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Image: brizmaker/stock.adobe.com The Victorian Government is backing an innovative local startup, Kit Magnetics, to establish a new advanced manufacturing facility in Melbourne, creating more than 650 jobs. This is set to boost local and global export markets and benefiting industries like automotive, transport and mining.
In 2023, the market grew by 23 percent, largely driven by the battery manufacturing industry. percent between 2024 and 2029, with $1.1 billion in sales projected for 2029. percent forecast from 2023 to 2029. By 2029, the market size is projected to be worth more than $80 million, notes the firm.
Volkswagen, Germany’s iconic automotive brand, is on the verge of making drastic structural changes. The move, prompted by the company’s need to realign its finances and meet long-term strategic goals, has sent shockwaves through the global automotive market.
Source: Zebra Technologies Only 1 in 6 manufacturers has a clear understanding of its own processes, according to a new study from Zebra Technologies Corp. The report also found that 61% of manufacturers expect artificial intelligence to drive growth by 2029, up from 41% in 2024. Zebra commissioned Azure Knowledge Corp.
Interact Analysis here discusses two new growth areas it has identified from its research and conversations with manufacturers: smart conveyance technology and robots with machine-integrated control. By 2029, sales of linear systems could exceed $1.1 billion, nearly five times the market size in 2020, according to Interact Analysis.
Nissan expects to mass produce electric vehicles powered by advanced next-generation batteries by early 2029, the company said on Apr. 16 during a media tour of an unfinished pilot plant. Japan’s legacy automakers have fallen behind newer rivals like America’s Tesla and China’s BYD in the emerging all-electric auto sector.
Comau is expanding from automotivemanufacturing to logistics applications such as pick and place. million by 2029. million by 2029. .” million by 2029. Comau has 50 years of experience with manufacturers and employs more than 3,700 people in 13 countries. million industrial robots today to 2.6
increase to reach 128,462 new registrations, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). Constrained supply saw many manufacturers prioritise deliveries of the latest zero emission-capable models. million, around 700,000 units below pre-Covid levels. billion in additional turnover.
Robotics insights Industrial robot market growth is expected to grow at a CAGR of 18% from 2019 to 2029 thanks to robotics being increasingly used in the automotive and electronics industry according to a report by Future Market Insights. This is driven by the digitalization of manufacturing processes.
Like the mineral sourcing requirement, the required share of battery pack content will also progressively increase: 60% in 2024 and 2025, 70% in 2026, 80% in 2027, 90% in 2028, to finally 100% in 2029. The increasingly political dimension to EVs, in turn, is a consequence of the revival of industrial policy to bolster the automotive industry.
SwRI Workbench for Offline Robotics Development allows manufacturing engineers to independently use complex robotics and simplifies motion planning for seasoned developers. Various forecasts project that the open-source advanced robotics market will grow more than 10% annually between 2024 and 2029.
With the King’s Speech having outlined a new parliamentary agenda until 2029, we now look forward to working with government to deliver its ambitions for green economic and industrial growth. From trade and industrial policy to the skills transition and automated vehicles, our two markets are intertwined and many of our challenges shared.
And those rules become more stringent over time — to the point where, in a few years, it’s possible that no EVs would qualify for the tax credit, says John Bozzella, CEO of the Alliance of Automotive Innovation, a key industry trade group. Those requirements also grow stricter each year, eventually reaching 100% in 2029.
Production is expected to start in the second half of 2026 and continue through 2033, with peak supply anticipated in 2029. “Neo is focused on becoming the first manufacturer and supplier of made-in-EU rare earth magnets for EV traction motors. million electric and hybrid vehicle traction motors.
All products are manufactured on high-performance 8-inch production lines in Villach (Austria) and Kulim (Malaysia). This will enable Infineon to further expand its CoolGaN capacity and ensure a robust supply chain in the GaN power market, which is expected to reach $2 billion by 2029, according to Yole Group [1].
a distributor of tractors, turf and construction equipment in Canada, announced that it has signed a six-year sponsorship agreement through 2029 with the Toronto Blue Jays, becoming an Official Partner of Canada’s only Major League Baseball team. PICKERING — Kubota Canada Ltd.,
Now, as companies across manufacturing, retail, construction, automotive mobility, and healthcare grapple with the dearth of experienced technical employees and workflow challenges, commercial XR hardware is poised to generate new opportunities worth $40.68
Fastener distributors serve a variety of markets, including construction, manufacturing, automotive, aerospace, marine, and many others. Their customers can range from small businesses and repair shops to large industrial manufacturers and government agencies. through 2029.
