DUBLIN, Aug. 11, 2023 /PRNewswire/ — The “Global Automotive Manufacturing Equipment Market Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global automotive manufacturing equipment market is poised for substantial growth, with the market size estimated to expand from USD 6.7 billion in 2023 to USD 11.4 billion by 2028, at an impressive CAGR of 11.1% during the forecast period from 2023 to 2028. This growth is driven by multiple factors, including the rising demand for automobiles, especially in emerging markets, prompting manufacturers to expand their production capabilities.
Moreover, continuous technological advancements in the industry, such as robotics and automation, are leading to more advanced and efficient manufacturing equipment. Additionally, government initiatives focusing on reducing carbon emissions and improving fuel efficiency are driving the demand for specialized manufacturing equipment for electric and hybrid vehicles, presenting lucrative opportunities for innovation and success in the market.
Robot Segment to Lead the Market
The robots segment is expected to hold the largest share of the automotive manufacturing equipment market during the forecast period. This is attributed to several factors, including the significant increase in productivity achieved by robots due to their continuous operation without breaks, reducing downtime and enhancing efficiency. Robots’ precision and consistency in completing tasks lead to higher-quality output and increased customer satisfaction.
Safety is another critical driver for the adoption of robots in automotive manufacturing, as they can handle hazardous or repetitive tasks, minimizing the risk of workplace injuries and improving worker safety. Furthermore, automation of certain processes results in cost savings, improved efficiency, and increased production volumes of high-quality products, leading to higher profitability and market share for companies.
Automatic Segment to Exhibit High CAGR
The automatic segment is expected to grow at a significant CAGR during the forecast period, fueled by technological advancements in automation systems, making them more reliable and efficient compared to semi-automatic and manual systems.
Automatic systems require less human intervention, resulting in faster and streamlined production processes, leading to cost savings and increased profitability for manufacturers. As a result, the automotive manufacturing equipment market in the automatic segment is witnessing rapid growth.
Asia Pacific: A Prominent Growth Region
Asia Pacific is a major region experiencing remarkable economic growth, with countries like China and India investing heavily in infrastructure, including transportation networks and manufacturing facilities. This has led to increased demand for automotive manufacturing equipment, particularly for modernized factories and production lines.
Additionally, the region is witnessing a surge in demand for electric and hybrid vehicles, leading to increased investment in specialized manufacturing equipment for components like batteries. The region’s growing demand for automobiles and related equipment is driving the growth of the automotive manufacturing equipment market.
Major Players
Key players in the automotive manufacturing equipment market include ABB (Switzerland), FANUC CORPORATION (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd (US), AMADA CO., LTD. (Japan), AIDA ENGINEERING, LTD. (Japan), Durr Group (Germany), Schuler Group (Germany), TRUMPF (Germany), Universal Robots (Denmark), Daifuku Co., Ltd. (Japan), and Yamazaki Mazak Corporation (Japan), among others.
Research Coverage
The report segments the automotive manufacturing equipment market based on equipment type, mode of operation, vehicle type, and region. Equipment types include CNC machines, conveyor belts, injection molding machines, robots, stamping machines, and welding machines. Mode of operation is classified as automatic and semi-automatic, while vehicle types include passenger vehicles and commercial vehicles. The study also forecasts the market size in four main regions – North America, Europe, Asia Pacific, and RoW.
Market Dynamics
- Drivers
- Elevated Sales of Electric and Hybrid Vehicles Globally
- Increased Use of Automation by OEMs in Developed Countries to Boost Cost Efficiency
- High Adoption of Industry 4.0 by Automakers
- Restraints
- High Installation and Ownership Costs for SMEs
- Opportunities
- Increasing Demand for ML and AI by Automobile Companies
- Thriving Automotive Sector in Emerging Economies
- Challenges
- Vulnerability of Industrial Manufacturing Systems to Cyberattacks
- Interoperability and Integration-Related Issues
Premium Insights
- Increasing Adoption of Automation Technologies to Create Lucrative Opportunities for Players in Automotive Manufacturing Equipment Market
- Robots to Capture the Largest Share of Automotive Manufacturing Equipment Market in 2028
- Automatic Segment to Exhibit Higher CAGR in Automotive Manufacturing Equipment Market During Forecast Period
- Passenger Vehicles Segment to Hold Larger Share of Automotive Manufacturing Equipment Market Between 2023 and 2028
- India to Record Highest CAGR in Global Automotive Manufacturing Equipment Market from 2023 to 2028
Other Key Insights
- Value Chain Analysis
- Ecosystem Analysis
- Pricing Analysis
- Trends/Disruptions Impacting Customer Business
- Technology Analysis
- 3D Vision Systems and 3D Scanners
- Industrial Internet of Things and AI
- Robotic Vision
- 5G
- Safety Sensor-Enabled Industrial Robots
- Porter’s Five Forces Analysis
- Threat of New Entrants
- Threat of Substitutes
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Intensity of Competitive Rivalry
- Key Stakeholders and Buying Criteria
- Case Studies
- G-Tekt Adopted ABB’s Robotic Solutions to Handle Heavy Automotive Components
- Beijing Automotive Industry Holding Co. Ltd. (BAIC) Implemented ABB’s Robots to Increase Production of Electric Cars
- Jtekt Integrated Fanuc’s Robots into Its Production Line to Increase Plant Efficiency and Productivity
- Seeger Precision Parts Ltd. Deployed Fanuc’s CNC Machines to Manufacture a Diverse Range of Automobile Parts
- P.M.C. Installed Kuka AG’s Modular Robot Cells for Welding Applications
- Trade Analysis
- Patent Analysis
- Key Conferences and Events, 2023-2024
- Regulations and Standards
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Manufacturing Market, by Equipment Type
7 Automotive Machine Equipment Market, by Mode of Operation
8 Automotive Manufacturing Market, by Vehicle Type
9 Automotive Manufacturing Equipment Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent and Related Markets
13 Appendix
Companies Mentioned
- ABB
- Aida Engineering, Ltd.
- Amada Co. Ltd.
- Arburg GmbH + Co. KG
- Comau S.p.A.
- Daifuku Co. Ltd.
- Datron CNC Milling Machines
- Durr Group
- Engel Austria GmbH
- Estun Automation Co. Ltd.
- Fanuc Corporation
- HaaS Automation, Inc.
- HD Hyundai Robotics
- Hurco Companies, Inc.
- Kawasaki Heavy Industries, Ltd.
- Kenmode, Inc.
- Kuka AG
- Makino Milling Machine Co. Ltd.
- Milacron LLC
- OCS Overhead Conveyor System AB
- Okuma Corporation
- Omron Corporation
- Schuler Group
- Shibaura Machine Co. Ltd.
- Shuttleworth LLC
- Siasun Robot & Automation Co. Ltd.
- Trumpf
- Universal Robots
- Yamazaki Mazak Corporation
- Yaskawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/gkcwlq
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
