The robot end-effector market is expected to grow from US$2.6 billion in 2019 to US$45.7 billion by 2024, at a CAGR of 16.9 percent during the forecast period, according to research firm MarketsandMarkets, mainly due to the fast-changing nature of industries today.
For example, in the packaging segment, the shape, size, surface, or weight of the packaging is constantly changing, thereby shortening the lifecycle of an end-effector to one to two years, and thus increasing the cost of replacement for a company. Modular end-effectors have the capability to accommodate and handle a large variety of objects as required. Hence, the growing demand for modular end-effectors is one of the key factors driving market growth.
Until 2017, welding guns dominated the robot-effector market. However, from 2018 onward, grippers have the largest share owing to the growing popularity of electric grippers, collaborative grippers, soft grippers, and customised grippers. The report expects this trend to continue moving forward, mainly because of the fully programmable feature of the electric gripper. When programmed intelligently around the states of operation, they can reduce cycle time by a considerable amount. Because of their programmable nature, they can also be calibrated for the use of three fingers or more, and can be fitted with different fingertips.
The Asia-Pacific (APAC) region is expected to dominate the robot end-effector market during the forecast period, mainly driven by increasing investment in automation by the automotive, and electrical and electronics players, especially in countries such as China, South Korea, and India. The increasing adoption of collaborative modular robots by manufacturers has also elevated the demand for modular robotics in APAC.
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