Market Research Report
Asia-pacific Automotive Robotics Market Forecast 2021-2028
|Asia-pacific Automotive Robotics Market Forecast 2021-2028|
Published: September 14, 2021
Content info: 149 Pages
Delivery time: 2-3 business days
The Asia-Pacific automotive robotics market is projected to record a CAGR of 12.85% over the forecasting years of 2021 to 2028. Factors such as the rising need for minimizing collisions in the automotive sector, the increasing rates of vehicle production, rapid modernization, and reduced organizational labor costs are associated with the regional market's growth.
The Asia-Pacific automotive robotics market growth evaluation constitutes the assessment of China, Japan, Thailand, Taiwan, India, South Korea, Indonesia, and the rest of the Asia-Pacific. As measured by automobile unit production, South Korea's automotive industry is the fifth-largest worldwide. The country is the sixth-largest in terms of automobile export volume, as well. Although its initial operations only included assembling parts imported from international firms, currently, South Korea is among the most advanced automobile manufacturers worldwide. Moreover, according to industry sources, South Korea surpassed the ranking of other nations on the basis of robot density within the automotive industry in 2017.
On the other hand, Thailand's automation and intelligent robotics industry has significantly augmented over recent years. The country's market growth is facilitated by the rising demand from both overseas and domestic industries, integrated with its well-established ecosystem. Furthermore, with 45 industrial robots for every 10,000 employees in 2019, Thailand was the second-largest market for robotics as well as automation across ASEAN, following Singapore. As a result, these factors are set to play a crucial role in propagating the automotive robotics market growth in the Asia-Pacific during the estimated period.
Distinguished firms operating in the market are: Kawasaki Robotics Inc, Denso Wave Incorporated, FANUC Corporation, etc.