Robot End Effector Market Latest Rising Trend At a CAGR of 16.9% Forecast to 2031

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.

Robot end effectors are also known as tool tips, robotic accessories, robot tools, end-of-arm tooling (EOA), robotic peripherals, or end-of-arm devices. These tools are equipped on the tip of the robot arm and respond to the operations that are carried out by the robotic arm. The robotic arm can be a gripper, sensor, or process tool. The robot end effector can be used with the robot that carries out operations such as assembling, material handling, and similar tasks.

Increase in adoption of collaborative robots in the industries has significantly boosted the demand for robot end effectors. In addition, adoption of automation in manufacturing and logistic industries has helped to carry out operations at faster rate and with higher accuracy with the help of robot end effectors. Thus, all these factors collectively are anticipated to notably contribute toward the growth of the global robot end effector market during the forecast period.

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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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.

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.

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Top Industry News:

High initial investment cost to setup robotic systems in industries acts as a major restraint of the global market. Utmost care needs to be taken while handling the robot arm, as it is highly to prone to damage while carrying out heavy operations, which further hampers the sale of robot end effectors, thereby limiting the market growth.

Top Players:

The major players profiled in the robot end effector market include ABB, Destaco (Dover Corporation), Kuka AG, Millibar, Inc., Piab AB, Robotiq, Schmalz, Toyota Industries Corporation (Bastian Solutions, LLC), Weiss Robotics GmbH & Co. KG, and Zimmer Group. Major companies in the market have adopted product launch as their key developmental strategy to offer better products and services to customers.

Key Findings Of The Study:

By type, the grippers segment was the highest revenue contributor in 2020.
On the basis of application, the handling segment was the highest revenue contributor in 2020.
By end-user industry, the automotive segment dominated the market in 2020.
Depending on robot type, the traditional industrial robots segment acquired the leading position in 2020.
Asia-Pacific generated the highest revenue in 2020.

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