Automotive Robotics Market – Global Growth, Trends, and Forecasts (2023-2029)

Automotive Robotics Market was valued at US$ 9.59 Bn. in 2022. The Global Automotive Robotics Market size is estimated to grow at a CAGR of 11.5 % over the forecast period.
Automotive Robotics Market Overview:
The report explores the Automotive Robotics market’s segments (Product Type, Application, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Automotive Robotics market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Automotive Robotics market’s contemporary competitive scenario.To Know About The Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Automotive Robotics Market Dynamics:
Increasing adoption of Automotive Robots in Production Plants:

Automotive Robotics means the use of machines to perform functions that are already performed by humans. It reduces errors and faults rate during the performance of the activity and improves the management of repeatable tasks. These complex systems of machines have spawned five specialized areas: Operator interface, Mobility or Locomotion, Manipulators and Effectors, Programming, and Sensing and Perception. There are different types of robots, like Pre-Programmed robots, which are often used for monotonous tasks. Humanoid Robots look like or mimic human behavior for performing activities such as jumping, running, etc. Autonomous Robots are robots that operate independently of human operators. These are usually designed to carry out activities that do not require human supervision. Some factors such as wage inflation, automotive OEMs, and component suppliers focus on improving all over competitiveness and the increase in the production of vehicles. These factors are increasing the growth of the market.

Several companies majorly focus on reducing costs, saving time, producing high-quality products, and increasing productivity with minimum error rate in the automation industry are driving the market. In the production plant, for automating the internal processes, the automotive robots are deployed to reduce the workload of employees by creating a work collaboration with the workers to improve efficiency. Companies such as Ford Motors Co., BMW. Etc. that are working on introducing technology in the production plant. The adoption of Automotive Robots in the production plant is providing competitive advantages like improving quality, improving capacity, reducing warranty costs, relieving bottlenecks, and reducing the risks to the workers. Replacing automotive robots with workers reduces potential inaccurate workflow, Increases productivity and accurate output. Further, the robots are used for the functions such as painting, spot welding, and others. All these factors are driving the market growth by increasing productivity.

The Increased Initial Installation Cost of the Automotive Robots:

Adoption of Automotive Robots in the production plant increases the profits of the operation by reducing the labor cost of the company and increasing productivity. The cost which is involved in purchasing a robot for a short duration has been more costly than hiring labor for that short duration. The profitability due to automotive Robots can be realized in the long-term adoption of the Automotive robots. Additionally, these robots are also required to undergo routine maintenance and repairs, which results in adding up some extra expense to the company. These high initial installment costs and additional maintenance and repair cost are hindering the growth of the Automotive Robotics Market globally.

Upcoming Opportunities Leading to Increasing Demand for Automotive Robotics:

The upcoming industry 4.0 is creating a new phase for the industrial revolution, which majorly focuses on automation, interconnectivity, and operation with smart digital technology to create an improved connecting ecosystem for the companies working to improve their supply-chain management and manufacturing management. Robotics is an important part of Industry 4.0. With the collaboration of mobiles and robots that will be connected to each other, hence the factories and manufacturing management is dependent on each other.

The involvement of Data analytics, Artificial Intelligence (AI), and cloud computing will improve the industrial robot's performances and make them more reliable during the forecast period. The initial objective for Industy4.0 is to increase efficiency by decreasing time as the robots are being installed with more numbers which would increase the connectivity of the robots and reduce the susceptibility to disruptions. Thus, Industry 4.0 is creating a huge growth opportunity for the motive Robots during the forecast period.

Automotive Robotics Market Trends:

The advancement in technology is creating new trends in the automotive industry for the Autonomous Intelligence vehicle, mobile robots for the and intermediate goods transports are encouraging the Automotive Robotics growth. Wage inflation, automotive OEMs, and component suppliers focus on improving all over competitiveness and the increase in the production of vehicles. These factors are increasing the growth of the market. Some of the companies majorly focus on reducing costs, saving time, producing high-quality products, and increasing productivity with minimum error rate in the automation industry are driving the market. The upcoming industry 4.0 is creating a new phase for the industrial revolution, which majorly focuses on automation, interconnectivity, and operation with smart digital technology to create an improved connecting ecosystem for the companies working to improve their supply-chain management and manufacturing management. Hence these are the major factors that are driving the growth of the market.
Automotive Robotics Market Segment Analysis:
Based on Type, the Automotive Robotics Market is segmented into Articulated Robotics, Cartesian Robots, Cylindrical Robots, SCARA Robots. Articulated robots will account for over 55% of the automotive robotics market revenue share by 2029 driven by their increased usage in welding, material removal, material handling, and dispensing. They normally have four to six axes, but with increased technology and research, they may have up to ten axes, increasing their versatility. This improves the company's productivity by increasing accuracy and speed. Because of their longer shelf life, the prices of these products are decreasing. Due to handling and high-speed assembly activities, SCARA robots are projected to be widely adopted. SCARA robots will be accepted due to increased throughput and fewer bottlenecks. Micro-manufacturing automation is a major driver of demand in the parallel robot industry. Multiple end-users have benefited from the innovations in these items.

