Automotive Robotics Market by Type (SCARA Modular Robots, Articulated Modular Robots, Collaborative Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, and Others), Component (Hardware, Software and Services), Application (Material Handling, Assembly and Diassembly, Welding, Painting, Cutting, Pick & Place and Others) - Global Opportunity Analysis and Industry Forecast 2023-2030

Market Definition:

The Automotive Robotics Market size was valued at USD 12.20 billion in 2022 and is predicted to reach USD 23.18 billion by 2030 with a CAGR of 7.9% from 2023-2030.

In the beginning, robots were used to accomplish simple tasks like pick and place. Since they had no external sensing, they could only help in tedious, repetitive, arduous, and dangerous tasks. However, with the integration of different sensors, they have evolved to handle complex applications such as grinding, welding, assembly and deburring. Robots have been used in the automotive industry for many years. They assist in all major manufacturing phases starting from material handling to process operations and assembly. Automotive robots not only increase the productivity in manufacturing facilities but also minimizes the wastage of raw materials. They are also cost-effective and can complete the given task much faster than their human counterparts with higher precision.

Market Dynamics and Trends:

Rising demand for automobiles all over the globe due to the increasing per capita income is fuelling the growth of automotive robotics market. Robots play a vital role in automotive industry. For instance, autonomous intelligent vehicles (AIVs) or mobile robots are used to transfer components and materials safely from one place to another. Also, the use of articulated robots has been significantly increased in the automotive industry due to their flexibility, cost-effectiveness, and ability to perform various operations.

Moreover, rising investments in the automotive industry to build new production facilities and ramp up production through modernization of the existing facilities, leads to greater adoption of robots. Furthermore, aggressive R&D is undergoing to enhance the capability of robots and to promote sustainable production processes, which in turn is expected to favour the growth of automotive robotics in the coming years.

However, high initial investment and maintenance cost may restrain the automotive robotics market growth to some extent. On the other hand, greater penetration of smart devices, use of wireless and cloud technologies in automotive robotics will provide ample growth opportunities for the market players in the coming years.

Market Segmentations and Scope of the Study:

The automotive robotics market is segmented based on type, component, application, and geography. On the basis of type, the market is divided into SCARA Modular Robots, Articulated Modular Robots, Collaborative Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, and Others. Based on component, the market is segmented into Hardware, Software and Services. On the basis of application, the market is divided into Material Handling, Assembly and Diassembly, Welding, Painting, Cutting, Pick & Place and Others. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and the RoW.

Geographical Analysis:

North America holds the lion share of automotive robotics market and is expected to continue this trend throughout the forecast period. This is attributed to factors such as rapid urbanization and significant economic growth in countries like Canada and the U.S. To meet the high vehicle demand in this region, automotive manufacturers are using automation and robotics in vehicle production, which in turn is driving the growth of automotive robotics in North America.

However, Asia-Pacific is expected to witness a steady growth in automotive robotics market. This region is home to countries such as China, Japan, South Korea, and India among others, where majority of the world’s manufacturing plants are situated. For instance, leading automobile players such as Toyota, Hyundai, BYD auto and TATA Motors have their production units in this region. Also, favourable government policies and funds to encourage manufacturing sector make Asia-Pacific region a favourable automotive manufacturing centre and thereby favours the growth of automotive robots’ market in this region.

Competitive Landscape:

The key players in the automotive robotics market include Seiko Epson Corporation, KUKA AG, Kawasaki Heavy Industries, ABB, FANUC Corporation, Yaskawa Electric Corporation, Denso Wave Incorporated, Nachi-Fujikoshi Corp., Rockwell Automation, Inc., Comau SPA, and Others. Strategic alliances, acquisitions and innovations along with R&D are key strategies used by market players to maintain market dominance.

For instance, in April, 2021, Rockwell Automation, Inc., and Comau, announced that they would join hands to give businesses worldwide vital tools to maximize manufacturing efficiencies through unified robot control solutions.  Also, in May, 2020, Fincantieri and Comau, signed an agreement to develop prototypes of robotized steel welding solutions.

KEY BENEFITS:

• The report offers quantitative analysis of the current automotive robotics market and estimations through 2020-2030, that assists in identifying the prevailing market opportunities to capitalize on. 

• The study comprises a deep dive analysis of the automotive robotics market trend including the current and future trends for depicting prevalent investment pockets in the automotive robotics industry

• The report contains information related to key drivers, restraints and opportunities and their impact on the automotive robotics market.

• The report includes key market players, market share, which helps understand their competitive analysis.

• The competitive analysis of the market players along with their market share in the automotive robotics market has been discussed in the report.

• The SWOT analysis and Porter's Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholder’s role.

KEY MARKET SEGMENTS:

By Type

• SCARA Modular Robots

• Articulated Modular Robots

• Collaborative Modular Robots

• Cartesian Modular Robots

• Parallel Modular Robots

• Others

By Component

• Hardware

• Software

• Services

By Application

• Material Handling

• Assembly and Diassembly

• Welding

• Painting

• Cutting

• Pick & Place

• Others

By Geography   

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

  • Netherlands

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Australia

  • Japan

  • South Korea

  • Taiwan

  • Vietnam

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION: