Assembly Automation Market Size, Share, Growth, and Industry Growth, By Type (Robot Automation Equipment and Other Automation Equipment), By Application (Automobile, 3C Industry, and Others), Regional Forecast From 2023 To 2030

Updated On: 13 November 2023

ASSEMBLY AUTOMATION MARKET REPORT OVERVIEW 

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The global assembly automation market size is USD 49.831 billion in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with assembly automation experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 101.65 billion by 2027, exhibiting a CAGR of 12.62% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Assembly automation uses a variety of automated tools and devices to make items and consumer goods at an impressive rate. On an assembly line, these systems are made up of numerous machines and pieces of equipment. The end users gain a number of advantages from using these items, including the need for fewer human employees and labor, high profitability due to an improved pace of production, consistent output, decreased downtime, and decreased human mistakes. 

Carousel assembly systems, dial-type assembly machines, single-station assembly machines, and in-line assembly machines are just a few of the major goods that competitors and industry participants in the worldwide assembly automation systems market are offering. Additionally, the different types of assembly systems include in-line machines with single station assemblies, carousel assembly systems, and dial-type assembly machines. The main factors influencing the usage of automated production lines include multiple operations, long product life, durable product design, and high product demand.

COVID-19 Impact: Disruption of Manufacturing Industries Hampered Growth

Government-imposed travel restrictions, factory closures, and plant closures heavily disrupted manufacturing facilities. Personnel shortages, supply chain interruptions, and raw material shortages impacted production numbers. During the global COVID-19 epidemic, automation technology is vital in protecting people, processes, and systems. The large industrial company that provides automation technology solutions is investing to combat the decline in material prices and meet consumer demands during the lockdown. To reduce team travel, Emerson, for instance, has created virtual capabilities such as MyEmerson digital tools, Virtual Factory Acceptance Tests (vFATs), and cloud engineering in the automation sector. These virtual solutions offer remote collaboration and virtual meetings for the organization's contacts.

LATEST TRENDS

"Expanding Demand for Higher Production Rates to Aid Market Growth"

Companies are currently being compelled to automate their assembly operations to increase productivity due to the very competitive workplace environment, which includes the 3C industry, among others. Additionally, new technological advancements and technical solutions may help businesses gain a competitive advantage in the market and establish their own standards for product quality and pricing. By the product's functionality, price, and dependability, the work of the designers or the manufacturing firm may contribute to its success. Therefore, the need for flexible and agile production capabilities may give manufacturing organizations a competitive edge by reducing lead times and elaborate manufacturing processes.

ASSEMBLY AUTOMATION MARKET SEGMENTATION 

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• By Type Analysis

By type, the market is segmented into robot automation equipment and other automation equipment.

• By Application Analysis

Based on application, the market is classified into the automobile, 3C industry, and others.

DRIVING FACTORS

"Expanding Adoption of 5g Technology to Aid the Equipment Demand"

The assembly automation market growth is expected to be driven by the development of 5G wireless technology and industry adoption in some industries, including fiber & textiles, pharmaceuticals, plastics, infrastructure, and others. The three main trends in the factory automation market are expected to be industrial IoT, digitalization, and the rise of digital twins. As it enables the creation of effective, economic, and responsive system architectures, the Internet of Things (IoT) is crucial for automation technologies. Solutions for the industrial internet of things (IIoT) connect industrial assets, produce transparency quickly and easily, and increase productivity. IIoT and edge computing solutions simplify the entire lifecycle of device management and shop floor software.

"Demand for The Equipment in Various Industries to Prosper Growth in the Market"

Industrial IoT solutions, such as automated manufacturing equipment and factory robotics, analyze machine data using advanced analytics, artificial intelligence (AI), cloud computing, edge computing, and machine learning. This knowledge is then used to increase asset availability and productivity Due to a rise in the need for automation in high-quality, dependable manufacturing. The factory automation market is primarily driven by the industry's participants' focus on improving manufacturing process efficiency in order to produce goods at cheap costs and high quality. Therefore, the market expansion is anticipated to be fueled by the Industrial IoT's ongoing growth across industries during the forecast period. These factors are forecasted to aid the assembly automation market growth.

RESTRAINING FACTORS

"Lack of Skilled Professionals and High Initial Investment to Hamper Market Expansion"

The assembly automation market growth is expected to be hindered by the lack of professionals and lack of security awareness, as well as the high costs associated with installing factory automation systems. The cost-effectiveness of industrial automation processes is offset by the substantial initial capital expenditures needed for employee training and technology implementation. Due to the fragmented nature of the market, the return on investment (ROI) cannot be predicted.

ASSEMBLY AUTOMATION MARKET REGIONAL INSIGHTS 

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"North America to Dominate the Market Due to the Growing Awareness about the Equipment"

North America is expected to lead the assembly automation market share due to the enhanced production of companies owing to the rising awareness among manufacturers. 

Europe is forecasted to show significant growth in the global market attributable to the region being the automotive hub. The growing awareness among end-users implies advanced technologies for the production of high-quality products is estimated to augment growth in the market. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• ThyssenKrupp (Germany)
• Velomat (Italy)
• Hirata (Japan)
• Bastian Solutions (U.S.)
• ATS Automation (Canada)
• ABB (Switzerland)
• Kuka (Germany)
• FANUC (Japan)
• Yaskawa (Japan)
• Hanwha (South Korea)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using various primary and secondary sources.