The Robotics and Automation Actuators Market Size was valued at USD 19.49 billion in 2022, expected to reach USD 55.60 billion by 2030 and grow at a CAGR of 14% over the forecast period 2023-2030.
Some of the opportunities influencing the growth of the robotics and automation actuators market include the development of advanced and cost-effective robotics and automation actuators, as well as increased demand in various industry verticals for industrial robots and process automation.
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MARKET DYNAMICS
KEY DRIVERS
Continuous technical progress in robotics and automation actuators.
Process automation investments in emerging economies' industries.
RESTRAINTS
Crude oil prices have plummeted in recent years, affecting the overall market for various components used in the oil and gas supply chain, including robotics and automation actuators.
The ongoing volatility in the oil and gas business, as well as the price of crude oil.
OPPORTUNITIES
In several industries, there is a high demand for new and sophisticated actuators.
Smart city development throughout the world.
CHALLENGES
Problems with power usage, noise, and leaking.
Customers may not prefer purchasing actuators due to the possibility of defective circuit designs.
THE IMPACT OF COVID-19
However, in light of the recent COVID-19 outbreak, numerous industries' operations have either been temporarily halted or are operating with a reduced workforce due to imposed lockdown and restrictions by respective governing bodies. The global Robotics and Automation Actuators market is no exception, and this factor is expected to have a significant negative impact on the industry's revenue growth. Furthermore, the high costs associated with the installation and maintenance of these machines may impede the revenue growth of the global Robotics and Automation Actuators market during the forecast period.
The electric segment is expected to lead the robotics and automation actuators market by actuation in 2022. This segment's growth can be attributed to high power efficiency, lower system weight, and increasing power output. In 2022, the robotics segment is expected to grow at the fastest CAGR in the robotics and automation actuators market. The robotics market has been further subdivided into industrial robots and service robots. The expansion of this segment is increasing the demand for industrial robots in large-scale enterprises, while service robots are used for both professional and personal applications. The rotary is expected to grow at the fastest CAGR during the forecast period.
They convert electrical energy into rotational motion. These actuators are primarily used in automation applications such as gates, valves, and so on, as well as industries where accurate positioning of end effector, such as valve movement in a pipeline, is required, and are thus fueling market growth.
The electronics & electricals segment is expected to lead the market for robotics and automation actuators during the forecast period, owing to rising demand for batteries, chips, and displays, which is fueling growth in the robotics and automation actuators market for electronics & electrical.
By Application
Process Automation
Robotics
By Vertical
Automotive
Electronics
Healthcare
By Actuation
Electric
Pneumatic
Hydraulic
By Characteristics
Load
Torque
By Type
Linear Actuators
Rotary Actuators
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REGIONAL ANALYSIS
In 2023, the Asia Pacific region is expected to lead the robotics and automation actuators market. This region's robotics and automation actuators market has been researched for Japan, China, India, South Korea, Taiwan, and the rest of Asia Pacific. Countries in the Asia Pacific region are improving their varied capacities by developing actuators. China and Japan are investing primarily in robotics and automation in order to improve and achieve a tactical advantage in robotics and process automation. This is a good opportunity for producers of robotics and automation actuators to grow their operations in the Asia Pacific area.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are ABB, Rockwell Automation, Altra Industrial Motion., Moog, Curtis Wright, MISUMI, SKF Motion Technologies, SMC Corporation, Thomson Industries, Inc., and other players.
Rockwell Automation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 19.49 Billion |
| Market Size by 2030 | US$ 55.60 Billion |
| CAGR | CAGR of 14% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Process Automation, Robotics) • By Vertical (Automotive, Electronics, Healthcare) • By Actuation (Electric, Pneumatic, Hydraulic) • By Type • By Characteristics |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | ABB, Rockwell Automation, Altra Industrial Motion., Moog, Curtis Wright, MISUMI, SKF Motion Technologies, SMC Corporation, Thomson Industries, Inc. |
| DRIVERS | • Continuous technical progress in robotics and automation actuators. • Process automation investments in emerging economies' industries. |
| RESTRAINTS | • Crude oil prices have plummeted in recent years, affecting the overall market for various components used in the oil and gas supply chain, including robotics and automation actuators. • The ongoing volatility in the oil and gas business, as well as the price of crude oil. |
The market size of the Robotics and Automation Actuators Market is expected to reach USD 55.60 billion by 2030.
The growth rate of the Robotics and Automation Actuators Market is 14% during the forecast period.
ABB, Rockwell Automation, Altra Industrial Motion., Moog, SMC, Curtis Wright, and MISUMI, SKF Motion Technologies, SMC Corporation, and Thomson Industries, Inc. are leading players in the Robotics and Automation Actuators Market.
Robotics and Automation Actuators Market is segmented into 5 categories: By Vertical, By Actuation, By Type, By Characteristics, and By Application.
Asia Pacific region dominated the Robotics and Automation Actuators Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Robotics and Automation Actuators Market Segmentation, by Application
8.1 Process Automation
8.2 Robotics
9. Robotics and Automation Actuators Market Segmentation, by Vertical
9.1 Automotive
9.2 Electronics
9.3 Healthcare
10. Robotics and Automation Actuators Market Segmentation, by Actuation
10.1 Electric
10.2 Pneumatic
10.3 Hydraulic
11. Robotics and Automation Actuators Market Segmentation, by Characteristics
11.1 Load
11.2 Torque
12. Robotics and Automation Actuators Market Segmentation, by Type
12.1 Linear Actuators
12.2 Rotary Actuators
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 ABB
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Rockwell Automation
14.3 Altra Industrial Motion.
14.4 Moog
14.5 SMC Corporation
14.6 Curtis Wright
14.7 MISUMI
14.8 SKF Motion Technologies
14.9 Thomson Industries, Inc.
14.10 Other Players
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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