How the Electric Vehicle Market Effects Industrial Automation
The electric vehicle market has grown exponentially in recent years, and its impact on industrial automation is beginning to be felt. As more people switch to electric vehicles, manufacturers are finding new ways to streamline industrial automation processes in order to meet the demand. In this blog post, we’ll explore how the electric vehicle boom is transforming industrial automation, and the benefits that come with it.
- Increase in Purchases & Technological Advancements
- Impact on the Job Market
- The Future of Industrial Automation
Increase in Purchases & Technological Advancements
According to an IEA report, the global electric car stock hit the 10 million mark in 2020, a 43% increase over 2019. Various factors have driven purchasing decisions such as local rebates & incentives, saving on fuel and maintenance costs, and higher performance. As advancements continue in the industry, the cost to both manufacture and purchase electric cars has dropped. EVs cost around $50,000 in 2011 which has dropped to under $30,000 today.
The cost of manufacturing an electric car is significantly higher than that of a standard car due to the parts involved. Electric cars require batteries, motors, and other special components that are not found in standard cars. These components have to be sourced from suppliers who may have limited production capacity, resulting in longer lead times for their delivery. However, the cost of producing an electric care has dropped by around 50% since 2011 largely due to advancements in battery technology and production processes. Some of these advancements include process control tools and nanomanufacturing technology.
Learn more about the recent advancements of industrial machine automation.
Impact on the Job Market
The increased demand for industrial automation has resulted in a surge of new jobs and companies in the sector with engineers, technicians, and computer scientists being in high demand.
In addition to providing jobs in the sector, electric vehicles are also having an impact on the way factories are designed. Manufacturers are now designing their factories around automated systems and robotics rather than manual labor. This shift towards automation has enabled manufacturers to produce more efficient and cost-effective electric vehicles. Companies such as Tesla and GM have made major investments in their own industrial automation capabilities in order to produce efficient electric vehicles.
Finally, electric vehicles are also changing the way the industry approaches safety. Automated systems are able to provide higher levels of accuracy and reliability than manual labor, which helps to ensure the safety of workers and reduce the risk of accidents. As electric vehicles become more commonplace, manufacturers will need to invest heavily in automated safety systems to ensure the safety of their workers.
The Future of Industrial Automation
As electric vehicles continue to gain popularity, the need for automated solutions will only continue to increase both in terms of jobs and advancements in technology. This allows companies to leverage advancements and stay ahead of the competition as they deliver the best products for the best price to customers.
Additionally, investments in automation technologies could help create new value streams through innovations such as cloud computing or connected services. By understanding customer needs and developing innovative ways to meet them, industrial automation firms can create greater value for themselves and their customers.
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