South America 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 Other

South America 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 South America robot end-effector market is expected to reach US$ 300.57 million by 2028 from US$ 183.89 million in 2021. It is estimated to register a CAGR of 7.3% from 2021 to 2028. The robot end-effectors market in South America is segmented into Brazil and Argentina. Despite many economic challenges, favorable government initiatives would support the growth of various economies in the region during the forecast period. The region has the highest urbanization rate in South America, which is mainly attributed to government initiatives encouraging the growth of the industrial and technology sectors. For instance, Argentina is concentrating on attracting FDIs by taking several initiatives, such as easing import restrictions, signing international bilateral agreements, and allowing foreign investments without any restrictions. The uptake of industrial robotics in South American countries is currently nascent. However, Brazil is experiencing a higher adoption than other countries of South America. The automotive sector of Brazil is witnessing the highest uptake of industrial robotics as the country comprises manufacturing facilities of several automotive players.

In South America, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19's spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to directly impact the region's economic growth as South America is likely to face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners, such as China, Europe, and North America, in the near future. The sharp decline in the sales of the automotive and electronics industries in the region due to lockdown measures is expected to affect the growth of the robot end-effector market during the forecast period. Besides, a decline in business activities and product sales are projected to restrict the market's growth rate till mid-2021.

Based on type, the South America robot end-effector market is segmented into welding guns, clamps, grippers, suction cups, tool changers, and others. The grippers segment is expected to register the highest CAGR during the forecast period. The main function of a gripper is mainly to convert some form of power into grasping action of the robotic fingers. The power input is either supplied by pneumatic, hydraulic, or electric means. The grippers are majorly classified as mechanical grippers and non-mechanical grippers. Further, the mechanical grippers use mechanical fingers that are used to grasp the object. The fingers are also known as jaws. Similarly, the non-mechanical grippers possess the mechanical fingers used to handled specific shapes of work parts. The increasing adoption of collaborative robots owing to their benefits and features are the driving the growth of the robot end-effector market in manufacturing industries.

The South America 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 South America 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 South America robot end-effector market. The key companies operating in the market include ABB Ltd.; Festo SE & Co. KG; J. Schmalz GmbH; Kuka AG; Piab AB; Robotiq Inc.; Schunk GmbH & Co. KG and Zimmer Group.

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