Automotive Robotics Market: Current Analysis and Forecast (2021-2027)

Automotive Robotics Market: Current Analysis and Forecast (2021-2027)

Global Automotive Robotics is anticipated to display a CAGR of around ~12% over the forecast period (2021-2027). The automotive sector is extremely dynamic, forcing automakers to be extremely adaptable. As a result, manufacturers are increasingly implementing smart product systems and flexible logistics systems into their core competencies. For many years, the automotive industry has used industrial robotics in its manufacturing process. Robotic technologies in the automobile sector are more cost-effective, efficient, and safe than their human counterparts since they can complete tasks faster. Reduced operating expenses can be achieved by increasing operational flexibility and reducing raw material wastage and inefficiencies in the workflow, resulting in increased profitability for manufacturers. The existence of numerous major and small size, well-established competitors in the robotics sector makes the global automotive robotics market competitive. Due to the introduction of technologically creative and new products such as collaborative robots, the degree of competition in this market has increased in recent years. Several vendors in this market are also exploring revolutionary technologies using IoT and cloud services. In terms of outstanding product quality, technological advances, durability, and reliability, the worldwide market is predominantly dominated by international, established firms. Local players, on the other hand, are working hard to stay competitive in the market.

Insights Presented in the Report
"Amongst Component, Controller segment dominated the market in 2020”

Based on component, the market is segmented into Controller, Robotic arm, End effector, Sensors, Drive, and Others. The Controller segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. In terms of value, the controller category is predicted to have the greatest market share in 2020. The increased sales of all types of robots that use the controller are a major driver of the industry. Another cause for its dominance is due to its ability to offer high motion control and faster integration with any additional hardware
"Amongst Type, Articulated segment dominated the market in 2020”

Based on type, the market is segmented into Articulated, Cylindrical SCARA, Cartesian, and Others. The Articulated segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Rotary joints are found on articulated robots. Rotary joints can range in complexity from a simple two-joint mechanism to a complicated ten-joint device. The most frequent type of robot utilized in the automotive industry is an articulated robot. High flexibility enables quick process changes, which is why small and medium-sized businesses are embracing articulated robots, resulting in increased global demand
"Amongst Application, Welding segment dominated the market in 2020.”

Based on application, the market is segmented into Welding, Painting, Cutting, Material Handling, and Others. The Welding segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. The rising deployment of welding robots is linked to factors such as improving production line safety and efficiency and boosting the speed of multi-material vehicle production
"Asia Pacific represents the largest market.”

During the projection period, Asia Pacific is expected to have the largest market share in 2020. Asia-Pacific is the world's fastest-growing area, with countries like India, China, Taiwan, and South Korea emerging as regional leaders. Leading vendors such as ABB and KUKA are establishing operations in the region. Furthermore, government laws and subsidies have aided infrastructure improvement projects. These factors have positioned APAC as the preferred automobile manufacturing hub, driving the automotive robotic market. In terms of growth, China and India are the most developed countries in Asia-Pacific, and many sectors, like automotive, electronics, and aviation, are opening facilities in these countries, creating demand for automotive robots and making Asia-Pacific an expanding region. Some of the major players operating in the market include Kawasaki Heavy Industries, Ltd, Fanuc Corporation, Yaskawa Electric Corporation, Abb Ltd, Comau SPA, Nachi-Fujikoshi Corp, Rockwell Automation, Inc, Seiko Epson Corporation, Denso Wave Incorporated and Kuka Ag etc.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Deep dive regional & country-level analysis of the industry