PLATTSBURGH — Nova Bus, a North American transit bus manufacturer, announces that it has been awarded a contract for five LFSe+, the 40′ long-range 100% battery electric bus model of Nova Bus, by the New York State Metropolitan Transportation Authority (MTA). All bus procurements will be exclusively zero-emissions by 2029.
But this progress presents challenges in applications like micro drilling, as manufacturers must strike a balance between quality and productivity when machining tiny components. According to Fortune Business Insights , the global market for electronic manufacturing services (EMS) is expected to rise from $504.22 billion by 2029.
OEMs will continue to collaborate with various companies in the automotive value chain to expedite the development and implementation of hands-off and eyes-off technologies. Collaborations between OEMs, tier suppliers, and semiconductor manufacturers will focus on creating tailor-made integrated circuits (ICs) and software-on-chip (SoCs).
OEMs will continue to collaborate with various companies in the automotive value chain to expedite the development and implementation of hands-off and eyes-off technologies. Collaborations between OEMs, tier suppliers, and semiconductor manufacturers will focus on creating tailor-made integrated circuits (ICs) and software-on-chip (SoCs).
OEMs will continue to collaborate with various companies in the automotive value chain to expedite the development and implementation of hands-off and eyes-off technologies. Collaborations between OEMs, tier suppliers, and semiconductor manufacturers will focus on creating tailor-made integrated circuits (ICs) and software-on-chip (SoCs).
Tune in at FullyThreaded.com (2:32:00) Congratulations to ZAGO, the high-tech sustainable sealing fasteners and switch boots manufacturer is celebrating 30 years and being a woman-owned business. This is not a sales or manufacturing course, but a semi-technical course on many facets of the industry. through 2029.
9:25) Watch now on FastenerTV at YouTube (9:28) Shannon Precision Fastener has officially opened their brand new 170,000 square foot, state-of-the-art manufacturing facility. We’d love to learn about what’s driving your fastener distributorship or fastener manufacturing company forward! through 2029.
One of the primary trends is the increase in domestic manufacturing capacity, the narrowing technology gap and a wider range of products. with a focus on digitization and smart manufacturing. The market for CNC (Computer Numerical Control) machines is expanding rapidly, driven by the automotive and aerospace sectors.
HRI) recently released the results of the Harbour IQ in-depth study on the current state of the automotive vendor tooling industry. The analysis indicates automotive vendor tooling spend in North America will increase year-over-year at a rate of 13.4%, resulting in $8.3 Photo Credit: Getty Images. Harbour Results Inc.
According to a widely cited industry figure from Deloitte, in their report on smart factories, even during the best of times – before COVID caused disruption – unplanned downtime costs industrial manufacturers an estimated $50 billion annually. Manufacturing Tomorrow | Nov 14, 2022 | Manufacturing Tomorrow. Harbour Results Inc.
HRI), a leading authority to the manufacturing industry, recently released the results of the Harbour IQ in-depth study on the current state of the automotive vendor tooling industry. The analysis indicates automotive vendor tooling spend in North America will increase year-over-year at a rate of 13.4% Harbour Results, Inc.
The integration of CAD/CAM (Computer-Aided Design/Computer-Aided Manufacturing) became more prevalent, streamlining the design-to-production workflows. The customization and flexibility in manufacturing is driving the demand for machine tools that can adapt to varying production requirements.
The slow-but-accelerating proliferation of battery electric vehicles (BEVs) is a good news-bad news situation for North American automotive tooling suppliers, says Laurie Harbour, president and CEO of Harbour Results Inc. which has recently completed a study of the industry. The good news is that there is a growing number of EVs.
Ford: Investing in joint ventures to scale up EV battery manufacturing. Technological Advancements: Next-gen battery technologies such as solid-state and lithium-sulfur are reshaping performance benchmarks. Companies to Action: Tesla: Collaborating with suppliers for next-gen EV battery production.
As a result, the ability to transmit and process data in real time is reshaping verticals like smart cities, healthcare, automotive mobility, manufacturing, and agriculture with applications like smart grids, telehealth, autonomous driving, predictive maintenance, and smart farming.
Panasonic will slash its global workforce by 10,000 people, half in Japan and half overseas, to become a more efficient, lean company, the Japanese manufacturer said Friday. billion) by the fiscal year through March 2029.
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