Industrial Automation Magazine India

Automotive Robotics Market size to reach USD 14,170 Mn by 2026

Published on : Wednesday 30-12-2020

Market players are introducing application specific robots to meet the growing needs of the automotive industry.

December 2020 – The Automotive Robotics Market is anticipated to reach over USD 14,170 million by 2026 according to a new research published by Polaris Market Research. In 2017, the articulated robots dominated the global automotive robotics market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global automotive robotics market revenue in 2017.

There has been an increase in the demand of automotive robotics across the world owing to greater need for automation of manufacturing processes. With the increasing use of collaborative robots in automotive applications, the overall demand for robotics to also influence the automotive robotics market growth. Automotive robots are being adopted by small and medium sized organisations at a huge pace for automation of manufacturing processes.

Market players are introducing application specific robots to meet the growing needs of the automotive industry. Growing need for automation and increasing labour costs further fuels the automotive robotics market growth. In addition, availability of affordable, high quality customised robotics solutions for diverse applications in the automotive industry stimulates the market growth.

With international labour safety standards becoming more stringent, robots are being employed in hazardous environments in place of humans. Robots find application in situations that are dangerous and unsafe for human beings to work, such as working in irregular terrains and handling hazardous substances. Robots enable organisations to avoid risks and reduce the number of work accidents. This factor leads to greater adoption of robotics solutions in the global automotive industry.

Owing to stiff competition in the global automotive market, players are introducing low-cost and high quality robots to meet consumer demands. The advancements in technology enable developers to design new innovative products while maintaining the affordability of the product. The recently developed robots are energy efficient and designed to serve specific applications in the automotive industry. Acceptance of such robots by small and medium businesses has increased owing to its low cost and increased flexibility.

The key players operating in the market include Fanuc Corporation, Rockwell Automation, Inc., ABB Ltd, Kawasaki Heavy Industries, Kuka AG, Denso Corporation, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Nachi-Fujikoshi Corporation, DiFacto Robotics and Automation Pvt Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.