Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Robot End Effector Market size is expected to reach $4.2 billion by 2028, rising at a market growth of 12.6% CAGR during the forecast period.
The Welding Guns segment is showcasing a CAGR of 12.3% during (2022 - 2028). A welding gun is equipment used to complete automatic or semi-automatic metal welding operations. In GMAW (gas metal arc welding) and FCAW (flux-cored arc welding), the welding gun's main function is to direct the welding electrode toward the weld. Electrical connections, water-cooling connections, and shielding gas connections are additional connections to the cannon. The segment is growing because of the intense use of robot end effectors for precision welding applications.
The Automotive segment acquired maximum revenue share in the Global Robot End Effector Market by Vertical in 2021 thereby, achieving a market value of $809.4 million by 2028. The automotive sector is one important sector of the economy using robot technologies to increase output and product quality. Robots are being used by car manufacturers to increase average work efficiency and save warranty costs. These robots carry out spot welding, painting, assembling, and other tasks related to the automobile industry. By taking on hazardous and demanding tasks, the robots also reduce the hazards.
The Collaborative Industrial Robots segment has shown the growth rate of 14.2% during (2022 - 2028). This is because collaborative robots or cobots are now widely used, especially by small and medium-sized businesses, where they can quickly adapt to new jobs and provide a significant return on investment (ROI). Small and medium-sized businesses and major, established industries like the automotive industry are using these robots considerably. In recent years, cobots have been increasingly accepted in numerous new use cases, including remote monitoring and production.
The Handling segment is leading the Global Robot End Effector Market by Application in 2021 thereby, achieving a market value of $1.3 billion by 2028. The segment for handling applications was stimulated by technological advances in end effectors for numerous handling applications. For example, while handling an object, smart grippers are able to measure, recognize, and monitor the specific object in real time. In contrast, 3D-oriented grippers are able to handle workpieces in challenging conditions due to their design and anti-corrosion features.
The Asia Pacific market dominated the Global Robot End Effector Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.6 billion by 2028. The Europe market is exhibiting a CAGR of 11.9% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 12.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/robot-end-effector-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Ltd., ATI Industrial Automation, Inc. (Novanta, Inc.), DESTACO, Inc. (Dover Corporation), Kuka AG (Midea Investment Holding Co., Ltd.), Bastian Solutions, LLC (Toyota Advanced Logistics Group) (Toyota Industries Corporation), Piab AB (Patricia Industries)(Investor AB), Robotiq, Inc., SCHUNK GmbH & Co. KG, J. Schmalz GmbH and Zimmer Group.
By Robot Type
Unique Offerings from KBV Research
North America Robot End Effector Market Future Scope & Opportunities 2022-2028
Europe Robot End Effector Market Size & Growth Forecast 2022-2028
Asia Pacific Robot End Effector Market Size, Share & Industry Outlook to 2028
LAMEA Robot End Effector Market Growth, Trends & Forecasts 2022-2028