Robot End Effector Market Projected Expansion to $15.62 billion Value by 2030 with a 16.9% CAGR

Robot End Effector Market by Type (Grippers, Process Tools, Sensors, and Tool Changers), Application (Handling, Assembling, Welding, and Others), End User (Automotive, Electronics, Food & Beverage, Metal & Machinery, and Others), and Robot Type (Traditional Industrial Robots and Collaborative Robots): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global robot end effector industry was estimated at $3.26 billion in 2020, and is anticipated to hit $15.62 billion by 2030, registering a CAGR of 16.9% from 2021 to 2030.

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Drivers, restraints, and opportunities-
Increase in applications of collaborative robots and adoption of automation in manufacturing industries drive the growth of the global robot end effector market. On the other hand, high cost of the robots impedes the growth to some extent. Nevertheless, integration of Internet of Things is expected to create lucrative opportunities in the industry.

Covid-19 scenario:
The outbreak of the pandemic hampered the manufacturing activities of robotic systems, especially during the initial phase. The essential guidelines imposed by government distorted the supply chain and augmented the prices of raw materials.
Nevertheless, the increase in adoption of touchless operations in several industries heightened the demand for robot end effectors, thereby providing a mixed impact to the global robot end effector market.

The grippers segment to dominate by 2030-
By analysis type, the grippers segment held the major share in 2020, holding more than two-fifths of the global robot end effector market. This is owing to rise in use of these effectors for material handling purposes. The sensors segment, on the other hand, is anticipated to portray the fastest CAGR of 18.0% during the forecast period. Surge in use of robot end effectors in collaborative robots fuels the growth of the segment.

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The handling segment to maintain the dominant share-
By application, the handling segment had the lion's share in 2020, holding more than two-fifths of the global robot end effector market. This is due to increase in use of robot end effectors in the material handling industry across the world. The assembling segment, however, is expected to manifest the fastest CAGR of 17.8% throughout the forecast period.

Asia-Pacific, followed by Europe and North America, garnered the major share in 2020-
By region, the market across Asia-Pacific dominated the market in 2020, generating more than three-fifths of the global robot end effector market. Large scale use of robot end effectors in the manufacturing industry, majorly in China fuels the market growth in the province. Simultaneously, the market across LAMEA is expected to showcase the fastest CAGR of 17.9% from 2021 to 2030. This is due to increase in adoption of robotic system in the manufacturing industries across the region.

Key players in the industry-
Kuka AG, Destaco (Dover Corporation), Piab AB, ABB, Millibar, Inc., Robotiq, Schmalz, Zimmer Group, Weiss Robotics GmbH & Co. KG, Toyota Industries Corporation (Bastian Solutions, LLC)

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