Automotive Robotic Market

Automotive Robotic Market Size (2023-2028):

The Global Automotive Robotic Market was worth US$ 8.89 billion in 2022 and is anticipated to reach a valuation of US$ 16.8 billion by 2028 and is predicted to register a CAGR of 11.45% during 2023-2028.

Robotics is the division of science and engineering that includes mechanical, computer science, electrical, and engineering streams. Robotics can complete the construction, operation, design, and utilization of robots. This technology can create machines that can take the place of people.

Automotive robots are made to support the manufacture of automobiles in the automotive industry. The automotive industry is the largest industry globally. 126000 units are installed globally, 95% of top automotive companies with revenue greater than 11 billion dollars it is expected that there will be high growth in robotics and automation during the forecast period. Moreover, 80% of the automotive industry lacks faster change to raise revenue, safety, and profit. This is an opportunity for robot manufacturers.

Nowadays, the automotive industry uses industrial robotics in the production process. Articulated robots accounted for a significant portion of the automotive industry and by function, welding has extensive use of robots in the automotive industry. Robotics system used in the automotive industry is efficient, safe, and cost-effective and they are capable of discharging their job faster than their human work.

Market Drivers:

Automotive robots have several applications such as commercial and household. Commercial robots are being used in various industries including medicine, agriculture, military, and automotive. Articulated robots took a prime share in automotive robotic products. 

Producers are acquiring this technology for many reasons such as quality, safety, and producing capacity. Automotive robotics helps in reducing the waste caused by human errors. Auto producers make efforts to maintain consistent time and control processes at every stage of the assembly line.

Vehicle-producing processes consist of various dangerous tasks that lead to musculoskeletal disorders due to lifting, repetitive movements, and twisting. This prevents human risks by keeping away from welding and paints which will increase the growth of the automotive robotics market.

Market Restraints:

High installation costs will restrain the growth of the automotive robotics market., Automation pushes unemployment which will hamper the growth of the market.

Market Recent Developments:

• ABB is a leading supplier of robotics and a robotic supplier has announced the acquisition of SVIA, a provider in the market of robot automation cells for machine tending. This acquisition will increase ABB portfolios such as automotive, electronics, and smartphone manufacturing.

• KUKA Robotic has launched 3D model printing robotic technology at FABTECH. It is a powerful combination for designing lightweight and inexpensive components.

AUTOMOTIVE ROBOTIC MARKET REPORT COVERAGE:

Market Segmentation:

Automotive Robotic Market - By Product:

• Articulated
• SCARA
• Parallel
• Cylindrical
• Cartesian.

Articulated robots are showing dominance in this segment due to increasing usages of material handling, material removal, welding, and dispensing. It is expected to take 35% of automotive robotic market revenue by 2024. Articulated robots are increasing productivity with high accuracy in companies. Micro-manufacturing is a key factor that contributes to the parallel robot segment demand.

Automotive Robotic Market - By Component:

Hardware:

1. Aarms

2. Controllers

3. End Effectors

4. Drive and Sensor

Software and Service:

Software and services will dominate this segment by taking 27% market share by 2024, due to cloud-based platforms, which will increase the growth of the market.

Automotive Robotic Market - By Application:

• Welding
• Handing Operations
• Assembly
• Paints and Coatings.

Handling operations dominated this segment taking 5.5% market share by 2024, due to increasing installation in vehicle-producing plants. This product is required to lift heavy material in bulk quantities and transfer assembled vehicles from assembly vehicle one to another.

Market Regional Analysis:

The Globa Automotive Robotic Market Report includes the segmentation of regions:

• North America - U.S., Canada
• Europe - Norway, Germany, Sweden
• Asia Pacific - China, India, Japan
• Latin America - Brazil, Mexico, Argentina
• Middle East and Africa - Middle East, Africa

Asia Pacific automotive robotics market leads revenue to share globally. It was worth USD 2509.8 million in 2017 because of increasing labour costs and the ageing population in China. China's automotive robotic market has increased in the past five years due to Automobile 4.0, covering packaging machinery, welding, hydronic, IPS drives, and fluid power. Korea and Japan are leading countries in using automotive robotics.

North America is estimated to grow at a compound annual growth rate of 13.7% during the forecast period, and revenue was USD 1 billion in 2017. This region shows the fastest growth due to robotization, automation, and modernization.

The Europe automotive robotic market is led by Italy and Germany. It is estimated to grow at a compound annual growth rate of 3.5% from 2018 to 2025. Due high presence of a strong automobile industry in this region. in this region most of the countries suffering from economic recession such as Austria, Netherlands, Spain, and Finland, retrieval of will increase demand for market growth.

Market Key Players:

1. KUKA
2. ABB
3. FANUC
4. Rockwell
5. Kawasaki Heavy Industries
6. Yaskawa
7. Comau
8. Denso Wave
9. Omron Corporation
10. Universal Robots