Press release
Automotive Robotics Market to Witness Robust Expansion Throughout the Forecast Period 2022 - 2028
Automotive Robotics Market
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Companies Profiled in this report includes: ABB Ltd., Comau SpA, DENSO WAVE INCORPORATED, Fanuc Corporation, Kawasaki Heavy Industries, Ltd., Kuka AG, Nachi-Fujikoshi Corp., Rockwell Automation, Inc., Seiko Epson Corporation, Yaskawa Electric Corporation
MARKET SEGMENTATION
Based on type, the market is segmented into articulated, Cartesian, SCARA, and cylindrical
On the basis of component, the market of segmented into controller, robotic arm, end effector, sensors, and drive.
Based on application the market is fragmented into welding, painting, cutting, and material handling
MARKET DYNAMICS
Drivers
Increasing vehicle production as well as wages inflation
Growing investments for automated production facilities
High investments in developing countries
Restraints
Complex and expensive set-up
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IMPACT OF COVID-19 ON AUTOMOTIVE ROBOTICS MARKET
COVID-19 severely impacted the automobile industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the automobile and transportation industry, including Automotive Robotics manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Robotics suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted and vaccine drives are held successfully, the demand for passenger cars is expected to rise. Since Automotive Robotics are finding huge application in various production facilities worldwide, the demand for such products is expected to revive with the rise in demand for vehicles.
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Contact Us:
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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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