Automotive Robotics Market Growth & Trends
The global automotive robotics market size is expected to reach USD 42.27 billion by 2030, registering a CAGR of 17.6% from 2024 to 2030. The increasing adaptation of automation and robotics within the automotive industry is a major factor expected to drive market growth.
Industrial revolutions and initiatives taken by the government regarding the automation of manufacturing sectors boost the sales of automotive robots. The governments are providing tax exemptions for R&D and providing tax cuts which will reduce the cost of manufacturing and improve the manufacturing opportunities in the countries rather than going for offshore manufacturing.
Articulated robots are expected to grow over the forecast period due to their flexibility and various operations that can be performed by the six axes robots. It can be used for various applications such as welding, material handling, dispensing and material removal applications and the robot has a large work envelope. Articulated robots are growing at a CAGR of 14.4% over the forecast period.
The welding application segment holds the largest share of the automotive robotics market in 2016 and is expected to reach over USD 5.0 billion by 2025. Robots are being employed in different aspects of the production line due to their large work envelope. Automotive manufacturers widely used robots for spot welding in vehicles.
Automotive Robotics Market Report Highlights
- The global automotive robotics market accounted for USD 13.06 billion in 2023 and is projected to grow at a CAGR of 17.6% from 2024 to 2030.
- The articulated segment dominated the market and accounted for a share of 55.9% in 2023. With their multi-jointed arms and dexterity, articulated robots are essential for performing complex tasks such as welding, assembly, and painting with high precision
- The Asia Pacific market is projected to witness substantial growth over the next decade owing to the growing adoption of automation in the manufacturing sector. The Asia Pacific automotive robotics market accounted for the largest market revenue share of 58.1% in 2023
- Small and medium-sized enterprises in Europe are also adopting automation due to the initiatives taken by the European Union to produce affordable, easy to install, and modular robots. This initiative is anticipated to act useful to the SMEs in their manufacturing process and reduce the production time and labor costs. Several manufactures such as ABB and Kuka AG have launched robotic arms and collaborative robots for SMEs.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Automotive Robotics Market Variables, Trends, & Scope
Chapter 4. Automotive Robotics Market: Product Estimates & Trend Analysis
Chapter 5. Automotive Robotics Market: Application Estimates & Trend Analysis
Chapter 6. Automotive Robotics Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- ABB Ltd
- Acieta, LLC.
- Comau S.p.A.
- Denso Corporation.
- Epson America, Inc.
- FANUC CORPORATION
- Kawasaki Heavy Industries, Ltd.
- KUKA AG
- Mitsubishi Electric Corporation
- Nachi-Fujikoshi Corp.
- Neura Robotics GmbH
- Omron Adept Technologies, Inc.
- Stäubli International AG
- Universal Robots A/S.
- Yaskawa Electric Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 13.06 Billion |
| Forecasted Market Value ( USD | $ 42.27 Billion |
| Compound Annual Growth Rate | 17.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
