Automotive Robotics Market to Show Stellar CAGR of
Pune, India, 01 Feb. 2022 (GLOBE NEWSWIRE) — The world automotive robotics market the size should grow in size reaching $16.29 billion by 2028 while posting an excellent CAGR of 12.8% between 2021 and 2028. In its report entitled “Automotive Robotics Market, 2021-2028“, Fortune Business Insight mentions that the market was at $6.55 billion in 2020 and $6.99 billion in 2021. With the growing complexity of automotive production, automakers have increasingly begun to adopt robots in the manufacturing process.
They use it in assembly plants for functions such as painting and welding. The use of robots offers manufacturers the opportunity to provide quality design, increase capacity, reduce warranty costs and protect workers against any type of accident. Hence, these factors will influence the growth of the market in the coming years.
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Worker protection will increase market growth
Sometimes, in automotive manufacturing, few jobs are quite dangerous in nature. For example, in a foundry, it can be dangerous when pouring molten metal. Some jobs also lead to musculoskeletal disorders caused by twisting, lifting and repetitive movements. To avoid these risks, manufacturers have increased the deployment of robots, which is expected to boost the growth of the automotive robotics market. Robots protect workers from exposure to paint, welding and stamping fumes from presses, noise and weld flashes. Its use reduces the risk of injuries and accidents. Hence, these factors are expected to propel the market during the forecast period.
Key players in new launches to enhance market growth
The market is consolidated by large companies striving to maintain their position by focusing on new launches, collaborations and partnerships, and acquisitions. Such strategies adopted by key players are expected to boost its market prospects. Here are the industry developments:
- July 2021 – Comau launched its Comau Next Generation programming platform, a protocol that implements the Uniform Robotics Data Interface (URDI) communication standard to streamline robot programming.
- April 2020 – KUKA AG and BMW AG have signed a framework agreement for the supply of approximately 5,000 robots for new production lines and factories. The various robot models from KUKA AG will mainly be used in the production of body-in-white and other technologies.
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Market segmentation :
By type, the market is divided into, hinged, Cartesian, cylindrical, SCARA and others. By application, the market is segmented into welding, painting, handling, assembly/disassembly, etc..
- Based on application, the welding segment held a market share of 37.8% in 2020. This is attributed to its application to improve safety and efficiency in the production line. In addition, it also helps to improve the production speed of multi-material vehicles.
Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World.
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Asia-Pacific will dominate, fueled by the existence of crucial players in the region
Asia-Pacific is expected to remain in the lead and hold the market share over the forecast period owing to the growing aging labor population in China and rising labor costs. This is why manufacturers are adopting robotics in the automobile. For example, in 2019, Byton, the Chinese electric vehicle manufacturer, opened a new manufacturing base in Nanjing which incorporates 335 welding robots supplied by KUKA and an automation rate of 99%. The region’s market stood at USD 2.88 billion in 2020.
North America is expected to show a large share of the automotive robotics market in the coming years, owing to increasing investments from major US automakers, such as Ford, Tesla, and General Motors. Additionally, the deployment of robots increases worker productivity; and offers better paid and more skilled work to employees. For example, according to the International Federation of Robotics, in the United States, robots installed per 10,000 employees reached a new high of 1,287 units in 2020. Hence, these factors will propel the market growth in this region.
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List of Key Players Featured in the Report
- ABB AG (Zurich, Switzerland)
- KUKA AG (Augsburg, Germany)
- FANUC Corporation (Yamanashi, Japan)
- Yaskawa Electric Corporation (Fukuoka, Japan)
- Kawasaki Heavy Industries (Tokyo, Japan)
- Denso Wave Incorporated (Aichi, Japan)
- Comau SPA (Grugliasco, Italy)
- Nachi-Fujikoshi Corp. (Tokyo, Japan)
- Rockwell Automation, Inc. (Wisconsin, USA)
- Seiko Epson Corporation (Nagano, Japan)
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