In this report, Planet Market Reports covers the present scenario with the base year being 2017 and the growth prospects of global Vacuum Suction Cups market for 2018-2023.
A vacuum suction cups are the link between the workpiece and the handling system. They consist of the suction cup elastomer part and a connecting element.
Suction cups are used to grip and move workpieces in a plant or on a robot. A suction cup does not attach itself to the surface of a workpiece. Instead, the ambient air pressure atmospheric pressure presses the suction cup against the workpiece as soon as the ambient pressure is greater than the pressure between the suction cup and the workpiece. This pressure difference is achieved by connecting the suction cup to a vacuum generator, which evacuates the air from the space between the cup and the workpiece. If the suction cup is in contact with the surface of the workpiece, no air can enter it from the sides and a vacuum is generated.
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Europe is the largest market with about 35% revenue share in 2017. More than 8000 K Units was sold in Europe in 2017. North America also accounts for a large market share. But Asia-Pacific is fast becoming the world’s leading hotspot, expanding fast compared to North America and Europe.
The Vacuum Suction Cups market is characterized by the presence of many vendors. These vendors are increasingly competing against each other based on factors such as access to raw materials, economies of scales, product innovations, and ability to recycle as the cost of raw materials is very high. Vendors in Vacuum Suction Cups market are focusing on gaining faster access to the raw materials and lowering the manufacturing costs of Vacuum Suction Cups. They are also focusing on customization of products as per end-user industries.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
Over the next five years, Planet Market Reports projects that Vacuum Suction Cups will register a 6.2% CAGR in terms of revenue, reach US$ 830 million by 2023, from US$ 580 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Vacuum Suction Cups market by product type, application, key manufacturers and key regions.
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To calculate the market size, Planet Market Reports considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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