Compact Electric Gripper Market
Compact Electric Gripper Market Forecasts to 2030 - Global Analysis By Type (6 mm, 12 mm and Other Types), Application (Aerospace, Packaging, Automotive, Electronics and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $522.7 MN |
|
Projected Year Value (2030) |
US $867.3 MN |
|
CAGR (2023 - 2030) |
7.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Compact Electric Gripper Market is accounted for $522.7 million in 2023 and is expected to reach $867.3 million by 2030 growing at a CAGR of 7.5% during the forecast period. A compact electric gripper is a type of robot end-effectors that is utilized in various manufacturing processes, including material handling, assembly, machining, and packing, to grasp or handle small objects. Compact electric grippers have a longer lifespan and require less maintenance. Compact electric grippers provide precise control over gripping force, position, and speed, ensuring accurate handling of objects.
Market Dynamics:
Driver:
Energy efficiency
Energy efficiency is a significant driver in the compact electric gripper market, with a growing emphasis on sustainability and reduced energy consumption in industrial and manufacturing processes. The purpose of compact electric grinders is to minimize energy consumption while in use. Since lowering energy consumption in industrial processes results in a smaller carbon footprint and lower greenhouse gas emissions, energy-efficient grippers also support global sustainability goals. Companies are increasingly adopting sustainable practices as part of their corporate social responsibility initiatives, which, in turn, boosts the demand for energy-efficient automation components like compact electric grippers.
Restraint:
High cost
Compact electric grippers are equipped with advanced technology, including electric motors, sensors, and control systems, which increases their production cost. The initial costs are further increased by the fact that the integration of these grippers into current automation systems frequently necessitates additional hardware, programming, and customization investments. Moreover, the need for skilled technicians to install and maintain these systems can also contribute to higher costs. Compact electric grippers can be too expensive initially for smaller companies or applications with tighter budgets. Therefore, the high initial cost is a significant barrier to market expansion.
Opportunity:
Technological advancements
Compact electric grippers have become more durable, adaptable, and lightweight as a result of advancements in material science and design. Improved performance, increased reliability, and less maintenance are benefits of using advanced materials like lightweight alloys and composites. Additionally, currently available small electric grippers have advanced feedback and sensing mechanisms. These systems enable precise and adaptive gripping by incorporating technologies such as force and tactile sensors. They make the gripper more suitable for a wider range of applications by detecting variations in object size, shape, and fragility. These factors propel market demand.
Threat:
Lack of skilled workers
A significant barrier to the efficient adoption and growth of compact electric grippers is the lack of skilled workers in the market. The scarcity of individuals with the required expertise in electromechanical systems, control systems, and robotics can lead to various challenges. Due to the difficulty in locating qualified personnel, it may initially lead to longer lead times for the deployment of gripper-based automation solutions. Additionally, inadequate personnel can also result in inadequate system performance and a higher chance of downtime from faulty maintenance or ineffective troubleshooting, which is hindering market growth.
Covid-19 Impact
Compact electric gripper suppliers and manufacturers faced difficulties in the early stages of the pandemic due to disruptions in the global supply chain, particularly in areas heavily impacted by the virus. Additionally, due to these issues, delivery and production were delayed. Lockdowns and a decline in demand caused many industries that use compact electric grippers, such as the aerospace and automotive industries, to experience decreased activity or even temporary shutdowns. As a result, grippers and other automation-related components became less popular.
The 6 mm segment is expected to be the largest during the forecast period
The 6 mm segment is estimated to hold the largest share. A specialized version of compact electric grippers made to meet the needs of particular industrial and precision handling applications is the 6 mm compact electric gripper. The capacity to hold and control objects with a diameter or thickness of about 6 mm is the feature that makes this gripper unique. Because of its high levels of precision, repeatability, and control, it's perfect for jobs requiring fine motor skills in manufacturing, assembly, and lab environments.
The automotive segment is expected to have the highest CAGR during the forecast period
The automotive segment is anticipated to have lucrative growth during the forecast period. These grippers are essential to the automotive industry as they handle different parts of the assembly, manufacturing, and quality control processes. They work on assembly lines, picking and positioning parts, handling and positioning parts for welding or fastening, and installing parts like dashboards, seats, and doors. For the precise alignment and assembly of intricate automotive parts, their accuracy and versatility are crucial.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to its advanced manufacturing landscape, a focus on industrial automation, and technological innovation. The manufacturing industry in North America is strong and diverse, encompassing industries like electronics, automotive, aerospace, and healthcare. Compact electric grippers are among the automation solutions that these industries mainly rely on to increase efficiency, accuracy, and productivity. North American industries have been leading the way in adopting these advanced automation component-based principles.
Region with highest CAGR:
Asia Pacific is expected to witness profitable growth over the projection period. The automotive industry in countries like South Korea and Japan, which focuses on improving production accuracy and efficiency, is the primary force behind the adoption of compact electric grippers. China is a major player in this market as a manufacturing powerhouse, and both local and foreign manufacturers use small electric grippers to improve their production processes. The market for compact electric grippers is expected to grow as a result of industries investing in automation solutions during the robust economic growth seen in the Asia-Pacific region.
Key players in the market
Some of the key players in the Compact Electric Gripper Market include Schunk, Parker Hannifin, SanGo Automation, Gimatic, IAI, Festo, Destaco, SMC, Yamaha Motor, Hiwin, Zimmer and Jodell Robotics.
Key Developments:
In July 2023, Schunk is proud to announce a partnership with READY Robotics to develop the Automation Explorer simulation tool. As automation technology advances, simulation technology must progress further to support specification, deployment, and re-deployment of automated systems.
In Nov 2022, Yamaha Motor Co. and Arthur D. Little Japan, Inc. have started a collaboration to study the application of a new financing scheme, ""Social Impact Bonds (hereinafter ""SIBs""),"" to implement a sustainable mobility society.
Types Covered:
• 6 mm
• 12 mm
• Other Types
Applications Covered:
• Aerospace
• Packaging
• Automotive
• Electronics
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Compact Electric Gripper Market, By Type
5.1 Introduction
5.2 6 mm
5.3 12 mm
5.4 Other Types
6 Global Compact Electric Gripper Market, By Application
6.1 Introduction
6.2 Aerospace
6.3 Packaging
6.4 Automotive
6.5 Electronics
6.6 Other Applications
7 Global Compact Electric Gripper Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Schunk
9.2 Parker Hannifin
9.3 SanGo Automation
9.4 Gimatic
9.5 IAI
9.6 Festo
9.7 Destaco
9.8 SMC
9.9 Yamaha Motor
9.10 Hiwin
9.11 Zimmer
9.12 Jodell Robotics
List of Tables
1 Global Compact Electric Gripper Market Outlook, By Region (2021-2030) ($MN)
2 Global Compact Electric Gripper Market Outlook, By Type (2021-2030) ($MN)
3 Global Compact Electric Gripper Market Outlook, By 6 mm (2021-2030) ($MN)
4 Global Compact Electric Gripper Market Outlook, By 12 mm (2021-2030) ($MN)
5 Global Compact Electric Gripper Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Compact Electric Gripper Market Outlook, By Application (2021-2030) ($MN)
7 Global Compact Electric Gripper Market Outlook, By Aerospace (2021-2030) ($MN)
8 Global Compact Electric Gripper Market Outlook, By Packaging (2021-2030) ($MN)
9 Global Compact Electric Gripper Market Outlook, By Automotive (2021-2030) ($MN)
10 Global Compact Electric Gripper Market Outlook, By Electronics (2021-2030) ($MN)
11 Global Compact Electric Gripper Market Outlook, By Other Applications (2021-2030) ($MN)
12 North America Compact Electric Gripper Market Outlook, By Country (2021-2030) ($MN)
13 North America Compact Electric Gripper Market Outlook, By Type (2021-2030) ($MN)
14 North America Compact Electric Gripper Market Outlook, By 6 mm (2021-2030) ($MN)
15 North America Compact Electric Gripper Market Outlook, By 12 mm (2021-2030) ($MN)
16 North America Compact Electric Gripper Market Outlook, By Other Types (2021-2030) ($MN)
17 North America Compact Electric Gripper Market Outlook, By Application (2021-2030) ($MN)
18 North America Compact Electric Gripper Market Outlook, By Aerospace (2021-2030) ($MN)
19 North America Compact Electric Gripper Market Outlook, By Packaging (2021-2030) ($MN)
20 North America Compact Electric Gripper Market Outlook, By Automotive (2021-2030) ($MN)
21 North America Compact Electric Gripper Market Outlook, By Electronics (2021-2030) ($MN)
22 North America Compact Electric Gripper Market Outlook, By Other Applications (2021-2030) ($MN)
