Automotive Robotics Market Analysis

Automotive Robotics Market Analysis

Articulated robots will account for over 35% automotive robotics market revenue share by 2024 driven by its increase usage in material handling, welding, material removal and dispensing. They have usually four to six axes but with advanced technologies and development it may have up to ten axes, making them more versatile. This in turn, enhances company’s productivity via improved accuracy and speed. These products are shrinking in terms of prices owing to its longer life shelf.
 

High adoption rate of SCARA robots is expected due to handling and high-speed assembly operations. Increased output and reduced bottlenecks will result in acceptation of SCARA robots.
 

Micro-manufacturing automation is a key contributing factor driving the parallel robot segment demand. Innovations in these products have opened growth prospects for multiple end-user.
 

Software & services segment is expected to dominate over 27% market share by 2024. Developments such as cloud-based platform, will propel the industry share. Some of the key market players provide an open software platform for enabling the advanced analytics and learning capabilities, CNCs, sensors, and peripheral devices used in the systems.
 

Software loaded into the computing hardware enables data access from PLC, machine tool device, and apply analytics in real time to take immediate action. Proper running of software eliminates risk of production downtime. These advancements will spur the automotive robotics market demand.
 

Increasing advancements in hardware components, such as controllers, arms, end effectors, drives, and sensors, will drive the hardware segment growth. Global automotive robotics hardware components generated USD 3 billion revenue in 2016. Increasing adoption of small-sized controllers by various OEMs is an emerging trend, which is gaining prominence in the market.
 

Controller is a commonly used hardware in the manufacturing process owing to its regular functionalities and technological advancements in the industry. It accounted for more than 25% of the overall hardware segment share in 2015. High adoption rate of the arms is observed in several jobs that are more repetitive and causes fatigue to human labors. Light weight model, easy deployment, and compact structures will augment the automotive robotics market growth.
 

Handling operations application segment is anticipated to showcase a significant growth at over 5.5% through 2024 impelled by its increasing installation in the vehicle manufacturing plants. Advancements in software, vision, and gripper technology will facilitate handling operations. The product is required to lift heavy materials in bulk quantities and transfer partially assembled vehicles from one assembly line to another for its further processing.
 

The robotic assembly segment accounted for more than 15% market share in 2016. Increased powertrain and body-in-white assembly application has further enhanced the scope of automotive robotics market. Moreover, almost 90% of automated operations are done by the machine in final assembly.
 

China automotive robotics market has increased drastically in past two to three years on account of increasing Automobile-4.0-Robotics program covering hydronics, packaging machinery, welding, process equipment, SPS IPC drives, and fluid power.
 

North America automotive robotics industry revenue was over USD 1 billion in 2016 due to automation, modernization, and robotization as the primary investments for OEMs. Competitive advantage and reduced per hour cost as compared to human results will augment the regional market growth.
 

Europe market, led by Germany and Italy, is estimated to expand at 3.5% from 2017 to 2024 owing to wide presence of strong automobile industry foothold in the region. In addition, retrieval from economic recession in Germany, Belgium, Netherlands, Austria, Spain and Finland will fuel the European automobile industry, further propelling the market growth.