The "Global Robotics End-Of-Arm Tooling Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The robotics end-of-arm tooling market will register a CAGR of more than 13% by 2023
The rapidly increasing use of FDM and additive manufacturing in EOAT manufacturing is facilitating faster customization and is more advanced compared to other conventional methodologies. Owing to several advantages including cost-effectiveness and reduced delivery time, the adoption of robotics end-of-arm tooling is expected to rise in the forthcoming years.
Rise in demand for modular EOAT
Manufacturers across the globe have been increasing investments in incorporating industrial robots being used in several end-user industries to aid the workforce in carrying out a range of activities. For instance, many vendors in the packaging industry are preferring EOAT to accommodate future modifications, in turn, contributing to the continuous growth of the market.
High cost of deployment of industrial robots limits the demand for robotic EOAT
The ASPs of installing robotic EOATs are significantly high. Furthermore, the additional costs incurred on preventive maintenance, safety, operator training, and use of complementary peripheral equipment results in the limited adoption of robotic EOAT.
For the detailed list of factors that will drive and challenge the growth of the robotics end-of-arm tooling market during the 2019-2023, view the full report.
Various robotics end-of-arm tooling manufacturers are leveraging advanced technologies to launch advanced products catering to the rising demand of automation across several end-user industries. This will result the market to witness intense competition in the forthcoming years. Furthermore, the manufacturers are focusing on incorporating advanced technologies to improve their shares in the market.
According to the report, one of the major drivers for this market is the rapidly rising demand for modular EOAT. The latest trend gaining momentum in the market is the use of FDM and additive manufacturing in end-of-arm tooling manufacturing. Further, the report states that one of the major factors hindering the growth of this market is the considerably high cost of deployment of industrial robots coupled with additional costs incurred in operator training.