Exoskeleton Market (By Mobility: Mobile, Fixed/Stationary; By Technology: Powered, Non-powered; By Extremity: Upper Body, Lower Body, Full Body; By End-use: Healthcare, Military, Industry) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global Exoskeleton market size was valued at USD 250.9 million in 2020, and is predicted to be worth around USD 1.2 billion by 2030, registering a CAGR of 17.0% during the forecast period 2022 to 2030.

Growth Factors

Rapidly growing global geriatric population, increasing incidences of road accidents, rising prevalence of stroke is boosting the adoption of exoskeleton products and driving the market growth. As per National Safety Council data estimates in March 2021, 42,060 individuals have died in road accidents in 2020 and accounted for an increase of 8% as compared to 2019. Furthermore, the market is expected to witness the emergence of smarter & more competent exoskeletons through the integration of artificial intelligence and machine learning algorithms.

The mobile exoskeleton segment dominated in 2021 and is anticipated to grow lucratively over the forthcoming years owing to the emergence of innovative mobile exoskeletons for the disabled communities and geriatric population. Although, high costs and complications associated with mobile systems are expected to restrain the segment growth. The powered technology segment dominated in 2021 owing to the widespread adoption of powered exoskeletons for rehabilitation aid in patients suffering from spinal cord injuries.

Report Coverage

By Mobility Analysis

The mobile segment dominated the market for exoskeleton and accounted for the largest revenue share of 60.7% and largest volume share of 61.7%. The mobile segment is anticipated to register the fastest growth rate over the forthcoming years. 

This significant market share and lucrative growth rate is attributable to the surge in demand for motor-equipped robots for aiding human body mechanics and rise in research and development activities.

Key participants are constantly introducing innovative solutions for various industries which support worker/user’s health, boost productivity, reduce fatigue, and minimize risks of serious injuries. The growth witnessed by stationary exoskeleton technologies is due to the growing usage of stationary system in rehabilitation centers.

By Technology Analysis

The powered technology segment dominated the market for exoskeleton and accounted for the largest revenue share of 74.7% and volume share of 67.6% owing to the rising implementation of powered exoskeleton solutions in several industries to enhance personal safety and boost productivity.

Non-powered or passive technology segment is anticipated to register the fastest growth rate over the forthcoming years owing to the growing number of innovative product launches. For instance, in December 2020, Hilti partnered with Ottobock SE to launch EXO-O1, a passive exoskeleton used by the construction industry. 

By Extremity Analysis

The lower body segment dominated the market for exoskeleton and accounted for the largest revenue share 43.3% and volume share of 53.5% owing to the alarming rise of lower body disabilities and growing adoption rates of exoskeleton products by paralyzed and geriatric population for stability, mobility, and weight-bearing capabilities.

The upper body segment is anticipated to register the fastest growth rate over the forthcoming years owing to the benefits provided by exoskeleton products in upper extremities such as supporting disabled communities and rehabilitation aid in post-stroke, neurological, or musculoskeletal impairments. 

By End-use Analysis

The healthcare segment dominated the market for exoskeleton and accounted for the largest revenue share of 51.3% and volume share of 51.8% owing to the rising incidence rate of Spinal Cord Injuries (SCIs), widespread adoption of these products and solutions in rehabilitation centers, and significant surge in treatment numbers are some of the key driving factors.

On the other hand, the industry segment is anticipated to register the fastest growth over the forthcoming years owing to the rising awareness levels towards the benefits associated with exoskeleton technologies in several industry applications and rapidly growing incidence rate of occupation-related injuries.

By Regional Analysis

North America dominated the market for exoskeleton and accounted for the largest revenue share of 47.0% and volume share of 28.4% owing to the growing prevalence of disabled individuals, rising expenditure on research activities, growing public and private support, increasing number of partnerships & collaborations amongst key participants, and availability of technologically advanced products.

Asia Pacific is anticipated to register the fastest growth rate over the forthcoming years owing to growing patient pool requiring rehabilitation support. Developing & advancing healthcare infrastructure, availability of government support and funding are driving the development and growth of the market for exoskeleton in Asia Pacific. 

Key Players

• Ekso Bionics

• Hocoma

• Lockheed Martin Corporation

• Suit X (U.S. Bionics, Inc.)

• Rex Bionics Plc.

• RB3D

• ReWalk Robotics Ltd

• Cyberdyne, Inc.

• ActiveLink (Panasonic Corporation)

Market Segmentation

• By Mobility 

  • Mobile

  • Fixed/Stationary

• By Technology 

  • Powered

  • Non-powered

• By Extremity

  • Upper Body

  • Lower Body

  • Full Body

• By End-use 

  • Healthcare

  • Military

  • Industry

•  Regional

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • Spain

    • Italy

    • France

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

The Exoskeleton market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Exoskeleton market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Exoskeleton market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Exoskeleton market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Exoskeleton market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Exoskeleton capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Exoskeleton by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Exoskeleton market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Exoskeleton market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Exoskeleton market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Exoskeleton industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Exoskeleton market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Exoskeleton market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Exoskeleton market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Exoskeleton market. These factors have benefited the growth of the global market for Exoskeleton. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Exoskeleton. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Exoskeleton are as follows:

• History Year: 2019-2020

• Base Year: 2021

• Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2019-2021) and forecast (2022-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.