Automotive Robotics Market can Increase from USD 4.6 billion in 2023 to USD 10.4 billion, at a CAGR of 10.69%
Research Reports
Sep 18, 2023
According to a Comprehensive Research Report by Market Research Future (MRFR), Automotive Robotics Market Information by Product Type, Type, Application, and Region – Forecast till 2032”, During the study period (between 2023 and 2032), the automotive robotics Market can increase from USD 4.6 billion in 2023 to USD 10.4 billion, at a rate of 10.69%.
In order to boost precision, efficiency, flexibility, and dependability on the production line, automakers are implementing robotics into their manufacturing processes. Due to the widespread usage of automotive robotics, the automotive sector is now the most automated sector in the world and one of the biggest consumers of industrial robots.
Additionally, automotive manufacturing robots give automotive firms a competitive edge by enhancing quality, increasing capacity, decreasing warranty costs, and shielding workers from demanding and hazardous activities. Additionally, automotive robots is mostly used in auto assembly factories for tasks like spot welding, painting, and other similar tasks, but there are several other supply chain applications for this technology as well.
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Market Competitive Landscape:
- ABB Group
- Comau SpA
- Denso Wave Incorporated
- Dürr AG
- Fanuc Corporation
- Harmonic Drive System
- KUKA AG
- Kawasaki Heavy Industries (Kawasaki Robotics)
- Nabtesco Motion Control Inc
- Nachi-Fujikoshi Corp
Market Drivers:
For the purpose of competing effectively in the market, many businesses concentrate on automating operational procedures to cut costs, free up time, produce high-quality goods, and boost productivity. In a manufacturing facility, industrial robots automate internal procedures and lighten the workload of people by collaborating with them for increased productivity. Since a long time ago, the automotive sector has employed automation technology, and automation in the sector is progressing.
Additionally, to incorporate these technologies in their manufacturing facility, automobile businesses and their suppliers are collaborating with automation technology firms. For instance, in order to implement the technology in the manufacturing facility, automakers like BMW and Ford Motor Co. are collaborating closely with additive producers. Companies are also using virtual and augmented reality to address the problems in production. Additionally, the automobile sector is concentrating on utilizing industry 4.0, in which interconnected machines communicate with one another and with human operators for effective and seamless operations. As a result, the market for automotive robots is expanding due to increased automation in the automation sector.
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The use of industrial robots in the manufacturing facility gives the car company a competitive edge. The use of automotive robotics in production has a number of benefits, including higher quality, increased productivity, lower warranty costs, the elimination of bottlenecks, and the protection of people from hazardous and arduous occupations. Other than this, when employees are replaced by automotive robotics, the possibility of faulty workflow is decreased, resulting in an increase in output that is both accurate and productive.
Further, robots are used only in auto manufacturing facilities for jobs like spot welding and painting. There are also potential chances to deploy robots throughout the supply chain to boost productivity. Robots also don’t experience end-of-shift fatigue, so the production cycles are constant throughout the day and stability in peak output rates is maintained. As a result, the market for automotive robotics is expanding due to improvements in accuracy, safety, and productivity.
Market Restraints:
A report titled “The State of Industrial Robotics” was released by the Massachusetts Institute of Technology in November 2020. The cost of robot hardware has reduced over the past few years, but the report claims that it still only makes up a small portion of the entire cost of integration in a manufacturing line.
The high cost of integration was cited by a number of businesses as a deterrent to greater deployment. High integration costs are prohibitive to SMEs with smaller production lots, and attempting to integrate new robotic technologies with 15 to 20-year-old infrastructure can weigh down large companies. These factors will therefore limit the market’s expansion.
Market Segmentation
According to Product Type, the Automotive Robotics Market is divided into SCARA Robot, Articulated Robot, and Cartesian Robot.
Hardware, software, and services are included in the Automotive Robotics Market segmentation with respect to the type.
Gripping, Stamping, Welding, Painting, Assembly, and others are included in the segmentation of the automotive robotics market, depending on the application.
Regional Insights
The market leader in this space is North America. A strong workforce and well-developed infrastructure in the area have aided market expansion. The market’s growth in North America has also been supported by the expanding need for automation in the auto industry and supportive government regulations.
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