Jun 28, 2021   SOURCE: BusinessWire

Insights on the Automotive Robotics Global Market to 2026 - Featuring ABB, Omron Adept Robotics and Honda Motor Among Others - ResearchAndMarkets.com

The "Automotive Robotics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The automotive robotics market iwas valued at USD 9 billion in 2020 and is anticipated to reach USD 16 billion by 2026, at a CAGR of over 10% during the forecast period (2021 - 2026).

Companies Mentioned

  • ABB
  • Omron Adept Robotics
  • FANUC
  • Honda Motor Co. Ltd
  • Kawasaki Robotics
  • KUKA Robotics
  • Yaskawa Electric
  • Harmonic Drive System
  • RobCo S.W.A.T. Ltd.
  • Nachi-Fujikoshi Corp

Key Market Trends

Technological innovations are driving the market growth

The automotive manufacturing segment has been taking rapid steps in the industrial automation domain emerging as a role model for the other industries by showcasing how automation should be utilized to scale up the value chain and achieve zero-defects manufacturing. The automotive industry has been an early adopter of robotics for applications, like welding, painting, glue dispensing, etc. However, there are plenty of robotic applications available to choose from within the industry.

Now, the automotive industry is shifting its focus toward the new technology trends, like compact robot and controller, higher communication speed, low spatter, and high-speed welding, human collaborative robot with industry 4.0.

Now with all application automobile company moving toward Internet of Things (IoT). Growth in the IoT concept and technological advances have boosted the use of automated technologies in various industries. The high penetration rate of smart devices and the use of wireless and cloud technologies will change the face and mode of operation of robots in the near future.

Asia-Pacific is Expected to Lead the Automotive Robotics Market

Asia-Pacific is the fastest developing region globally, with countries, like India, China, Taiwan, and South Korea evolving as the leaders in this region. Leading vendors, such as ABB and KUKA are instituting the region as their operation's base. Furthermore, government regulations and funds have empowered projects to improve the infrastructure. These aspects have made APAC the favored automotive manufacturing hub, which will drive the automotive robotics market.

Countries, such as China and India are the principal countries in Asia-Pacific in terms of development, and many industries, such as automotive, electronics, and aviation are opening their factories in these countries, which is generating the demand for the automotive robotics market, making Asia-Pacific an emerging region.

Major players in the region are adopting robotics and other advance manufacturing technology for their upcoming vehicles. For instance, in January 2021, Byton has signed a manufacturing deal with Foxconn, which will be providing advanced manufacturing technology, operation management expertise and supply chain resources to Byton. The two companies will work together for Byton's M-Byte electric SUV across all stages of its production line for introducing the SUV in Chinese market by 2022.

Morover, Byton Nanjing factory was built to industry 4.0 standards using leading manufacturing equipment and technology. The welding shop comprise of 335 welding robots by Kuka.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Drivers

4.2 Market Restraints

4.3 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By End-user Type

5.2 Component Type

5.3 By Product Type

5.5 Geography

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/23vrn1