Report : North 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 Grippers Segment to Dominate North America Robot End-Effector Market during 2021-2028
According to a new market research study on “North America Robot End-Effector Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, Industry and Country,” is expected to reach US$ 1,419.74 million by 2028 from US$ 612.83 million in 2021. The market is estimated to grow at a CAGR of 12.8% from 2021 to 2028. The report provides trends prevailing in the North America robot end-effector market along with the drivers and restraints pertaining to the market growth. Growth in industrial robotics, and surge in adoption of cobots are major factors driving the growth of the North America robot end-effector market. However, high capital required for initial deployment of robot end-effectors may hinder the growth of North America robot end-effector market.
North America is one of the most important regions for adopting and developing new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the region's economic growth negatively. COVID-19 has negatively impacted businesses in the region in four critical areas, such as supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs, including expenses for sales, Research & Development (R&D), and administration of various providers fell adversely, due to severe measures taken in the course of the pandemic. Despite the effects of the North America outbreak, earnings were improved, primarily due to continuous optimization of the cost structure. COVID-19 has had a severe impact on transportation and automotive, and trade activity. North America is home to a large number of manufacturing and technology companies. Thus, the coronavirus outbreak's impact was quite severe in 2020 and likely in 2021 for the automotive and manufacturing sectors. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.
The market for North America robot end-effector is segmented into type, application, industry and country. Based on type, the market is segmented into welding guns, clamps, grippers, suction cups, tool changers, and others. In 2020, the grippers segment held the largest share in North America robot end-effector market. Based on application, the North America robot end-effector market is divided into handling, assembly, welding, processing, dispensing, and others. The welding segment is expected to be the fastest growing segment over the forecast period. Based on industry, the market is segmented into automotive, metals and machinery, electrical and electronics, food and beverages, and others. In 2020, the automotive segment held the largest share in North America robot end-effector market. Based on country, the North America robot end-effector market is segmented into US, Canada and Mexico. In 2020, US held the largest share in North America robot end-effector market. Furthermore, in this present scenario of COVID 19 pandemic, the North America robot end-effector market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for robot end-effector.
ABB Ltd.; ATI Industrial Automation, Inc.; Destaco (Dover Corporation); Festo SE & Co. KG; J. Schmalz GmbH; Kuka AG; Piab AB; Robotiq Inc.; Schunk GmbH & Co. KG and Zimmer Group are some of the leading companies in the North America robot end-effector market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
North America Robot End-Effector Market, By Country, 2020 and 2028 (%)
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com