Report Code: A74552 | Pages: 339 | Apr 2023 | 408 Views | ||
Author(s) : Tanuj B , Vineet K | Tables: 126 | Charts: 84 |
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Actuators are devices that convert energy into mechanical motion or force. They are used to control and move various types of systems, such as valves, switches, and motors. Actuators can be powered by a variety of sources, including electricity, hydraulic pressure, or air pressure, and are often used in industrial, automotive, aerospace, and robotics applications. Actuators come in a wide range of types, including electric, hydraulic, pneumatic, and mechanical. Some common examples of actuators include motors, solenoids, relays, and linear actuators. These devices are used to control the motion or position of a system, such as opening or closing a valve, turning a wheel, or moving a robotic arm.
The pandemic has presented both challenges and opportunities for the robotics and automation actuators market. While supply chain disruptions have led to delays and other issues for some manufacturers, the increased demand for service robots has created new opportunities for growth and expansion in the industry. As the pandemic continues to evolve, it remains to be seen how these trends will play out in the robotics and automation actuators market and in the automation sector.
Actuators and soft actuators are essential components in various types of machinery and equipment, where they play a vital role in controlling and automating different processes. Industrial automation actuators are used to perform a wide range of tasks, from simple tasks such as opening and closing doors to more complex tasks such as controlling the position and speed of a robotic arm. Different types of actuators are used for different purposes. Electric actuators, for example, use electric motors to generate motion and force, while hydraulic and pneumatic actuators use hydraulic fluid or compressed air to achieve the same results.
Mechanical actuators use simple mechanisms such as gears, levers, and pulleys to generate motion and force. Actuators can be either linear or rotary. Linear actuators generate motion in a straight line, while rotary actuators generate rotational motion around an axis. Both types of actuators can be used to control the motion and position of a system, depending on the requirements of the application.
The robotics and automation actuators market outlook is expected to witness notable growth during the forecast period, owing to increasing demand for industrial robots, process enhancement ability in 3D printing using linear actuators, and surge in use of robots in healthcare and transportation sector. Moreover, increase in use of intelligent actuators for robotics and industrial automation is expected to provide lucrative opportunities for the growth of the robotics and automation actuators market during the forecast period. On the contrary, high installation costs is the restraint for robotics and automation actuators market growth during the forecast period.
The robotics and automation actuators market forecast is segmented into Type, Actuation and End Use Industry.
On the basis of type, the robotics and automation actuators industry is divided into rotary, and linear. In 2022, the linear segment dominated the market, in terms of revenue, and will acquire major market share till 2032.
On the basis of actuations, the market is segregated into electrical, mechanical, hydraulic, and pneumatic. The pneumatic segment acquired the largest share in 2022Â and is expected to grow at a significant CAGR from 2023Â to 2032.
On the basis of end use industries, the market is segregated into oil and gas, chemicals and CPI, water and wastewater, paper and pulp, mining, automotive, food and beverages, and others. The automotive segment acquired the largest share in 2021 and is expected to grow at a significant CAGR from 2023Â to 2032.
Region-wise, the robotics and automation actuators market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe remain significant participants in the robotics and automation actuators market.
Competitive Analysis
Competitive analysis and profiles of the major global robotics and automation actuators market players that have been provided in the report include ABB Ltd, Altra Industrial Motion (Regal Rexnord), Crane Holdings, Co., Curtiss-Wright Corporation, Flowserve Corporation, IMI, MISUMI Group Inc., Moog, Rockwell Automation, and SMC Corporation.
Country Analysis
Country-wise, the U.S. acquired a prime share in the robotics and automation actuators market in the North American region and is expected to grow at a significant CAGR during the forecast period of 2023-2032.
In Europe, Germany, dominated the robotics and automation actuators market, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, the UK is expected to emerge as the fastest-growing country in Europe's robotics and automation actuators with a CAGR of 13.45%.
