Automotive Robotics Market Statistics - 2027
The global automotive robotics market size was valued at $6.63 billion in 2019, and is projected to reach $13.60 billion by 2027, registering a CAGR of 12.8% from 2020 to 2027. Asia-Pacific accounted for the highest share in the global automotive robotics market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the forecast period.
Automobile manufacturers are adopting robotics in manufacturing processes as robots offer various advantages such as increased accuracy, more efficiency, flexibility, and reliability on production line. Such adoption of automotive robotics has allowed the automotive industry to be the most automated industry globally and one of the largest users of industrial robots in the world. In addition, automotive manufacturing robots provide automotive companies with a competitive advantage by providing improved quality, increase capacity, reduced warranty cost, and protects workers from difficult and dangerous jobs. Further, car assembly plants majorly use automotive robotics for application such as spot welding, painting, and others; however, there are many other opportunities to use automotive robotics throughout the supply chain.
Rise in automation in automotive industry and increase in accuracy, safety, and productivity are anticipated to drive the growth of global automotive robotics market. In addition, reduction in labor cost in organizations is propelling the growth of market. However, high cost of industrial robots hinders the growth of the market. Furthermore, factors such as incorporation of industry 4.0 is anticipated to provide remarkable opportunity for the expansion of the automotive robotics market during the forecast period.
By Component
Drive segment is projected as the most lucrative segments
The global automotive robotics market is segmented into component, type, application, and region. On the basis of component, the market is categorized into controllers, robotic arm, end effector, sensors, drive, and others. By type, it is segregated into articulated, cylindrical, SCARA, Cartesian, and others. Depending on application, it is fragmented into welding, painting, cutting, material handling, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the automotive robotics market report include ABB, Comau, DENSO WAVE INCORPORATED, FANUC CORPORATION, Kawasaki Heavy Industries, Ltd., KUKA AG, NACHI-FUJIKOSHI CORP., Rockwell Automation, Inc., Seiko Epson Corporation, YASKAWA ELECTRIC CORPORATION, and others.
By Type
Cylindrical segment is projected as the most lucrative segments
Increasing automation in automotive industry
Several companies focus on automation of operational processes to reduce cost, save time, deliver high-quality products, and increase productivity to meet the stiff competition. Industrial robots in the production plant automate the internal processes and reduce workload of employees by working in collaboration with workers for better efficiency. The automotive industry has been using automation technologies for many years and the industry is advancing in terms of automation front. Also, automotive companies and suppliers are working with automation technology companies for the adoption of these technologies in their manufacturing plant. For instance, automobile manufacturers such as BMW and Ford Motor Co., are working closely with additive manufacturers regarding deployment of the technology in the production plant. In addition, companies are also utilizing augmented and virtual reality to address the issues in manufacturing. Further, automotive industry is working with a focus on getting remarkable output out of industry 4.0, wherein, connected machines communicate with each other and human operators for efficient and smooth operations. Thus, increasing automation in the automation industry is propelling the growth of the automotive robotics market.
Increase in accuracy, safety, and productivity
Adoption of industrial robots in the production plant gives the automobile manufacturer a competitive advantage. The use of automotive robotics for manufacturing offers various advantages such as improved quality, increase in capacity, reduction in warranty costs, relieves bottlenecks, and protects workers from dangerous and difficult jobs. In addition, when personnel are replaced with automotive robotics, potential inaccurate workflow is reduced, which in turn results in increased, productive, and accurate output. Also, integration of robots in production facility allows continuous flow of operation with streamlined processes. Further, automobile production plants use robots exclusively for tasks such as painting, spot welding, and also, there are potential opportunities for using robots throughout the supply chain to increase productivity. Moreover, robots don’t suffer end-of-shift fatigues and thus, the production cycles are consistent throughout the day and consistency is maintained in peak production rates. Thus, increase in accuracy, safety, and productivity is boosting the growth of the automotive robotics market.
