Rising Demand for Automation Hits Robot End Effector Market at a CAGR of 16.9% By 2030
The growth of the robot end effector market is majorly driven by rise in adoption of automation in industrial manufacturing.
PORTLAND, OR, UNITES STATES, February 27, 2023 /EINPresswire.com/ — The robot end effector market was valued at $3.3 billion in 2020, and is expected to reach $ 15.6 million by 2030, registering a CAGR of 16.9% from 2021 to 2030. Robot end effectors are also known as tool tips, robotic accessories, robot tools, end-of-arm tooling (EOA), robotic peripherals, or end-of-arm devices. These tools are equipped on the tip of the robot arm and respond to the operations that are carried out by the robotic arm. The robotic arm can be a gripper, sensor, or process tool. The robot end effector can be used with the robot that carries out operations such as assembling, material handling, and similar tasks.
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Increase in adoption of collaborative robots in the industries has significantly boosted the demand for robot end effectors. In addition, adoption of automation in manufacturing and logistic industries has helped to carry out operations at faster rate and with higher accuracy with the help of robot end effectors. Thus, all these factors collectively are anticipated to notably contribute toward the growth of the global robot end effector market during the forecast period.
The robot end effector market is segmented into type, application, end user, robot type, and region. By type, the market is segregated into grippers, process tools, sensors, and tool changers. The applications covered in the study include handling, assembling, welding, and others. On the basis of end user, the market is fragmented into automotive, electronics, food & beverage, metal & machinery, and others.
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Top Players:
The major players profiled in the robot end effector market include ABB, Destaco (Dover Corporation), Kuka AG, Millibar, Inc., Piab AB, Robotiq, Schmalz, Toyota Industries Corporation (Bastian Solutions, LLC), Weiss Robotics GmbH & Co. KG, and Zimmer Group. Major companies in the market have adopted product launch as their key developmental strategy to offer better products and services to customers.
Key Findings Of The Study:
• By type, the grippers segment was the highest revenue contributor in 2020.
• On the basis of application, the handling segment was the highest revenue contributor in 2020.
• By end-user industry, the automotive segment dominated the market in 2020.
• Depending on robot type, the traditional industrial robots segment acquired the leading position in 2020.
• Asia-Pacific generated the highest revenue in 2020.
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Adaptive Robotics Market – https://www.alliedmarketresearch.com/adaptive-robotics-market
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