Global Robotics End-of-arm Tooling Market is expected to reach at $2415.77 million by 2023

Publisher: QYResearch

Published Date: 2018/10/24

A robot’s end of arm tool (EOAT) is selected based on the operation it will perform and is specific to the part or tool that it manipulates. End of arm tooling are devices by which a robot interrelates with other machines around it, conducting, clutching, and operating on various parts. An end-effector is one of the prime parts and an important component of the robotic system.

The Robotics End-of-arm Tooling market has witnessed significant growth in the past few years, and is expected to maintain this trend during the forecast period. The global Robotics End-of-arm Tooling Market size was valued at $1584.48 million in 2017, and is expected to reach at $2415.77 million by 2023, growing at a CAGR of 7.99% from 2018 to 2023.

By industry vertical, the robotics end of arm tooling market is segmented into semiconductor & electronics, automotive, pharmaceuticals, food & beverage, industrial machinery, logistics and others. Automotive industry is likely to hold majority of the market share of the robotics end of arm tooling market by the end of the forecast period (31.63% in 2017). Automation in factories along with need to increase the production capacity of factories is expected to drive the growth of this segment over the forecast period. Food & beverage is the most attractive market owing to the rise in usage of robots to increase the production capacity and efficiency.

The world leading players in the Robotics End-of-arm Tooling market are Schunk, Festo, SMC, Robotiq, Zimmer, Destaco, ATI Industrial Automation, EMI, IAI, Applied Robotics, Schmalz, RAD, FIPA, SAS Automation, Bastian Solutions, Soft Robotics, Grabit and so on. These Top companies currently account for more than 80% of the total market share and are expected to retain their dominating hold over the market during the forecast period.

One of the major drivers for this market is growth in popularity of cobots. Traditionally, industrial robots used in packaging applications were kept behind barriers or cages to prevent contact from humans by accident. To ensure safety, multiple safety measures regulate the use of these robots, such as restricting their motion to the human-free territory with safety interlocks that halt the robot's movements when humans enter those zones. On the other hand, one of the major factors hindering the growth of this market is high initial cost of robotic implementation.

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