What Is The Current and Historic Market Size Analysis Of The Automotive Manufacturing Equipment Market?
The automotive manufacturing equipment market has seen considerable growth due to a variety of factors.
• The market size for automotive manufacturing equipment has seen a swift expansion in the past few years. The growth is expected to surge from $7.53 billion in 2024 to $8.38 billion in 2025, marking a compound annual growth rate (CAGR) of 11.2%.
Factors such as economic development, consumer choices, regulation norms, supply chain globalization, and cost effectiveness have significantly contributed to this growth during the historic period.
What Is The Forecast For The Automotive Manufacturing Equipment Market Size?
The automotive manufacturing equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of automotive manufacturing equipment is anticipated to experience robust expansion in the upcoming years. It is projected to surge to $12.06 billion by 2029, with a compound annual growth rate (CAGR) of 9.5%.
This growth in the forecast period can be credited to factors such as the adoption of electric vehicles, the incorporation of industry 4.0, environmental sustainability, fortified supply chain resilience, and rising customization requirements. During the forecast period, the industry will be characterized by the embracing of industry 4.0 technologies, the emergence of collaborative robots (cobots), the integration of augmented reality (ar) and virtual reality (vr), the execution of 3D printing or additive manufacturing, a switch to flexible and modular production systems, as well as the rise of advanced material handling systems.
What Are The Essential Drivers Behind The Growth Of The Automotive Manufacturing Equipment Market?
The burgeoning requirement for electric vehicles is set to boost the expansion of the automotive manufacturing equipment market. In essence, an electric vehicle (EV), which is powered by electricity predominantly or exclusively, offers a greener alternative to conventional internal combustion engines that run on petrol or diesel. As we revolutionize transport, automotive manufacturing equipment stands as a crucial element, notably in the electric vehicle sector where accuracy, productivity, and innovation intersect to stimulate a sustainable transformation in the automotive industry. Case in point, the International Energy Agency, a France-based intergovernmental organization, reported in July 2023 that electric vehicle sales were at 10 million in 2022, forecasting a rise to 14 million in 2023. This upswing in electric vehicle demand sets the pace for the automotive manufacturing equipment market's growth.
Automotive Manufacturing Equipment Market Driver: Automotive Manufacturing Equipment Market Evolves with Industry 4.0
How Is The Global Automotive Manufacturing Equipment Market Divided Into Key Segments?
The automotive manufacturing equipment market covered in this report is segmented –
1) By Equipment Type: CNC Machine, Conveyor Belt, Injection Molding Machine, Robot, Stamping Machine, Welding Machine
2) By Mode of Operation: Automatic, Semi-Automatic
3) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
Subsegments:
1) By CNC Machine: Lathes, Milling Machines, Drilling Machines, Grinding Machines
2) By Conveyor Belt: Roller Conveyors, Belt Conveyors, Chain Conveyors, Overhead Conveyors
3) By Injection Molding Machine: Hydraulic Injection Molding Machines, Electric Injection Molding Machines, Hybrid Injection Molding Machines
4) By Robot: Articulated Robots, Cartesian Robots, SCARA Robots, Collaborative Robots
5) By Stamping Machine: Mechanical Stamping Machines, Hydraulic Stamping Machines, Pneumatic Stamping Machines
6) By Welding Machine: Arc Welding Machines, Resistance Welding Machines, Laser Welding Machines, Ultrasonic Welding Machines
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What Emerging Trends Are Influencing The Growth Of The Automotive Manufacturing Equipment Market?
Major players in the market are strategizing their growth by intensifying product innovation to boost their market earnings. The term serial-link robot describes a format of robot arm design where each link is rigorously joined in a chain-like manner. For example, the Japanese robotics firm FANUC launched M-1000iA, its largest serial-link robot, in January 2022. Designed to handle heavy items, such as automotive parts, construction materials, and the battery packs used in electric vehicles, the robot benefits from the extensive range of motion provided by its serial-link design, permitting it to elongate its arm upwards or twist it backwards. Endowed with a load capacity of 1000 kg, a horizontal outreach of 3,253mm, and a vertical reach amounting to 4,297mm, the M-1000iA is deemed perfect for manufacturers with objectives to augment yield and optimize the efficiency of their production lines.
Who Are the Key Players In The Automotive Manufacturing Equipment Market?
Major companies operating in the automotive manufacturing equipment market report are:
• Siemens AG
• Denso Corporation
• Mitsubishi Electric Corporation
• ABB Ltd.
• Emerson Electric Co.
• JTEKT Corporation
• Seiko Epson Corporation
• Rockwell Automation Inc.
• Bosch Rexroth AG
• FANUC Corporation
• Hexagon AB
• Trumpf GmbH
• Dürr Group
• Daifuku Co. Ltd.
• Yaskawa Electric Corporation
• KUKA AG
• DMG MORI Co. Ltd.
• Amada Co. Ltd.
• ATS Automation Tooling Systems Inc.
• Nachi-Fujikoshi Corporation
• Schuler AG
• Stäubli International AG
• Okuma Corporation
• Cognex Corporation
• AIDA Engineering Ltd.
• HD Hyundai Robotics
• Fronius International GmbH
• Kawasaki Heavy Industries Ltd.
• Universal Robots A/S
• Comau SpA
What Are The Regional Insights Into The Automotive Manufacturing Equipment Market?
North America was the largest region in the automotive manufacturing equipment market in 2024. The regions covered in the automotive manufacturing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
