Exoskeleton System Market Report by Component (Hardware, Software), Type (Powered, Passive), Mobility (Stationery, Mobile), Body Part (Lower Body, Upper Body, Full Body), End-Use Sector (Healthcare, Defense, Industrial, and Others), and Region 2024-2032

Exoskeleton System Market Report by Component (Hardware, Software), Type (Powered, Passive), Mobility (Stationery, Mobile), Body Part (Lower Body, Upper Body, Full Body), End-Use Sector (Healthcare, Defense, Industrial, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A1502
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Market Overview 2024-2032:

The global exoskeleton system market size reached USD 1,157.1 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 25,700.7 Million by 2032, exhibiting a growth rate (CAGR) of 39.9% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
USD 1,157.1 Million
Market Forecast in 2032
USD 25,700.7 Million
Market Growth Rate (2024-2032) 39.9%


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

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 shaped the exoskeleton system market outlook.

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. This is further expanding the exoskeleton system market size.

Key Market Segmentation:

IMARC Group 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:

Exoskeleton System Market By Component

  • Hardware 
    • Sensors
    • Actuators
    • Power Sources
    • Control Systems
    • Other Components
  • Software
     

 Breakup by Type:

  • Powered
  • Passive
     

Breakup by Mobility:

  • Stationery
  • Mobile
     

Breakup by Body Part:

  • Lower Body
  • Upper Body
  • Full Body
     

Breakup by End-Use Sector:

  • Healthcare
  • Defense
  • Industrial
  • Others
     

Breakup by Region:

Exoskeleton System Market By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America
     

The report has provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. According to the exoskeleton system market analysis, North America accounted for the largest revenue share. Some of the factors driving the North America market include advancements in research and development, strong focus on industrial applications, and favorable regulatory environment.

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.
     

The companies in the market are adopting various strategic initiatives including new product launches and business alliances to gain a significant exoskeleton system market share.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million USD
Segment Coverage Component, Type, Mobility, Body Part, End-Use Sector, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered 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 and P&S Mechanics Co. Ltd.
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

We expect the global exoskeleton system market to exhibit a CAGR of 39.9% during 2024-2032.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in disrupted supply chains and temporary closure of numerous manufacturing units for exoskeleton systems.

The growing need for exoskeletons in the rehabilitation centers, along with rising prevalence of heart strokes, spinal cord injuries, paralysis, etc., represent some of the factors catalyzing the global exoskeleton market.

Based on the component, the global exoskeleton system market has been segmented into hardware and software, where software currently holds the majority of the total market share.

Based on type, the global exoskeleton system market can be bifurcated into powered  and passive. Currently, powered type dominates the market share.

Based on the end-use sector, the global exoskeleton system market has been divided into healthcare, defense, industrial, and others. Among these, the healthcare sector accounts for the majority of the total market share.

Based on the mobility, the global exoskeleton system market can be categorized into stationery and mobile. Currently, mobile holds the largest market share.

Some of the major players in the global exoskeleton system market include 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 and P&S Mechanics Co. Ltd.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa, where North America currently dominates the global market.

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Exoskeleton System Market Report by Component (Hardware, Software), Type (Powered, Passive), Mobility (Stationery, Mobile), Body Part (Lower Body, Upper Body, Full Body), End-Use Sector (Healthcare, Defense, Industrial, and Others), and Region 2024-2032
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