Automotive companies are investing heavily in these developing nations due to the availability of cheap labour, sustainable infrastructure, a rising middle class, a large base of the youth population, and favourable initiatives and policies. Furthermore, the automotive industry is growing rapidly in developing nations such as India, China, Brazil, and Mexico. As per the International Organization of Motor Vehicle Manufacturers (OICA) 2022 report, Asia-Oceania accounted for 69% of total sales of passenger vehicles worldwide. The global demand of passenger vehicles is high, it is expected to grow further in the coming future due to the increase in the per capita income of customers and the introduction of advanced features and new powertrain technologies.
Passenger vehicle segment is expected to grow at a significant CAGR during the forecast period. These driving factors are the growing need of automation, shortage of skilled labors, need for increased productivity, improved safety, precision, and quality as technology continues to advance and robots become even more capable and versatile, their use is likely to continue to grow in automotive manufacturing industry.ĪBB ( Switzerland), FANUC CORPORATION ( Japan), KUKA AG ( Germany), Universal Robots ( Denmark), and Yaskawa Electric Corporation ( Japan) are some of the key players offering robots for the automotive manufacturing equipment market.
This equipment is the highest demand in the industry due to various driving factors. In the automotive industry, robots are specialized machines designed and programmed to automate various tasks in the production and assembly of automobiles. The market for the robot segment is expected to grow at a significant CAGR during the forecast period. Increased sales of electric and hybrid vehicles Increasing demand for machine learning, and artificial intelligence-based systems in the automotive industry
Vulnerability of industrial manufacturing systems to Cyberattacks North America, Europe, Asia Pacific, and Rest of World Revenue Forecast, Competitive Landscape, Growth Factors, and Trendsīy Equipment Type, Mode of Operation, Vehicle Type and Region
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