The global automotive manufacturing equipment market has garnered USD 6,810.5 million in revenue in 2023, and it is projected to rise at the rate of 11.3% from 2023 to 2030, to capture USD 14,260.4 million by 2030. This growth of the market can be credited to the quickly rising vehicle demand and the growing acceptance of automation and robotics technologies to fulfill the growing automotive requirement.
Numerous establishments have accepted AI and progressive technologies, because of their numerous advantages, to advance quality, aid fulfill the need on time, fuel the supply chain, and operate functions easily.
In recent years, electric vehicle production businesses have attained substantial growth. This is because of the altering customer preferences, government guidelines and help, and the rising knowledge among individuals regarding the advantages of EVs and their positive effect on the atmosphere.
During the projection period, the automatic category is projected to advance at a higher CAGR, of approximately 11.5%. In the automobile sector, automatic technologies are accepted extensively due to their work productivity, high quality, and utmost efficiency.
Also, automatic manufacturing technologies can accomplish tasks without the participation of humans, because of which the price of manufacturing is decreased with supreme making output. Additionally, such technologies aid in making vehicles’ making facilities more effective and progressive.
The APAC automobile manufacturing equipment market is projected to advance at the uppermost CAGR, of approximately 12%, during the projection period. This is mainly because the region contains key nations, like India, China, Japan, and South Korea, manufacturing vehicle systems, and businesses are spending on mechanization and robot technologies to decrease labor prices and improve work efficiency, in the region.
