Automotive Robotics Market Growth Forecast Analysis By 2024
Category: #business  By Ronak Bora  Date: 2021-08-09
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Automotive Robotics Market Growth Forecast Analysis By 2024

Automotive robotics market is growing steadily on the back of expanding automotive industry. Rise in disposable income, especially in the developing countries have significantly raised the demand for passenger, as well as commercial vehicles, which is inducing massive demand for raising automotive production. In addition, increasing demand for premium cars, which require sophisticated production methods is further fueling automotive robotics industry trends.

In manufacturing facilities, manual operations pose high risk of human-related errors. Also, labor costs are gradually increasing, especially in developed economies. Usage of automotive robots not only eliminates risk factors and reduces labor costs, but also facilitates mass production of automotive components. Increasing need for better productivity and proper functioning of assembly lines for vehicle production will foster automotive robotics market size. 

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Automotive robots are predominantly used in welding, painting & dispensing, and handling operations. Benefits offered  easy deployment, light weight, durability & space saving will fuel product penetration. In addition, rise in technological advancements in raw materials used for robot making is likely to increase product demand. Automotive robotics industry size is likely to cross USD 5.96 billion mark by 2024.

Parallel robots have gained relevance in micro-manufacturing automation on account of stiffness, high speed, and flexible fixturing advantages offered by them, which is a key impetus behind automotive industry growth. Parallel automotive robotics market is likely to exhibit a CAGR of over 4% during 2017-2024.

By 2024, need for SCARA robots in the automobile market is estimated to cross 33 thousand units. This growing demand can be attributed to increasing applications in  handling operations and high-speed assembly. Improved quality sensors used in SCARA robots result in low energy consumption and enhanced product handling. Escalating need to reduce bottlenecks and achieve optimum productivity is likely to boost automotive robotics market share.

Robotic controllers are among the commonly used hardware in automotive manufacturing processes and are likely to exhibit growth rate of more than 4% in the analysis period. Robotic controllers are primarily used in industries where repetitive tasks are performed. Space-saving ability, easy installation, and lightweight model options are some of the key features accelerating product demand.

Asia Pacific automotive robotics market was worth approx. USD 2 billion in 2016. The region is at the forefront of motion control technology, which provides unprecedented leverage for industry growth. Moreover, increasing sales of vehicles along with the presence of significant number of vehicle manufacturing facilities across the region is aiding automotive robotics industry growth.

ABB, Fanuc, Yamaha, and KUKA are the key players contributing towards global automotive robotics market growth. Other noteworthy players include Kawasaki Heavy Industries, Omron Corporation, Rockwell Automation, Universal Robots, and Staubli.

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Partial Chapter of the Table of Content

Chapter 4.   Automotive robotics Market, By Product

4.1.   Global market share by product, 2016 & 2024

4.2.   Articulated

4.2.1. Global market estimates and forecasts, 2013 – 2024

4.2.2. Market estimates and forecast, by region, 2013 – 2024

4.3.   Cartesian

4.3.1. Global market estimates and forecasts, 2013 – 2024

4.3.2. Market estimates and forecast, by region, 2013 – 2024

4.4.   SCARA

4.4.1. Global market estimates and forecasts, 2013 – 2024

4.4.2. Market estimates and forecast, by region, 2013 – 2024

4.5.  Parallel

4.5.1. Global market estimates and forecasts, 2013 – 2024

4.5.2. Market estimates and forecast, by region, 2013 – 2024

4.6.   Cylindrical

Charts & Figures

FIG 1    Automotive robotics market segmentation

FIG 2    Industry landscape, 2013 - 2024

FIG 3    Industry ecosystem analysis

FIG 4    Industry impact forces

FIG 5    Competitive landscape, 2016

FIG 6    Porter’s analysis

FIG 7    PESTEL analysis

FIG 8    Market share by product, 2016 & 2024

FIG 9    Market share by component, 2016 & 2024

FIG 10 Market share by application, 2016 & 2024

FIG 11  Market share by region, 2016 & 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/automotive-robotics-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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