Cobot End Effector Market Research Analysis, Characterization and Quantification Forecast by 2030

The Cobot End Effector Market size was valued at USD 819.6 million in 2020 and is predicted to reach USD 2.66 billion by 2030 with a CAGR of 12.8% from 2021-2030.

The cobot end effector is a type of equipment installed at the end of the collaborative robotic arm. It is that part of the cobot, which interacts with the environment and accomplishes a given task. They are actuated hydraulically, electrically, mechanically or pneumatically, and are available in different sizes and shapes. There are various types of end effectors such as grippers, force-torque sensors, material removal tools, welding torches, collision sensors, and tool changers. They are widely used in tasks such as pick, move and place dry or prepreg reinforcements. Also, they used to meet industrial process requirements such as painting, welding, inspection, assembly, and machine tending among others.

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Competitive Landscape :

Lucrative growth opportunities make the cobot end effector market extremely competitive. Some of the major players in the market are ABB, Destaco, Kuka Ag, Millibar, Inc., Piab Ab, Robotiq, Schmalz, Toyota Industries Corporation, Weiss Robotics Gmbh & Co. Kg, and Zimmer Group. Strategic alliances, acquisitions and innovations along with various R&D activities are key strategies adopted by the market players to maintain their dominance in the market. For instance, in February 2021, ABB Ltd launched GoFa and SWIFTI collaborative robots that offer higher payload and speed to complement its YuMi series, with an aim to accelerate its effort to provide factory automation in high-growth segments, including electronics, health, consumer products, logistics and food & beverages. Also, in February 2021, Destaco launched TC1 Manual tool changing device which can be used for picking & placing and loading & unloading applications. The tool provides seamless integration for fast tool change operation, thereby expanding the flexibility of cobots.

The cobot end effector market is segmented on the basis of type, application, robot type, industry, and geography. Based on type, the market is segmented into grippers, suction cups, processing tools and others. On the basis of application, the market is divided into handling, assembling & disassembling, welding & soldering, dispensing, processing and other applications. Based on end user industry, the market is segmented into automotive, electronics, metal & machining, plastics & polymers, food & beverages, furniture & equipment, healthcare and other industries. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia Pacific, and Rest of the World.

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Asia Pacific is expected to witness the highest growth in the cobot end effector market. This is attributed to factors such as rising investment in manufacturing industries and growing adoption of collaborative robots in the automotive, electronics, and other sectors with the purpose to increase efficiency, productivity, and profitability. Also, rapid industrialization and modernization across the region is another prime factor driving the cobot end effector market growth in this region.

However, in 2020, due to the increasing demand for collaborative robots in the United States and Canada, North America held a considerable market share in the global cobot end-effector market and is expected to continue dominating the market for several years. In recent times, industrial automation has been widely adopted in this region due to its numerous advantages, such as reduction in labour costs, enhancement in the quality of products, improvement in overall productivity and consistency among others. Also, the rapid digital transformation in the United States promotes the use of cobot end effectors in various fields, which in turn is propelling the market growth in this region.

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