The robot end-effector market is
expected to grow from USD 2.6 billion in 2019 to USD 5.7 billion by
2024, at a CAGR of 16.9% during the forecast period. The increase in the
adoption of modular end-effectors is one of the key factors driving the
growth of the robot end-effector market. Apart from this, growing
awareness about benefits and features of collaborative robots (cobots)
is also a key factor fueling the market growth.
Additive
manufacturing or 3D printing is becoming more widespread throughout the
industry, whether it be building prototypes or making the final
product. Additive manufacturing allows low-volume, customized parts to
be fabricated at a lower cost. This technology will have a large impact
on the industry by enabling a leaner manufacturing process. Adoption of
3D printing helps in reducing the cost of the end-effector. With the use
of proper materials, end-effectors manufactured using 3D printing are
more flexible and strong enough for its intended purpose.
EMI
(US) has been producing gripper parts from various materials such as
nylon and composites to deliver custom end-effectors to its clients.
Parts such as gripper fingers and mounting interfaces can be
custom-made, and lead times can be drastically reduced when compared to
machined parts. So, the adoption of 3D printing technology to
manufacture fingers of robot grippers is a key trend observed in the
market, which would fuel the growth of the 3D printing market and the
robot end-effector market.
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The robot end-effector market for processing application is expected to grow at a significant rate between 2019 and 2024
The
growing adoption of industrial robots in food & beverages,
plastics, rubber, and chemicals industries for automatization of the
processing task is the key factor expected to propel the growth of the
robot end-effector market for processing application during the forecast
period. Hence, along with handling function, players may consider
catering to this application for gathering high revenues and
strengthening their position in the robot end-effector market.
The
robot end-effector market for the food & beverages industry is
expected to grow at the highest CAGR during the forecast period
Currently,
secondary or end-of-line packaging and palletizing are the most common
operations where end-effectors have seen the bulk of growth in the food
& beverages industry, as there is less chance for contamination, and
food grade components are not mandatory. Soft grippers have shown
promising results that are relevant for the food industry. Unlike
traditional grippers that are made of rigid materials, these end
effectors are fabricated from soft and flexible components. Fruits or
vegetables have varying sizes which makes soft grippers ideal due to
their consistent clamping force irrespective of slight differences in
size and shape. Hence, by investing in the development of soft grippers
specifically for food & beverages can help the market players to
broaden their revenue stream during the forecast period.
The market in APAC is expected to grow at the highest CAGR during 2019–2024
This
growth can be attributed to the increasing demand for robot
end-effectors in China, Japan, and South Korea, mainly for industries
such as food & beverages and e-commerce. Because of technological
and economic advancements, overall demand for robot end-effectors is
expected to increase across the aforementioned countries. Furthermore,
government initiatives to strengthen the robotics industry in China and
Japan are expected to fuel the growth of the robot end-effector market
in APAC during the forecast period. Players in the robot end-effectors
market may gather more revenue from APAC region if they start partnering
with food & beverages and e-commerce companies in the region.
