A new market research study by Future Market Insights on the robotic gripper market contains global industry analysis 2014-2018 and opportunity assessment 2019-2029. The report investigates the robotic gripper market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global robotic gripper market is anticipated to experience substantial growth over the forecast period, due to multiple driving factors such as, use of smart materials for enhanced capabilities and growing horizon of applications along with increased number of end-use industries.
The global robotic gripper market was valued at ~ US$ 1 Bn in 2018 and is projected to increase at a CAGR of ~ 10% between the forecast period of 2019 and 2029. This growth is significantly driven upsurge in the automotive and electronic & semiconductor industry, introduction of specific gripper portfolio, and rise in the robotic automation in specific regions such as East Asia.
Owing to the rapid growth of factory automation in East Asia and other nations including Singapore, Malaysia, and more, the demand for robotic grippers is expected to grow at an impressive pace. According to the FMI analysis, the onset of Industry 4.0 is further expected to increase the adoption of robotic grippers in smart factories.
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Surplus Growing Opportunities in the East Asia Market
Japan being one of the significant countries in robotic automation is expected to show upsurge in the robotic gripper market. South Korea has a high number of robot-10,000 employee ratio, in which China is expected to register a high growth rate in recent years, owing to high labor costs and increased automation. These countries have a major share in the global robotic gripper market, hence East Asia is expected to generate substantial growth opportunities for the robotic gripper market.
Use of Innovative Smart Materials to Surge the Market Growth
The global robotic gripper market has been segmented based on the different types of grippers, multiple jaw types, their multiple operations, different segments of applications, end use industry and regions such as Americas, EMEA (Europe, Middle East and Africa), SAP (South Asia Pacific) and East Asia.
- Robotic gripper technology has been incessantly growing in the recent years, consecutively growing the robotic gripper market. Use of smart materials to make more adaptive and flexible grippers is taking place. More advancement is expected to happen in electric and pneumatic grippers which will help the robotic gripper market growth exponentially.
- With respect to application robotic gripper market is expected to show a large growth in material handling segment as it is prominently used in end use industry. Followed by general assembly segment which is projected to have a fair share in the market growth.
- Automotive industry is one of the significant drivers of the robotic gripper market followed by electronics and semiconductors industry. Availability of vast gripper range which are application specific in nature enhance the precision and speed requirement in these industries.
Robotic Gripper Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global robotic gripper market. Few examples of key players in the market are Soft Robotics, Inc., Piab AB, Applied Robotics, ABB Limited, Grabit Inc., Yaskawa America Inc., J. Schmalz GmbH, Festo AG & Co. KG, Onrobot, Bastian Solutions, COVAL VACUUM TECHNOLOGY Inc., and Brenton Engineering, among others. The global robotic gripper market players are primarily focusing on development of product, such as flexible robotic gripper, electrostatic robotic gripper, and vacuum robotic gripper, that can react more and more similar to human arm and has a wide range of payload capacity for different end use industries in order to gain greater share in the robotic gripper market.