PUBLISHER: The Business Research Company | PRODUCT CODE: 1455171
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455171
Automotive manufacturing equipment encompasses specialized machinery, tools, and systems dedicated to the production and assembly of various motorized vehicles, including cars, trucks, motorcycles, and similar modes of transportation. Its purpose is to execute diverse tasks within the automotive manufacturing process, ranging from cutting, shaping, welding, and assembling to painting and inspecting vehicle components and parts.
The primary types of automotive manufacturing equipment include CNC machines, conveyor belts, injection molding machines, robots, stamping machines, and welding machines. A conveyor belt is a continuously moving surface or mechanism employed to transport goods, materials, or products within a manufacturing facility from one location to another. The equipment operates through various modes, including automatic and semi-automatic, catering to different vehicle types such as passenger vehicles and commercial vehicles.
The automotive manufacturing equipment market research report is one of a series of new reports from The Business Research Company that provides automotive manufacturing equipment market statistics, including automotive manufacturing equipment industry global market size, regional shares, competitors with an automotive manufacturing equipment market share, detailed automotive manufacturing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the automotive manufacturing equipment industry. This automotive manufacturing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive manufacturing equipment market size has grown rapidly in recent years. It will grow from $6.74 billion in 2023 to $7.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The expansion observed during the historical period can be attributed to factors such as economic growth, consumer preferences, adherence to regulatory standards, the globalization of supply chains, and the pursuit of cost efficiency.
The automotive manufacturing equipment market size is expected to see rapid growth in the next few years. It will grow to $11.03 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The projected growth in the forecast period can be associated with the adoption of electric vehicles, the integration of Industry 4.0 technologies, a focus on environmental sustainability, the resilience of supply chains, and increased demands for customization. Key trends anticipated in the forecast period include the widespread adoption of Industry 4.0 technologies, the introduction of collaborative robots (cobots), the integration of augmented reality (AR) and virtual reality (VR), the implementation of 3D printing/additive manufacturing, a transition towards flexible and modular production systems, and the development of advanced material handling systems.
The anticipated surge in demand for electric vehicles is poised to drive the growth of the automotive manufacturing equipment market. Electric vehicles (EVs), powered primarily or exclusively by electricity, are reshaping the automotive landscape, necessitating precision, efficiency, and innovation in manufacturing processes. Automotive manufacturing equipment plays a crucial role in shaping the future of transportation, especially within the context of electric vehicles. In September 2022, the International Energy Agency reported a significant increase in electric car sales, reaching a record high in 2021 with a four percent climb. Sales nearly doubled to 6.6 million compared to 2020, resulting in a total of 16.5 million electric vehicles on the road. Hence, the surging demand for electric vehicles is a key driver propelling the growth of the automotive manufacturing equipment market.
The escalating adoption of Industry 4.0 is expected to contribute to the growth of the automotive manufacturing equipment market. Industry 4.0, characterized by the integration of smart technologies, automation, and data exchange in manufacturing processes, enhances automotive manufacturing equipment. This integration facilitates real-time data monitoring, predictive maintenance, and interconnected systems, ultimately improving efficiency and optimizing production. According to the Central Indiana Corporate Partnership in December 2022, the implementation rate of Industry 4.0 technologies, including autonomous mobile robots, increased to 16%, up from 11% in 2021. Thus, the growing adoption of Industry 4.0 acts as a driving force for the automotive manufacturing equipment market.
The fluctuation in raw material prices is expected to impede the growth of the automotive manufacturing equipment market. These fluctuations can disrupt supply chains, impacting production costs in the automotive manufacturing equipment sector and leading to uncertain profit margins. For example, SNECI reported in May 2022 that the cost of producing an electric vehicle increased by $4752 compared to 2020 due to the fluctuating costs of raw materials. Consequently, fluctuating raw material prices pose a challenge to the growth of the automotive manufacturing equipment market.
Leading companies in the market are prioritizing product innovation to boost revenues. An example of such innovation is the introduction of the M-1000iA, the largest serial-link robot, by FANUC, a Japan-based robotics company, in January 2022. This heavy-duty robot is designed with a serial-link configuration, featuring a series of rigid links connected end-to-end in a chain-such as structure. Capable of handling heavy items such as automotive components, construction materials, and electric vehicle battery packs, the M-1000iA offers a broader range of motion in every direction. Its versatility is enhanced, allowing it to extend its arm upright or rotate it backward. With a 1000 kg payload, 3,253mm horizontal reach, and 4,297mm vertical reach, the M-1000iA is an ideal choice for manufacturers aiming to boost output and maximize production line efficiency.
In August 2021, Nidec Corporation, a Japan-based commercial company, acquired Mitsubishi Heavy Industries Machine Tool Co. Ltd. for an undisclosed amount. This acquisition aligns with Nidec Corporation's goal of complementing their existing businesses, especially in machinery, element technology development, manufacturing, sales, and other areas within their group's operations. Mitsubishi Heavy Industries Machine Tool Co. Ltd., a Japanese machine industry company, specializes in providing machinery, equipment, and tool systems for automotive manufacturing.
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, Durr 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, Staubli 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
North America was the largest region in the automotive manufacturing equipment market in 2023. The regions covered in the automotive manufacturing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive manufacturing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive manufacturing equipment market consists of sales of spare parts, replacement components, and specialized equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Manufacturing Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive manufacturing equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive manufacturing equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive manufacturing equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.