Robot End Effector Market is expected to grow to reach USD 4.4 billion by 2026 at a CAGR of 18.8% | Zimmer Group (Germany), Schunk (Germany), Schmalz (Germany), Destaco (US), Festo (Germany) etc.

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The report profiles key players in the robot end effector market with their respective market ranking analysis. Prominent players profiled in this report are Zimmer Group (Germany), Schunk (Germany), Schmalz (Germany), Destaco (US), Festo (Germany), Piab AB (Sweden) Tünkers (Germany), Robotiq (Canada), FIPA (Germany), Wiess Robotics (Germany), ATI (US), Bastian Solutions (US), IPR (Germany), ABB (Switzerland), KUKA (Germany), SMC (Japan), Applied Robotics (Denmark), IAI (Japan), JH Robotics (US), EMI (US), Millibar Robotics (US), RAD (US), Soft Robotics (US), OnRobot (Denmark), and Wyzo (Switzerland).

“The robot end effector market is projected to grow at a CAGR of 18.8% during 2021–2026”

The robot end effector market is expected to grow from USD 1.9 billion in 2021 and is projected to reach USD 4.4 billion by 2026; it is expected to grow at a CAGR of 18.8% during the forecast period. Initiatives by governments and public-private companies to mitigate COVID-19 impact, and growth in the demand of modular end effectors are expected to drive the robot end effector market and to promote new revenue opportunities for end-of-arm-tooling manufacturers. However, high cost of deployment of industrial robots for SMEs, interoperability issue and difficulty in integration of different robotic frameworks with existing facilities are few major hindrance for robot end effector market.

“Collaborative Industrial Robots to be the faster-growing segment for robot end effector market during the forecast period”

Collaborative robots have huge potential in industries as they can directly and safely interact with humans in a shared workspace with ISO/TS 15066 standard certification. These robots are witnessing widespread adoption in small and medium-sized enterprises and large-scale, traditional industries such as automotive. Collaborative robots can be programmed offline by the hand guidance function. The ease of use and the low cost of deployment compared with traditional industrial robots attract small businesses, which manufacture in small volumes and have limited investment capital. Their flexibility to easily adapt to different tasks makes them appealing to many industries and enables a faster return on investment (ROI) opens up further opportunities for collaborative end effector market. The collaborative robots mainly adopt grippers as an end effector as they are not entitled to heavy-duty tasks, the advancement and research & developments in HRC (Human-robot collaboration) grippers is further expected to drive the market.

“Welding guns to hold the largest share of market in terms of shipment in 2021”

Welding guns segment is expected to account for the largest shipment of the robot end effector market in 2021. This is due to the high deployment of traditional industrial robots and their associated welding gun end effectors for different types of welding applications across several industries such as automotive and metals & machinery. Essentially, these welding end effectors play an important role in the automobile industry, which is now leaning toward the adoption of collaborative robots. Due to this high adoption rate across various industries, the welding guns market for collaborative industrial robots is projected to grow at a higher rate than that of traditional industrial robots during the forecast period. Welding guns are also utilized in machining individual components such as engine bearings or transmission parts which further makes metals and machinery industry a lucrative market for welding guns. Due to the high adoption rate across various industries, the market for welding guns is expected to flourish at a significant rate during the forecast period.

“Asia Pacific: The fastest-growing region in the robot end effector market”

The Asia Pacific region is estimated to dominate the robot end effector market in terms of value as well as volume and is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the improving socio-economic conditions in emerging economies such as China and India. In addition, the end effector market in APAC is expected to witness higher growth than the matured markets in Europe and North America due to low production costs, lenient emission and safety norms, and government initiatives for foreign direct investments (FDIs).

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This release was published on openPR.