Increase in automation in the automotive sector, rise in safety, accuracy, and productivity, and lowered labor cost in organizations drive the growth of the global automotive robotics market.
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 industry 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.
Download Report Sample (339 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/9046
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.
- 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.
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/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 market, 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.
Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/9046
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.
Major market players
- DENSO WAVE INCORPORATED
- Kawasaki Heavy Industries, Ltd.
- FANUC CORPORATION
- NACHI-FUJIKOSHI CORP.
- KUKA AG
- Seiko Epson Corporation
- Rockwell Automation, Inc.
- YASKAWA ELECTRIC CORPORATION
Purchase Complete Report Now at https://www.alliedmarketresearch.com/checkout-final/17e4e338cd90438567b3ba051ec0e706
Similar Reports We Have on Robotics Technology:
Autonomous Last Mile Delivery Market by Application (Logistics, Healthcare & Pharmaceuticals, Food & Beverages Retail, and Others), Solution (Hardware, Software, and Service), Range (Short Range (<20 km) and Long Range (>20 km)), and Vehicle Type (Aerial Delivery Drones, Ground Delivery Vehicles, and Self-driving Trucks & Bus): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Drone Package Delivery Market by Duration (Long Duration (>30 Minutes) and Short Duration (<30 Minutes)), Package Size (< 2 Kilograms, 2 – 5 Kilograms and > 5 Kilograms), Range (Long Range (>25 Kilometers) and Short Range (<25 Kilometers)), and Solution (Service, Software, Platform and Infrastructure): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Drone Service Market by Type (Drone Platform Services, Drone Maintenance, Repair, and Overhaul (MRO) Services, Drone Training & Education Services), Duration of Service (Short Duration Services and Long Duration Services), Application (Aerial Photography & Remote Sensing, Data Acquisition & Analytics, Mapping & Surveying, Modelling, Disaster Risk Management & Mitigation, Inspection & Environmental Monitoring, and Others), Industry (Infrastructure, Agriculture, Logistics, Media & Entertainment, Oil & Gas, Utility & Power, Security, Search & Rescue, Mining, Scientific Research, Insurance, and Others), Solution (Enterprise and Point): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Aerospace Robotics Market by Type (Articulated, Cartesian, Cylindrical, Spherical, SCARA, and Parallel), Technology (Traditional, Collaborative), Application (Drilling, Welding, Painting, Inspection) – Global Opportunity Analysis and Industry Forecast, 2014-2022.
Space Robotics Market by Solution (Products and Services), Application (Deep Space, Near Space and Ground), End User (Government and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2027.
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.