The automotive manufacturing equipment sector is experiencing strong growth due to global automotive demand, integration of automation and robotics, growing interest in electric and hybrid vehicles, and increasing focus on sustainability and energy conservation, making it an important industry for automotive businesses. This represents an attractive investment opportunity. .
NEWARK, Del., Feb. 16, 2024 (Globe Newswire) — The global automotive manufacturing equipment market is 11.1% During the forecast period.likely to reach a rating of 6.8 billion USD 2024 and 19.4 billion USD By 2034.
The conveyor belt segment is expected to grow at a healthy CAGR. 11.0% During the evaluation period. This is due to the increasing use of conveyor systems in the automotive industry.
The growth of the automotive manufacturing equipment market is expected to be driven by several factors during the forecast period. These include:
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Strong global expansion of the automotive sector
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Automakers are increasingly focused on improving productivity and reducing labor costs
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The growing popularity of electric and hybrid vehicles
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Increasing adoption of Industry 4.0 technologies in the automotive sector
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Rapid population growth and urbanization have led to an increase in car ownership. As a result, the automobile industry has significantly increased its production capacity, increasing demand for automobile manufacturing equipment.
Several major automakers are adopting Industry 4.0 principles and smart manufacturing practices, including automation and robotics. This will continue to act as a catalyst and trigger sales of vehicle manufacturing equipment during the evaluation period.
Increasing demand for electric vehicles is another key factor expected to drive the growth of the automotive manufacturing equipment market through 2034. These vehicles require specialized equipment for battery production, charging infrastructure, and sensor systems.
Key points from the report
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The global market for automotive manufacturing equipment is projected to expand at a CAGR of 11.1% until 2034.
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By equipment type, the conveyor belt segment is expected to grow at a CAGR of 11.0% from 2024 to 2043.
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By vehicle type, the passenger car segment is expected to exhibit a CAGR of 10.5% until 2034.
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The US market is estimated to reach USD 3.5 billion in 2034.
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Sales in China are expected to reach USD 3.2 billion by 2034.
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South Korea is expected to exhibit a CAGR of 13.3% by 2034.
“The global automotive manufacturing equipment industry is expected to register strong growth until 2034 due to the expansion of the automotive sector, increasing demand for electric vehicles and high adoption of automation.” – Nikhil Kaitwade (Vice President, Future Market Insights, Inc.)
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competitive environment
Top Key Companies Profiled
These account for a large share of the global automotive manufacturing equipment industry.
Leading companies are constantly developing advanced manufacturing equipment and displaying it at trade shows and exhibitions. We also employ tactics such as partnerships, facility expansions, collaborations, distribution agreements, acquisitions, and mergers to increase revenue and strengthen our market position.
Recent developments:
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In 2022, fanuc announced its latest automation solutions at IMTS, including new cobots, robotics, and factory automation technology.
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In June 2023, in order to meet the increasing demand for automobiles and related parts, Nidec Machine Tools Co., Ltd. The company announced that it will establish a new factory in India.
Report scope
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attribute |
detail |
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Estimated market value (2024) |
6.8 billion USD |
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Predicted market value (2034) |
19.4 billion USD |
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Expected growth rate (2024-2034) |
CAGR of 11.1% |
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Forecast period |
From 2024 to 2034 |
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Historical data available |
From 2019 to 2023 |
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market analysis |
Value (USD Billion), Volume (Units), and CAGR from 2024 to 2034 |
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Main countries covered |
Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Northern Europe, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC countries, South Africa, Central Africa, and others |
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Automotive manufacturing equipment market by category
By equipment type:
By vehicle type:
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passenger car
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commercial vehicle
By region:
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North America
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latin america
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western europe
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eastern europe
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east asia
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South Asia and Pacific
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middle east and africa
author
Nikhil Kaitwade (Vice President, Future Market Insights, Inc.) has over 10 years of experience in market research and business consulting. He has successfully completed work for more than 1,500 of his clients, primarily in the automotive, chemical, industrial equipment, oil and gas, and service industries.
His core competencies center around developing research methodologies, proprietary analytical frameworks, creating statistical data models for pricing analysis, competitive mapping, and market feasibility analysis. His expertise also extends widely beyond analysis, advising clients on identifying growth potential, investment/sale decisions, and market entry decisions in established and niche market segments. Masu.
Nikhil holds an MBA degree in Marketing and IT and a postgraduate degree in Mechanical Engineering. Nikhil has authored several publications and has been cited in journals such as EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Winner, Greater New York Chamber of Commerce Member) provides deep insight into the drivers driving market demand. FMI has established itself as one of the world's leading providers of market intelligence, advisory services, consulting, and events for the packaging, food and beverage, consumer, technology, healthcare, industrial, and chemical markets. With a large team of over 5,000 analysts located around the world, FMI provides global, regional and local expertise on diverse sectors and industry trends in over 110 countries.
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