DUBLIN, Jan 23, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Automotive Robotics Market by Type (Articulated, Cartesian, SCARA, Cylindrical), Component (Controller, Robotic Arm, End Effector, Sensors, Drive), Application (Welding, Painting, Cutting, Material Handling), and Region - Global Forecast to 2021" report to their offering.

The global automotive robotics market is estimated to be USD 5.07 billion in 2016, and is projected to reach USD 8.44 billion by 2021. The market, in terms of value, is projected to grow at a CAGR of 10.74% from 2016 to 2021.

The global market has been segmented according to product type such as articulated, Cartesian, SCARA, Cylindrical, and Others. The components identified in the report include Controller, Robotic Arm, End Effector, Drive, and Sensors. Additionally, the report covers the market on application basis such as Welding, Painting, Cutting, Material Handling, Palletizing & Packaging, and Assembly/Disassembly. The articulated robotics segment is estimated to account for the largest market share, in terms of value, in 2016.

The global market has been segmented by component into Controller, Robotic Arm, End Effector, Drive, and Sensors. The controller segment is expected to hold the largest market share, by value, in 2016. A key factor driving the robotic controllers segment is its ability to offer high motion control and faster integration with any additional hardware.

Primarily driven by rising labor cost and continuous increase in vehicle production in the region, Asia-Pacific is estimated to be the largest market for automotive robotics. The Asia-Pacific automotive robotics market, in terms of value, is projected to register the highest CAGR from 2016 to 2021.

The global automotive industry is highly penetrated in terms of usage of robotics. Electrical/electronics and metal and machinery industry posted higher growth rates than automotive industry in terms of volume during 2015. As of 2015, around 40% of total installed base of industrial robots are in the automotive industry. Such high concentration of robotics in automotive industry would limit growth potential for robot manufacturers serving primarily to automotive industry.

ABB is one the leading players in global automotive robotics market. The company offers a range of robotic solutions catering to various auto OEMs across the globe. ABB has installed 300,000 robots across 53 destinations of the world. ABB operates in around 100 countries in total. The company has gained the expertise in developing digital technologies that includes digitally connected industrial equipment and systems, with an installation base of more than 70,000 control systems across the world.

Market Dynamics

Drivers

• Rising Vehicle Production
• Enhancing Cost Competitiveness Through Automation in Developed Countries
• Wage Inflation

Restraints

• High Penetration of Robotics in Automotive Industry
• Perception: Automation Pushes Unemployment

Opportunities

• Productivity Optimization
• Industrie 4.0 And Made in China 2025 Industrial Plans
• Low Robot Density in Chinese Automotive Industry

Challenges

• Significant Initial Investment
• Sluggish Growth in the Us Automotive Industry

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Global Automotive Robotics Market, By Type

7 Automotive Robotics Market, By Component

8 Global Automotive Robotics Market, By Application

9 Global Automotive Robotics Market, By Region

10 Competitive Landscape

11 Company Profiles

• ABB Ltd.
• Comau Spa
• Denso Wave Incorporated
• Fanuc Corporation
• Kawasaki Heavy Industries
• Kuka Ag
• Nachi-Fujikoshi Corp.
• Rockwell Automation, Inc.
• Seiko Epson Corporation
• Yaskawa Electric Corporation

For more information about this report visit http://www.researchandmarkets.com/research/6sj3sx/automotive

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SOURCE Research and Markets