Market Research Report
Global Automotive Robotics Market Forecast 2021-2028
|Global Automotive Robotics Market Forecast 2021-2028|
Published: September 14, 2021
Content info: 274 Pages
Delivery time: 2-3 business days
The global automotive robotics market is evaluated to project a CAGR of 12.16% over the estimated years of 2021 to 2028. The market growth is mainly attributed to factors such as the prominence of automation and robotics in the automotive industry, the increasing demand for vehicle production, and the surging need for workplace safety.
The use of robots across industries like car manufacturing has presented significant opportunities for anticipating and further addressing potential issues within the process of production before they occur. Moreover, by acquiring performance reports from cobots (collaborative robots) as well as other industrial robots in assembly lines and on the floor, firms can identify possible problem areas existing in machines, workflows, and equipment.
According to industry sources, 2021 will likely observe strong production growth rates. Mainland China is set to lead the global manufacturing growth, followed by Europe, North America, and other regions of Northeast Asia. In this regard, vehicle production is expected to rise by 6% in mainland China, 24% in North America, and14% in Europe. In addition, the demand for synthetic and natural rubber is likely to increase as strong growth is predicted from the automotive as well as tire industries. The replacement tire sector will also witness high demand since vaccinations have begun and improved mobility indicators globally.
The global automotive robots market growth assessment entails the analysis of North America, the Asia-Pacific, Europe, and the Rest of World. The Asia-Pacific is set to be the leading and dominating region during the forecast period, on account of the increasing need for minimizing collisions in the automotive sector, increased productivity optimization, and reduced labor costs across organizations.
The global automotive robots market observes intense rivalry among players. The market is characterized by continuous innovation, thereby leading to a sustainable competitive advantage. Furthermore, since every firm possesses a different strategy and core competencies, the intensity of rivalry is high. Some of the top companies operating in the market are ABB Ltd, Kawasaki Robotics Inc, Yamaha Robotics Inc, etc.