Based on Application, the Automotive Robotics Market is segmented into Welding, Painting, Material Handling, Assembly/Disassembly, and others. The Material Handling operations application segment is anticipated to showcase a significant growth at over 7.5% through 2029 impelled by its growing installation in vehicle manufacturing plants. Software, vision, and gripper technology advancements will make handling tasks easier. The product must lift large quantities of heavy materials and transport partially constructed automobiles from one manufacturing line to another for additional processing. The robotic assembly segment accounted for more than 22% market share in 2022. Increased powertrain and body-in-white assembly applications have further enhanced the scope of the automotive robotics market. In addition, almost 90% of automated operations are done by the machine in final assembly.
Automotive Robotics Market Regional Insights:
The Asia Pacific region held the largest market share accounting for 67% in 2022. As the Asia Pacific region is a rapidly growing industry with countries such as India, China, Taiwan, and South Korea. China and India are the most advanced countries in the Asia Pacific region with increasing Automotive, Electronic, and Aviation industries resulting in the increasing market shares that the Asia Pacific region is holding in the Automotive Robotics Market Globally. The increase in population and the advancement in the manufacturing management sectors of the industries.

The North American region is expected to witness significant growth at a CAGR of 11.5% through the forecast period. Increasing Modernization and urbanization are leading to technological advancements in the manufacturing sector. The increase in the uses of Artificial Intelligence (AI), Data Analytics, and Cloud computing is increasing the efficiency of work with very low error and fault rates. Hence the North American region is expected to witness significant growth in the Automotive Robotics Market.

The objective of the report is to present a comprehensive analysis of the global Automotive Robotics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Automotive Robotics Market dynamic and structure by analyzing the market segments and projecting the Automotive Robotics Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Robotics Market make the report investor’s guide.
Automotive Robotics Market Scope: Inquire before buying



Automotive Robotics Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 9.59 Bn.


Forecast Period 2023 to 2029 CAGR:
11.5 %
Market Size in 2029:
US $ 20.55 Bn.


 Segments Covered:
by Product Type
Articulated Robots
Cartesian Robots
Cylindrical Robots
SCARA Robots
Others


by Application
Material handling
Assembly/Disassembly
Welding
Painting
Cutting


by Component
Controller
Robotics Arm
End Effector
Drive
Sensor



Automotive Robotics Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Automotive Robotics Market Key Players:
1. ABB
2. KUKA
3. Denso Wave
4. Yaskawa Electric
5. Kawasaki Heavy Industries
6. COMAU
7. Nachi-Fujikoshi
8. Rockwell Automation
9. Seiko Epson
10.FANUC
11.Harmonic Drive System
12.Nabtesco Motion Control, Inc.
13.Nachi-Fujikoshi Corp.
14.Yasakwa Electric Corporation
15.Fanuc Corporation
16.Dürr AG
17.Omron Corporation (Adept Technology, Inc.)
18.Kawasaki Heavy Industries (Kawasaki Robotics)
19.Comau SpA
20.Universal Robots
21.Stäubli
22.Yamaha Robotics

Frequently Asked Questions:

1. Which region has the largest share in Global Automotive Robotics Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Automotive Robotics Market?
Ans: The Global Automotive Robotics Market is growing at a CAGR of 11.5% during forecasting period 2023-2029.

3. What is scope of the Global Automotive Robotics market report?
Ans: Global Automotive Robotics Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Automotive Robotics market?
Ans: The important key players in the Global Automotive Robotics Market are – ABB, KUKA, Denso Wave, Yaskawa Electric, Kawasaki Heavy Industries, COMAU, Nachi-Fujikoshi, Rockwell Automation, Seiko Epson, FANUC, Harmonic Drive System, Nabtesco Motion Control, Inc., Nachi-Fujikoshi Corp., Yasakwa Electric Corporation, Fanuc Corporation, Dürr AG, Omron Corporation (Adept Technology, Inc.), Kawasaki Heavy Industries (Kawasaki Robotics), Comau SpA, Universal Robots, Stäubli, and Yamaha Robotics

5. What is the study period of this market?
Ans: The Global Automotive Robotics Market is studied from 2022 to 2029.