Portland, OR, Aug. 19, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global robot end effector market was pegged at $3.26 billion in 2020, and is expected to reach $15.62 billion by 2030, growing at CAGR of 16.9% from 2021 to 2030.
Rise in applications of collaborative robots and adoption of automation in manufacturing industries have boosted the growth of the global robot end effector market. However, high cost of the robots hinders the market growth. On the contrary, integration of internet of things is expected to create lucrative opportunities for the market players in the future.
Covid-19 scenario:
- The Covid-19 outbreak affected the manufacturing of robotic systems during the first and second quarter of 2020. The strict lockdown regulations imposed by government disrupted the supply chain and increased the raw material prices.
- However, the rise in adoption of touchless operations in industries such as food & beverage, automotive, and electronics increased the demand for robot end effector.
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The report segments the global robot end effector market on the basis of analysis type, application, end-user industry, and region.
Based on analysis type, the grippers segment held the largest share in 2020, accounting for more than two-fifths of the market. However, the sensors segment is estimated to register the highest CAGR of 18.0% during the forecast period.
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On the basis of application, the handling segment dominated the market in 2020, contributing to more than two-fifths of the market. However, the assembling segment is projected to manifest the highest CAGR of 17.8% during the forecast period.
The global robot end effector market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than three-fifths of the market. However, the market across LAMEA is expected to portray the highest CAGR of 17.9% from 2021 to 2030.
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Leading Players:
The global robot end effector market includes an in-depth analysis of the prime market players such as ABB, Kuka AG, Destaco (Dover Corporation), Piab AB, Millibar, Inc., Toyota Industries Corporation (Bastian Solutions, LLC), Robotiq, Schmalz, Zimmer Group., and Weiss Robotics GmbH & Co. KG.
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