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(Transportation-News.com, October 11, 2018 ) The global automotive robotics market generated $5,050 million in 2017 and is anticipated to grow at a CAGR of 12.4% during the forecast period.
Automotive robots are increasingly being used for improving efficiency, flexibility, and precision of production lines. Automation of automotive manufacturing processes offer reduced labor costs, and improve overall production performance. Automotive robots are used for various tasks such as welding, assembly, painting, coating, material removal, and machine tending among others.
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The increasing need for automation in the automotive industry has resulted in significant rise in demand for robotics solutions that positively influence the growth of automotive robotics market. Organizations are adopting robotics to automate their manufacturing processes to deliver high quality products, increase their manufacturing capabilities, provide better customer service, and efficiently manage their processes. Labor costs have increased worldwide, especially in developed countries. Organizations are implementing robotics solutions to reduce labor costs and energy costs. Though the initial cost is high, robotics solutions enable them to efficiently manage their processes, while reducing their expenditure in the end.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Robotics Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Asia-Pacific generated the highest revenue in 2017 in the automotive robotics market owing to its established automotive industry, and growing need for automation in manufacturing processes. Increasing labor costs, growing adoption by small and medium sized industries, and introduction of affordable and customized robotics solutions support the growth of the automotive robotics market. Stringent government regulations regarding workforce safety, and technological advancements further support market growth in the region.
Competitive Landscape and Key Vendors
The global automotive robotics market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading operating in the automotive robotics market include Fanuc Corporation, Rockwell Automation, Inc., ABB Ltd., Kawasaki Heavy Industries, Kuka AG, Denso Corporation, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Nachi-Fujikoshi Corporation, and DiFacto Robotics and Automation Pvt. Ltd.
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Key Segments
Type
• Articulated Robots
• SCARA Robots
• Cartesian Robots
• Cylindrical Robots
• Others
Component
• Hardware
• Software
• Services
Application
• Painting
• Welding
• Material Handling
• Assembly
• Others
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