Global Robot End-Effector Market to Reach $5.7 Billion by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 8, 2019--The “Robot End-Effector Market by Type (Welding Guns, Grippers, Suction Cups, Tool Changers), Applications (Handling, Assembly, Welding), Industry (Automotive, Electrical & Electronics, Food & Beverages, E-Commerce), Geography - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The robot end-effector market is expected to grow from USD 2.6 billion in 2019 to USD 5.7 billion by 2024, at a CAGR of 16.9% during the forecast period.
Due to the fast-changing nature of industries today, demand for modular end-effectors is increasing. This scenario is observed in the consumer goods industry, specifically packaging where the shape, size, surface, or weight of the packaging is constantly changing. This shortens the life-cycle of an end-effector to 1 to 2 years and thereby increases the cost of replacement for the company.
Modular end-effectors have the capability to accommodate and handle a large variety of objects as required. Hence, the growing demand for modular end-effectors is one of the key factors driving market growth. However, the high cost of deployment of industrial robots for SMEs or low volume production acts as a key restraining factor for the market growth.
Robot end-effector market for grippers to grow at highest CAGR during forecast period
Until 2017, welding guns dominated the robot-effector market. However, from 2018 onward, grippers have the largest share owing to the growing popularity of electric grippers, collaborative grippers, soft grippers, and customized grippers and is expected to continue this trend carrying forward.
The advantage of the electric gripper is that they are fully programmable which enables them to have partially open and partially closed states. When programmed intelligently around the states of operation, they can reduce cycle time by a considerable amount. Due to their programmable nature, they can be calibrated for the use of 3 fingers or more and can be fitted with different fingertips.
Market for handling application to grow at a significant CAGR from 2019 to 2024
Handling tasks mainly include pick and place sorting, packaging, and palletizing. The grippers and suction cups are the best choices for performing these tasks. Suction cups or vacuum grippers have the largest share of use in this application due to their advantage of handling random objects with less change in its configuration.
They are preferred due to their low cost and modularity. Various processing industries such as plastics, rubber, and chemicals; pharmaceutical and cosmetics; and e-commerce have now started adopting robots on a large scale for performing repetitive tasks with highest possible accuracy. Hence, the increasing rate of adoption of industrial robots in the processing industries for handling applications is a key factor fueling the market.
APAC to dominate the robot end-effector market during forecast period
APAC is expected to dominate the robot end-effector market during 2019-2024. Increasing investment in automation by the automotive, and electrical and electronics players, especially in countries such as China, South Korea, and India, is expected to be the key driver for the market in APAC. Also, the increasing adoption of collaborative modular robots by manufacturers has elevated the demand for modular robotics in APAC.
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in Robot End-Effector Market
4.2 Robot End-Effector Market, By Type
4.3 Robot End-Effector Market, By Application
4.4 Robot End-Effector Market in APAC, By Industry vs By Country/Region
4.5 Robot End-Effector Market, By Industry
4.6 Robot End-Effector Market, By Country
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Growing Demand for Modular End Effectors
220.127.116.11 Increasing Adoption of Collaborative Robots (Cobots) Owing to Their Benefits and Features
18.104.22.168 High Cost of Deployment of Industrial Robots for SMEs
22.214.171.124 Increasing Adoption of Soft Grippers
126.96.36.199 Increasing Use of Additive Manufacturing
188.8.131.52 Growing Demand for Electric Grippers
184.108.40.206 Interoperability Issues and Difficulty in Integration of Different Robotic Framework With Existing Facilities
5.3 Value Chain Analysis
6 Industry Trends
6.2 Robot End-Effector Industry Life Cycle
6.3 Porter’s Five Forces Analysis
6.4 Technology Trends
6.5 Pricing Information of Eoats
7 Robot End-Effector Market, By Type
7.2 Welding Guns
7.4 Tool Changers
7.6 Suction Cups
8 Robot End-Effector Market, By Application
8.7 Others (Cutting and Soldering)
9 Robot End-Effector Market, By Industry
9.3 Electrical and Electronics
9.4 Metals and Machinery
9.5 Plastics, Rubber, and Chemicals
9.6 Food & Beverages
9.7 Precision Engineering and Optics
9.8 Pharmaceuticals and Cosmetics
10 Geographic Analysis
10.2 North America
11 Competitive Landscape
11.2 Market Ranking Analysis: Robot End-Effector Market, 2018
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Strength of Product Portfolio (25 Players)
11.5 Business Strategy Excellence (25 Players)
11.6 Competitive Situations and Trends
11.6.1 Product Launches
11.6.2 Partnerships and Collaborations
11.6.5 Contracts and Agreements
12 Company Profiles
12.1 Key Players
12.1.4 ATI Industrial Automation
12.1.5 Piab AB
12.1.9 Zimmer Group
12.1.12 Applied Robotics
12.2 Other Key Players
12.2.1 JH Robotics Inc.
12.2.2 EMI Corp.
12.2.3 Soft Robotics Inc.
12.2.4 Weiss Robotics
12.2.6 Bastian Solutions Inc.
For more information about this report visit https://www.researchandmarkets.com/r/7frxvj
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SOURCE: Research and Markets
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PUB: 05/08/2019 09:26 AM/DISC: 05/08/2019 09:25 AM