Robotic End of Arm Tools (EOAT) Market Outlook: Key Insights
Sales of robotic end of arm tools witnessed growth at a rate of over 8% from 2013 to 2017. In line with growing demand for industrial robots, robotic end of arm tool sales are set to witness sheer proliferation.
Adoption of robotic end of arm tools for material handling is likely to grow at a CAGR of over 5% in 2019. Material handling segment is estimated to account for over 34% value share in 2028, emerging as the most-profitable process line.
APEJ will continue to be the largest market for robotic end of arm tools (EOAT), as industrial ecosystems across developing countries of the region are vying to stay at the forefront of ‘Industry 4.0’.
Japan will emerge as the fastest-growing market for robotic end of arm tools (EOAT), as majority of the industrial units in Japan invest in automation and integration of robotic technology into their production frameworks.
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What is Driving the Robotics End of Arm Tools (EOAT) Market?
Robotic end of arm tools (EOAT) have been gaining traction as primary equipment for seamless interaction with parts & components at the end of a robotic arm. Robotic end of arm tools (EOAT) are being increasingly deployed for offering specific functionalities to robots and accommodating multiple processes in one go.
Rising use of grippers, a key robotic end of arm tool (EOAT) type, in material handling is underpinning the market growth. Reduction of part damage remains a chief aspect fuelling adoption of various types of grippers in material handling, including pneumatic grippers, servo-electric grippers, vacuum grippers, and hydraulic grippers.
Advances in robotic technologies and growing end-user demand for higher productivity levels will bolster demand for robotic end of arm tools (EOAT) as a viable proposition across a wide-range of automated applications.
Robotic end of arm tools prove to be cost-saving and also aid in boosting ROI benefits for automation equipment- two of the highly-valued aspects across end-use industries.
Various end-use industries are embracing robotic end of arm tools (EOAT) to offer greater flexibility to their existing robot lines, which ensures multi-tasking by robots by simultaneously amplifying the overall performance levels.
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What are the Challenges Faced by Manufacturers?
Robotic end of arm tools require preventive maintenance on a timely basis to ensure smooth and uninterrupted operations. Systematic care, if not undertaken on a regular basis, can lead to adverse impact on crucial aspects of these tools, such as usability and productivity. This, in turn, challenges the adoption rate and can hamper growth of robotic end of arm tools (EOAT) market.
High costs involved in developing, scaling, & manufacturing robotic end of arm tools are likely to create significant challenges for manufacturers. High costs associated with product development result in high sales price of the final products, leading to low profit margins for stakeholders in the robotic end of arm tools (EOAT) market.
Robotic End of Arm Tools (EOAT) Market: The Competitive Landscape
ATI Industrial Automation, Inc. - a leading manufacturer of robotic accessories and robot arm tooling- showcased new products and solutions at the ‘2017 Automate Show and Conference’ held at Chicago. The compact and robust designs of the new products showcased by ATI are well- aligned with the ever-evolving specifications of multiple applications and are fully compliant with safety standards. The major objective behind this participation was to branch out to business-to-business trading and tap into new customer segments.
In 2017, Piab AB- a leading manufacturer of smart solutions for automated applications- announced the strategic acquisition of US-based SAS Automation. This acquisition was aimed at venturing into the segment of ‘mechanical gripping’ and strengthening the existing product portfolio of the company, which will further make it a leading ‘one-stop’ platform for multiple gripper varieties. This acquisition of SAS Automation fits the bill of Piab’s strategy to boost its market sustenance via organic growth and through acquisition of industry leaders.
In 2019, Robotiq, a leading provider of software and tools for collaborative robotics space, inaugurated its European headquarters in Lyon, France. This expansion was aimed at boosting the production capabilities of the company in the European region, as Europe remains one of the top priorities of the company with respect to profitability. This new establishment will enable the company to seamlessly expand its regional operations and retain balance in the demand-supply equation.
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Table of Contents Covered in the report are:
1. Executive Summary
1.1. Summary of Key Findings
1.2. Summary of Statistics
1.3. Fact.MR Analysis and Recommendations
1.4. Megatrends
1.5. Opportunity Assessment
2. Installed Base and Automation Indicator
2.1. Automation adoption rate by end-user industry
2.2. Automation adoption rate by region
2.3. Top five reasons for automation
2.4. Enterprises investment for process automation
2.5. Industrial and services automation trends
2.6. EOATs installed base by region
2.7. EOATs installed base by End-use Industry
3. Risk, & Opportunities
3.1. Associated Risks
3.2. Anticipated Opportunities
3.2.1. Intrinsic Opportunities
3.2.2. Extrinsic Opportunities
4. End User Analysis and Measurement
4.1. Enterprises Spending on Robotics/Automation
4.2. Robotic End of Arm Tool adoption rate in top end-use industry
4.3. Top five Application for Automation
4.4. Improvement in Overall Business Process
4.5. Decrease in labor cost
5. Market Data - Introduction
5.1. Market Introduction
5.2. Market Definition
5.3. Market Breakdown
5.4. Megatrends in Robotic End of Arm Tools market
And Continue...
