Mobile Robot Charging Station Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

Published: Dec 2022

Pages: 159

SKU: IRTNTR46672

Snapshot

Mobile Robot Charging Station Market Forecast 2023-2027

The mobile robot charging station market is estimated to grow by USD 358.94 million at a CAGR of 28.08% between 2022 and 2027. The growth of the market depends on several factors, including reduced cost price of electronic components, increasing adoption of factory automation and industry 4.0, and reduced cost price of electronic components and solar-energy fuelled. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Mobile Robot Charging Station Market During the Forecast Period?

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Market Segmentation

By Application

The market share growth of the industrial segment will be significant during the forecast period. Industries such as manufacturing, oil and gas, aerospace and defense, healthcare, and mining and minerals are deploying AMRs on a large scale for applications that cannot be completed manually. AMRs are used for assignments that include land inspection, fuel and gas leakage inspection, underwater operations, and rescue operations. This large-scale industrial application will facilitate market growth during the forecast period.

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The industrial segment was valued at USD 41.69 million in 2017 and continued to grow until 2021. Unmanned ground vehicles (UGV) are used in manufacturing industries where the transfer of tools and products is accomplished using AMRs. These are self-sufficient and decide their path of navigation and ultimately reach the target. The operations on the shop floor are tedious and continuous, which requires the continuous engagement of these, which leads to power loss. Therefore, the shop floors are equipped with charging or docking stations.

Market Dynamic

The reduced cost price of electronic components is notably driving the growth, although factors such as the replacement cost of these may impede the growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Driver

The reduced cost price of electronic components is notably driving the growth. The usage of AMRs has been seen in numerous industrial and commercial applications as microelectronics, nanotechnology, and wireless communication technologies have advanced. These operate on and around the shop floors and have access to a self-contained charging station. The cost of electronic components, like infrared sensors and cameras, has significantly decreased, which has accelerated the expansion of the global market.

The extensive development is a result of the high adoption of AMRs in the industry. Because of the fierce rivalry among suppliers, component prices will decrease during the forecast period as the rate of installation grows. Thus the reduced price of the electric components will positively impact the growth of the global market in focus during the forecast period.

Market Trends

Contactless charging is the primary trend in the market. In commercial and industrial applications, AMRs are employed for continuous operations. For smooth operations on the shop floor, the docking or charging station must provide support. Some AMRs operate continually in industries, necessitating a steady source of power. These are designed to operate on a predetermined metallic track that has capacitive power transferring (CPT) equipment. Inductive power transfer (IPT) was once employed to ensure a steady supply of power, but it has since been shown that electromagnetic interference causes the power supply to fail. To solve this issue, CPT has been introduced. CPT lessens electromagnetic interference during power supply and ensures that it receives constant power. This is sometimes referred to as contactless AMR charging.

These do not need any wired connection or contact with the docking station. This facility provides a continuous power supply and assists them in working constantly. Thus, the industry in focus is expected to witness high growth during the forecast period.

Major Challenge

The replacement cost of charging stations is the major challenge impeding growth. AMRs can function at various power capacities and come in a variety of configurations. According to various configurations and the power capacity needed for recharging, these are created. This is because it occasionally experiences technical issues or malfunctions that may make charging more difficult.

These must be replaced as alternative chargers might not be able to handle an AMR. This affects the portability of these and raises the cost of the charging stations as a whole. Similar to how the multi-robot charging robot station's technical failure will hamper the ability of multiple robots to charge, this will significantly impact floor operations. As a result, situations like this raise the price of replacing these stations.

Key Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Mobile Robot Charging Station Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Clearpath Robotics Inc. - The company offers the Husky UGV Wireless Charging Kit. This segment focuses on manufacturing industrial robot research and development applications and offers guidance, navigation, control, perception, military engineers, educational mobile robots, hardware components, and computer scientists.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Which are the Key Regions for the Market?

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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The region has extensively implemented AMRs in various end-user industries, including oil and gas, defense, and hospitality. Factory automation with the implementation of these technologies resulted in the growth of these in the region. The growing investments in innovation and R&D by governments, private sectors, and academia on the exploration of these technology will further propel the growth in the region during the forecast period.

