Automotive Robotics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

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).

The automotive industry which was already going through slow growth further get affected by COVID-19 and the subsequent shutdowns in all the major market. In 2020 all the automakers and tier players wittnessed decline in production and sales of vehicles and components.

This extraordinary growth of the electric vehicles is positively inducing the use of robots for meeting the growing consumer requirement of this market. Automotive robots are designed for supporting the production of automobiles in the automotive industry.

Automotive industry is the largest industry with more than 130000 units installed in all facilities worldwide. 95% of top executives of automotive companies with revenues more than 11 billion dollars believe that there will be a significant increase in investments in robotics and automation during the forecast period. However, 82% of automotive organizations lack resource alignment and preparedness to execute faster change to increase revenue, profit and safety. This is an incredible opportunity for robot manufacturers to market their machineries to OEMs.

The automotive industry has been making use of industrial robotics in the production process for many years now. The large part of automotive robots is held by articulated robots and by functions, welding makes the largest use of robots in automotive industry. Robotic systems in the automotive industry are cost effective, efficient, and safe as they are capable of discharging their job quicker than their human counterpart.

Scope of the Report

The automotive robots are used by automoitve companies for various task. The automotive robotics market is segmented by end-user type, component type, product type, function type, and geography. The end-user type includes vehicle manufacturers, automotive component manufacturers. the component type includes controller, robotic arm, end effector, drive and sensors. the product type includes cartesian robots, scara robots, articulated robot, other product types. the function type includes welding robot, painting robot, assembling and disassembling robot, cutting and milling robot. the report provides the market size and forecasts for all the major countries in North America, Europe, Asia-Pacific, and Rest of the World. The profiles of major players in the market are also covered along with their market shares. The market size and forecast are provided by value (USD billion).

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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. For instance.

• The new trend which automotive industry is witnessing is with respect to Autonomous Intelligent Vehicles (AIV) or mobile robots for material and intermediate goods transport. Robots are also emerging as one of the key parts of end-to-end traceability automation solutions.
• Another recent trend is collaborative robots; these robots are human friendly on assembly lines. Such a robot has two arms and works with human collaboratively to get the best from human and robot. Such robots are as good as a portable robot, which can be placed on worktables and humans can seat next to it while working.
• An articulated robot has rotary joints. The rotary joints can range from a simple 2 joints mechanism to complex 10 or more joints mechanism. Articulated robot is the most common type of robot used in automotive industry. High flexibility allows easy process changeovers and this is the reason why small and medium scale enterprises are adopting articulated robots, thus increasing demand on a global level.

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.

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