23 Europe Compact Electric Gripper Market Outlook, By Country (2021-2030) ($MN)
24 Europe Compact Electric Gripper Market Outlook, By Type (2021-2030) ($MN)
25 Europe Compact Electric Gripper Market Outlook, By 6 mm (2021-2030) ($MN)
26 Europe Compact Electric Gripper Market Outlook, By 12 mm (2021-2030) ($MN)
27 Europe Compact Electric Gripper Market Outlook, By Other Types (2021-2030) ($MN)
28 Europe Compact Electric Gripper Market Outlook, By Application (2021-2030) ($MN)
29 Europe Compact Electric Gripper Market Outlook, By Aerospace (2021-2030) ($MN)
30 Europe Compact Electric Gripper Market Outlook, By Packaging (2021-2030) ($MN)
31 Europe Compact Electric Gripper Market Outlook, By Automotive (2021-2030) ($MN)
32 Europe Compact Electric Gripper Market Outlook, By Electronics (2021-2030) ($MN)
33 Europe Compact Electric Gripper Market Outlook, By Other Applications (2021-2030) ($MN)
34 Asia Pacific Compact Electric Gripper Market Outlook, By Country (2021-2030) ($MN)
35 Asia Pacific Compact Electric Gripper Market Outlook, By Type (2021-2030) ($MN)
36 Asia Pacific Compact Electric Gripper Market Outlook, By 6 mm (2021-2030) ($MN)
37 Asia Pacific Compact Electric Gripper Market Outlook, By 12 mm (2021-2030) ($MN)
38 Asia Pacific Compact Electric Gripper Market Outlook, By Other Types (2021-2030) ($MN)
39 Asia Pacific Compact Electric Gripper Market Outlook, By Application (2021-2030) ($MN)
40 Asia Pacific Compact Electric Gripper Market Outlook, By Aerospace (2021-2030) ($MN)
41 Asia Pacific Compact Electric Gripper Market Outlook, By Packaging (2021-2030) ($MN)
42 Asia Pacific Compact Electric Gripper Market Outlook, By Automotive (2021-2030) ($MN)
43 Asia Pacific Compact Electric Gripper Market Outlook, By Electronics (2021-2030) ($MN)
44 Asia Pacific Compact Electric Gripper Market Outlook, By Other Applications (2021-2030) ($MN)
45 South America Compact Electric Gripper Market Outlook, By Country (2021-2030) ($MN)
46 South America Compact Electric Gripper Market Outlook, By Type (2021-2030) ($MN)
47 South America Compact Electric Gripper Market Outlook, By 6 mm (2021-2030) ($MN)
48 South America Compact Electric Gripper Market Outlook, By 12 mm (2021-2030) ($MN)
49 South America Compact Electric Gripper Market Outlook, By Other Types (2021-2030) ($MN)
50 South America Compact Electric Gripper Market Outlook, By Application (2021-2030) ($MN)
51 South America Compact Electric Gripper Market Outlook, By Aerospace (2021-2030) ($MN)
52 South America Compact Electric Gripper Market Outlook, By Packaging (2021-2030) ($MN)
53 South America Compact Electric Gripper Market Outlook, By Automotive (2021-2030) ($MN)
54 South America Compact Electric Gripper Market Outlook, By Electronics (2021-2030) ($MN)
55 South America Compact Electric Gripper Market Outlook, By Other Applications (2021-2030) ($MN)
56 Middle East & Africa Compact Electric Gripper Market Outlook, By Country (2021-2030) ($MN)
57 Middle East & Africa Compact Electric Gripper Market Outlook, By Type (2021-2030) ($MN)
58 Middle East & Africa Compact Electric Gripper Market Outlook, By 6 mm (2021-2030) ($MN)
59 Middle East & Africa Compact Electric Gripper Market Outlook, By 12 mm (2021-2030) ($MN)
60 Middle East & Africa Compact Electric Gripper Market Outlook, By Other Types (2021-2030) ($MN)
61 Middle East & Africa Compact Electric Gripper Market Outlook, By Application (2021-2030) ($MN)
62 Middle East & Africa Compact Electric Gripper Market Outlook, By Aerospace (2021-2030) ($MN)
63 Middle East & Africa Compact Electric Gripper Market Outlook, By Packaging (2021-2030) ($MN)
64 Middle East & Africa Compact Electric Gripper Market Outlook, By Automotive (2021-2030) ($MN)
65 Middle East & Africa Compact Electric Gripper Market Outlook, By Electronics (2021-2030) ($MN)
66 Middle East & Africa Compact Electric Gripper Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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