The new report by Expert Market Research titled, ‘Global Automotive Robotics Market Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Automotive Robotics Market, assessing the market based on its segments like major products, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 10%
In the global market for automotive robots, Asia Pacific has emerged as the regional leader, and this trend is expected to continue over the forecast period. It is expected to be the fastest-growing market, with key countries like China, India, Taiwan, and South Korea emerging in the region as a result of government policies and funding that has improved infrastructure. As a result, the automotive robots sector will be driven by this region’s emerging manufacturing hub.
The articulated robot segment, by product, is expected to develop at the fastest rate and maintain its market position over the projection period. The most common type of automotive robot utilised in the industry is an articulated robot. This is due to the rotary joint mechanism’s ability to provide flexibility in the changeover process. It could be based on a simple two-joint mechanism or a more complicated one with more joints. Articulated robots are mostly used in assembly line operations and can be found in a variety of sectors depending on the design. The whole automotive robotics sector is predicted to develop in response to rising demand for automotive robotics.
Industry Definition and Major Segments
Automotive robotics is a field that provides computer-programmed technical solutions enabling robots to do complicated jobs automatically. In the manufacturing business, these robots are used to perform repetitive duties on assembly lines. They are rudimentary mechanical robots with basic functions.
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Based on products, the market can be broadly divided into:
• Articulated Robot
• Cartesian Robot
• Cylindrical Robot
• Polar/Spherical Robot
• SCARA Robot
The Automotive Robotics Market can be broadly divided based on its applications into:
• Material Handling
On the Basis of region, the market can be divided into:
• North America
• Asia Pacific
• Latin America
• The Middle East and Africa
The growing number of automated production hubs around the world is propelling the global market for automotive robots. Several governments have taken initiatives and adopted policies to strengthen the infrastructure for greater manufacturing activity around the world in order to boost their economy. The demand for automotive robotics is predicted to rise as a result of the requirement for automation in these industrial hubs.
Furthermore, technical advancement in this field is a continual process that continues to improve convenience in accordance with current needs. Furthermore, automation in manufacturing provides increased profitability and near-perfect accuracy, which helps to the growing demand. Furthermore, automotive robotics offers a competitive advantage in terms of productivity. As a result, it is a critical requirement for large-scale industries, which bolsters market growth. On the other hand, the exorbitant cost of purchasing and maintaining these robots could stifle expansion.
Key Market Players
The major players in the market are ABB Ltd., Acieta LLC, Denso Corporation, DiFacto Robotics and Automation, Seiko Epson Corporation, Fanuc Corporation and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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