(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 22, 2021, 05:33 /Comserve / -- Automotive Robotics Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The automotive robotics market iwas valued at USD 9 billion in 2020 and is anticipated to reach USD 16 billion by 2026, at a CAGR of over 10% during the forecast period (2021 – 2026).
The automotive industry which was already going through slow growth further get affected by COVID-19 and the subsequent shutdowns in all the major market. In 2020 all the automakers and tier players wittnessed decline in production and sales of vehicles and components.
This extraordinary growth of the electric vehicles is positively inducing the use of robots for meeting the growing consumer requirement of this market. Automotive robots are designed for supporting the production of automobiles in the automotive industry.
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Automotive industry is the largest industry with more than 130000 units installed in all facilities worldwide. 95% of top executives of automotive companies with revenues more than 11 billion dollars believe that there will be a significant increase in investments in robotics and automation during the forecast period. However, 82% of automotive organizations lack resource alignment and preparedness to execute faster change to increase revenue, profit and safety. This is an incredible opportunity for robot manufacturers to market their machineries to OEMs.
Key Market Trends
Technological innovations are driving the market growth
The automotive manufacturing segment has been taking rapid steps in the industrial automation domain emerging as a role model for the other industries by showcasing how automation should be utilized to scale up the value chain and achieve zero-defects manufacturing. The automotive industry has been an early adopter of robotics for applications, like welding, painting, glue dispensing, etc. However, there are plenty of robotic applications available to choose from within the industry. For instance.
- The new trend which automotive industry is witnessing is with respect to Autonomous Intelligent Vehicles (AIV) or mobile robots for material and intermediate goods transport. Robots are also emerging as one of the key parts of end-to-end traceability automation solutions.
- Another recent trend is collaborative robots; these robots are human friendly on assembly lines. Such a robot has two arms and works with human collaboratively to get the best from human and robot. Such robots are as good as a portable robot, which can be placed on worktables and humans can seat next to it while working.
- An articulated robot has rotary joints. The rotary joints can range from a simple 2 joints mechanism to complex 10 or more joints mechanism. Articulated robot is the most common type of robot used in automotive industry. High flexibility allows easy process changeovers and this is the reason why small and medium scale enterprises are adopting articulated robots, thus increasing demand on a global level.
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Asia-Pacific is Expected to Lead the Automotive Robotics Market
Asia-Pacific is the fastest developing region globally, with countries, like India, China, Taiwan, and South Korea evolving as the leaders in this region. Leading vendors, such as ABB and KUKA are instituting the region as their operation's base. Furthermore, government regulations and funds have empowered projects to improve the infrastructure. These aspects have made APAC the favored automotive manufacturing hub, which will drive the automotive robotics market.
Countries, such as China and India are the principal countries in Asia-Pacific in terms of development, and many industries, such as automotive, electronics, and aviation are opening their factories in these countries, which is generating the demand for the automotive robotics market, making Asia-Pacific an emerging region.
Competitive Landscape
The major players in the automotive robotics market are ABB, Adept, Epson Robotics, Fanuc, Honda, Intuitive Surgical, iRobot, Kawasaki, KUKA, and Yaskawa Electric, among others. The companies in the market are using the latest technologies for being ahead in the competition. For instance:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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