In Asia-Pacific, China is expected to emerge as a significant market for the robotics and automation actuators industry, owing to a significant rise in investment by prime players due to rise in electric vehicles (EVs), manufacturing units and favorable government subsidies for the micro, small and medium enterprises (MSMEs) of rural areas in the region.
By LAMEA region, the Middle East garner significant market share in 2022. The LAMEA robotics and automation actuators market size has been witnessing improvement, owing to the growing inclination of companies towards research and development for extraction of oil and gas across this region. Moreover, the Middle East region is expected to grow at a high CAGR of 13.26% from 2023 to 2032.
Historical Data & Information
The global robotics and automation actuators market is highly competitive, owing to the strong presence of existing vendors. Vendors of robotics and automation actuators market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
ABB Ltd, Altra Industrial Motion (Regal Rexnord), Crane Holdings, Co., Curtiss-Wright Corporation, Flowserve Corporation, IMI, MISUMI Group Inc., Moog, Rockwell Automation, and SMC Corporation are the top companies holding a prime share in the robotics and automation actuators market opportunity. Top market players have adopted various strategies, such as product development, acquisition, innovation, partnership, and others to expand their foothold in the robotics and automation actuators market share.
Robotics and Automation Actuators Market Report Highlights
Aspects | Details |
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Market Size By 2032 | USD 45.2 billion |
Growth Rate | CAGR of 13.2% |
Forecast period | 2022 - 2032 |
Report Pages | 339 |
By Type |
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By Actuation |
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By End Use Industry |
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By Region |
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Key Market Players | Flowserve Corporation, Curtiss-Wright Corporation, ABB Ltd., Rockwell Automation, Inc., SMC Corporation, Altra Industrial Motion (Regal Rexnord), Crane Holdings, Co., Moog Inc., MISUMI Group Inc., IMI |
Analyst Review
The market for robotics and automation actuators is expected to grow significantly in the coming years. The growth of the robotics and automation actuators market refers to the expected increase in demand for actuators used in robotics and automation systems. Actuators are devices that convert electrical, hydraulic, or pneumatic energy into mechanical motion, and they play a critical role in controlling the movement and positioning of various parts in robotics and automation systems.
The growth of this market is driven by various factors such as the increase in adoption of automation and robotics in manufacturing processes, the rise in demand for industrial automation across different industries, and the need for high precision & speed in manufacturing processes. In addition, the development of advanced actuators that are capable of performing complex tasks with high accuracy and speed also drives the growth of the robotics and automation actuators market.
As the demand for automation and robotics continues to increase across different industries such as automotive, aerospace, healthcare, and consumer electronics, the demand for high-performance actuators is expected to grow significantly in the coming years. This is expected to create significant opportunities for companies operating in the robotics and automation actuators market, driving innovation and further development of advanced actuators for automation and robotics systems.
Various industries have adopted automation and robotics systems to increase productivity and efficiency in manufacturing processes. Actuators play a crucial role in these systems, enabling precise control of the movement of various parts, thereby reducing errors and increasing productivity. Collaborative robots, also known as cobots, are designed to work alongside humans in manufacturing processes. Actuators used in cobots are designed to be safe, lightweight, and precise, making them ideal for use in collaborative environments. The increase in adoption of cobots is expected to drive the growth of the robotics and automation actuators market. Therefore, the growth of the robotics and automation actuators market is expected to continue in the coming years, driven by the rise in adoption of automation and robotics systems in various industries, technological advancements, and the need for energy-efficient and collaborative solutions.
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A. Collaborative robots and smart actuators are the upcoming trends of Robotics and Automation Actuators Market in the world.
A. Automotive is the leading application of Robotics and Automation Actuators Market.
A. Europe is the largest regional market for Robotics and Automation Actuators
A. The global robotics and automation actuators market was valued at $13,175.64 million in 2022.
A. ABB Ltd, Altra Industrial Motion (Regal Rexnord), Crane Holdings, Co., Curtiss-Wright Corporation, Flowserve Corporation, IMI, MISUMI Group Inc., Moog, Rockwell Automation, and SMC Corporation are the top companies to hold the market share in Robotics and Automation Actuators
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