PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1294701
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1294701
According to SPER Market Research, 'Robotics End of Arm Tooling Market Size - By Product type, By End-Use Industry, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Global Robotics End of Arm Tooling Market is predicted to reach USD 3.64 billion by 2033 with a CAGR of 5.04%.
The global robotics end of arm tooling market was impacted by the COVID-19 pandemic, leading to disruptions in global supply chains, including the production and distribution of EOAT components. The market experienced delays in manufacturing and delivery of EOAT products due to trade restrictions, lockdown measures, and temporary closures of factories. Moreover, the pandemic caused a decline in operations in various industries, especially in manufacturing and automotive sectors, as they were subjected to lockdowns and restrictions. This reduction in operations resulted in a decrease in demand for EOAT as industries scaled back their production and investment plans.