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The global robot end-effector market was valued at US$ 3,125.59 million in 2020 and is projected to reach US$ 9,664.68 million by 2028; it is expected to grow at a CAGR of 15.6% during 2021-2028.
The market is highly fragmented with the presence of a substantial number of players in several major countries together with multiple players with a small and regional presence. These companies provide different robot end-effectors and hardware depending on the applications, including arc handling, assembly, welding, processing, and dispensing. The mounting adoption of automation across various industries for working in hazardous conditions drives the demand for robot end-effectors.