The North America Automotive Manufacturing Equipment Market would witness market growth of 10.1% CAGR during the forecast period (2023-2030).
Growing demand for vehicles, particularly in emerging countries, significantly motivates automotive manufacturers to expand their production capacities. Continual technological advancements in the industry have also contributed to the development of more advanced and efficient manufacturing equipment, such as robotics and automation. In addition, government initiatives aimed at reducing carbon emissions and enhancing fuel efficiency have increased the emphasis on hybrid and electric vehicles, which require specialized manufacturing equipment.
These factors present companies with opportunities to innovate and achieve success. The market describes the industry that manufactures and distributes the apparatus, tools, and equipment used in the automobile manufacturing process. This market encompasses a vast array of equipment, including testing equipment, assembly line machinery, welding machines, robotic systems, painting systems, and manufacturing tools.
Canada hosts one of the world's only five MTDM manufacturing clusters. The industry is indispensable to Canada's economy. In 2020, it will contribute $12.5 billion to Canada's gross domestic product, making it one of the most important industrial sectors in the country. The robust presence of the automotive industry is anticipated to increase demand for the market in line with the growing demand for vehicles and the need to automate manufacturing processes, thereby driving market expansion in the region.
The US market dominated the North America Automotive Manufacturing Equipment Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,593.9 Million by 2030. The Canada market is poised to grow at a CAGR of 12.6% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 11.6% during (2023 - 2030).
Based on Mode of Operation, the market is segmented into Automatic, and Semi-Automatic. Based on Equipment Type, the market is segmented into Robot, CNC Machine, Conveyor Belt, Stamping Machine, Welding Machine, and Injection Molding Machine. Based on Vehicle Type, the market is segmented into Commercial Vehicles, and Passenger Vehicles. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Automotive Manufacturing Equipment Market is Projected to reach USD 13.3 Billion by 2030, at a CAGR of 10.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Ltd, FANUC Corporation, Kuka AG (Midea Group Co., Ltd.), Daifuku Co., Limited, Yaskawa Electric Corporation, Kawasaki Heavy Industries, Ltd., Amada Co., Ltd., Schuler Group GmbH (Andritz Group), Universal Robots A/S (Teradyne, Inc.) and TRUMPF SE + Co. KG.
By Mode of Operation
By Equipment Type
By Vehicle Type
By Country
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