Automotive Robotics Market 2022 Technology and Innovations Changing the Industry

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The automotive robotics market size is expected to surpass around US$ 20.3 billion by 2030 from valued at US$ 5.6 billion in 2020, growing at a CAGR of 14.8% from 2021 to 2030.

Growth factors

The global automotive robotics market is still in its growth stage. The rising need to increase productivity and enhance work environment by reducing industrial accidents and improving employee safety is driving the market for automotive robotics globally. The market is expected to record promising growth in the coming years, primarily owing to rising technology research and development and a push for sustainable production process coupled with the need to reduce operation costs in an automobile production plant. Additionally, increasing investments in automated production facilities and high investments in emerging markets is set to have positive impact on the global market growth. Further, factors such as attenuation of the time required to market the product, lack of skilled labor accompanied with innovation in the developed automobile manufacturing countries are likely to bolster the market growth from 2021 – 2030.

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The automotive industry is highly dynamic, requiring extreme flexibility from auto manufacturers. Thus the manufacturers are increasingly expanding their core competencies by incorporating smart product systems and flexible logistics systems. The automotive industry has been making use of industrial robotics in their production process for many years now. Robotic systems in the automotive industry are cost effective, efficient and safe as they are capable of discharging their job quicker than their human counterpart. The reduction in operating costs can be achieved by improving operational flexibility along with minimizing raw material wastage and errors in the workflow, which in turn enhances the profitability of the manufacturers.

By Product Analysis

China Manufacturing 2030 strategy includes various sectors that receive attention in which high-end numerical control machinery and robotics are also included.

The demand for articulated robotics is expected to grow at the highest CAGR of 17.4% from 2021 to 2030. The articulated robot is widely used in the assembly line as they are highly flexible than the other robots’ due to the number of axes present.

Other robots such as cartesian, cylindrical, and polar are employed in painting, and pick & place applications will require small payload but a large movement range.

By Application Analysis

The welding application segment is expected to grow at a CAGR of 14.3 % over the forecast period. The automotive industry utilizes robots extensively for spot welding and with the increased demand for automotive, the use of robots in the welding process has also increased.

The material handling segment was estimated at USD 1,005.7 million in 2021 and is expected to grow at a CAGR of 14.9% over the forecast period, 2021 to 2030.

By Regional Analysis

Asia Pacific automotive robotics market was valued at USD 3,509.5 million in 2021. Due to rising labor costs and the aging population in China, the country is concentrating on encouraging domestic manufacturing through automation rather than offshore manufacturing. North America market for automotive robotics is estimated to grow at a CAGR of 15.9% over the forecast period, 2021 to 2030.

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Key Players

The major players operating in the global automotive robotics market include, ABB Group, KUKA AG, Fanuc Corporation and Yaskawa Electric Corporation. Other prominent players in the market are Kawasaki Robotics, Omron Adept Technologies, Inc., Denso Robotics, Apex Automation and Robotics, Epson Robotics, Nachi Robotic Systems Inc. Mitsubishi Electric Corporation and TM Robotics Ltd. among others.

Highlights

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Market Segmentation

  • By Product
    • Articulated
    • Cartesian
    • Cylindrical
    • Polar/Spherical
    • SCARA
  • By Application
    • Assembly
    • Dispensing
    • Material Handling
    • Welding
    • Others
  • Regional
    • North America
      • The U.S.
      • Canada
    • Europe
      • Germany
      • France
      • The U.K.
    • Asia Pacific
      • China
      • Japan
      • Korea
      • Taiwan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

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

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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