Automotive Robotics Market Size, Share, Industry Trends and Forecast to 2030

Automotive Robotics Market Size & CAGR in 2021:

The global automotive robotics market is expected to experience a growth rate of 5.2% CAGR from 2021 to 2028. This growth is anticipated to result in the market size reaching USD 8.6 billion by 2028.

COVID-19 Impact on the Automotive Robotics Market:

The automotive robotics market faced significant disruptions due to the COVID-19 pandemic. The global supply chain was severely affected, leading to delays in production and delivery schedules. The automotive industry as a whole experienced a downturn as car sales plummeted during lockdowns. However, as the industry recovers, there is a renewed focus on automation and robotics to improve efficiency and reduce the risks associated with manual labor in manufacturing.

Automotive Robotics Dynamics:

The automotive robotics market is driven by the increasing demand for automation in the manufacturing sector to improve productivity and quality. Advancements in robotics technology, such as artificial intelligence and machine learning, are further propelling the market growth. However, challenges such as high initial investment costs and the need for skilled personnel to operate and maintain robotics systems are hindering the market's growth.

Segments and Related Analysis:

The automotive robotics market can be segmented based on type into articulated robots, SCARA robots, Cartesian robots, and others. Articulated robots are the most commonly used type in automotive manufacturing due to their flexibility and precision. SCARA robots are also popular for assembly line tasks. The market can also be segmented based on application into welding, painting, assembly, and others.

By Region Analysis:

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the key regions analyzed in the automotive robotics market. Asia Pacific holds the largest market share due to the presence of major automotive manufacturers in countries like China, Japan, and South Korea. North America and Europe also have significant market shares owing to technological advancements in automation and robotics.

Key Market Players and Competitive Landscape:

Some of the key players in the automotive robotics market include ABB Ltd., Fanuc Corporation, KUKA AG, Yaskawa Electric Corporation, and Denso Corporation. These companies are focusing on developing advanced robotics solutions to cater to the evolving needs of the automotive industry. Partnerships and collaborations are also common strategies to strengthen market position.

Recent Happenings in the Automotive Robotics Market:

- In June 2022, ABB announced the launch of its new robotic painting system for automotive manufacturers to improve efficiency and quality in the painting process. - Fanuc Corporation introduced a new collaborative robot model in May 2022, designed to work alongside human workers in automotive assembly lines. - KUKA AG partnered with Volkswagen in April 2022 to develop and implement cutting-edge robotics solutions for Volkswagen's manufacturing plants. - Yaskawa Electric Corporation collaborated with Toyota in March 2022 to integrate its robots into Toyota's production lines for enhanced automation and productivity. - Denso Corporation unveiled its latest robotic welding system in February 2022, aimed at streamlining welding processes in automotive manufacturing.