Pune, India, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The global automotive robotics market size is expected to gain momentum by reaching USD 16.29 billion by 2028 while exhibiting a stellar CAGR of 12.8% between 2021 to 2028. In its report titled “Automotive Robotics Market, 2021-2028,” Fortune Business Insight mentions that the market stood at USD 6.55 billion in 2020 and USD 6.99 billion in 2021. The rising complexity while manufacturing automobile production, the auto manufacturers have increasingly started adopting robots in the manufacturing process.
They use it in assembling plants for functions such as painting and welding. Using robots offer manufacturers the ability to deliver the quality design, increase capacity, reduce warranty costs and protect workers from any kind of accidents. Hence, these factors will influence the growth of the market in upcoming years.
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Protecting Workers Will Augment Market Growth
Sometimes, in automotive manufacturing, few jobs are quite hazardous in nature. For instance, in a foundry, it can be dangerous while pouring molten metal. Some of the work also results in musculoskeletal disorders caused by twisting, lifting, and repetitive motions. To avoid these risks, manufacturers have increased the deployment of robots and this is expected to drive the automotive robotics market growth. As, the robots safeguard workers from exposure to fumes from painting and welding and stamping presses noise and weld flash. Its usage reduces the chances of injury and accidents. Hence, these factors are expected to propel the market during the forecast period.
Key Players to New Launches to Strengthen Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below are the industry developments:
- July 2021 – Comau launched its Comau Next Generation Programming Platform, a protocol that implements the Uniform Robotics Data Interface (URDI) communications standard to streamline robot programming.
- April 2020 – KUKA AG and BMW AG signed a framework agreement to supply around 5,000 robots for new production lines and factories. The several robot models from KUKA AG will be used predominantly in body-in-white production and other technologies.
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Market Segmentation:
By type, the market is bifurcated into, articulated, cartesian, cylindrical, SCARA, and others. By application, the market is segmented into, welding, painting, material handling, assembly/disassembly, and others.
- Based on application, the welding segment held the market share of 37.8% in 2020. This is attributable to its application in enhancing safety and efficiency on the production line. Additionally, it also helps in improving the speed of multi-material vehicle production.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
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Asia Pacific to Dominate Stoked by Existence of Crucial Players in Region
Asia Pacific is projected to stay at the foremost position and hold the market share during the forecast period owing to the growing aging worker population in China and rising labor costs. Therefore manufacturers are adopting robotics in automotive. For instance, in 2019, Byton, the Chinese electric vehicle manufacturer, opened a new manufacturing base in Nanjing that integrates 335 welding robots supplied by KUKA and a 99% automation rate. The region’s market stood at USD 2.88 billion in 2020.
North America is expected to showcase significant automotive robotics market share in upcoming years, owing to the increased investment by major automakers in the U.S., such as Ford, Tesla, and General Motors. Additionally, deployment of robots increases worker productivity; and offers better-paid and higher-skilled work to employees. For instance, according to the International Federation of Robotics, in the U.S., robots installed per 10,000 employees hit a new record of 1,287 units in 2020. Hence, these factors will propel the growth of the market in this region.
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List of Key Players Profiled in Report
- ABB Ltd. (Zurich, Switzerland)
- KUKA AG (Augsburg, Germany)
- FANUC Corporation (Yamanashi, Japan)
- Yaskawa Electric Corporation (Fukuoka, Japan)
- Kawasaki Heavy Industries (Tokyo, Japan)
- Denso Wave Incorporated (Aichi, Japan)
- Comau SPA (Grugliasco, Italy)
- Nachi-Fujikoshi Corp. (Tokyo, Japan)
- Rockwell Automation, Inc. (Wisconsin, U.S.)
- Seiko Epson Corporation (Nagano, Japan)
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