NEW YORK, Jan. 23, 2017 /PRNewswire/ -- "Rising cost of labor and increasing vehicle production to drive the global automotive robotics market"
The global automotive robotics market is estimated to be USD 5.07 billion in 2016, and is projected to reach USD 8.44 billion by 2021. The market, in terms of value, is projected to grow at a CAGR of 10.74% from 2016 to 2021. Factors such as wage inflation, automotive OEM's and component suppliers focus on enhancing the overall competitiveness as well as growing vehicle production is expected to drive the market. However, high initial capital expenditure associated with robotics as well as maintenance costs would pose challenge to the growth of overall market in years to come.
"Versatility and cost effectiveness are key drivers of the articulated robotics market"
The articulated robotics segment is estimated to account for the largest market share in 2016. Within automotive industry, articulated robots are a cost effective solution for processes that require flexibility in terms of motion, working envelope, and payload capacities. Growing demand for wide range of applications in automotive manufacturing is projected to drive the articulate robots markets.
"Increasing labor costs and growing vehicle production will likely drive the automotive robotics market in the Asia-Pacific region"
Asia-Pacific is estimated to be the largest market for automotive robotics. The Asia-Pacific automotive robotics market, in terms of value, is projected to post the highest CAGR from 2016 to 2021. This can be mainly attributed to the rising labor cost particularly in China and continuous increase in vehicle production in the region.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 42 %, Tier 2 - 26%, Others - 32%
- By Designation - C level - 40%, D level - 29%, Others - 31%
- By Region - North America - 38%, Europe - 22%, Asia-Pacific - 30%, Rest of the World - 10%
Major players profiled in the report are:
- ABB Ltd. (Switzerland)
- Fanuc Corp (Japan)
- KUKA AG (Germany)
- Yaskawa Electric Corporation (Japan)
- Kawasaki Robotics (Japan)
This market study covers the automotive robotics including Articulated, Cartesian, SCARA, Cylindrical, and Others. The components identified in the report include controller, robotic arm, end effector, drive and sensors. Additionally, the report covers the market on application basis such as welding, painting, cutting, material handling, palletizing & packaging, and assembly/disassembly. The report considers market scenarios in automotive robotics for different regions such as North America, Europe, Asia-Pacific, and RoW. A proper mix of developed and developing economies has been considered in this study, markets such as U.S., Canada, Mexico, Germany, U.K., Italy, China, Japan, India, Brazil, and others are considered. Company profiles containing information about product offerings, business strategies for leading players such as ABB Ltd, KUKA AG, FANUC Corp, Yaskawa Electric, Kawasaki Robotics, Denso Wave Incorporated, Nachi Robotic Systems, Epson, Comau, Rockwell Automation.
Reasons to Buy the Report:
The report provides insights about the following points:
- Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive robotics market
- Market Development: Comprehensive information about types of automotive robotics. The report analyzes the market for various automotive robotics across multiple regions
- Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive robotics market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the automotive robotics market
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