% in 2025. This trend indicates the growing adoption of powered industrial exoskeletons.

This Frost & Sullivan research service analyzes the global industrial exoskeletons market from 2017 to 2025. The market is segmented into passive industrial exoskeletons and powered industrial exoskeletons and both segments are examined in detail (revenue and unit shipment forecast analysis, competitive analysis). Growth opportunities are also analyzed, and the focus is on claims validation (reduced musculoskeletal disorders (MSDs) and improved productivity) and geographic expansion and mergers and acquisitions (M&As). For the total market, growth drivers and restraints are examined, along with new product technology analysis, regional opportunity analysis, standards and regulations, current adoption scenario, and potential risks in terms of exoskeleton usage. Recent use-cases are also studied and revenue and unit shipment forecast and competitive environment are analyzed.

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Global Industrial Exoskeletons Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Key Findings (continued)

Global Industrial Exoskeletons Market Scope of Analysis

Global Industrial Exoskeletons Market Segmentation

Key Growth Metrics for the Global Industrial Exoskeletons Market

Distribution Channels for the Global Industrial Exoskeletons Market

Growth Drivers for the Global Industrial Exoskeletons Market

Growth Restraints for the Global Industrial Exoskeletons Market

Forecast Assumptions, Global Industrial Exoskeletons Market

Key Competitors for the Global Industrial Exoskeletons Market

Need Assessment for the Global Industrial Exoskeletons Market

Pros and Cons for Industrial Exoskeleton Use

Global Industrial Exoskeletons Market Growth Parameters

Occupational Hazards Outlook, Global Industrial Exoskeletons Market

Global Passive and Powered Industrial Exoskeletons Product Comparison

Global Industrial Exoskeletons Market, Product Analysis Based on Type of Injury Prevention

New Product Technology Analysis, Global Industrial Exoskeletons Market

Manufacturing Bases, Global Industrial Exoskeletons Market

Regional Opportunity Analysis, Global Industrial Exoskeletons Market

Regional Opportunity Analysis, Global Industrial Exoskeletons Market (continued)

Standards and Regulations, Global Industrial Exoskeletons Market

Potential Risks, Global Industrial Exoskeletons Market

Potential Risks, Global Industrial Exoskeletons Market (continued)

Current Adoption Scenario—Major Industries, Global Industrial Exoskeletons Market

Current Adoption Scenario—Major Industries, Global Industrial Exoskeletons Market (continued)

Global Industrial Exoskeletons Market—Recent Use-Cases

Global Industrial Exoskeletons Market—Recent Use-Cases (continued)

Global Industrial Exoskeletons Market—Recent Use-Cases (continued)

Revenue and Unit Shipment Forecast, Global Industrial Exoskeletons Market

Percent Revenue Forecast by Product, Global Industrial Exoskeletons Market

Percent Unit Shipment Forecast by Product, Global Industrial Exoskeletons Market

Revenue Forecast by Product, Global Industrial Exoskeletons Market

Revenue Forecast by Region, Global Industrial Exoskeletons Market

Revenue Forecast by End-Use Industry, Global Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast Analysis, Global Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast Analysis, Global Industrial Exoskeletons Market (continued)

Competitive Environment, Global Industrial Exoskeletons Market

Competitive Analysis, Global Industrial Exoskeletons Market

Competitive Analysis, Global Industrial Exoskeletons Market (continued)

Key Growth Metrics, Global Passive Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast, Global Passive Industrial Exoskeletons Market

Pricing Forecast Analysis, Global Passive Industrial Exoskeletons Market

Revenue Forecast by Region, Global Passive Industrial Exoskeletons Market

Revenue Forecast by End-Use Industry, Global Passive Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast Analysis, Global Passive Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast Analysis, Global Passive Industrial Exoskeletons Market (continued)

Competitive Environment, Global Passive Industrial Exoskeletons Market

Competitive Analysis, Global Passive Industrial Exoskeletons Market

Competitive Analysis, Global Passive Industrial Exoskeletons Market (continued)

Key Growth Metrics, Global Powered Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast, Global Powered Industrial Exoskeletons Market

Pricing Forecast Analysis, Global Powered Industrial Exoskeletons Market

Revenue Forecast by Region, Global Powered Industrial Exoskeletons Market

Revenue Forecast by End-Use Industry, Global Powered Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast Analysis, Global Powered Industrial Exoskeletons Market

Revenue and Unit Shipment Forecast Analysis, Global Powered Industrial Exoskeletons Market (continued)

Competitive Environment, Powered Industrial Exoskeletons Market

Competitive Analysis, Powered Industrial Exoskeletons Market

Competitive Analysis, Powered Industrial Exoskeletons Market (continued)

Growth Opportunity 1—Research/Test Validation Pertaining to Reduced MSDs and Improved Productivity to Drive Growth

Growth Opportunity 1—Research/Test Validation Pertaining to Reduced MSDs and Improved Productivity to Drive Growth (continued)

Growth Opportunity 2—Geographic Expansion Coupled with Mergers and Acquisitions by Manufacturers to Gain a Competitive Advantage

Growth Opportunity 2—Geographic Expansion Coupled with Mergers and Acquisitions by Manufacturers to Gain a Competitive Advantage (continued)

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Related Research
In 2020, the global industrial exoskeletons market generated a revenue of $62.7 million. Growth is driven by high injury cost and the aging and shrinking skilled workforce in industries. Rest of World (RoW), led by Japan, is the largest market for industrial exoskeletons—it accounted for almost 49.1% in terms of revenue share in 2020. Europe and North America contributed 33.6% and 17.3%, respectively. Japans aging population is the main growth driver. The country has the highest global median age population and the largest share (28.2%) of population aged 65+. Driven by higher acceptance, the RoW market is estimated to grow from $30.8 million in 2020 to $228.2 million in 2025 at a compound annual growth rate (CAGR) of 49.3%. Among the end-use industries, the manufacturing industry (driven by the automotive sector) held the highest revenue share of 59.3% in 2020; it is projected to grow from $37.2 million in 2020 to $271.4 million in 2025 at a CAGR of 48.8%. The transport industry is the second-largest user of exoskeletons, contributing a 32.6% revenue share in 2020. The construction industry accounted for 7.7% in 2020 and is forecast to register a CAGR of 44.7% from 2020 to 2025. Construction industry growth will be driven by the increasing adoption of powered exoskeletons in shipbuilding and marine construction. By product segment, powered industrial exoskeletons constituted a 64.8% revenue share in 2020, and this number is expected to increase to 69.9% in 2025. This trend indicates the growing adoption of powered industrial exoskeletons. This Frost & Sullivan research service analyzes the global industrial exoskeletons market from 2017 to 2025. The market is segmented into passive industrial exoskeletons and powered industrial exoskeletons and both segments are examined in detail (revenue and unit shipment forecast analysis, competitive analysis). Growth opportunities are also analyzed, and the focus is on claims validation (reduced musculoskeletal disorders (MSDs) and improved productivity) and geographic expansion and mergers and acquisitions (M&As). For the total market, growth drivers and restraints are examined, along with new product technology analysis, regional opportunity analysis, standards and regulations, current adoption scenario, and potential risks in terms of exoskeleton usage. Recent use-cases are also studied and revenue and unit shipment forecast and competitive environment are analyzed.
More Information
No Index No
Podcast No
Author Anjan Kumar Roy
Industries Personal Protective Equipment
WIP Number K5B6-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9946-A2,9310,9595