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027. The market has been segmented by Application (Industrial and Commercial), Type (Stand-alone chargers and Multi-robot chargers), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).

Application Outlook (USD Million, 2017 - 2027)
- Industrial
- Commercial

Type Outlook (USD Million, 2017 - 2027)
- Stand-alone chargers
- Multi-robot chargers

Region Outlook (USD Million, 2017 - 2027)
- North America
  - The U.S.
  - Canada
- Europe
  - The U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa
- South America
  - Brazil
  - Argentina

Market Analyst Overview

The Market is experiencing rapid growth driven by the increasing adoption of electric vehicles (EVs) and the need for innovative charging solutions. These stations are equipped with autonomous driving technology and utilize ML & AI (artificial intelligence) algorithms for efficient operation.

Advanced features such as automatic payment processing and autonomous vehicle detection enhance user experience, while smart charging spaces with wireless charging capabilities offer convenience. The sustainability aspect is also emphasized, with greener transportation solutions incorporating energy-efficient designs and materials. The integration of renewable energy solutions like wind turbines and solar panels, along with energy management systems that optimize charging during off-peak hours to reduce grid loads, ensures efficient electricity usage. Overall, the Mobile Robot Charging Station Market is driving the transition towards sustainable transportation infrastructure.

Mobile Robot Charging Station Market Scope
Report Coverage	Details
Page number	159
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 28.08%
Market growth 2023-2027	USD 358.94 million
Market structure	Fragmented
YoY growth 2022-2023(%)	26.51
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 34%
Key countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Clearpath Robotics Inc., Festo SE and Co. KG, KUKA AG, OMRON Corp, Singapore Technologies Engineering Ltd., Volkswagen AG, Zebra Technologies Corp., DF Automation and Robotics Sdn Bhd, Locus Robotics Corp., Mobile Industrial Robots AS, Neobotix GmbH, Nidec Corp., PAL Robotics, Paul Vahle GmbH and Co. KG, Robotnik Automation SLL, Shenzhen Tianyou Intelligence Co. Ltd., SMP Robotics Systems Corp., Trossen Robotics, WiBotic, and Wiferion GmbH
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
Precise estimation of the size of the market size and its contribution to the parent market
Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global mobile robot charging station market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global mobile robot charging station market 2017 - 2021 ($ million)

4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application

6.3 Industrial - Market size and forecast 2022-2027
- Exhibit 34: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Industrial - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

6.4 Commercial - Market size and forecast 2022-2027
- Exhibit 38: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Commercial - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Application
- Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Type

7.1 Market segments
- Exhibit 43: Chart on Type - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

7.2 Comparison by Type
- Exhibit 45: Chart on Comparison by Type
- Exhibit 46: Data Table on Comparison by Type

7.3 Stand-alone chargers - Market size and forecast 2022-2027
- Exhibit 47: Chart on Stand-alone chargers - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on Stand-alone chargers - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on Stand-alone chargers - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Stand-alone chargers - Year-over-year growth 2022-2027 (%)

7.4 Multi-robot chargers - Market size and forecast 2022-2027
- Exhibit 51: Chart on Multi-robot chargers - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Multi-robot chargers - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Multi-robot chargers - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Multi-robot chargers - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Type
- Exhibit 55: Market opportunity by Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 57: Chart on Market share by geography 2022-2027 (%)
- Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 59: Chart on Geographic comparison
- Exhibit 60: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027
- Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027
- Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 APAC - Market size and forecast 2022-2027
- Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.7 South America - Market size and forecast 2022-2027
- Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027
- Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 China - Market size and forecast 2022-2027
- Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

9.10 UK - Market size and forecast 2022-2027
- Exhibit 89: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.11 Germany - Market size and forecast 2022-2027
- Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.12 Japan - Market size and forecast 2022-2027
- Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography
- Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 102: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 104: Overview on factors of disruption

11.4 Industry risks
- Exhibit 105: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 106: Vendors covered

12.2 Market positioning of vendors
- Exhibit 107: Matrix on vendor position and classification

12.3 Clearpath Robotics Inc.
- Exhibit 108: Clearpath Robotics Inc. - Overview
- Exhibit 109: Clearpath Robotics Inc. - Product / Service
- Exhibit 110: Clearpath Robotics Inc. - Key offerings