By Application
Painting segment is projected as the most lucrative segments
High cost of industrial robots
Adoption of industrial robots by the company increases the profitability of an operation by reducing the labor cost and increasing the productivity. Purchasing a robot in short duration is estimated to be more expensive as compared to hiring personnel for labor or using other human operated equipment. Profitability due to adoption of industrial robot can be realized by the company in longer term. In addition, industrial robots installed in the facility are projected to undergo routine maintenance and repair, which will result in some operational downtime. Thus, it can be burdensome on smaller operations that may not have readily available access to capital. Therefore, high initial investment cost and maintenance cost is anticipated to hinder the growth of the automotive robotics market.
Incorporation of industry 4.0
Industry 4.0 can be defined as the new phase in the industrial revolution that is highly focused on automation, interconnectivity, real time data, and machine learning. Industry 4.0 is also referred as smart manufacturing and operations with smart digital technology to create a better connected ecosystem for companies focused on manufacturing and supply chain management. Robotics is an integral part of the industry 4.0. The factories and manufacturing plants are anticipated to be dependent on new type of equipment such as mobile and collaborative robots that are connected to each other. Also, artificial intelligence (AI), data analytics, and cloud computing will also make industrial robots more reliable in coming years. Furthermore, the primary goal of the industry 4.0 is provide maximum efficiency with zero downtime. As robots are installed with more sensors, they will become more digitally connected and remarkably less susceptible to disruptions. Thus, incorporation of industry 4.0 is anticipated to provide a remarkable growth opportunity for the players operating in the automotive robotics market.
By Region
LAMEA region segment is projected as the most lucrative segments
Key Benefits For Stakeholders
- This study presents analytical depiction of the global automotive robotics market analysis along with current trends and future estimations to depict the imminent investment pockets.
- The overall market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
Automotive Robotics Market Report Highlights
| Aspects | Details |
 By Type |
|
 By COMPONENT |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | Kawasaki Heavy Industries, Ltd, NACHI-FUJIKOSHI CORP, Rockwell Automation, Inc, Comau, FANUC CORPORATION, Seiko Epson Corporation, Denso Wave incorporated, KUKA AG, YASKAWA ELECTRIC CORPORATION, ABB |
Analyst Review
According to the insights of the CXOs of leading companies, the automotive robotics market is expected to grow at a remarkable growth rate in the future, owing to increasing adoption of industrial robots in manufacturing plants in order to keep up with increasing demand for automobile across various countries.
Factors such as increasing automation in automotive industry and increase in accuracy, safety, and productivity are driving the growth of the automotive robotics market. In addition, reduction in labor cost in organizations is also fuelling the market growth. However, high cost of industrial robots is hindering the growth of market. Further, incorporation of industry 4.0 is anticipated to provide a remarkable growth opportunity for the players operating in the automotive robotics market.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the global market during the forecast period followed by Europe, North America, and LAMEA. Moreover, LAMEA is anticipated to exhibit highest growth rate due to increasing adoption of industrial robots in automotive companies during the forecast period.
The global automotive robotics market was valued at $6,633.00 million in 2019, and is projected to reach $13,600.90 million by 2027, registering a CAGR of 12.8% from 2020 to 2027.
Due to the pandemic, the manufacturing process and supply chain across various industries were severely disrupted resulting in loss of demand, which also impacted the automotive robotics market negatively. However, according to International Federation of Robotics (IFR), by 2020, around 4 million industrial robots are expected to be operation across the globe, which in turn will propel the automotive robotics market as automotive industry is one of the major used of industrial robots.
The report sample for automotive robotics market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
Incorporation of industry 4.0 is one of the upcoming trend in the automotive robotics market.
key strategies adopted by the top players to increase their revenue in automotive robotics includes collaboration, agreement, business expansion, and others.
The data of the top market players of automotive robotics market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the automotive robotics market as well as their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.
LAMEA region is anticipated to provide more business opportunities for automotive robotics in future.
Based on component, drive segment is the most influencing segment growing in the automotive robotics report.
Automotive is one of the key matured market which is growing in the automotive robotics industry.
Automobile manufacturing companies are the potential customers of automotive robotics.
Loading Table Of Content...
