The Europe Automotive Robotics Market would witness market growth of 11.6% CAGR during the forecast period (2020-2026). The automotive robotics market is currently in its developmental stage. The automotive robotics market is boosted by the growing need to increase productivity and improve work environment by decreasing industrial accidents and enhancing employee safety. The market is anticipated to witness lucrative growth opportunities over the coming years. This is credited to the increasing R&D in technology and an encouragement to sustainable production process combined with the need to decrease operation costs. Moreover, automated production facilities and emerging markets are receiving massive investments, thereby increasing the revenue streams of the market.
Currently, the automotive industry is witnessing gradual growth. However, the market is anticipated to display healthy growth rate due to the rising demand for vehicles. This is owing to the expansion in disposable income of customers and innovations (such as cars, two wheelers, trucks, buses, and off-road vehicles, and others) which requires huge amount of flexibility from the manufacturers. This massive growth of the automotive industry is encouraging the use of robots for fulfilling the rising consumer requirement of this market. Automotive robots are designed to provide support to the production of automobiles.
Increase in the labour charges has resulted in the adoption of robots in the automotive industry as a cost-effective option, hence pushing the growth of automotive industry. Seemingly, rise in the investment of automated manufacturing units is expected to push the growth rate over the forecast years. Moreover, automotive robotics market is bolstered by the need to prevent the wastage due to human errors. Need for reducing collisions in the automotive industry combined with huge growth for improving the workplace security will foster the market size over the forecast years.
Based on Type, the market is segmented into Articulated, Cartesian, Cylindrical, SCARA, and Others. Based on Component, the market is segmented into Robotic Arm, End Effector, Sensors, Controller, Drive and Others. Based on Application, the market is segmented into Material Handling, Welding, Painting & Cutting and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Automotive Robotics Market in Europe is expected to register a CAGR of 11.6% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Kuka AG, FANUC Corporation, Yaskawa Electric Corporation, Denso Corporation (Denso Wave, Incorporated), Rockwell Automation, Inc., Seiko Epson Corporation, Kawasaki Heavy Industries, Ltd., Fiat Chrysler Automobiles N.V. (Comau S.P.A) and Nachi-Fujikoshi Corporation.
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