The global robot end effector market is expected to grow from USD 2.3 billion in 2023 to USD 4.3 billion by 2028, registering a CAGR of 13.5%. The main drivers for the expansion of the robot end effector market include a rising demand for modular end effectors, a surge in cobot adoption, increasing penetration of automation in small and medium-sized enterprises (SMEs), and growing adoption in industries such as warehousing, pharmaceuticals, and food & beverage.
Grippers accounted for the largest share of robot end-effector market in 2022
Grippers accounted for the largest share due to the growing popularity of electric grippers, collaborative grippers, soft grippers, and customized grippers.This trend is expected to continue during the forecast period as well.
The market for grippers is largely driven by its handling application in a wide range of workpieces considering their various shapes and size, the use of 3D printing technology such as fused deposition modeling (FDM) 3D printing, and their increasing applications in healthcare industries. Additionally, the increasing application of soft grippers and vacuum grippers in the pharmaceutical & food industry would present several growth opportunities to players operating in the gripper segment.
Traditional industrial robots accounted for the largest share of robot end-effector market in 2022
Traditional industrial robots are developed with speed and accuracy in mind.They are generally built to carry high payloads and are programmed to perform a single task continuously.
The adoption of traditional industrial robots for heavy-duty applications in the industries such as automotive, electrical & electronics, and metal & machinery has increased the sales of industrial robots as it is largely dependent on these industries.
Asia Pacific to account for the largest market size in 2022
The market growth in Asia Pacific can be attributed to the investment in automation by automotive and, electrical & electronics companies, especially in countries such as China, South Korea, and India.The aging population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation.
This region is considered a major manufacturing hub in the world, which is expected to provide ample growth opportunities to the end effector market.
Break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
• By Designation – C-level Executives – 40%, Directors – 40%, and Others – 20%
• By Region – North America - 40%, Europe – 30%, Asia Pacific – 25%, and RoW – 10%
The major players in the market are Schunk (Germany), Schmalz (Germany), Zimmer Group (Germany), Tünkers (Germany), and Destaco (US).
The robot end-effector market has been segmented into type, robot type, application, industry, and region.The robot end-effector market was studied for North America, Europe, Asia Pacific, and the Rest of the World (RoW).
The report describes the major drivers, restraints, challenges, and opportunities pertaining to the robot end-effector market and forecasts the same till 2028. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the robot end-effector ecosystem.
Key Benefits of Buying the Report:
The report offers valuable insights into the robot end effector market, including precise revenue estimates for the overall market and its subsegments.In addition, the report provides a comprehensive analysis of the market’s competitive landscape, key players, and value chain, which can aid market leaders and new entrants in making informed decisions.
The report is instrumental in helping stakeholders gain a deeper understanding of the competitive landscape and plan effective go-to-market strategies. Moreover, it provides a detailed overview of the market’s pulse, highlighting key drivers, restraints, challenges, and opportunities that stakeholders can leverage to their advantage.