Press release
South America Robot End-Effector Market Growth, Size, Share, Industry Report and Forecast 2021-2028 | Kuka AG, Piab AB, Robotiq Inc., Zimmer Group
The South America robot end-effector market is expected to grow from US$ 183.89 million in 2021 to US$ 300.57 million by 2028; it is estimated to grow at a CAGR of 7.3% from 2021 to 2028.At present, in the high-tech industry, the demand for innovative products is surging tremendously. The trend of reliable and effective devices, which can perform tasks faster and have lower production costs, is increasing in various verticals across the region. End-effector technology, which is considered as the business end of robots, is gaining immense popularity across the region. End-effector is attached to a wrist of a robot, which enables the robot to interact with its task.
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In the South America, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19's spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to have a direct impact on the region's economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners. The sharp decline in the sales of the automotive and electronics industries in the region due to lockdown measures is expected to directly impact the growth of the robot end-effector market. Besides, decline in business activities and product sales are expected to directly affect the growth rate of the market till mid-2021.
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Major Key players covered in this report:
• ABB Ltd.
• Festo SE & Co. KG
• J. Schmalz GmbH
• Kuka AG
• Piab AB
• Robotiq Inc.
• Schunk GmbH & Co. KG
• Zimmer Group
SOUTH AMERICA ROBOT END-EFFECTOR MARKET SEGMENTATION
South America Robot End-Effector Market, by Type
• Welding Guns
• Clamps
• Grippers
• Suction Cups
• Tool Changers
• Others
South America Robot End-Effector Market, by Application
• Handling
• Assembly
• Welding
• Processing
• Dispensing
• Others
South America Robot End-Effector Market, by Industry
• Automotive
• Metals and Machinery
• Electrical and Electronics
• Food and Beverages
• Others
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With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America robot end-effector market. Industrial robots play an important role in manufacturing industrial automation as several major operations in industries are being managed by robots. The governments are taking initiatives to support and promote the development and adoption of industrial robots in their respective countries, which is surging its demand. The automotive industry witnessed massive demand for industrial robots, as in 2017, ~125,500 units were sold for the industry. The robust growth sectors in the same year were the metal, electrical/electronics, and food industries.
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