12.4 Festo SE and Co. KG
- Exhibit 111: Festo SE and Co. KG - Overview
- Exhibit 112: Festo SE and Co. KG - Product / Service
- Exhibit 113: Festo SE and Co. KG - Key offerings

12.5 Mobile Industrial Robots AS
- Exhibit 114: Mobile Industrial Robots AS - Overview
- Exhibit 115: Mobile Industrial Robots AS - Product / Service
- Exhibit 116: Mobile Industrial Robots AS - Key offerings

12.6 Nidec Corp.
- Exhibit 117: Nidec Corp. - Overview
- Exhibit 118: Nidec Corp. - Business segments
- Exhibit 119: Nidec Corp. - Key news
- Exhibit 120: Nidec Corp. - Key offerings
- Exhibit 121: Nidec Corp. - Segment focus

12.7 OMRON Corp
- Exhibit 122: OMRON Corp - Overview
- Exhibit 123: OMRON Corp - Business segments
- Exhibit 124: OMRON Corp - Key news
- Exhibit 125: OMRON Corp - Key offerings
- Exhibit 126: OMRON Corp - Segment focus

12.8 PAL Robotics
- Exhibit 127: PAL Robotics - Overview
- Exhibit 128: PAL Robotics - Product / Service
- Exhibit 129: PAL Robotics - Key offerings

12.9 Paul Vahle GmbH and Co. KG
- Exhibit 130: Paul Vahle GmbH and Co. KG - Overview
- Exhibit 131: Paul Vahle GmbH and Co. KG - Product / Service
- Exhibit 132: Paul Vahle GmbH and Co. KG - Key offerings

12.10 Robotnik Automation SLL
- Exhibit 133: Robotnik Automation SLL - Overview
- Exhibit 134: Robotnik Automation SLL - Product / Service
- Exhibit 135: Robotnik Automation SLL - Key offerings

12.11 Shenzhen Tianyou Intelligence Co. Ltd.
- Exhibit 136: Shenzhen Tianyou Intelligence Co. Ltd. - Overview
- Exhibit 137: Shenzhen Tianyou Intelligence Co. Ltd. - Product / Service
- Exhibit 138: Shenzhen Tianyou Intelligence Co. Ltd. - Key offerings

12.12 Singapore Technologies Engineering Ltd.
- Exhibit 139: Singapore Technologies Engineering Ltd. - Overview
- Exhibit 140: Singapore Technologies Engineering Ltd. - Business segments
- Exhibit 141: Singapore Technologies Engineering Ltd. - Key offerings
- Exhibit 142: Singapore Technologies Engineering Ltd. - Segment focus

12.13 SMP Robotics Systems Corp.
- Exhibit 143: SMP Robotics Systems Corp. - Overview
- Exhibit 144: SMP Robotics Systems Corp. - Product / Service
- Exhibit 145: SMP Robotics Systems Corp. - Key offerings

12.14 Trossen Robotics
- Exhibit 146: Trossen Robotics - Overview
- Exhibit 147: Trossen Robotics - Product / Service
- Exhibit 148: Trossen Robotics - Key offerings

12.15 Volkswagen AG
- Exhibit 149: Volkswagen AG - Overview
- Exhibit 150: Volkswagen AG - Business segments
- Exhibit 151: Volkswagen AG - Key offerings
- Exhibit 152: Volkswagen AG - Segment focus

12.16 WiBotic
- Exhibit 153: WiBotic - Overview
- Exhibit 154: WiBotic - Product / Service
- Exhibit 155: WiBotic - Key offerings

12.17 Zebra Technologies Corp.
- Exhibit 156: Zebra Technologies Corp. - Overview
- Exhibit 157: Zebra Technologies Corp. - Business segments
- Exhibit 158: Zebra Technologies Corp. - Key news
- Exhibit 159: Zebra Technologies Corp. - Key offerings
- Exhibit 160: Zebra Technologies Corp. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 161: Inclusions checklist
- Exhibit 162: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 163: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 164: Research methodology
- Exhibit 165: Validation techniques employed for market sizing
- Exhibit 166: Information sources

13.5 List of abbreviations
- Exhibit 167: List of abbreviations

in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.

slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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