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Automotive Robotics Market Global Analytical Overview, Key Players, Regional Demand, Trends and Forecast to 2030

10-14-2021 05:13 AM CET | IT, New Media & Software

Press release from: Next Move Strategy Consulting

Automotive Robotics Market Global Analytical Overview, Key

The Automotive Robotics Market size was valued at USD 6.08 billion in 2020 and is predicted to reach USD 18.00 billion by 2030 with a CAGR of 11.8% from 2021-2030.

In the beginning, robots were used to accomplish simple tasks like pick and place. Since they had no external sensing, they could only help in tedious, repetitive, arduous, and dangerous tasks. However, with the integration of different sensors, they have evolved to handle complex applications such as grinding, welding, assembly and deburring. Robots have been used in the automotive industry for many years. They assist in all major manufacturing phases starting from material handling to process operations and assembly. Automotive robots not only increase the productivity in manufacturing facilities but also minimizes the wastage of raw materials. They are also cost-effective and can complete the given task much faster than their human counterparts with higher precision.

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Top Companies: Seiko Epson Corporation, KUKA AG, Kawasaki Heavy Industries, ABB, FANUC Corporation, Yaskawa Electric Corporation, Denso Wave Incorporated, Nachi-Fujikoshi Corp., Rockwell Automation, Inc., Comau SPA

Market Dynamics and Trends:

Rising demand for automobiles all over the globe due to the increasing per capita income is fuelling the growth of automotive robotics market. Robots play a vital role in automotive industry. For instance, autonomous intelligent vehicles (AIVs) or mobile robots are used to transfer components and materials safely from one place to another. Also, the use of articulated robots has been significantly increased in the automotive industry due to their flexibility, cost-effectiveness, and ability to perform various operations. Moreover, rising investments in the automotive industry to build new production facilities and ramp up production through modernization of the existing facilities, leads to greater adoption of robots. Furthermore, aggressive R&D is undergoing to enhance the capability of robots and to promote sustainable production processes, which in turn is expected to favour the growth of automotive robotics in the coming years.

However, high initial investment and maintenance cost may restrain the automotive robotics market growth to some extent. On the other hand, greater penetration of smart devices, use of wireless and cloud technologies in automotive robotics will provide ample growth opportunities for the market players in the coming years.

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Market Segmentations and Scope of the Study:

The automotive robotics market is segmented based on type, component, application, and geography. On the basis of type, the market is divided into SCARA Modular Robots, Articulated Modular Robots, Collaborative Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, and Others. Based on component, the market is segmented into Hardware, Software and Services. On the basis of application, the market is divided into Material Handling, Assembly and Diassembly, Welding, Painting, Cutting, Pick & Place and Others. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and the RoW.

Geographical Analysis:

North America holds the lion share of automotive robotics market and is expected to continue this trend throughout the forecast period. This is attributed to factors such as rapid urbanization and significant economic growth in countries like Canada and the U.S. To meet the high vehicle demand in this region, automotive manufacturers are using automation and robotics in vehicle production, which in turn is driving the growth of automotive robotics in North America.

However, Asia-Pacific is expected to witness a steady growth in automotive robotics market. This region is home to countries such as China, Japan, South Korea, and India among others, where majority of the world’s manufacturing plants are situated. For instance, leading automobile players such as Toyota, Hyundai, BYD auto and TATA Motors have their production units in this region. Also, favourable government policies and funds to encourage manufacturing sector make Asia-Pacific region a favourable automotive manufacturing centre and thereby favours the growth of automotive robots’ market in this region.

Contact:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

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