Automotive Robotics Market Expected to Touch $13.60 Billion by 2027, Driven by 12.8% CAGR Growth From 2020 to 2027

Automotive Robotics Industry Size

PORTLAND, OREGAON, UNITED STATES, September 25, 2023 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Automotive Robotics Market by Component (Controller, Robotic arm, End effector, Sensors, Drive, and Others), Type (Articulated, Cylindrical SCARA, Cartesian, and Others), and Application (Welding, Painting, Cutting, Material Handling, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027″. As per the report, the global automotive robotics market generated $6.63 billion in 2019, and is expected to reach $13.60 billion by 2027, witnessing a CAGR of 12.8% from 2020 to 2027.

𝐌𝐚𝐣𝐨𝐫 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

Rise in automation in the automotive industry, surge in need for accuracy, safety, and productivity, and reduction in labor cost in organizations drive the growth of the global automotive robotics market. However, high cost of industrial robots hampers the market growth. On the contrary, emergence of industry 4.0 is projected to create lucrative opportunities for the market players in the future.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/9046

𝐓𝐡𝐞 𝐫𝐨𝐛𝐨𝐭𝐢𝐜 𝐚𝐫𝐦 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

By component, the robotic arm segment held the lion’s share in 2019, accounting for more than two-fifths of the global automotive robotics industry, as robotic arms can be programmed to move in a very precise manner repeatedly with a high level of reliability and accuracy. However, the drive segment is projected to manifest the highest CAGR of 23.5% during the forecast period, due to increase ig automotive production with rise in sales in the automotive industry over the years.

𝐓𝐡𝐞 𝐩𝐚𝐢𝐧𝐭𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟐𝟕

By application, the painting segment is estimated to register the highest CAGR of 20.8% from 2020 to 2027, due to fast operations, good quality, and cost-efficiency in working units offered by robots. However, the material handling segment held the largest share in 2019, contributing to nearly half of the global automotive robotics market, owing to remarkable precision and highly accurate link-and-gear combinations.

𝐋𝐀𝐌𝐄𝐀, 𝐟𝐨𝐥𝐥𝐨𝐰𝐞𝐝 𝐛𝐲 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐭𝐨 𝐩𝐨𝐫𝐭𝐫𝐚𝐲 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐛𝐲 𝟐𝟎𝟐𝟕

By region, the market across LAMEA, followed by North America, is expected to register the highest CAGR of 22.0% during the forecast period, due to incorporation of new automobile production plants with installed advanced industrial robots. However, the global automotive robotics market across Asia-Pacific dominated in 2019, accounting for more than two-thirds of the market share, owing to rise in demand for automobiles in this region and robots are helpful tools to increase the production rate to meet the demand.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-robotics-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The Covid-19 outbreak has affected the manufacturing processes as governments declared complete lockdown across the countries to curb the spread of the infection.

The prolonged lockdown disrupted the supply chain, resulting in the loss of demand for automotive robotics.

However, the demand for automotive robotics is expected to increase post-pandemic as the automotive industry, one of the major end-users of industrial robotics, is on its way to get back on track.

As robots could help in boosting production while complying with social distancing norms, the demand for automotive robotics is expected to increase post-pandemic.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

ABB
DENSO WAVE INCORPORATED
Comau
Kawasaki Heavy Industries, Ltd.
FANUC CORPORATION
NACHI-FUJIKOSHI CORP.
KUKA AG
Seiko Epson Corporation
Rockwell Automation, Inc.
YASKAWA ELECTRIC CORPORATION

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/9046

David Correa
Allied Market Research
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