April 24, 2020
According to the research report titled ‘Global Assembly Automation Market Size study, by Product Type (Robot Automation Equipment, Other Automation Equipment, Central Control System), by Applications ( Automobile, 3C Industry, Others and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global assembly automation market was worth USD 14.2 billion in 2018 and is presumed to expand with a CAGR of 6.5% during 2019-2026.
Automated assembly involves use of automated machines or assembly robots during the manufacturing process. Assembly automation offers systematic approach for manufacturing goods through part-human and part-automated control. It is widely used in factories, medical research and clinical companies.
Growing focus towards optimizing production rate has compelled manufacturers to automate their assembly operations. The technology allows multiple tasking with reliability in order to meet the respective manufacturing standards. Advancements in technology pertaining to assembly automation is further fueling the market expansion. In 2017 for instance, ABB and Kawasaki collaborated to share knowledge of robot automation while promoting the use of collaborative robots. Similarly, SCHUNK Electronics introduced two new de paneling machines SAR-1300 and SAR-1700 in 2017, which offer easy separation of large panels or PCBs. However, high capital investments associated with deployment of automated assembly machinery and lack of operational expertise may hinder the market growth.
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Considering the geographical landscape, North America holds a majority of share in global assembly automation market, primarily due to inclination towards improving production processes among major manufacturing companies. Meanwhile, Asia-Pacific assembly automation industry is anticipated to record a momentous growth rate through 2026. Increasing awareness pertaining to availability of advanced technology and machineries coupled with growing automotive industry are positively swaying the business dynamics in Asia-Pacific.
Major companies in worldwide assembly automation market are FANUC Corp., ThyssenKrupp, HIRATA Corp., Hanwha Group, NuTec Tooling Systems Inc., KUKA Robotics, RNA Automation Ltd., Rockwell Automation Inc., Koops Inc., Yaskawa Electric Corp. and ABB Ltd.