The Global Automotive Robotics Market was worth US$ 9.1 billion in 2022 and is anticipated to reach a valuation of US$ 17.49 billion by 2028 and is predicted to register a CAGR of 11.67% during 2023-2028.
Among all types, articulated robots have the largest share in the global automotive robotics market, while the robotic controller component is emerging as a promising component that will activate the automotive robotics market in the near future. The automobile industry is very dynamic and requires extreme flexibility on the part of automobile manufacturers. Therefore, manufacturers are increasingly expanding their core competencies by incorporating intelligent product systems and flexible logistics systems. The automotive industry has used industrial robotics in its production process for many years.
Market Drivers:
The worldwide market for automotive robotics is as yet in its development stage. The developing need to expand efficiency and improve the workplace by decreasing mechanical mishaps and improving worker well-being is driving the automotive robotics market all around the world. The market is supposed to show promising development in the coming years, primarily because of expanding research and mechanical turn of events and weight for a reasonable creation measure along with the need to decrease working expenses in a manufacturing plant of vehicles. Furthermore, increased investments in automated production facilities and high investments in emerging markets are determined to have a positive impact on global market growth. In addition, factors such as mitigating the time it takes to get the product to market, and a lack of skilled labor accompanied by innovation in developed auto manufacturing countries are estimated to support market growth from 2020 to 2025.
Market Restraints:
The high cost of installation will hamper the overall market revenue. The uncertainty of the data stored in the product will restrict the industry as the information contained in the databases may lead to illegal access or misuse. Furthermore, the rise in unemployment due to automation will act as a brake on the size of the industry.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
11.67% |
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Segments Covered |
By Application, Product, 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 |
ABB, FANUC, Kawasaki, Yaskawa Electric, Nachi-Fujikoshi Corp., and Others. |
Market Segmentation:
The Material Handling Applications segment is expected to show significant growth of more than 5.5% through 2024, driven by its growing installation in vehicle manufacturing plants. Advances in gripper software, vision, and technology will facilitate handling operations. The item needs to lift weighty mass materials and move incompletely collected vehicles starting with one mechanical production system and then onto the next for additional preparation.
Articulated robots will account for more than 35% of automotive robotics market revenue by 2025, due to their increasing use in material handling, welding, removal, and distribution. They typically have four to six axes, but with advanced technology and development, they can have up to ten axes, making them more versatile. This improves business productivity with greater precision and speed. These products come down in price due to their longer shelf life. A high adoption rate for SCARA robots is foreseen due to high-speed handling and assembly operations. Increased production and reduced bottlenecks will lead to the acceptance of SCARA robots.
Articulated robots are used in a greater number of industries compared to other types of industrial robots. The automotive industry accounts for the majority of articulated robots because their production processes are highly automated. Although most industries are affected by the COVID-19 pandemic, articulated robots are still expected to retain the largest share of the automotive robotics market during the forecast period. Other robots, such as SCARA and parallel robots, are more specialized and less versatile in terms of payload and range than articulated robots. Therefore, articulated robots will continue to retain the majority of the industry during the outlook period. The automotive industry is one of the largest users of industrial robots; however, the market is expected to be severely affected due to the coronavirus pandemic. The pandemic has hampered production and drastically reduced consumer demand. For this reason, automakers are expected to reduce their investment in automation, which will affect the market for industrial robots. Since other industries are also affected due to the pandemic, the use of robotics in the automotive industry is still expected to have the largest share despite a decline in 2020, supporting business growth.
Market Regional Analysis:
The Global Automotive Robotics Market Report includes the segmentation of regions:
Americans predominantly buy cars, which increases production in the automotive sector in countries such as Canada and the United States, as well as in North America, which is one of the axes of automakers, making North America a leader in the automotive robotics market. The APAC region is the fastest developing region in the world, with countries such as India, China, Taiwan, and South Korea becoming leaders in this area. Major suppliers, such as ABB and KUKA, make the region the base of their operations. Additionally, government regulations and funds have allowed projects to improve infrastructure. These angles have made APAC the favoured car fabricating focus, which will drive the car robotics market.
Market Key Players:
Market Recent Developments:
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