According to the latest report by IMARC Group, titled “Automotive Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global automotive robotics market size reached US$ 9.9 Billion in 2022. Automotive robotics refers to the use of robotic systems in the manufacturing, assembly, and testing of automobiles and other vehicles. These robotic devices are designed to operate for long periods of time for performing specific tasks requiring precision without breaks or downtime, that results in enhancing the efficiency of the overall manufacturing process. Automotive robotics perform tasks with a high degree of accuracy and precision, which is essential for ensuring the quality of the finished product. These robots can perform quality control tests, trim plastic molding, apply paint with speed and precision and assemble various components of a vehicle, including engines, seats, platform and outer body. They are highly adaptable and can be programmed to perform large-scale tasks at a much faster pace than humans, thereby completing a larger number of tasks in a fraction of the time. As a result, they are gaining traction in numerous vehicle assembly facilities across the globe.
Global Automotive Robotics Market Trends:
The global market is majorly driven by the increasing demand for automation in the automotive industry to increase efficiency as well as reduce operation costs. This can be attributed to the rapid expansion of automotive manufacturing facilities along with the rising sales of automobiles across the globe. Moreover, continual technological advancements in robotics technology, such as the integration of the Internet of Things (IoT) and autonomous intelligent vehicles (AIVs) enabling the customization of vehicles to meet individual consumer requirements, are also providing an impetus to the market. In line with this, the advent of collaborative robots or cobots to perform repetitive tasks without taking up floor space is also resulting in a higher product uptake across numerous high-end manufacturing facilities. The market is further fueled by the escalating demand for electric vehicles (EVs) that require innovative manufacturing processes. Apart from this, the growing need for quality control leading to more rigorous and frequent quality checks high precision and accuracy is also creating a positive market outlook. Additionally, an enhanced focus on workplace safety and reduction of accidents due to the increasing incidences of injury and manual errors caused by working under hazardous conditions in the manufacturing facilities is creating lucrative opportunities in the market. Some of the other factors contributing to the market include rapid industrialization, escalating demand for premium and luxury vehicles, strategic partnerships, collaborations and merger and acquisitions (M&As) conducted by key players, inflating disposable incomes, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 19.2 Billion by 2028, exhibiting a CAGR of 11.4% during 2023-2028.
- Based on the product type, the market has been segmented into Cartesian Robots, SCARA Robots, articulated robots, and others. Among these, articulated robot represents the largest market segment.
- On the basis of the component type, the market has been divided into controller, robotic arm, end effector, and drive and sensors. Among these, robotic arm accounts for the dominant market share.
- Based on the application, the market has been categorized into assembly, dispensing, material handling, welding, and others. Between these, welding accounts for the biggest segment in the market.
- On the basis of the end user, the market has been classified into vehicle manufacturers and automotive component manufacturers.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. At present, Asia-Pacific holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include ABB Ltd., Denso Wave Incorporated (DENSO Corporation), Dürr Aktiengesellschaft, FANUC, Harmonic Drive Systems Inc., Kawasaki Heavy Industries Ltd., KUKA Aktiengesellschaft (Midea Group), Nachi-Fujikoshi Corp., Omron Corporation, Seiko Epson Corporation, Yamaha Motor Co. Ltd., and Yaskawa Electric Corporation.
|Base Year of the Analysis
||Product Type, Component Type, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ABB Ltd., Denso Wave Incorporated (DENSO Corporation), Dürr Aktiengesellschaft, FANUC, Harmonic Drive Systems Inc., Kawasaki Heavy Industries Ltd., KUKA Aktiengesellschaft (Midea Group), Nachi-Fujikoshi Corp., Omron Corporation, Seiko Epson Corporation, Yamaha Motor Co. Ltd. and Yaskawa Electric Corporation
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