Global Automotive Robotics Market 2018 Key Growth Drivers, Challenges, Demand and Upcoming Trends

The global automotive robotics market is predicted to grow at a CAGR surpassing 11% over the forecast period (2016-2024). The market is likely to exceed USD 16 billion by 2024. Demand for trucks, cars, buses, and off-road vehicles will drive the industry. Growth in automotive manufacturing will increase the demand for automotive robots. Investment in new production capacity of emerging markets could add to market growth. Modernization in automobile manufacturing can stand to benefit the market.

Rising research & development (R&D) in technology and focus on enhanced production capacity & sustainability, could fuel the industry in the forecast period. Surging investments in emerging markets will positively impact the industry. The need for absolute precision & reduced production time could contribute to market demand. Precision tasks mainly include packaging and welding. Moreover, shortage of skilled labor may catapult industrial demand till 2024. Greater quality control coupled with increasing wages could augment the demand automotive robotics.

High capital investment is a major challenge facing the global automotive robotics market. Another factor impeding market progress is the uncertain return on investment. The lack of skilled labor for specialized activities such as electrical, embedded, software, and other mechanical tasks could hamper industry growth.

Key Players:
Participants in the worldwide automotive robotics industry are the ABB Group, KUKA AG, Yamaha Robotics, and FANUC Corporation. These companies focus immensely on R&D to develop innovative technology. They also partake in mergers & acquisitions to enhance their market shares.

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The global automotive robotics market is split into applications, products, and regions. Applications include automated guided vehicles (AGVs), assembling, painting, welding, cutting, and dispensing, among others. Robots are deployed to find the minutest manufacturing differences in handling activities. The robot-to-robot work ensures quality and efficiency of the product.

Painting of a vehicle is an integral part of its manufacturing process. It calls for consistency and precision throughout production. When used for painting, automotive robots employ flow meters. These reduce wastage and ensure that the paint is evenly coated on the vehicle body. Companies direct their R&Ds towards enhancing productivity and reducing costs & delivery time.

Furthermore, automotive robots perform tasks, such as laser welding, machine loading, material handling, packaging, parts leaning, palletizing, pick & place, polishing, sealing, spraying, and welding. These applications can augment market demand during the forecast period.

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