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Assembly Automation Market Report
Global Assembly Automation Market, Dynamics, Trends, and Market Analysis
The Global Assembly Automation Market is estimated to grow from USD 16.2 billion in 2020 to USD 23.5 billion by 2026 at a healthy CAGR of 6.5% during the forecast period.
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Assembly automation is an application that uses automated and mechanized devices for producing goods and performing several functions in an assembly line. Its fundamental functionality is an organized approach of assembling goods that are partly controlled by humans and partly automated.
Key players operating in the global assembly automation market are-
The surge in demand for plant automation to obtain superior equipment efficiency, enhanced process accuracy, and output are some of the key factors augmenting the market growth. Moreover, the ongoing digitalization trend and rapid growth in the electronics and semiconductor manufacturing industries are expected to offer immense opportunities to the industry players. However, the increased complexity of industrial automation systems and high initial costs are likely to hinder the product demand in the coming years.
Based on end use, the assembly automation market is classified into automotive, 3c industry, and others.
By region, the Europe market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR in the following years.
This is mainly ascribed to the strong automotive manufacturing in Germany and France. Also, stringent policies for industrial safety and robust growth in the 3C industry in the region, further proliferates the regional market growth.
The COVID-19 outbreak has significantly affected the assembly automation industry. The industry is witnessing challenges in its manufacturing & supply chain, such as delivering products to end-users promptly as well as catering to an irregular demand for products, thus affecting the product demand. Also, the automotive and 3C sectors experienced a temporary shutdown, which further affected the product demand amid the pandemic.
The following is a list of the customers that the Assembly Automation market aims to convert the most:
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The assembly automation market is expected to witness an impressive growth of 6.5% CAGR in the foreseeable future.
FANUC (Japan), ABB (Switzerland), Yaskawa (Japan), Kuka (Germany), Hanwha (South Korea), Hirata (Japan), ThyssenKrupp (Germany), ATS Automation (Canada), Velomat (Italy) and Bastian Solutions (The U.S) are among the key players in the assembly automation market.
The assembly automation market size is expected to reach USD 23.5 billion in the coming years.
Europe accounted for the largest share in the assembly automation market in 2020.
The surge in demand for plant automation to obtain superior equipment efficiency, enhanced process accuracy, and output; ongoing digitalization trend and rapid growth in the electronics and semiconductor manufacturing industries are the factors driving the growth of assembly automation market.
Assembly automation vendors, Assembly automation retailers, Automotive companies, 3C companies are the target audience in the assembly automation market.
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