The global electric gripper market is poised for substantial growth from 2023 to 2031, driven by the expansion in manufacturing and packaging sectors. In 2022, the industry was valued at US$ 486.3 million, and it is estimated to witness a notable Compound Annual Growth Rate (CAGR) of 5.5%, reaching a projected value of US$ 784.3 million by the end of 2031.
Market Size and Growth
The electric gripper market is experiencing a surge in demand, primarily due to the affordability of grippers capable of handling various objects, regardless of their position. Grippers offering an extensive grip force range and fast response times are gaining popularity, contributing to the overall growth of the global electric gripper industry.
Gain deeper insights into the electric gripper market by requesting a sample copy of the comprehensive market research report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=79601
Market Segmentation
By Service Type: The market segmentation encompasses various service types, with adaptive robotic grippers integrated with Artificial Intelligence gaining prominence. Innovative gripping and mobility technologies are key factors driving market share for electric gripper manufacturers.
By Sourcing Type: Manufacturers in the electric gripper market are introducing cutting-edge technologies to enhance their product portfolios and global reach. Collaboration among electric gripper companies is becoming a trend to broaden offerings and strengthen market presence.
By Application: The application of electric grippers spans across automated production lines, where the need for gripping complex workpieces is met by innovative solutions. The surge in the adoption of industrial 4.0 is creating lucrative opportunities for electric gripper vendors.
By Industry Vertical: Electric grippers find applications across diverse industry verticals, including manufacturing, packaging, and robotics. The rise in penetration of robotic technologies in manufacturing is a key driver for market growth.
By Region: Regional analysis is crucial in understanding the dynamics of the electric gripper market. Notable regions contributing to market growth include Asia-Pacific, North America, and Europe, where manufacturing and industrial automation are on the rise.
Regional Analysis
The global footprint of the electric gripper market showcases significant growth in Asia-Pacific, driven by the rapid expansion of manufacturing activities. North America and Europe are also witnessing substantial developments, propelled by advancements in industrial automation and the adoption of electric grippers.
Market Drivers and Challenges
Market Drivers
- Expansion in Manufacturing and Packaging Sectors: The growth in these sectors is a primary driver of the electric gripper market, creating demand for innovative and efficient gripping solutions.
- Rise in Adoption of Industrial 4.0: The integration of industrial 4.0 technologies is offering lucrative opportunities for electric gripper vendors to enhance automation processes.
Market Challenges
- Technological Advancements: The constant evolution of technology poses challenges for manufacturers to stay competitive and integrate the latest innovations into their electric gripper offerings.
- Market Collaboration: While collaboration among companies is a trend, it also presents challenges in terms of strategic alignment and competition.
For a detailed understanding of the report’s contents and structure, request the Table of Contents (TOC) of the market research report: https://www.transparencymarketresearch.com/sample/sample.php?flag=TOC&rep_id=79601
Market Trends
Integration of Artificial Intelligence
Key electric gripper manufacturers are integrating Artificial Intelligence into their products to enhance adaptability and performance. This trend is aligned with the broader shift towards intelligent automation in the manufacturing sector.
Future Outlook
The electric gripper market is set for a promising future, driven by the continuous innovation in gripping technologies and the increasing adoption of automation in various industries. As manufacturers focus on enhancing product capabilities and collaborating to expand their market presence, the outlook for the electric gripper market remains positive.
Key Market Study Points
- Affordable and Versatile Grippers: Affordable grippers capable of handling diverse objects and versatile enough to accommodate various positions are gaining traction in the market.
- Adaptive Robotic Grippers: Manufacturers are emphasizing adaptive robotic grippers integrated with Artificial Intelligence to meet evolving customer demands and stay competitive.
Competitive Landscape
The electric gripper market is characterized by intense competition among key players. Companies such as Applied Robotics Inc., DESTACO, Festo Corporation, and SMC Corporation of America are at the forefront of technological innovation and market leadership.
Recent Developments
- DH-Robotics Industrial Flat Electric Gripper: Launched in December 2022, the PGHL series addresses the need for gripping complex workpieces in automated production lines.
- Oriental Motor’s EH3-AZAKH Electric Gripper: Expanded in October 2022, this smaller and lighter gripper offers enhanced efficiency and is a testament to the continuous advancements in electric gripper technologies.
- Applied Robotics and The Effecto Group’s New Range: Introduced in May 2022, the new range of electric grippers focuses on solving automation challenges without the need for air, emphasizing precision and reliability.
Top Market Research Reports:
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453