Automotive Paint Robots Market : Soaring Demand Assures Motivated Revenue Share
Posted by Arslan on January 18th, 2019
The automated paint robots market traced an impressive growth graph, with the in revenues in 2018 estimated at over US$ 680 Mn, according to a new Fact.MR study. A variety of factors continue to influence prospects of the automated paint robots market, which range from integration of real-time diagnostics and precise paint control to intelligent modernization paint workshops for amplifying the production efficiency.
The study forecasts the automotive paint robot market to majorly remain consolidated among Tier 1 players, who will hold over 80% value share of the market in 2018. While these players continue with the new product development, collaboration, and merger & acquisition strategies to retain their market buoyancy, Tier 2 and Tier 3 players are focusing on expansion in domestic markets, and advanced machinery purchase to gain significance in the market.
Volume Sales of 7 Axis Automated Paint Robots to Exceed 360 Units in 2018
6 axis automated paint robots have traditionally governed the market in terms of both value and volume. However, palpability of the 7 axis automated paint robots has increased at a rapid pace recently, with volume sales to exceed 360 units in 2018, estimates Fact.MR study.
Enhanced operational efficiency, devoid of linear displacement rail, along with time savings in replacing integrated pneumatic control system and high-voltage components, linked with 7 axis automated paint robots continue to concentrate end-customer focus toward these new generation automated paint robots.
“Key automakers worldwide are inclining their preference toward use of 7 axis automated paint robots together with 6 axis variants, which have been deemed to enable the combined system to offer additional benefit of opening and closing lids of paint cans,” says a lead analyst at Fact.MR. “Electrically driven automotive paint robots have gained significant momentum, as they increase the painting speed by approximately 50%. Improved absolute accuracy, and dynamic accuracy in path tracking, are key attributes of electrically driven variants that will drive their demand,” added the analyst.
For more information on this report, please visit: https://www.factmr.com/report/2232/automotive-paint-robots-market
Automotive Paint Robots Sales Influenced by Research Efforts of Universities to Automate the Painting Trade
Several universities and research institutions, including the Nanyang Technological University, and Hubert Palfinger Technologies GmbH, are taking efforts in automating the painting trade. While the former is working to develop mobile paint spraying system that feature extended reach of the arm up to 10 meters, the latter is developing an automotive paint robot that can coat ships with near 1400 square meter area output.
The automotive paint robots market is envisaged to witness significant growth in Latin American countries, China and Middle East & Africa (MEA). The report states that impressive growth of vehicle parc in these countries (at over 6% CAGR), and robust increase in vehicle production in response to demand, are primary growth influencers of the automotive paint robots market in these regions.
Automotive paint robots have gained significant traction as an indispensable asset for achieving the sustainable production efficiency. Reduction in manual dexterity and high-speed efficiency of automotive paint robots, which facilitate increased overall equipment efficiency (OEE) at lower operational costs, will continue to underpin future demand for the automotive paint robots.
Significant investment associated with automation of existing as well as new painting line continue to limit penetration of the Tier 2 and Tier 3 players in the automotive paint robots market. Challenges also prevail for new market entrants and emerging participants, apropos of the additional maintenance cost of the automotive paint robots, upgradation of software, and integration of advanced technologies.
Fact.MR study offers forecast on the automotive paint robots market for the period between 2018 and 2028. The study envisages promising growth prospects, and projects an impressive 9.2% volume CAGR for the automotive paint robots market through 2028.
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Joined: December 18th, 2017
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