The market size of global market is estimated to grow from USD 6.7 billion in 2023 to USD 11.4 billion by 2028, at a CAGR of 11.1% from 2023 to 2028. The growth of the automotive manufacturing equipment market is being driven by a variety of factors. One significant factor is the increasing demand for automobiles, particularly in emerging markets, which is prompting automotive manufacturers to expand their production capabilities. Another factor is the continuous technological advancements in the industry, which have led to the development of more advanced and efficient manufacturing equipment such as robotics and automation. Furthermore, government initiatives aimed at reducing carbon emissions and improving fuel efficiency have increased the focus on electric and hybrid vehicles, which require specialized manufacturing equipment. These factors providing opportunities for companies to innovate and achieve success.
"Robot segment to hold largest share of the market during the forecast period”
The growth of the robots segment in automotive manufacturing can be attributed to a number of factors For instance, the use of robots can significantly increase productivity by working continuously without the need for breaks, reducing downtime and improving efficiency. Additionally, robots are capable of completing tasks with precision and consistency, which lead to higher quality output and increased customer satisfaction. Safety is another critical factor in the adoption of robots in automotive manufacturing. Robots can perform hazardous or repetitive tasks, reducing the risk of workplace injuries and improving the safety of workers. Furthermore, the ability to automate certain processes lead to cost savings and improved efficiency and allowing companies to produce higher volumes of quality products at a lower cost which ultimately translate into increased profitability and market share.
“Automatic segment is expected to grow at a significant CAGR during the forecast period”
The growth of the automatic segment in the automotive manufacturing industry is attributed to several key factors such as technological advancements in automation systems have significantly improved their reliability and efficiency compared to semi-automatic and manual systems. Furthermore, automatic systems require less human intervention, which result in a faster and more streamlined production process, which ultimately translate into cost savings and increased profitability for manufacturers. Hence, the automatic segment of automotive manufacturing equipment market is growing with significant rate.
“The market in Asia Pacific is expected to grow at an impressive CAGR during the forecast period”
Asia Pacific is one of the major regions and home to several rapidly developing economies with strong economic growth, such as China and India. Many countries in the region are investing heavily in infrastructure, including transportation networks and manufacturing facilities. This has led to an increase in demand for automotive manufacturing equipment, particularly for modernized factories and production lines. Furthermore, the region is experiencing a growing demand for electric and hybrid vehicles, leading to an increase in investment in specialized manufacturing equipment and processes for the production of batteries and other components. This has resulted in an increased demand for automobiles and related equipment and driving the growth of the automotive manufacturing equipment market in the region.
Breakdown of the profiles of primary participants:
- By Company Type: Tier 1 - 35%, Tier 2 - 30%, and Tier 3 - 35%
- By Designation: C-level Executives - 45%, Managers - 35%, and Others - 20%
- By Region: North America - 35%, Europe - 30%, Asia Pacific – 25%, and RoW - 10%
Major players profiled in this report are as follows: ABB (Switzerland), FANUC CORPORATION (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), and Kawasaki Heavy Industries, Ltd (US), AMADA CO., LTD. (Japan), AIDA ENGINEERING, LTD. (Japan), D?rr Group (Germany), Schuler Group (Germany), TRUMPF (Germany), Universal Robots (Denmark), Daifuku Co., Ltd. (Japan), Yamazaki Mazak Corporation (Japan) and others.
In this report, the automotive manufacturing equipment market has been segmented based on equipment type, mode of operation, vehicle type, and region. The automotive manufacturing equipment market based on equipment type has been segmented into CNC machine, conveyor belt, injection molding machine, robot, stamping machine and welding machine. Based on mode of operation, the market has been segmented into automatic and semi-automatic. Based on vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. The study also forecasts the size of the market in four main regions?North America, Europe, Asia Pacific, and RoW.
Key Benefits of Buying the Report:
The report provides insights on the following pointers:
- Analysis of key drivers (increased sales of electric and hybrid vehicles, skilled labor shortage in manufacturing industries around the world, and growing adoption of industry 4.0 in automotive industry), restraints (high initial cost and installation for SMEs and limited flexibility and high maintenance cost of automotive manufacturing equipment), opportunities (increasing demand for machine learning and artificial intelligence-based systems in automotive industry and rapid automotive manufacturing growth in emerging economies) and challenges (vulnerability of industrial manufacturing systems to cyberattacks and interoperability and integration issues) influencing the growth of the automotive manufacturing equipment market.
- Product Development/Innovation: Detailed insights on new product launches, technologies, research & development activities, and industry partnerships in the automotive manufacturing equipment market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the automotive manufacturing equipment market across regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Market Diversification: Exhaustive information about new products & technologies, untapped geographies, and recent developments in the automotive manufacturing equipment market.
- Competitive Assessment: In-depth assessment of market ranking/market share, growth strategies, and product offerings of leading players like ABB (Switzerland), FANUC CORPORATION (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), and Kawasaki Heavy Industries, Ltd (Japan), among others in the automotive manufacturing equipment market.
- Strategies: The report also helps stakeholders understand the pulse of the automotive manufacturing equipment market and provides them information on key market drivers, restraints, challenges, and opportunities.