The global Automotive Robotics market is projected to experience substantial growth between 2023 and 2030, with a steady rise in market size in 2022. Market players are adopting strategies that will contribute to the continued rise of the market over the forecast period.
According to research and analysis provided in the Automotive Robotics Market Research report, the market is estimated to be worth USD 8,961.1 million in 2022 and is forecast to reach a readjusted size of USD 16,760 million by 2028, with a compound annual growth rate (CAGR) of 11.0% during the review period.
The Articulated Robots segment is the largest contributor to the Automotive Robotics market, accounting for a significant percentage of the global market in 2021. This segment is projected to grow at a revised CAGR in the post-COVID-19 period. Additionally, the Automotive Production segment is expected to have a considerable CAGR throughout the forecast period.
In terms of regional analysis, China holds a considerable market share for Automotive Robotics, valued at USD million in 2021. The US and Europe also have significant market sizes, with the US at USD million and Europe at USD million. It is predicted that China will reach a larger proportion of the market by 2028, trailing a CAGR of percent throughout the analysis period. Other noteworthy markets in Asia include Japan, South Korea, and Southeast Asia, with a CAGR of percent, percent, and percent, respectively. In terms of the European market, Germany is projected to reach USD million by 2028, trailing a CAGR of percent.
Leading manufacturers in the Automotive Robotics market include ABB, KUKA, Denso Wave, Yaskawa Electric, Kawasaki Heavy Industries, COMAU, Nachi-Fujikoshi, Rockwell Automation, and Seiko Epson. These top five players held a significant market share in terms of revenue in 2021.
The factors driving the growth of the Automotive Robotics market include the growing demand for Automotive Production, Automotive Maintenance and Repair, and Workshop Assistant applications. These applications have had a direct impact on the market’s growth.
The Automotive Robotics market is segmented based on types, including Articulated Robots, Cartesian Robots, Cylindrical Robots, SCARA Robots, and Others. Among these types, Articulated Robots held the largest market share in 2023.
In terms of regions, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa are leading the Automotive Robotics market. These regions contribute significantly to the market’s size and growth.
In conclusion, the Automotive Robotics market is expected to grow significantly by 2030. The market’s growth is driven by factors such as the demand for various applications and the adoption of different types of robots. Manufacturers in the market are implementing strategies to capitalize on the market’s growth potential.
Sources: Automotive Robotics Market Insights Report 2023, ABB, KUKA, Denso Wave, Yaskawa Electric, Kawasaki Heavy Industries, COMAU, Nachi-Fujikoshi, Rockwell Automation, Seiko Epson
Note: URLs of sources not provided for this article.