Automotive Robotics Market Size

Automotive Robotics Market Analysis

The Automotive Robotics Market size is estimated at USD 10.80 billion in 2024, and is expected to reach USD 18.40 billion by 2029, growing at a CAGR of 11% during the forecast period (2024-2029).

Automotive robots are designed to support the production of automobiles in the automotive industry. This extraordinary growth of electric vehicles is positively inducing the use of robots to meet the market's growing consumer requirements. The automotive industry has been using industrial robotics in production for many years.

Articulated robots hold a large part of automotive robots; by function, welding makes the largest use of robots in the automotive industry. Robotic systems in the automotive industry are cost-effective, efficient, and safe, as they can do their job quicker than their human counterparts.

Several companies majorly focus on reducing costs, saving time, producing high-quality products, and increasing productivity with a minimum error rate in the automation industry, thus driving the market. In the production plant, automotive robots are deployed to automate internal processes to reduce the workload of employees by creating a work collaboration with the workers to improve efficiency. Companies such as Ford Motors Co. and BMW are working on introducing technology in their production plants.

For instance, in November 2023, Realtime Robotics announced the launch of its new Optimization-as-a-Service solution. The solution uses a combination of proprietary optimization software and experienced robotics and applies engineering insights to improve a manufacturer’s overall productivity. It has recently been used by Volkswagen Commercial Vehicles in Hanover, Germany, in a proof-of-concept project for EV manufacturing.

With the rising advancements in vehicle technologies and growing demand for electric vehicles, automotive robotics is expected to witness strong growth in the automotive industry for various robotic operations involved in the automobile production process. Considering the market potential, robotic manufacturers are working on launching various new models to cater to the high demand for robotics in the automotive industry.

For example, in June 2023, ABB announced the launch of four new large robot models and 22 variants to support automotive customers with next-generation models, including the IRB 6710, IRB 6720, IRB 6730, and IRB 6740.

North America is expected to grow significantly during the forecast period, followed by Europe and Asia-Pacific. Factors such as strategic collaborations among key players, growing vehicle production due to inflating disposable incomes in emerging economies, and rising investments in R&D activities for introducing energy-efficient automotive robots are creating a positive outlook for the market.