According to Goldstein Research, “Growing automobile industry and rising need to automate the manufacturing process are the major factors bolstered the demand for automotive robots in Asia Pacific region." Worker's safety is also playing an important role in the growth of automotive robotics market. Installation of robots ensures labours safety by keeping away them from exposure
to welding and paint fumes.
The Asia Pacific automotive robotics market is segmented based on robots and by applications. Robot segment is further bifurcated into articulated robots, Cartesian robots, cylindrical robots and Selective Compliance Assembly Robot Arm (SCARA). The articulate robot segment accounted for the largest market share of more than 45% in 2016 owing to its cost effective solution for processes that requires flexibility in terms of motion, precision and payload capacity.
The Asia Pacific automotive robotics market is predicted to grow at a CAGR of 10.1% over the forecast period i.e. 2016-2024. The market is likely to exceed USD 6.0 billion by the end of 2024.
China is the largest country for automotive robotics market in 2016 and is expected to dominate the Asia Pacific automotive robots market during the forecast period of 2016-2024. China is closely followed by Japan and India in terms of market share. Apart from China, Japan and India; Singapore and Thailand are expected to drive the market growth significantly. Singapore is facing unique labour shortage owing to small and ageing population. To overcome these challenges many manufacturers are relying on automate rudimentary business process. Industrial robotics market expanded dramatically in automotive industry of Thailand owing to large consumer base. In 2016, Thailand manufactured more than 600,000 vehicles, significantly driving the growth of automotive robotics market.
Growing investments: Major Impel
Growing dominance of Asia Pacific region in manufacturing of robots, countries in Asia Pacific region also purchases around 35% of all robots worldwide. Many companies are investing in Asia pacific region to grab the growth opportunity. For instance, many robotics company are investing in China rather than in U.S. as China is providing big growth opportunities owing to huge consumer base in China. The largest robotics provider in China are now joint venture between Chinese and foreign countries. German based robot manufacturer is now under the process of being acquired by the China's Midea for USD 4.5 billion and such acquisitions are expected to happen over the next few years, providing growth opportunities for automotive robotics market to grow appreciably.
“Asia Pacific Automotive Robotics Market Outlook 2024” contains detailed overview of the Asia Pacific automotive robotics market in terms of market segmentation by robot type and by applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Asia Pacific Automotive Robotics Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as ABB Ltd., NOK Corp., Kawasaki Heavy Industries, KUKA Ag, Seiko Epson Corporation, Yaskawa Electric Corporation, FANUC Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the Asia Pacific automotive robotics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.