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Automotive Industry Accounted for the Largest Share of the Robot End Effector Ma

Due to traditional heavy-duty robot end effectors having a large-scale deployment in the automotive industry for decades, the industry accounted for the largest market size of the robot end effector market in 2021. Various applications are carried out in the automotive industry, such as welding, handling, and assembly, and the welding application which flourish the robot end effector market for industry.

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Automotive Industry Accounted for the Largest Share of the Robot End Effector Ma

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  1. MarketsandMarkets Presents Automotive Industry Accounted for the Largest Share of the Robot End Effector Market throughout 2021-2026 Robot End Effector Market with COVID-19 Impact Analysis, by Type (Electric Grippers, Vacuum Cups, Tool Changers), Robot Type, Application (Handling, Assembly, Processing), Industry (Food & Beverage, E-Commerce), and Region - Global Forecast to 2026 https://www.marketsandmarkets.com/Market-Reports/robot-end-effector-market-251736819.html

  2. According to MarketsandMarkets, the robot end effector market is projected to grow from USD 1.9 billion in 2021 to USD 4.4 billion by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.8% from 2021 to 2026. The market has a promising growth potential due to several driving factors including, growing demand of modular end effectors owing to their cost effectiveness associated with redesigning; adoption of collaborative robots in heavy and non-heavy industries due to strong promotion of industry automation principles such as Industry 4.0; and initiatives by governments and public-private companies to mitigate COVID-19 impact. Browse 191 market data Tables and 86 Figures spread through 332 Pages and in-depth TOC on "Robot End Effector Market - Global Forecast to 2026

  3. Traditional industrial robots estimated to hold the larger share of the robot end effector market in 2021 The traditional industrial robot type is expected to hold the largest share of the market, both in terms of value and volume, in 2021 as they are utilized throughout all the major industries to carry high payloads and are programmed to perform a single task continuously. This dominance can be attributed to high rate of adoption of traditional industrial robots for heavy duty applications in the industries such as automotive; electrical and electronics; and metals and machinery. They are well suited for high-volume production and have been fundamental in scaling up productivity in these industries. Heavy-duty industries such as automotive and metals & machinery are expected to flourish further in APAC, owing to which end effector market for traditional industrial robots in APAC is projected to grow at the highest CAGR during the forecast period. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251736819

  4. Automotive industry is estimated to account for the largest share of the robot end effector market throughout the forecast period Due to traditional heavy-duty robot end effectors having a large-scale deployment in the automotive industry for decades, the industry accounted for the largest market size of the robot end effector market in 2021. Various applications are carried out in the automotive industry, such as welding, handling, and assembly, and the welding application which flourish the robot end effector market for industry. The market in the automotive industry expected to register the largest shipment in 2021 and is projected to continue so for the projected time period; it is expected to grow at a significant CAGR during the forecast period. The massive volume of production and assembly of multiple types of automotive components are the primary reasons for the automotive industry registering the highest number of robot end effector shipments. Moreover, automotive companies are keen toward replacing their traditional robots with cobots in order to reduce the time spent on operations, thereby opening new opportunities for HRC (human robot collaboration) end effector manufacturers.  Hence, the automotive industry is expected to hold the largest share of robot end effector market in 2021, in terms of value as well as volume. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=251736819

  5. Handling applications, such as gripping and palletizing, are projected to account for the largest share in terms of value during the forecast period The handling application to hold the largest share of the robot end effector market in 2021, in terms of value. The market for handling application is expected to grow at a significant rate and occupy ~49% of the shares, in terms of value by 2021. As the trend of miniaturization of electronic components is expected to penetrate further during the next 5 years, compact grippers and vacuum cups would prove to be more suitable for this application. Further research & developments in compact grippers, smart grippers, bionic grippers, 3D printed end effectors and vacuum cups are expected to drive the market for handling application. The major opportunity is the positive growth in demand for end effectors in the pharmaceuticals industry amid COVID-19. The rapid development of vaccines required increased automation with higher demand for robots and end effectors. Hence, this is expected to increase the scope for investment in end effectors for handling application for the existing companies as well as new entrants. Key Market Players Major vendors in the robot end effector market Zimmer Group (Germany), Schunk (Germany), Schmalz (Germany), Destaco (US), and Festo (Germany), Piab AB (Sweden) Tünkers (Germany), Robotiq (Canada), FIPA (Germany), Wiess Robotics (Germany), ATI (US), Bastian Solutions (US), IPR (Germany), ABB (Switzerland), KUKA (Germany), SMC (Japan), Applied Robotics (Denmark), IAI (Japan), JH Robotics (US), EMI (US), Millibar Robotics (US), RAD (US), Soft Robotics (US), OnRobot (Denmark), and Wyzo (Switzerland).

  6. APAC to account for the largest share in the robot end effector market in 2021 APAC is expected to adopt robot end effectors at a faster rate driven by government initiatives for foreign direct investments (FDIs) and hold the largest market share for the robot end effectors, both in terms of value and volume for the forecast period. Increasing investment in automation by automotive, and electrical & electronics companies, especially in countries such as China, South Korea, and India, is expected to be the key driver for the market in APAC. The electrical and electronics industry is the most important driver for robot end effectors, owing to the rising demand for electronic products around the world. China is expected to recover from the manufacturing slowdown due to COVID-19 in the coming years, and other countries such as Taiwan and Thailand push for further automation. Increasing labor costs are forcing manufacturers to automate to maintain their cost advantage. Moreover, automotive manufacturers in China predominantly operate through joint ventures. After years of consistent growth, the market is slowly maturing, with certain segments such as luxury vehicles continuing to grow. Also, the increasing adoption of collaborative robots in industries such as wood and furniture and automotive is another key trend, which has fueled the demand for robot end effectors in the region. Therefore, with the increasing demand for collaborative robots, strong growth for collaborative end effectors is expected in APAC. Hence, APAC region is expected to become a focal point for research and developments in robot end effector market and applications.

  7. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

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