The robotic grippers market is estimated to secure a valuation of USD 1.7 Billion in 2023 and is projected to reach USD 4.3 Billion by 2033. The market is estimated to thrive at a CAGR of 9.4% during the forecast period.
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Key Takeaways
- Historically, the market captured a valuation of USD 1 Billion in 2018.
- The United States is anticipated to secure a CAGR of 45.3% in the global market during the forecast period.
- India is estimated to predict a CAGR of 4.0% during the forecast period.
- With a CAGR of 1.2%, Japan is significantly fueling the global market by 2033.
Which Strategies are Helping Key Players in the Global Market?
The strategies in the global market are as follows:
- Focus on Sustainability: The key companies are developing environment-friendly and sustainable products. Their focus on sustainability improves product quality and attracts end-users. This step is estimated to increase the demand for high-quality and advanced robotics grippers.
- Strong Distribution Channel: The key players maintain their strong network to reach relevant consumers and increase brand value and product sales.
- Strategic Partnerships: The companies are partnering with other essential players to expand their business and stay ahead of competitors in the market.
- Technological Advancements: The key players are innovating products by adopting advanced technologies. Such as cutting-edge, artificial intelligence, and others. Through these technologies, they make excellent, high-quality products to fulfill consumers’ requirements.
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Recent Developments in the Market are:
- In 2021, OnRobot announced its new launch of the electric vacuum gripper VGP20. This gripper was designed to provide high-speed packaging with its customized vacuum feature.
- In 2021, Zimmer Group announced its new gripper, GEP4000. The gripper is designed for heavy loads and provides high gripping force in the manufacturing and automotive sectors.
Prominent players in the robotic gripper market:
- SCHUNK GmbH & Co. KG
- 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.
- Brenton Engineering
- Kuka Roboter GmbH
- Destaco
Robotic Gripper Market Segmentation:
By Product Type:
- Jaw Gripers
- Angular & 3-jaw Grippers
- Ring Grippers
- Needle Grippers
- Vacuum Cups
- Magnetic Grippers
- Special Purpose Grippers
- Others
By Application:
- Material Handling
- General Assembly
- Inspection & Others
By End Use:
- Automotive & Transportation
- Electronics & Semiconductors
- Food & Beverages
- Chemicals & Pharmaceutical
- Logistics
- Healthcare
- Others
By Region:
- North America
- Europe
- Latin America
- Asia Pacific
- The Middle East and Africa