Germany Exoskeleton Market Insights Forecasts to 2033

• The Germany Exoskeleton Market Size was valued at USD 10.3 Million in 2023.
• The Market Size is Growing at a CAGR of 11.86% from 2023 to 2033.
• The Germany Exoskeleton Market Size is Expected to Reach USD 31.6 Million by 2033

The Germany Exoskeleton Market is Anticipated to Reach USD 31.6 Million by 2033, growing at a CAGR of 11.86% from 2023 to 2033.

Market Overview

Exoskeletons are mechanical devices worn by humans that can assist with certain tasks. Exoskeletons can be passive or powered and are designed to help with activities such as walking or lifting heavy weights. There are different types of exoskeletons. Assistive exoskeletons are designed to help people with disabilities walk or alleviate the physical burden of certain activities. Power-enhancing exoskeletons are meant to increase the user's strength and endurance. Soft exoskeletons are worn on the body and supported by the human's internal skeleton. Additionally, In Germany, a total of 10,360 spinal cord injuries were reported, with an average of 1295 new SCIs each year. Out of these, 7746 patients were male. 6086 patients (58.7%) suffered from a cervical lesion, 3194 (30.8%) from a thoracic lesion, and 1080 (10.4%) from a lumbar lesion which is driving the growth of the Germany exoskeleton market.

Report Coverage

This research report categorizes the market for the Germany exoskeleton based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Germany exoskeleton market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Germany exoskeleton market.

Driving Factors

The demand for robots is influenced by the materials they are made of and how they can be used, as technology advances. Ongoing research and development in electrical and electronic engineering have led to improved materials, sensors, actuators, control systems, and software technologies. These advancements have made it possible to create innovative, lightweight, low-power-consuming, self-powered, less complex, and portable exoskeletons that act as a driver for the Germany exoskeleton market.

Restraining Factors

Users are experiencing difficulty navigating sloping or slippery surfaces. The prototypes cannot yet cope with twisting motions, so users making turns while carrying objects could tire out easily. This could result in adverse events, including skin and tissue damage and bone fractures. As a result, regulatory bodies have established a very tight approval process for such devices to ensure that a wearer's safety is not compromised due to the high-power output of actuators used in them.

Market Segmentation

The Germany exoskeleton market share is classified into components and type.

• The hardware segment is expected to hold the largest market share through the forecast period.

The Germany exoskeleton market is segmented by components into hardware, and software. Among these, the hardware segment is expected to hold the largest market share through the forecast period. The exoskeleton hardware system is made up of electrical, electronic, and mechanical parts, all of which are necessary for constructing a complete exoskeleton. The control system acts as the central processing unit of a powered exoskeleton, analyzing data from the sensor system and using the results of this analysis to direct the actuators accordingly. Controllers are crucial and valuable components of exoskeletons and depending on the complexity of the device, their prices can be high, thus contributing significantly to the overall cost of the exoskeleton hardware system. The hardware components play a significant role in determining the cost of the exoskeleton.

• The passive segment is expected to dominate the Germany exoskeleton market during the forecast period.       

Based on the type, the Germany exoskeleton market is divided into powered and passive. Among these, the passive segment is expected to dominate the Germany exoskeleton market during the forecast period. Passive exoskeletons are most suitable for industrial use, as they can augment the physical strength of a person to lift heavy loads. Typically, these exoskeletons are lighter and more affordable than powered devices. There is a growing demand for passive exoskeletons in the industrial sector to enhance the physical strength of individuals for lifting heavy loads.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Germany exoskeleton market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• RB3D
• Hocoma
• Rex Bionics
• Cyberdyne Inc.
• Rewalk Robotics Ltd.
• Ottobock
• Lockheed Martin Corp
• Ekso Bionics Holdings Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2024, German Bionic has offices in Boston, Berlin, and Tokyo and is excited to announce its collaboration with Servco Pacific Inc., a key player in automotive, commercial, and industrial distribution. This partnership aims to introduce the innovative German Bionic Apogee and Apogee+ smart, robotic exoskeletons to its customer base in Hawai.

Market Segment

This study forecasts revenue at Germany, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Germany Exoskeleton Market based on the below-mentioned segments

Germany Exoskeleton Market, By Component

• Hardware
• Software

Germany Exoskeleton Market, By Type

• Powered
• Passive