Press release
Automotive Manufacturing Equipment Market Size Forecasted To Achieve $12.06 Billion By 2029 With Steady Growth
Automotive Manufacturing Equipment Market Size
What Is the Automotive Manufacturing Equipment Market Size and Projected Growth Rate?
In recent times, the market size of automotive manufacturing equipment has seen a sharp increase. The market, which is poised to rise from $7.53 billion in 2024 to $8.38 billion in 2025, will experience a Compound Annual Growth Rate (CAGR) of 11.2%. Factors that have contributed to this growth over the historic period are economic development, consumer predilections, regulatory norms, the globalization of supply chains, and cost efficiency.
In the coming years, the automotive manufacturing equipment market is predicted to experience robust expansion, with its value expected to climb to $12.06 billion by 2029. This suggests a compound annual growth rate (CAGR) of 9.5%. The growth during this period is expected due to factors like increased acceptance of electric vehicles, integration of Industry 4.0, emphasis on environmental sustainability, resilience of the supply chain, and increasing customization requirements. Some noteworthy trends for the forecast period include the embrace of Industry 4.0 solutions, the roll-out of collaborative robots (cobots), inclusion of augmented reality (ar) and virtual reality (vr), adoption of 3D printing/additive manufacturing, a move towards more flexible and modular production processes, and the creation of improved material handling mechanisms.
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What Are the Major Segments in the Automotive Manufacturing Equipment Market?
The automotive manufacturing equipment market covered in this report is segmented -
1) By Equipment Type: CNC Machine, Conveyor Belt, Injection Molding Machine, Robot, Stamping Machine, Welding Machine
2) By Mode of Operation: Automatic, Semi-Automatic
3) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
Subsegments:
1) By CNC Machine: Lathes, Milling Machines, Drilling Machines, Grinding Machines
2) By Conveyor Belt: Roller Conveyors, Belt Conveyors, Chain Conveyors, Overhead Conveyors
3) By Injection Molding Machine: Hydraulic Injection Molding Machines, Electric Injection Molding Machines, Hybrid Injection Molding Machines
4) By Robot: Articulated Robots, Cartesian Robots, SCARA Robots, Collaborative Robots
5) By Stamping Machine: Mechanical Stamping Machines, Hydraulic Stamping Machines, Pneumatic Stamping Machines
6) By Welding Machine: Arc Welding Machines, Resistance Welding Machines, Laser Welding Machines, Ultrasonic Welding Machines
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What Are The Driving Automotive Manufacturing Equipment Market Evolution?
The surging demand for electric vehicles is predicted to spur the expansion of the automotive manufacturing equipment sector in the future. Electric vehicles (EVs), which run predominantly or solely on electricity rather than conventional internal combustion engines powered by gasoline or diesel fuel, are driving this trend. The central role of automotive manufacturing equipment in crafting the prospects of transport is especially pertinent considering EVs, wherein sharpness, competence, and novelty form the pillars of the eco-friendly automotive transformation. As per the International Energy Agency, a French intergovernmental entity, in July 2023, the sales of EVs rose to 10 million in 2022 and are projected to escalate to 14 million in 2023. Hence, the surging demand for EVs is propelling the growth of the automotive manufacturing equipment market. Automotive Manufacturing Equipment Market Driver: The Evolution of Automotive Manufacturing Equipment Market via Industry 4.0
Which Firms Dominate The Automotive Manufacturing Equipment Market Segments?
Major companies operating in the automotive manufacturing equipment market report are Siemens AG, Denso Corporation, Mitsubishi Electric Corporation, ABB Ltd., Emerson Electric Co., JTEKT Corporation, Seiko Epson Corporation, Rockwell Automation Inc., Bosch Rexroth AG, FANUC Corporation, Hexagon AB, Trumpf GmbH, Dürr Group, Daifuku Co. Ltd., Yaskawa Electric Corporation, KUKA AG, DMG MORI Co. Ltd., Amada Co. Ltd., ATS Automation Tooling Systems Inc., Nachi-Fujikoshi Corporation, Schuler AG, Stäubli International AG, Okuma Corporation, Cognex Corporation, AIDA Engineering Ltd., HD Hyundai Robotics, Fronius International GmbH, Kawasaki Heavy Industries Ltd., Universal Robots A/S, Comau SpA
What Trends Are Driving Growth in The Automotive Manufacturing Equipment Market?
Companies that hold a leading market share are focusing on product innovation as a strategy to increase their market revenues. One type of robotic arm structure that such companies are focusing on is the serial-link robot, a configuration with interconnected rigid links in a chain-like arrangement. For example, FANUC, a renowned robotics company from Japan, released the M-1000iA, its largest serial-link robot, in January 2022. This heavy-duty robot can handle weighty products such as automotive parts, construction materials, and battery packs for electric vehicles. The serial-link design of the robot allows for a greater range of motion in all directions, including extending the arm upright or rotating it backward. The M-1000iA, with a payload of 1000 kg, 3,253mm horizontal reach, and 4,297mm vertical reach, is an optimal choice for manufacturers who aim to enhance production output and achieve peak efficiency on their production lines.
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Which Is The Largest Region In The Automotive Manufacturing Equipment Market?
North America was the largest region in the automotive manufacturing equipment market in 2024. The regions covered in the automotive manufacturing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Manufacturing Equipment Market?
2. What is the CAGR expected in the Automotive Manufacturing Equipment Market?
3. What Are the Key Innovations Transforming the Automotive Manufacturing Equipment Industry?
4. Which Region Is Leading the Automotive Manufacturing Equipment Market?
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