Current Robot End Effector Market Size and Forecast (2021-2026)


Posted July 13, 2022 by ctom7000

Automotive industry is estimated to account for the largest share of the robot end effector market throughout the forecast period
 
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.

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.

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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.

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.

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.
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Issued By Tom
Country United Kingdom
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Tags robot end effector market
Last Updated July 13, 2022