The global exoskeleton system market size reached US$ 1.15 billion in 2023. Looking forward, the publisher expects the market to reach US$ 25.70 billion by 2032, exhibiting a growth rate (CAGR) of 41.1% during 2023-2032.
An exoskeleton system is a wearable man-machine mechanism that utilizes human intelligence and machine power to provide mechanical strength to the user. It consists of a powered wearable suit that is designed to improve user safety and enhance the overall efficiency to perform specific tasks. It uses smart algorithms that adjust and adapt according to the human body motions and is equipped with various sensors and electrical connections to control the components. Exo-suits assist in lifting heavy materials and reduce stress on the user’s back muscles and spine. Also, they enable the elderly to walk with ease and prevent fall-related injuries. Currently, these systems find extensive applicability across various sectors including healthcare, military and industrial.
The rising adoption rates of exoskeletons across military and industrial sectors are providing a boost to the exoskeleton system market growth. In these sectors, the systems are custom-fitted according to body parts and are made using fiberglass, carbon fiber and aluminum depending on the strength required. Moreover, they efficiently provide support to multiple joints and detect human movements to initiate the appropriate responses of the exoskeleton actuators, thus boosting the product demand further in the military and industrial sectors.
Sensors
Actuators
Power Sources
Control Systems
Other Components
Software
Passive
Mobile
Upper Body
Full Body
Defense
Industrial
Others
Europe
Asia Pacific
Middle East and Africa
Latin America
SuitX (US Bionics, Inc.)
Gogoa Mobility Robots, S.L.
Exhauss Exoskeleton
Atoun Inc.
Fourier Intelligence Co. Ltd.
Honda Motor Co., Ltd.
Daiya Industry Co. Ltd.
Mitsubishi Heavy Industries Ltd.
Rex Bionics Ltd.
Myomo Inc.
Gobio Robot
Parker Hannifin Corp.
Wandercraft SAS
P&S Mechanics Co. Ltd.
2. What has been the impact of COVID-19 on the global exoskeleton system market?
3. What are the key factors driving the global exoskeleton system market?
4. What is the breakup of the global exoskeleton system market based on the component?
5. What is the breakup of the global exoskeleton system market based on the type?
6. What is the breakup of the global exoskeleton system market based on the end-use sector?
7. What is the breakup of the global exoskeleton system market based on the mobility?
8. Who are the key players/companies in the global exoskeleton system market?
9. What are the key regions in the global exoskeleton system market?
An exoskeleton system is a wearable man-machine mechanism that utilizes human intelligence and machine power to provide mechanical strength to the user. It consists of a powered wearable suit that is designed to improve user safety and enhance the overall efficiency to perform specific tasks. It uses smart algorithms that adjust and adapt according to the human body motions and is equipped with various sensors and electrical connections to control the components. Exo-suits assist in lifting heavy materials and reduce stress on the user’s back muscles and spine. Also, they enable the elderly to walk with ease and prevent fall-related injuries. Currently, these systems find extensive applicability across various sectors including healthcare, military and industrial.
Exoskeleton System Market Trends:
The growing need for exoskeletons in the rehabilitation centers along with the increasing industrial activities across the globe are the key factors driving the market growth. The development of motor-equipped robots to assist human body mechanics is another factor contributing to the market growth. The growing prevalence of heart strokes, spinal cord injuries and paralysis among patients has also driven the demand for exoskeletons in the healthcare sector.The rising adoption rates of exoskeletons across military and industrial sectors are providing a boost to the exoskeleton system market growth. In these sectors, the systems are custom-fitted according to body parts and are made using fiberglass, carbon fiber and aluminum depending on the strength required. Moreover, they efficiently provide support to multiple joints and detect human movements to initiate the appropriate responses of the exoskeleton actuators, thus boosting the product demand further in the military and industrial sectors.
Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global exoskeleton system market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on component, type, mobility, body part, and end-use sector.Breakup by Component:
HardwareSensors
Actuators
Power Sources
Control Systems
Other Components
Software
Breakup by Type:
PoweredPassive
Breakup by Mobility:
StationeryMobile
Breakup by Body Part:
Lower BodyUpper Body
Full Body
Breakup by End-Use Sector:
HealthcareDefense
Industrial
Others
Breakup by Region:
North AmericaEurope
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The global exoskeleton system market is highly fragmented with the presence of several small and large players. Some of the major players in the market are:
Bionik Laboratories Corp.SuitX (US Bionics, Inc.)
Gogoa Mobility Robots, S.L.
Exhauss Exoskeleton
Atoun Inc.
Fourier Intelligence Co. Ltd.
Honda Motor Co., Ltd.
Daiya Industry Co. Ltd.
Mitsubishi Heavy Industries Ltd.
Rex Bionics Ltd.
Myomo Inc.
Gobio Robot
Parker Hannifin Corp.
Wandercraft SAS
P&S Mechanics Co. Ltd.
Key Questions Answered in This Report
1. What is the expected growth rate of the global exoskeleton system market?2. What has been the impact of COVID-19 on the global exoskeleton system market?
3. What are the key factors driving the global exoskeleton system market?
4. What is the breakup of the global exoskeleton system market based on the component?
5. What is the breakup of the global exoskeleton system market based on the type?
6. What is the breakup of the global exoskeleton system market based on the end-use sector?
7. What is the breakup of the global exoskeleton system market based on the mobility?
8. Who are the key players/companies in the global exoskeleton system market?
9. What are the key regions in the global exoskeleton system market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Exoskeleton System Market
6 Market Breakup by Component
7 Market Breakup by Type
8 Market Breakup by Mobility
9 Market Breakup by Body Part
10 Market Breakup by End-Use Sector
11 Market Breakup by Region
12 SWOT Analysis
14 Porter’s Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bionik Laboratories Corp.
- SuitX (US Bionics Inc)
- Gogoa Mobility Robots
- S.L.
- Exhauss Exoskeleton
- Atoun Inc.
- Fourier Intelligence Co. Ltd.
- Honda Motor Co. Ltd
- Daiya Industry Co. Ltd.
- Mitsubishi Heavy Industries Ltd.
- Rex Bionics Ltd.
- Myomo Inc.
- Gobio Robot
- Parker Hannifin Corp.
- Wandercraft SAS
- P&S Mechanics Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1157.1 Million |
| Forecasted Market Value ( USD | $ 25700.7 Million |
| Compound Annual Growth Rate | 41.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
