The robotic end-effector market 2020 is supposed to gain a quick mileage. A report offered by Market Research Future (MRFR) suggests that the global robotic end-effector market is supposed to strike 16.10% CAGR over the forecast period. The market size of end-effector device for robotics is supposed to reach a valuation of USD 4,827.54 Mn by 2025 up from USD 2,288.88 Mn in 2018.
These devices are attached to the end of robotic arms. Availability of various structures for catering to different needs is expected to drive the growth of the robotic end-effector market in the forthcoming years. However, issues regarding interoperability are anticipated to check the growth rate of the robotic end-effector market.
On the basis of type, the robotic end-effector market has been segmented into tool changers, grippers, clamps, suction cups, welding guns, and others. Among these, the gripper segment is assessed to exercise dominance over the market across the prognosis period. However, the fastest growth rate is expected to be marked by the welding gun segment in the upcoming years. Rising demand for welding across the automotive industry is supposed to lead the augmentation of the segment in the near future.
On the basis of application, the robotic end-effectors market has been segmented into material handling, welding, assembling, cutting & soldering, dispensing, and others. Among these, the assembling segment is projected to dominate the market in the coming years. In addition, the material handling segment also exhibits great potential. It is supposed to strike the highest rate of growth over the forecast period.
On the basis of industry, the robotic end-effector market has been segmented into precision engineering and optics, machinery, electrical and electronics, automotive, e-commerce, food & beverages, and others. Among these, the electrical and electronics segment is anticipated to account for the dominant share of the market. Furthermore, the food & beverages segment is expected to grow rapidly in the foreseeable future.
The geographical evaluation of Robotic End Effector Market is included for a comprehensive view. It covers the following regional segments - North America, Asia-Pacific, Europe, and the Rest of the World (RoW). These regional segments are narrowed down to a country-based level for offering an actionable insight into the robotic end-effector market. North America is estimated to hold the largest share between 2019 and 2025. Rising growth of robotics technology in the region is expected to lead the expansion of the robotic end-effector market. Europe is also anticipated to witness high growth rate. Increasing investments in research & development are prognosticated to drive market growth in the upcoming years. APAC is a potential market. The development of the technology sector in the region is supposed to support the development of the robotic end-effector market.
ABB (Switzerland), Festo (Germany), SCHUNK GmbH & Co. KG (Germany), KUKA AG (Germany), Dover Corporation-Destaco (US), Piab AB (Sweden), Robotic Automation Systems (US), ATI Industrial Automation, Inc. (US), TÜNKERS Maschinenbau GmbH (Germany), PHD Inc. (US), Applied Robotics, Inc. (US), Zimmer Group (Germany), Robotiq Inc. (US), Soft Robotics, Inc. (US), and TSD Manufacturing Inc. (US) are few of the important robotic end-effector companies. These players are likely to leverage innovative technologies for product launches and developments. It is supposed to intensify competition in the market and boost revenue growth. Some of the growth methods expected to be employed by existing and new players are mergers & acquisitions, collaborations, strategic alliances, partnerships, etc. Also, the market is supposed to attract investments for research & development. This, in turn, is likely to fuel competition and catapult the robotic end-effector market on growth trajectory.
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