Automotive Robotics Market: Current Analysis and Forecast (2021-2027)

The worldwide automotive robotics market is expected to rise as the automotive industry automates and improves accuracy, safety, and productivity. Furthermore, the industry is growing due to lower labor costs in businesses. However, the expensive cost of industrial robotics limits market expansion. Furthermore, factors such as the adoption of Industry 4.0 are expected to present significant growth opportunities for the automotive robotics market over the forecast period. The persistence of high investment in the production capacity of new or advanced automotive product lines in an evolving market, modernization in key automobile producing regions such as the United States, Russia, Germany, India, China, Japan, and others, and emerging need for saving product launch time, evolving need for an alternative source for unskilled labor or eliminating the issue of rising labor costs, and others are the major drivers of robot demand in the automotive industry.

Based on component, the market is segmented into Controller, Robotic arm, End effector, Sensors, Drive, and Others. The Controller segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. In terms of value, the controller category is predicted to have the greatest market share in 2020. The increased sales of all types of robots that use the controller are a major driver of the industry. Another cause for its dominance is due to its ability to offer high motion control and faster integration with any additional hardware

Based on type, the market is segmented into Articulated, Cylindrical SCARA, Cartesian, and Others. The Articulated segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Rotary joints are found on articulated robots. Rotary joints can range in complexity from a simple two-joint mechanism to a complicated ten-joint device. The most frequent type of robot utilized in the automotive industry is an articulated robot. High flexibility enables quick process changes, which is why small and medium-sized businesses are embracing articulated robots, resulting in increased global demand

Based on application, the market is segmented into Welding, Painting, Cutting, Material Handling, and Others. The Welding segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. The rising deployment of welding robots is linked to factors such as improving production line safety and efficiency and boosting the speed of multi-material vehicle production

For a better understanding of the market adoption of Automotive Robotics, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World

Some of the major players operating in the market include Kawasaki Heavy Industries, Ltd, Fanuc Corporation, Yaskawa Electric Corporation, Abb Ltd, Comau SPA, Nachi-Fujikoshi Corp, Rockwell Automation, Inc, Seiko Epson Corporation, Denso Wave Incorporated and Kuka Ag