The global automotive robotic market was valued at USD 9.91 billion in 2023 and is anticipated to reach a valuation of USD 11.04 billion in 2024 from USD 26.29 billion by 2032, growing at a CAGR of 11.45% from 2024 to 2032.
Robotics is the division of science and engineering that includes mechanical, computer science, electrical, and engineering streams. Robotics can complete the construction, operation, design, and utilization of robots. This technology can create machines that can take the place of people.
Automotive robots are made to support the manufacture of automobiles in the automotive industry. The automotive industry is the largest industry globally. 126000 units are installed globally, 95% of top automotive companies with revenue greater than 11 billion dollars it is expected that there will be high growth in robotics and automation during the forecast period. Moreover, 80% of the automotive industry lacks faster change to raise revenue, safety, and profit. This is an opportunity for robot manufacturers.
Nowadays, the automotive industry uses industrial robotics in the production process. Articulated robots accounted for a significant portion of the automotive industry and by function, welding has extensive use of robots in the automotive industry. Robotics systems used in the automotive industry are efficient, safe, and cost-effective, and they are capable of discharging their job faster than their human work.
Automotive robots have several applications such as commercial and household. Commercial robots are being used in various industries including medicine, agriculture, military, and automotive. Articulated robots took a prime share in automotive robotic products.
Producers are acquiring this technology for many reasons such as quality, safety, and producing capacity. Automotive robotics helps in reducing the waste caused by human errors. Auto producers make efforts to maintain consistent time and control processes at every stage of the assembly line.
Vehicle-producing processes consist of various dangerous tasks that lead to musculoskeletal disorders due to lifting, repetitive movements, and twisting. This prevents human risks by keeping away from welding and paints which will increase the growth of the automotive robotics market.
High installation costs will restrain the growth of the automotive robotics market., Automation pushes unemployment which will hamper the growth of the market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
11.45% |
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Segments Covered |
By Product, Application, Component, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
KUKA, ABB, FANUC, Rockwell, Kawasaki Heavy Industries, Yaskawa, Comau, Denso Wave, Omron Corporation, and Universal Robots, and Others. |
Articulated robots are showing dominance in this segment due to increasing usages of material handling, material removal, welding, and dispensing. It is expected to take 35% of automotive robotic market revenue by 2024. Articulated robots are increasing productivity with high accuracy in companies. Micro-manufacturing is a key factor that contributes to the parallel robot segment demand.
Software And Service
Software and services will dominate this segment by taking 27% market share by 2024, due to cloud-based platforms, which will increase the growth of the market.
Handling operations dominated this segment, taking 5.5% market share by 2024 due to increasing installation in vehicle-producing plants. This product is required to lift heavy material in bulk quantities and transfer assembled vehicles from one assembly vehicle to another.
Asia Pacific automotive robotics market leads revenue to share globally. It was worth USD 2509.8 million in 2017 because of increasing labour costs and the ageing population in China. China's automotive robotic market has increased in the past five years due to Automobile 4.0, covering packaging machinery, welding, hydronic, IPS drives, and fluid power. Korea and Japan are leading countries in using automotive robotics.
North America is estimated to grow at a compound annual growth rate of 13.7% during the forecast period, and revenue was USD 1 billion in 2017. This region shows the fastest growth due to robotization, automation, and modernization.
The Europe automotive robotic market is led by Italy and Germany. It is estimated to grow at a compound annual growth rate of 3.5% from 2018 to 2025. Due high presence of a strong automobile industry in this region. in this region most of the countries suffering from economic recession such as Austria, Netherlands, Spain, and Finland, retrieval of will increase demand for market growth.
KUKA, ABB, FANUC, Rockwell, Kawasaki Heavy Industries, Yaskawa, Comau, Denso Wave, Omron Corporation, Universal Robots. These are the market players that are dominating the global automatic robotics market.
DETAILED SEGMENTATION OF THE GLOBAL AUTOMATIC ROBOTIC MARKET INCLUDED IN THIS REPORT
This research report on the global automatic robotic market is segmented and sub-segmented into the following categories.
By Product
By Component
Hardware:
By Application
By Region
Frequently Asked Questions
The Global Automotive Robotic Market is expected to grow with a CAGR of 11.45% between 2023-2028.
The Global Automotive Robotic Market size is expected to reach a revised size of US$ 16.8 billion by 2028.
ABB, FANUC, and Rockwell are the three Automotive Robotic Market key players.
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