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Robotics is study of robots and is responsible for construction, design, operation, and application of robots. A robot is an electro-mechanical device which is programmed to follows a set of instructions to carry out required tasks without the help or aid of any human involvement. Robots can perform required tasks repeatedly in exactly the same way once programmed. Robotics technology is widely used in different industries like construction, mining, medical, entertainment, research, logistics, automobiles military, agriculture and many more. Mostly and abundantly application of robotics is in the automotive industry.
With increasing industrialization, urbanization and per capita income the automotive industry is currently experiencing a dynamic era of growth. Demand for all types of vehicles (including cars, trucks, two-wheelers, buses, and off-road vehicles, among others) is booming globally. On the other hand, rising labor costs and lack of skilled workforce issues are acting as barriers to meet these requirements. Hence, automotive robots are introduced in the automotive industry to speed up the manufacturing process of automobiles to meet the growing consumer requirement.
Automotive robotics technology is used to carry out some major applications like welding, assembly, processing, handling operations, painting, cutting and dispensing in automotive industry. Automotive robots are also used to supply automotive components. The global automotive robotics market is segmented into SCARA, Articulated, Cylindrical and Cartesian on the basis of type. The articulated robots segment holds the largest share and is expected to remain the largest segment during the forecast period growing at a CAGR of 14% over the forecast period. But high cost and high maintenance costs are restraining the market.
Asia Pacific is the largest automotive robotics market in 2023 and is expected to remain the largest market during the forecast period followed by Europe and North America. Countries like China, India, Japan, and South Korea are driving the Asia-Pacific market due to substantial growth in the sales of robotic units in the automotive market. New technological advancements in automotive robotics with new specifications, innovative concepts, and new applications are constantly evolving to provide improved performance are primary driving factors of the Automotive Robotics Market.
On the basis of a model, the Automotive Robotics Market is primarily split into
On the basis of components, the Automotive Robotics Market is primarily split into
On the basis of the end users/applications, this report covers
Global Automotive Robotics Market : Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study consists of following key players in Global Automotive Robotics Market :
Geographical analysis of Automotive Robotics Market:
Global Automotive Robotics Market Report delivers a comprehensive analysis of the following parameters:
Parameters | Details |
---|---|
Base Year |
2024 |
Historical Data |
2018-2023 |
Forecast Data |
2024-2030 |
Base Year Value (2024) |
USD 10219.11 million |
Forecast Value (2031) |
USD 21621.17 million |
CAGR (2025-2030) |
11.3 % |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Automotive Robotics Market was valued at around USD 10219.11 million in 2023 & estimated to reach USD 21621.17 million by 2030.
Automotive Robotics Market is likely to grow at Compound Annual Growth Rate (CAGR) of 11.3% between 2024 to 2030.
Automotive Robotics Market is dominated by the Articulated segment and the Asia-Pacific region holds the highest market share in 2023.
Some of the top key players in the Automotive Robotics Market are Barrette Technology LLC, ABB Ltd., iRobot Corporation, Mitsubishi Electric Corp., John Deere, Kawasaki Heavy Industries Ltd., NACHI-FUJIKOSHI CORP., Honda Motor Co. Ltd., CMA ROBOTICS SPA, DAIHEN Corporation, Artech Automation, Locus Robotics, Omron Adept Technologies, Universal Robots A/S.
Primary driving factors for the growth of the Automotive Robotics Market include New technological advancements in automotive robotics with new specifications, innovative concepts, and new applications are constantly evolving to provide improved performance.
Yes, the report includes COVID 19 impact on the market.
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