Robotic Grippers Market to Grow at 10.9% CAGR by 2030
The growth of the robotic grippers market is highly influenced by the emergence of smart technologies to enhance productivity and efficiency in multiple industries worldwide.
According to a new research report by Next Move Strategy Consulting, the global Robotic Grippers market was valued at $1.16 billion in 2021 and is expected to reach $3.04 billion by 2030, registering a CAGR of 10.9% during the forecast period.
Increasing adoption of robotic grippers in multiple industries owing to benefits such as better flexibility and functionality drives the market growth. A number of industries, including automotive, electronics, food & beverage, and others, are increasing their focus on industrial robots and automation to increase efficiency, streamline processes, and maximize output.
An industrial setting utilizes robotic grippers for many tasks, such as material handling, packaging, securing, and shorting. Further, the compact size and cost-effectiveness of collaborative robots are driving their popularity in small industries. Collaborative robots come with robotic grippers to increase efficiency and productivity, as they are designed to work alongside human workers in industrial settings.
In contrast, the lack of skilled labor to operate robotic grippers and integration issues associated with specialized robotic grippers hinder the market growth. However, robotic gripper producers have responded to these concerns by developing plug-and-play technology to overcome interoperability problems. Moreover, the growing demand for electric grippers in various industries will boost the growth of the robotic grippers market.
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According to the report, the leading players in the robotic grippers market are Schunk GmbH & Co. KG, Festo, Kuka AG, Piab AB, Destaco, Schmalz, ABB Ltd., AFAG, OnRobot A/S, PHD Inc., and many others.
Key Insights from the Robotic Gripper Market Report:
The information related to key drivers, restraints, and opportunities and their impacts on the robotic grippers market is provided in the report.
Value chain analysis of the market study provides a clear picture of the stakeholders’ roles.
The shares of the players in the global robotic grippers market, along with their competitive analyses, are included in the study.