The global sales for robotic grippers witnessed a minor slowdown in the Covid-19 crisis as all the factories were closed and supply of only basic necessity goods was permitted. Since the lockdown has been lifted up to improve economic conditions, the manufacturing companies are trying hard to gain traction and attract customers globally through innovative launches, online selling and technological upliftments in 2021.
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Prominent manufacturing companies including Kuka AG, Yaskawa Electric Corporation, ABB Group, GrabitInc, Schmalz, Festo, Applied Robotics Inc., Piab AB, Soft Robotics, Inc., OnRobot A/S, Bastian Solutions, Inc., Brenton LLC., and COVAL Vacuum Technology Inc. and others are investing in the establishment of a strong distribution network to remain competitive in the market. Adoption of business strategies like research and developments, new product launches, product approvals, patents and events, joint ventures, product innovations, partnership agreements, collaborations, digital marketing, mergers and acquisitions etc continues to be on the prime attention of leading players to emerge as a recognized and profitable business firm.
- The global robotic gripper market size in 2019 is estimated to reach US 1.2 Bn.
- The robotic gripper market is anticipated to grow at a CAGR of ~ 10% during the forecast period of 2019-2029.
- The 2-Jaw grippers segment of robotic gripper is expected to remain as the most preferred product in the robotic gripper market.
- The growth of this particular segment can be primarily attributed to economical cost and wide adoption for precision manufacturing and assembly.
- East Asia is stipulated to account for more than half of the revenue shares in the robotic gripper industry by the end of 2029.
- The East Asia market is estimated to continue to be the opportunistic market for robotic gripper manufacturers and distributors, owing to increasing production and demand for robots in factory automation.
- The automotive & transportation segment is projected to continue as the prominent end-use industry in creating significant growth opportunities for the robotic gripper market players.
- Over the recent past, automated manufacturing has witnessed significant growth in the automotive industry. The increased demand for high precision work and accuracy offered by robotic grippers is expected to propel the demand for the product.
- Noteworthy application potential of robotic grippers such as assembly/disassembly, material handling, inspection, and testing are creating an upswing in the robotic gripper market.
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.
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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.
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.
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By Product Type
- 2-Jaw Grippers
- Angular & 3-Jaw Grippers
- O-Ring Grippers
- Niddle Grippers
- Vacuum Cups
- Magnetic Grippers
- Special Purpose Grippers
- Others (Electrostatic, Bellow, Toggle)
- Material Handling
- General Assembly
- Inspection & Others
By End Use
- Automotive & Transportation
- Electronics & Semiconductors
- Food & Beverages
- Chemicals & Pharmaceutical
- South Asia & Pacific
- East Asia