A recently published report from Research and Markets projects that the global automotive robotics market will grow from US$ 8.04 Billion in 2023 to US$ 16.55 Billion by 2030. This reflects a Compound Annual Growth Rate (CAGR) of 10.86% during the 2024-2030 period. The automotive industry, recognized for its highly automated supply chains, significantly invests in robotics, with 30% of its total industry sector investments allocated towards this technology.
The market growth is primarily driven by rapid advancements in technology, including the integration of the Internet of Things (IoT), cloud solutions, and Autonomous Intelligent Vehicles (AIVs), which facilitate secure transport of components and materials. To achieve the environmental objectives set for 2030, governments worldwide are emphasizing the production of low- or zero-emission vehicles, necessitating the adoption of innovative technologies like smart sensors and collaborative robots.
In recent years, operational efficiency improvements have led to reduced operating costs in the automotive industry, notably through decreased raw material wastage and enhanced workflow efficiency, thereby boosting profitability. The global automotive robotics market is characterized by a competitive landscape with numerous substantial and well-established companies.
A significant trend in the market is the increasing competition due to the introduction of new technologies, such as collaborative robots. The Chinese government’s ‘Made in China 2025′ initiative, aiming to enhance the country’s technological prowess, has also influenced the market dynamics.
The concept of Industry 4.0 plays a critical role in this sector, focusing on automation, real-time data, interconnectivity, and machine learning. It incorporates smart digital technologies like robotics, AI, data analytics, and cloud computing, contributing to more efficient and reliable industrial robots.
In terms of market components, robotic arms lead the automotive robotics market, attributed to their precision, speed, and versatility in tasks such as welding, painting, and assembly. Articulated robots are also gaining prominence in the automotive industry, expected to hold a significant market share in the coming years. These robots are highly adaptable, making them ideal for complex tasks in vehicle manufacturing.
The report also highlights the growth in the material handling sector within the automotive robotics industry, pointing towards the increasing role of robotics in managing and processing materials more efficiently in automotive manufacturing.
Regionally, China is anticipated to show significant growth in the automotive robotics market, aligning with the country’s focus on technological advancement and responding to labor cost challenges. Meanwhile, the United States leads in adopting robotics for various tasks, including material handling, indicating its commitment to maintaining competitiveness in the manufacturing sector.
