Electric Grippers Market: Overview
The role of electric grippers has risen in end-of-the-arm tooling and automation applications. End users in the electric grippers market are wide and diverse, and have benefitted from the strides made in application areas of multi-axis robotics. The popularity of electric grippers continue to escalate in a vast array of applications such as pick-and-place, grinding and polishing, semiconductor, light industry, automotive industry, and food and beverages industry. Key advantages of electrical grippers emerge from the fact that they don’t need compressors unlike pneumatic grippers. Hence, they are popularly used in applications characterized in controlled environmental/atmospheric conditions, bolstering the growth prospect in the electric grippers market.
The study on the electric grippers market offers insights into the key growth dynamics, share and size of prominent segments, opportunities in key application areas during 2020 – 2030, and technological advances. The study also looks at the some of the key macroeconomic trends that drive prospects of the electric grippers market on the prospects of the emerging regional markets.
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Electric Grippers Market: Key Trends
The electric grippers market has evolved largely on the back of the Industry 4.0 gathering traction in several economies around the world. End users in the market have harnessed the positional accuracy, programmability of end-of-use robotic tools, and better control over gripper forces. These and many more benefits drive the prospects in the electric grippers market.
Incorporation of servo or stepper motors have helped end-use industries leverage electric grippers in high-end applications. The use of position sensors is a key technological trend in the electric grippers market. Growing prospect of robotics with electric grippers in rehab centers and nursing homes is a key trend boosting the growth of the market.
Strides in the electric grippers market have also witnessed a huge undercurrent due to the increasing trend of robotic automation in the manufacturing sector. Gripping application in a narrow space and with variety of workpiece materials has fueled the preference of electric grippers. Advances in lubricating grease used with electric grippers have also boosted the applications.
Electric Grippers Market: Competitive Analysis and Key Developments
A growing number of manufacturers in the electric grippers market are leaning on unveiling cost-effective as well as versatile grippers in a bid to stay ahead in the competitive arc. Several players are committed toward meeting all needs of end users in the Industry 4.0. To this effect, they are offering electric grippers with IO-Link interconnectivity. The technological advancement is helping them in integrating end-of-arm tooling. Some prominent players are keen on offering solutions that expand their line of collaborative efforts in order to gain from early adopter advantage.
The competitive dynamics of the electric grippers in the next few years will be increasingly influenced by the advent of connectivity protocols for electric actuators. Some of the key players in the electric grippers market are SMC Corporation of America, SMAC Corporation, SCHUNK GmbH & Co. KG, PHD Inc., PARKER HANNIFIN CORP, IAI America, Inc., Festo, and EMI Corporation.
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Electric Grippers Market: Regional Assessment
Europe and North America have been strikingly lucrative regional markets. The opportunities in the regional markets have been fueled by rapid strides being made in the manufacturing and robotics sector. Rise in adoption of electric grippers in cleanroom and pharmaceutical applications has spurred the prospects. On the other hand, Asia Pacific has been offering colossal revenue prospects to actuator manufacturers. This is on the back of the increasing trend of Industry 4.0. Strides being made in the manufacturing sector in the emerging economies in Asia have also cemented the prospects in the electric grippers market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.