.png){kind=logo}
The global industrial robots in the automotive market are expected to reach US$13.6 billion by 2025, at a CAGR of 13.8%. The increasing adaptation of automation and robotics within the automotive industry is a major factor expected to drive market growth.
Industrial revolutions and initiatives taken by the government regarding the automation of manufacturing sectors boost the sales of automotive robots. The governments are providing tax exemptions for R&D and providing tax cuts that will reduce the cost of manufacturing and improve the manufacturing opportunities in the countries rather than going for offshore manufacturing.
Based on segment, the automotive industry is accounted for the highest share of the industrial robotics market. Around 28% of all industrial robot installations take place in the automotive industry. The market for industrial robotics in the electrical and electronics industry is probably the one most affected by the China-US trade crisis as Asian countries (e.g., China, Japan, Republic of Korea) are leaders in manufacturing electronic products and components.
The automotive industry is the largest industry, with more than 130,000 units installed in all facilities worldwide. 95% of top executives of automotive companies with revenues of more than 11 billion dollars believe that there will be a significant increase in investments in robotics and automation during the forecast period. However, 82% of automotive organizations lack resource alignment and preparedness to execute faster change to increase revenue, profit, and safety. This is an incredible opportunity for robot manufacturers to market their machinery to OEMs.
The automotive industry has been making use of industrial robotics in the production process for many years now. A large part of automotive robots is held by articulated robots, and by functions, welding makes the largest use of robots in the automotive industry. Robotic systems in the automotive industry are cost-effective, efficient, and safe, as they can discharge their job quicker than their human counterparts.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
