A lead analyst at AMR highlighted that the robot end effector market in LAMEA is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the robot end effector market. The findings of the report states that the global market for robot end effector generated $3.26 billion in 2020, and is expected to reach $ 15.62 billion by 2030, registering a CAGR of 16.9% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in application of collaborative robots, rapid industrialization, and rise in adoption of automation in the manufacturing industry are expected to drive the growth of the global robot end effector market. On the other hand, the extortionate cost of installation is expected to hinder the growth to some extent. However, extensive adoption of automation in various end-use industries is expected to create ample opportunities for the industry.
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“The growth of the robot end effector market is majorly driven by rise in adoption of automation in industrial manufacturing. In addition, robot end effectors majorly find their application in the automobile industry; thus, expansion of the automotive industry is expected to boost the growth of the robot effector market. Moreover, robot end effectors are majorly used for handling operations in majority of industries. Asia-Pacific dominated the robot end effector market in 2020, owing to presence of large-scale production facilities in countries such as China and India,” says Rohit Sawant, Industry Analyst, and Construction & Manufacturing at Allied Market Research.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the robot end effector market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global robot end effector market, owing to the presence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various industries, including the manufacturing, construction and others, which decreased the demand for collaborative robots. This was majorly due to the stringent restrictions imposed by the government to curb the spread of the virus during the pandemic. However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global robot end effector market based on type, application, end user, robot type and region.
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Based on type, the grippers segment held the largest market share in 2020, holding more than two-fifths of the global market. The sensors segment, on the other hand, is predicted to cite the fastest CAGR of 18.0% during the forecast period.
Based on application, the handling segment held the majority market share in 2020, holding more than two-fifths of the global market. The assembling segment, on the other hand, is predicted to cite the fastest CAGR of 17.8% during the forecast period.
Based on region, the market across Asia-Pacific region held the lion’s share in 2020, garnering more than three-fifths of the global market. The LAMEA region, on the other hand, is predicted to cite the fastest CAGR of 17.9% during the forecast period.
The key players analzyed in the global robot end effector market report 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.
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