Reportocean.com “Global Automotive Robotics Market” research report has been added to its Research Database.
Automotive Robotics Market, [By Type (Articulated Robots, SCARA Robots, Cartesian Robots, Cylindrical Robots, Others); By Component (Hardware, Software, Services); By Application (Painting, Welding, Material Handling, Assembly, Others); By Region]: Market Size & Forecast, 2018 – 2026
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The Automotive Robotics Market is anticipated to reach over USD 14,170 million by 2026. In 2017, the articulated robots dominated the global automotive robotics market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global automotive robotics market revenue in 2017.
There has been an increase in the demand of automotive robotics across the world owing to the greater need for automation of manufacturing processes. With the increasing use of collaborative robots in automotive applications, the overall demand for robotics to also influence the automotive robotics market growth. Automotive robots are being adopted by small and medium-sized organizations at a huge pace for the automation of manufacturing processes.
Market players are introducing application-specific robots to meet the growing needs of the automotive industry. The growing need for automation and increasing labor costs further fuels the automotive robotics market growth. In addition, the availability of affordable, high quality customized robotics solutions for diverse applications in the automotive industry stimulates market growth.
With international labor safety standards becoming more stringent, robots are being employed in hazardous environments in place of humans. Robots find application in situations that are dangerous and unsafe for human beings to work, such as working in irregular terrains and handling hazardous substances. Robots enable organizations to avoid risks and reduce the number of work accidents. This factor leads to greater adoption of robotics solutions in the global automotive industry.
Owing to stiff competition in the global automotive market, players are introducing low-cost and high-quality robots to meet consumer demands. The advancements in technology enable developers to design new innovative products while maintaining the affordability of the product. The recently developed robots are energy efficient and designed to serve specific applications in the automotive industry. Acceptance of such robots by small and medium businesses has increased owing to its low cost and increased flexibility.
Asia-Pacific generated the highest revenue in the market in 2017 and is expected to lead the global market throughout the forecast period. Growing demand from the automotive industry for high-quality products, along with increasing labor costs encourages companies to invest in automotive robotics. With intense competition in the automotive industry, companies are setting up manufacturing facilities in these countries for timely deliveries of products to their customers. The high demand for robots from Japan and South Korea would help in the growth of the automotive robotics market in the region. Other factors driving this market include rapid industrialization and increasing need for automation in manufacturing processes.
The key players operating in the 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, DiFacto Robotics, and Automation Pvt. Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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