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A74552 | Pages: 339 | Charts: 84 | Tables: 126 |
The global robotics and automation actuators market was valued at $13.2 billion in 2022 and is projected to reach $45.2 billion by 2032, growing at a CAGR of 13.2% from 2023 to 2032.
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.
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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 a surge in the use of robots in the healthcare and transportation sectors. Moreover, the increase in the 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 are a restraint for the 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.
Based on 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 a major market share till 2032.
[TYPEGRAPH]
Based on actuation, the market is segregated into electrical, mechanical, hydraulic, and pneumatic. The pneumatic segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032.
[ACTUATIONGRAPH]
Based on 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 2023 to 2032.
[ENDUSEINDUSTRYGRAPH]
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 remains a significant participant in the robotics and automation actuators market.
[REGIONGRAPH]
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-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 a 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 the LAMEA region, the Middle East garnered a 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 the 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.
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.
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.
Key Market Segments
Key Market Players