Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Robotics Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Robotics Market size is projected to reach US$ 16.55 Billion by 2030 from US$ 8.04 Billion in 2023, growing at a CAGR of 10.86% during 2024-2030
Robots have become an increasingly useful in the automotive industry. Engineers are finding new uses for them on account that they're specific and efficient. The automobile industry is one of the global maximum automatic supply chains, and robots play a crucial part. Currently, 30% of overall investments within the industry sector are allocated towards automotive robotics. This makes the automotive industry the crucial area in incorporating commercial robots worldwide.
Market increase is boosted by rapid technological progressions, which involve incorporating the Internet of Things (IoT), cloud solutions, and Autonomous Intelligent Vehicles (AIVs) to transfer components and materials from one area to another other securely. To meet the 2030 objectives, government worldwide need to increase low- or zero-emission vehicles. This will require revolutionary technologies like 'smart sensors' cognitive and collaborative robots. Automation of new generations of motors may be vital, and it will ought to be speedy and massive.
In recent decades, reducing operating expenses were achieved via growing operational flexibility and reducing raw material wastage and inefficiencies in the workflow, ensuing in accelerated profitability for manufacturers. Numerous substantial, small-sized, well established competitors in the robotics sector make the global automotive robotics market competitive.
Due to the introduction of technologically innovative and new products inclusive of collaborative robots, the degree of competition on this marketplace has expanded in last few years. In the year May 2015, 'Made in China 2025' a development approach announced by the Government of China. Its objectives to enhance China's worldwide competitiveness and make it a key technological force by 2025 via innovation and restructuring of the production segment.
Industry 4.0 is the modern-day segment of the economic revolution, emphasizing automation, real-time records, interconnectivity, and machine learning. It entails using smart virtual technology to improve manufacturing and supply chain control. Robotics, AI, data analytics, and cloud computing are quintessential to Industry 4.0, making commercial robots more dependable and efficient. The goal is maximum efficiency with zero downtime, which creates increase opportunities inside the automotive robotics market.
Robotic Arm has captured maximum of the market percentage
By Components, the Automotive Robotics Market is divided into Controllers, Robotic Arms, End Effectors, Sensors, Drives, and Others.
The global automotive robotics market is predominantly led via robot arms, securing maximum of the market share. This dominance displays the integral position robotic hands play in automobile manufacturing approaches. Renowned for their precision, speed, and adaptableness, robot arms are instrumental in welding, painting, and assembly tasks.
As the automotive industry increasingly more embraces automation for efficiency and fineness, the full-size utilization of robot arms underscores their pivotal contribution to shaping the panorama of automobile robotics globally. Robotic arms are relatively versatile tools that play a key position in advancing the automobile industry's manufacturing abilities. They are a vital part of the manufacturing system, and their adaptability allows for progressed performance and precision in production.
Articulated Robots will maintain more than half of the market percentage in the coming years
By Type, the automotive robotics market is segmented into articulated robots, cylindrical robots, scary robots, Cartesian robots, and others.
As generation advances, articulated robots discover their niche in automobile manufacturing, streamlining manufacturing traces with precision and efficiency. These versatile robots seamlessly navigate complex responsibilities, from welding and painting to assembly and quality control. Their agility and adaptability make them fundamental in the market that demands velocity, accuracy, and scalability.
With the upward push of electrical and autonomous automobiles, the demand for articulated robots is poised to surge similarly, driving innovation and reshaping the panorama of automotive production. The symbiotic relationship among the automotive market and articulated robots underscores a pivotal alliance, propelling each sector right into a future of automation and sensible manufacturing.
The material handling sector is expected to grow in the Automotive Robotics Industry
By Application, Automotive Robotics Market is classified into Material Handling, Welding, Painting, Cutting, and Others.
Forecasts indicate notable expansion within the Automotive Robotics Market's material handling segment. This surge in growth underscores the pivotal role of robotics in revolutionizing how materials are managed and processed in the automotive industry. As demand for automation intensifies, particularly in manufacturing and assembly processes, the material handling segment is poised for substantial development.
Innovations in robotic technology are set to enhance efficiency and precision, contributing to the evolution of automotive manufacturing. This trajectory reflects the industry's commitment to harnessing advanced technologies, ensuring a dynamic and efficient future for automotive robotics in material handling applications.
China Automotive Robotics Market is anticipated to exhibit significant growth during the forecast period
China's automotive industry is expected to grow appreciably due to the growing adoption of robotics. Automation integration aligns with China's dedication to technological development and offers an option to challenges posed by labor costs.
The United States leads the automotive robotics market, adopting robotics for responsibilities from material handling. This reflects the country commitment to advancing automation, enhancing efficiency, and maintaining a competitive facet inside the manufacturing sector. The US remains at the forefront of integrating modern-day robotics technology and shaping the worldwide automobile marketplace.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 210 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $8.04 Billion |
| Forecasted Market Value (USD) by 2030 | $16.55 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Company Analysis: Overview, Recent Developments, Revenues
- ABB
- Fanuc Corporation
- Rockwell Automation Inc.
- Yaskawa Electric Corporation
- Kuka AG
- Kawasaki Heavy Industries, Ltd
- Harmonic Drive Systems Inc.
- Omron Corporation
- Yamaha Motor Co. Ltd
Component - Market breakup from 6 viewpoints
- Controller
- Robotic Arm
- End Effector
- Sensors
- Drive
- Others
Type - Market breakup from 5 viewpoints
- Articulated Robots
- Cylindrical Robots
- Scara Robots
- Cartesian Robots
- Others Robots
Application - Market breakup from 5 viewpoints
- Material handling
- Welding
- Painting
- Cutting
- Others
Country - Market breakup from 21 viewpoints
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Switzerland
Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Australia
Latin America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
Rest of the World
For more information about this report visit https://www.researchandmarkets.com/r/9eddwb
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
