Automotive Robotics Market

Automotive Robotics Market

Growth Factors of Automotive Robotics Market

The automotive robotics market size was valued at USD 8.82 billion in 2023, and the market is now projected to grow from USD 9.92 billion in 2024 to USD 26.76 billion by 2032, exhibiting a CAGR of 13.2% during the forecast period of 2023-2030.

Covid-19 pandemic has hindered the supply chain and restricted the people to their homes which has lowered the buying of automobiles. Lockdown enacted in numerous nations have hindered the manufacturing and caused transportation delays. In addition, worldwide restrictions have caused a halt in economic activities. Despite the challenges of covid pandemic, the battery plate sector has proven to be robust. Although the construction of electric vehicle has been delayed due to shortage of man power and procurement concerns of raw material.

Increases in the quality of automotive manufacturing will propel automotive robotics market growth. Robots in auto factories help to reduce part-to-part variability. They never become weary or distracted, so they can repeat each cycle exactly the same manner every time. They don't drop or handle things in a way that could damage them. As a result, waste brought on by human error is removed, which also reduces variability in car assembly. Automotive robots can even modify preprogrammed pathways to accommodate differences in arriving materials because they are outfitted with vision systems. This reduces warranty costs, increases customer happiness, and results in fewer errors. Therefore, improvements in the quality of automobile manufacturing will propel market expansion. Safeguarding employees will increase automotive robotics market growth during projected period. Many of the occupations in the car manufacturing industry are dangerous. For example, pouring molten metal presents a clear risk in a foundry. Musculoskeletal diseases brought on by repetitive motions, lifting, and twisting can also arise from certain jobs. Robots can assist in lowering these dangers. Robots protect workers from noise, weld flash, and odors from stamping, welding, and painting presses while vehicles are being assembled. Because automotive robots reduce worker exposure to hazardous settings and dirty tasks, it significantly lowers the number of injury claims and accidents. Thus, the expansion of the automotive robots market will be driven by these factors.

A notable increase in the use of robots by manufacturing SMEs will have a positive impact on growth. The CEO of Bigwave Robotics, Minkyo Kim, stated that large and medium-sized manufacturing companies were the main users of robots. However, adoption of robotic solutions is growing among small-to-medium-sized businesses (SMEs) as they become more affordable and user-friendly.

Comprehensive Analysis of Automotive Robotics Market

The automotive robotics market and automotive industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by types, by application. The types segmentation includes, Articulated, Cartesian, Cylindrical, SCARA, Others, while by Application segmentation include Welding, Painting, Material Handling, Assembly/Disassembly, others.

The Asia Pacific region lead the automotive robotics market by benefitting a market size of USD 3.93 billion in 2023 due to Increases in the quality of automotive manufacturing and increase in the use of robots by manufacturing SMEs.

The top players in the market play a crucial role in the automotive industry assuring industrial prospectus growth and setting market standards. These prominent players include, ABB Ltd. (Zurich, Switzerland), KUKA AG (Augsburg, Germany), FANUC Corporation (Yamanashi, Japan), Yaskawa Electric Corporation (Fukuoka, Japan), Kawasaki Heavy Industries (Tokyo, Japan), Denso Wave Incorporated (Aichi, Japan), Comau SPA (Grugliasco, Italy), Nachi-Fujikoshi Corp. (Tokyo, Japan), Rockwell Automation, Inc. (Wisconsin, U.S.), Seiko Epson Corporation (Nagano, Japan) these market players provide a level-playing competitive landscape across the globe.

In August 2023, KUKA AG declared its intention to launch two robotics education systems. The supplier of industrial automation also intends to demonstrate additive manufacturing products and metalworking technology alongside partners. According to organizer SME, FABTECH is the largest metal forming, fabrication, welding, and finishing event in North America. From September 11 to 14, KUKA will have product demonstrations at Booth B27051 at McCormick Place in Chicago.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 13.2% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type

- Articulated

- Cartesian

- Cylindrical

- SCARA

- Others

By Application

- Welding

- Painting

- Material Handling

- Assembly/Disassembly

- Others

By Geography

- North America (By Type, By Application)

• U.S.
• Canada
• Mexico

- Europe (By Type, By Application)

• U.K.
• Germany
• France
• Rest of Europe

- Asia-Pacific (By Type, By Application)

• China
• Japan
• India
• South Korea
• Rest of Asia Pacific

- Rest of the World (By Type, By Application)


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