According to our latest market study on “Robot End-Effector Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by type, application and industry,” the market was valued at US$ 3,125.59 million in 2020 and it is projected to reach US$ 9,664.68 million by 2028; it is expected to grow at a CAGR of 15.6% from 2021 to 2028.
At present, in the high-tech industry, the demand for innovative products is surging tremendously. The trend of reliable and effective devices, which can perform tasks faster and have lower production costs, is increasing in various verticals across the world. End-effector technology, which is considered as the business end of robots, is gaining immense popularity across the world. End-effector is attached to a wrist of a robot, which enables the robot to interact with its task. End-effectors can be electromechanical or mechanical and serve as sensors, grippers, and process tools.
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Competitive Landscape: Robot End-Effector Market: ABB Ltd.; ATI Industrial Automation, Inc.; DESTACO (Dover Corporation); Festo SE & Co. KG; J. Schmalz GmbH; Kuka AG; Piab AB; Robotiq Inc.; SCHUNK GmbH & Co. KG; and Zimmer Group are among the few major companies operating in the robot end-effector market.
It is an essential part of a robot since, without it, most robots are practically useless. It uses various communication protocols and different programming interfaces and needs different levels of skills to operate effectively. The robot end-effector is used in various industries, including automotive, metal and machinery, electrical & electronics, food & beverages, and e-commerce. With the development of Industry 4.0, industrial operations are rising, leading to the popularity of robots for taking up complex tasks. Growing innovations in robotics are commencing an exponential growth of the robot end-effector market.
The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Robot End-Effector market. The researcher provides an extensive analysis of the Robot End-Effector market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
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Geographically, Asia Pacific held the largest share of the robot end-effector market in 2020, followed by Europe and North America. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The robot end-effector market is segmented into type, application, industry, and geography. Based on type, the market is further categorized into grippers, welding guns, clamps, suction cups, tool changers, and others.
Impact of COVID-19 Pandemic on Robot End-Effector Market
According to the latest situation report from World Health Organization (WHO), the US, India, Brazil, Russia, UK, France, Spain, and Italy are some of the worst affected countries due to the COVID-19 outbreak. The outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of 18th March 2021, 121,209,510 confirmed COVID-19 cases registered globally, with 2,680,469 total deaths, and the number is growing at varying rates in different countries. The COVID-19 crisis affects the industries worldwide, and the global economy adversely affected in 2020 and likely in 2021. The pandemic has disturbed robot end-effector businesses and suppliers around the globe.
The grippers segment held the largest share of the overall market in 2020. Based on application, the market is segmented into handling, assembly, welding, processing, dispensing, and others. In 2020, the handling segment accounted for a substantial share of the global robot end-effector market. Based on industry, the market is further categorized into automotive, electrical and electronics, metals and machinery, food and beverages, and others. The automotive segment represented the largest share of the overall market in 2020.
Our Sample Report Accommodate a Brief Introduction of the research report, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology
In Market Segmentation by Geographical Regions, the report has analyzed the following regions-
- North America (USA, Canada and Mexico)
- Europe(Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
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