The global robot end-effector market is expected to grow at a compound annual growth rate of 14.21% over the forecast period to reach a market size of US$7.640 billion in 2026 from US$3.014 billion in 2019. The robot end-effector market is estimated to grow in the forecast period. With the advancements in technology and owing to intense competition in the industry, developing economies are more oriented toward automation and need to boost product quality along with rising production speed to sustain performance and productivity.
The robot end-effector market was severely impacted by the outbreak of covid-19. The lack of demand from the end-user industries is one of the major reasons for the fall in the market of robot end-effector. The lockdown restrictions across various countries caused the production to halt, thereby affecting the demand and supply adversely.
The rapidly increasing automation industry has raised the demand for the deployment of robotics systems worldwide across diverse end-user sectors, thereby boosting the demand for robot end-effectors. This has resulted in many robotic advances to perform repetitive functions, including end-effectors for various surfaces and with varying degrees of freedom. In order to reduce the labor cost industries around the world are investing heavily in automation. The leading manufacturers offer robots with ith the Internet of Things connectivity (IoT), which can be conveniently connected with HMI and others within the largest industrial networking network such as Profinet, Modbus, and Ethernet IP. This will boost better power diagnostics and control of engine conditions in real-time time.
The shortage of skilled labor particularly in the developed countries will boost the demand for robot end-effector. An increase in research and development will lead to the innovation of advanced robot end-effectors which will further boost the demand in the market. The automotive industry is one of the main-users users of the robot end-effectors. The use of robots for performing difficult and dangerous tasks thereby reduces the risks. These also help in operational efficiency.
Amazon, one of the biggest retail giants has invested heavily in robots. There are now about 2,00,000 robots operating in the warehouse of Amazon in the US. With the growth in e-commerce, the demand for robot end-effectors will increase thereby increasing operational productivity and efficiency. The use of vacuum grippers is increasing in the food industry due to increased concern for the safety of food.
The electronic industry is also one of the major end-users of the robot end-effectors. Robots are more efficient in handling small electronic components. Thus, with the growth of the electronics industry, the demand for robot end-effectors will also increase. Industry 4.0, the latest industrial revolution, promoted new technological growth, such as collaborative robotics; AI-enabled robots have allowed the industries to use robots for better performance, error reduction, and the streamlined use of a wide range of processes. Improved safety at work and improved manufacturing capability enabled companies to invest in robotic systems.
APAC region to witness lucrative growth in the market
The APAC region will hold a larger market share when compared to the other regions in the forecast period. The sales of industrial robots declined in 2018 because of the decline in automobile industry demand in countries such as China and the unfavorable consequences of the trade war between China and the USA. Furthermore, the COVID-19 pandemic has had a negative effect on the development of traditional industrial robots. The growth of the APAC market in 2020-2025 is nevertheless expected. Although the growth of major APAC countries, such as China, has slowed further, their market share remains considerable. There has been an increase in penetration of the robot end-effector in the developing nations of the APAC region like India, Taiwan, etc. Due to the growing demand for electronic goods worldwide, the electronics industry is a driving force for industrial robots in APAC. Components such as computer chips and batteries that are small and sensitive must be managed with high speed and precise handling. The market is estimated to grow in the coming years as the APAC region is the home of many global players.
The key players in the market of robot end-effectors are KUKA AG, FIPA Inc., Zimmer Group, EMI Corp., Festo Group, SMC Corporation, Schmalz Inc., ABB Group, Soft Robotics, and ATI Industrial Automation. The companies compete with each other through continuous innovation. They even enter into joint ventures, mergers, and acquisitions to expand their reach and gain a global presence. These companies will continue to grow owing to the increasing demand from the end-user industries.
|Market size value in 2019||US$3.014 billion|
|Market size value in 2026||US$7.640 billion|
|Growth Rate||CAGR of 14.21% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||KUKA AG, FIPA Inc., Zimmer Group, E.M.I., Corp., Festo Group, SMC Corporation, Schmalz Inc., ABB Group, Soft Robotics, ATI Industrial Automation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the robot end-effector market size by 2026?
A1. The global robot end-effector market is expected to reach a market size of US$7.640 billion in 2026.
Q2. What is the size of global robot end-effector market?
A2. Robot End-Effector Market was valued at US$3.014 billion in 2019.
Q3. What are the growth prospects for the robot end-effector market?
A3. The robot end-effector market is expected to grow at a CAGR of 14.21% over the forecast period.
Q4. What factors are anticipated to drive the robot end-effector market growth?
A4. The rapidly increasing automation industry has raised the demand for the deployment of robotics systems worldwide across diverse end-user sectors, thereby boosting the demand for robot end-effectors.
Q5. Which region holds the maximum market share of the robot end-effector market?
A5. The APAC region will hold a larger share of the robot end-effector market when compared to the other regions in the forecast period.