Automotive Robotics Market Upcoming Trends, Growth Drivers and Forecast by 2028

Automotive Robotics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Articulated, Cartesian, SCARA, Cylindrical); Component (Controller, Robotic Arm, End Effector, Sensors, Drive); Application (Welding, Painting, Cutting, Material Handling) and Geography

The highly dynamic nature of the automotive industry, as well as the growing requirement of extreme flexibility from auto manufacturers, are the primary reason for the adoption of automotive robotics globally. The mounting need to enhance productivity and improve the work environment by reducing the number of industrial accidents and focusing on employee safety is driving the market for automotive robotics in the global scenario.

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Companies Profiled in this report includes: ABB Ltd, Comau SpA, DENSO WAVE INCORPORATED, Fanuc Corporation, Kawasaki Heavy Industries, Ltd., Kuka AG, Nachi-Fujikoshi Corp., Rockwell Automation, Inc, Seiko Epson Corporation, Yaskawa Electric Corporation

IMPACT OF COVID-19 ON AUTOMOTIVE ROBOTICS MARKET

COVID-19 severely impacted the automobile industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the automobile and transportation industry, including Automotive Robotics manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Robotics suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted and vaccine drives are held successfully, the demand for passenger cars is expected to rise. Since Automotive Robotics are finding huge application in various production facilities worldwide, the demand for such products is expected to revive with the rise in demand for vehicles.

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MARKET SEGMENTATION
Based on type, the market is segmented into articulated, Cartesian, SCARA, and cylindrical
On the basis of component, the market of segmented into controller, robotic arm, end effector, sensors, and drive.

Based on application the market is fragmented into welding, painting, cutting, and material handling

MARKET DYNAMICS
Drivers:
Increasing vehicle production as well as wages inflation
Growing investments for automated production facilities
High investments in developing countries

Restraint -
Complex and expensive set-up

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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