According to Goldstein Research, “Rising market competition and growing sale of automobiles tend the OEMs to shift towards automation of production facility for faster production at lower cost." The interest in robotics expected to remain strong not just in North America, but across the globe, as major industries recognize that robots can help them to improve productivity, product quality and flexibility.
The North America automotive robotics market is segmented based on robots and by application. Robot segment is further bifurcated into articulated robots, cartesian robots, cylindrical robots and selective compliance assembly robot arm (SCARA). Articulated robots in product segment of automotive robots estimated to have largest share as compared to Cartesian and SCARA robots due to its wide presence and multi functionality.
North America automotive robotics market was valued at USD 6.7 billion for 2016. It is expected to register a CAGR of 9.7% during the forecast period and reach a market sized of USD 5.1 billion by the end of the forecast period i.e. 2016-2024.
Canada makes up around 10% of total North America robotics market. In 2015, 3,222 robots worth USD 201 million were ordered by Canadian Companies. The automotive and automotive component industries combined accounted for 68% of the Canadian robotics market in 2016. Two heavily automotive processes- arc welding and spot welding comprises of 51% of the robotic application in Canadian automotive industry.
Growing investments in robotics, driving automotive robotics market
Investments in robotics continue to rise and reflecting huge growth in North America automotive robotics market. Record 14.332 robots valued USD 834 million were ordered from North American companies in first half of 2015, an increase of 1% in units compared with 2014. According to Robotics Industries Association, there are more than 250,000 robots in operation in United States. In 2017, 9,773 robots valued at USD 516 million were ordered by the North American manufacturers. Significant growth in orders of robot can be seen in automotive OEMs in North America by 32% and 53% by the Component suppliers. Moreover, declining prices of electronics and sensors significantly reduced tehcost of robots, and the sales of automotive robots are expected to grow significantly over the forecast period.
“North America Automotive Robotics Market Outlook 2024” contains detailed overview of the North America automotive robotics market in terms of market segmentation by robot type, by packaging type and by distribution channel.
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.
North America Automotive Robotics Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as ABB Limited, NOK Corp., Kawasaki Heavy Industries, KUKA Ag, Seiko Epson Corporation, Yaskawa Electric Corporation, FANUC Corporation, Yamaha Robotics, Epson Robotics, Acieta 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 North America 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.