Asia Pacific Robot End-Effector Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Welding Guns, Clamps, Grippers, Suction Cups, Tool Changers, and Others), Application (Handling, Assembly, Welding, Processing, Dispensing, and Others

Asia Pacific Robot End-Effector Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Welding Guns, Clamps, Grippers, Suction Cups, Tool Changers, and Others), Application (Handling, Assembly, Welding, Processing, Dispensing, and Others), and Industry (Automotive, Metals and Machinery, Electrical and Electronics, Food and Beverages, and Others)

The Asia Pacific robot end-effector market is expected to reach US$ 5,055.60 million by 2028 from US$ 1,671.84 million in 2021. It is estimated to register a CAGR of 17.1% from 2021 to 2028. Due to the noteworthy development of robot deployments from 2013 to 2016, the density rate grew from 25 units in 2013 to 68 units in 2016, as per the IFR study. China made it into the world's top 10 widely automated nations in 2020 with its government's support. Hence, its robot density rose to ~150 units in the previous year. Over the years, the manufacturing spending of Asia Pacific has grown substantially and is further projected to grow at the highest growth rate. This dramatic growth in the production expenditure and the uptake of novel technologies are the key factors driving the demand for robot end-effectors. Besides, the demand for consumer electronic products—which is majorly driven by price deflation, rise in disposable incomes, and increase in innovation, particularly in the emerging Asian markets—is anticipated to encourage the manufacturing industries in the region to adopt newer technologies to synchronize with the consumer expectations. The increase in the aging population of Asia Pacific countries, especially in China and Japan, is fueling the demand for robot end-effectors in the region. Asia Pacific is characterized by a large number of developing countries, a positive economic outlook, high industrial presence, huge population, and rising disposable income. These factors have made Asia Pacific a key growth driving region for various markets, including the robot end-effector market. The lockdown of various factories in China affected the supply chains, negatively affecting manufacturing, delivery schedules, and a number of products and services.

Even as the factories in China are beginning to reopen, several logistics businesses have reduced or hit pause on their operations; thus, some cargo terminals shut down due to low volume. In the healthcare sector, robots witnessed a slight growth during the pandemic. For instance, HCARD, a robotic device, helped frontline healthcare workers to maintain physical distance from those infected by COVID-19 in India.

Based on application, the Asia Pacific robot end-effector market is segmented into handling, assembly, welding, processing, dispensing, and others. The welding segment is expected to register the highest CAGR during the forecast period. Robot welding is commonly used for resistance spot welding and arc welding in high production applications, such as the automotive industry. Robot welding is a relatively new application of robotics. Welding guns/torches have become very efficient end-effectors that can be controlled in a sophisticated way for optimized welding. Moreover, the development of automated arc welding solutions continues to be driven by the requirement for higher product quality, productivity, and reduced costs.

The Asia Pacific robot end-effector market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information about the market. The process also serves the purpose of obtaining an overview and forecast of the Asia Pacific robot end-effector market with respect to all the segments. Moreover, multiple primary interviews have been conducted with industry participants to validate data and gain more analytical insights into the topic. The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Asia Pacific robot end-effector market. The key companies operating in the market include ABB Ltd.; Destaco (Dover Corporation); Festo SE & Co. KG; J. Schmalz GmbH; Kuka AG; Piab AB; Robotiq Inc.; Schunk GmbH & Co. KG and Zimmer Group.

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