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

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
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • 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
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances