Robotics And Automation Actuators Market By Actuation (Electric, Hydraulic), By Type (Linear Actuator, Rotary Actuator), By Application (Process Automation, Robotics), And Region for 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Robotics And Automation Actuators Market Valuation – 2024-2031

The Robotics And Automation Actuators Market is anticipated to experience significant growth in the coming years. The market was valued at USD 20.68 Billion in 2023 and is expected to reach a valuation of USD 57.34 Billion by 2031, growing rapidly at a CAGR of 13.60% during the forecast period from 2024 to 2031.

This growth is attributed to the rising adoption of industrial automation and robotics across a wide range of industries. The demand for industrial robots is projected to experience a strong upswing. These robots are employed in a variety of tasks within the manufacturing sector, such as welding, painting, and assembly. As industries strive for increased efficiency and productivity, the adoption of industrial robots is anticipated to accelerate. This acceleration will consequently propel the demand for actuators that enable their movement and functionality.

Robotics And Automation Actuators MarketDefinition/ Overview

Robotics and automation actuators are devices tasked with converting energy into purposeful movement or force, acting as the essential muscles within robots and automated machines. Their meticulous control and manipulation of various system parts allow robots to perform complex tasks with impressive precision and speed.

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What is the impact of the growing adoption of automation and robots on the demand for robotics and automation actuators?

The growing adoption of automation and robotics is significantly impacting the demand for robotics and automation actuators. This growth can be attributed to several factors. The automation of tasks necessitates a corresponding rise in the number of robots and automated machines. These machines rely on actuators to perform the required movements and actions. This translates to a heightened demand for various actuator types (linear, rotary) and actuation methods (electric, hydraulic).

Automation is really taking off everywhere these days – you see it in factories, hospitals, even how things get shipped! Because of this, we need all sorts of actuators doing different jobs. Think about it a delicate surgical robot needs super-precise electric actuators, but a big, strong industrial robot might use hydraulic ones. That's why the actuator market is expanding, with more demand for specialized capabilities. Of course, all these industrial robots being used are a huge reason for the actuator boom. They’re doing things like welding, painting, and putting stuff together, and it's all thanks to actuators precisely controlling their movements. As companies push for better efficiency and more output, expect to see even more industrial robots, which means even more demand for the actuators that make them tick.

Therefore, the growth of automation and robotics is creating a substantial demand for a wider range of robotics and automation actuators. As automation continues to integrate into different industries, the demand for these essential robotic muscles is expected to keep rising.

What are the challenges associated with the availability of a skilled workforce capable of installing, maintaining, and programming robots and actuators?

The increasing adoption of robotics and automation actuators is accompanied by a significant challengethe limited availability of a skilled workforce capable of installing, maintaining, and programming these complex systems. Several factors contribute to this challenge.

One big problem? The skills gap. You need a pretty specific mix of know-how – mechanical, electrical, and computer programming – to really get your hands dirty with robots and actuators. But our schools and training programs? They might not be keeping up with how fast things are changing in the real world. This leads to a shortage of qualified people. Plus, robotics and automation are always inventing new stuff! It's like a constant stream of new tech and features. So, folks need to be learning all the time just to stay relevant and not get left behind. Think of it as always leveling up your skills! But finding the right training opportunities can be tough. There just aren't enough programs out there to properly equip people to work with, say, pneumatics or other automation gizmos. This makes it harder for new people to break into the field, which, in turn, keeps the whole skilled workforce from growing as fast as it could.

Talent competition is another challenge. As the demand for skilled workers in this field surpasses the supply, intense competition for these individuals arises. This can translate to higher salaries and benefits, potentially making it difficult, particularly for smaller companies, to attract and retain qualified personnel. Finally, the demand for skilled workers might be unevenly distributed across different geographical regions. This can lead to talent shortages in specific areas where automation is rapidly expanding, creating a logistical hurdle for companies looking to implement these technologies.

These challenges can impede the smooth implementation and operation of automated systems. They have the potential to slow down the overall growth of the Robotics And Automation Actuators Market by creating bottlenecks in the adoption and utilization of these technologies.

Category-Wise Acumens

What are the Key Drivers Propelling the Market for Robotics Applications?

The robotic segment is estimated to dominate the market during the forecast period. Manufacturing and other businesses are increasingly using robots to undertake monotonous, risky, or physically demanding work. The march toward automation boosts efficiency, production, and worker safety. Actuators are critical components of robots, allowing them to move and function. The rise of industrial robotics drives up the demand for actuators designed expressly for these applications.

Rapid advances in robotics technology are resulting in the creation of more sophisticated robots capable of executing difficult tasks with greater precision and dexterity. These improvements entail the creation of high-performance and adaptable actuators capable of meeting the requirements of these new robot designs.

Furthermore, the usage of robots is growing beyond typical production applications. Robots are increasingly utilized in a variety of industries, including healthcare, logistics, agriculture, and even customer service. This diversity of robot applications opens up a larger market for actuators designed to meet the individual needs of each industry.

In what ways are electric actuators better than traditional hydraulic or pneumatic-based actuators?

The electric actuator segment is estimated to dominate the market during the forecast period. Electric actuators provide tremendous controllability and precision. They are easily coupled with control systems and sensors, enabling precise placement and movement of robotic components. Because of their adaptability, they may be used in a variety of applications, including industrial robots, collaborative robots, and automation systems.

Electric actuators are typically more energy efficient than hydraulic or pneumatic equivalents. This results in lower running costs and a smaller environmental footprint. Also, they run quietly and do not require dirty fluids, making them perfect for cleanrooms and applications requiring noise reduction.

Furthermore, electric actuators are typically more compact and lightweight than hydraulic or pneumatic systems. This enables a lower robot footprint and easier integration into space-constrained areas. Also, the lack of intricate piping or hoses facilitates installation and maintenance.

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Country/Region-wise Acumens

How are advancements in domestic manufacturing capabilities for robotics and automation actuators impacting the North American market, and how might this trend evolve in the future?

Advancements in domestic manufacturing capabilities for robotics and automation actuators are significantly impacting the North American market. These advancements hold the potential to reshape the landscape in the coming years.

As our own manufacturers get better, things are getting a whole lot more competitive! North American companies are finally holding their own against those overseas. That means potentially lower prices for you and me, and we won't have to depend so much on stuff coming from halfway around the world. We might even see a boom in robotics and automation here at home! Plus, think about the security boost! Making things here gives us way more control over quality and keeping things safe – super important for things like defense and critical infrastructure, where actuator reliability is key. We can also worry less about someone stealing our ideas or selling us fake parts. And get thisit could lead to way more innovation. If we're making more stuff here, manufacturers, developers, and the people who actually use the stuff can all work closer together. That could mean we get new actuator tech designed specifically for what we need here in North America. And let's not forget jobs! If we make more actuators here, that means new jobs, boosting the economy and giving folks in North America some great skilled work.

What is the impact of the growing presence of low-cost robot manufacturers in the Asia Pacific region on the overall market dynamics for robotics and automation actuators?

The rise of budget-friendly robot makers in Asia Pacific is really shaking things up in the robotics and automation actuator market. It's a mixed bag, creating both good stuff and tough hurdles. For starters, it's making things way easier to get into – more businesses, especially small and medium-sized enterprises (SMEs), can now afford to automate. This wider adoption could seriously boost demand for robotics and automation actuators. On the flip side, we're seeing a squeeze on prices. These low-cost robot manufacturers are turning up the heat, forcing actuator prices down. This is great news if you're looking for a deal, but actuator manufacturers need to get super efficient and cut costs without skimping on quality to stay in the game.

Actuator companies that have been around the block might need to think outside the box a little. Maybe they'll build actuators that are super specialized, perfect for those tricky, under-the-radar jobs. Or perhaps they'll pump money into R&D, dreaming up actuators that are more powerful and use less energy. You know, the future is now! ?? Plus, things like standardization and modularity are becoming a bigger deal. As cheaper robots become more common, there's a push to make actuators that easily plug and play with various robots, which could save everyone some serious cash. But hey, quality still matters! Even though everyone wants a bargain, there's worry that those super-cheap actuators might not last. That's where the well-known, trustworthy brands come in—they can show off their top-notch quality and maybe even charge a little more for the peace of mind.

Competitive Landscape

The Robotics And Automation Actuators Market thrives on a dynamic interplay between established industry leaders, inventive startups, and a diverse range of actuator technology providers. This collaborative environment caters to the ever-evolving needs of businesses seeking to optimize their automation processes. Key players differentiate themselves through cutting-edge actuator designs, strategic alliances, and comprehensive solutions encompassing the entire actuation value chain. Manufacturers offering high-performance actuators, coupled with intuitive control systems and robust engineering support, are well-positioned for market leadership.

Some of the prominent players operating in the Robotics And Automation Actuators Market include

Moog Inc., Rockwell Automation Inc., Crane Holdings Co., Altra Industrial Motion, Flowserve Corporation, Curtiss-Wright Corporation, MISUME Group Inc., SMC Corporation, ABB Ltd, Yaskawa Electric Corporation, SKF.

Latest Developments

  • In March 2023, Rockwell Automation, Inc. invested in READY Robotics, which is a company that specializes in software-defined automation. READY Robotics is also a Rockwell Technology Partner. Through the use of their ForgeOS platform, operators can control and program multiple popular robot brands with minimal training. The platform is designed to be user-friendly and offers a single interface for managing all the robots.
  • In March 2023, ABB inaugurated a cutting-edge, fully automated, and versatile robotics factory in Shanghai, China. Covering an area of 67,000 square meters, the facility is dedicated to production and research, representing a whopping $150 million investment by ABB. The factory will employ ABB’s digital and automation technologies to manufacture the next generation of robots, strengthening ABB’s position as a leader in robotics and automation in China.
  • In March 2023, SMC Corporation introduced a new CG1 Series Air Cylinder, EX600-W Wireless Compact Remote Unit, and updated MSQ series rotary tables. The company supplies products and solutions for industrial automation centered around pneumatic control engineering.
  • In November 2022, The World Skill Centre (WSC) and ABB India Ltd (ABB) signed a memorandum of understanding (MoU) to collaborate in the field of Robotics for the automation industry. The main aim of the MoU is to enable knowledge transfer and develop the staff and students of WSC in the area of Robotics Technology.

Report Scope

Report AttributesDetails
Study Period

2018-2031

Growth Rate

CAGR of 13.60% from 2024 to 2031

Base Year for Valuation

2023

Historical Period

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Actuation
  • Type
  • Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players
  • Moog Inc.
  • Rockwell Automation Inc.
  • Crane Holdings Co.
  • Altra Industrial Motion
  • Flowserve Corporation
  • Curtiss-Wright Corporation
  • MISUME Group Inc.
  • SMC Corporation
  • ABB Ltd
  • Yaskawa Electric Corporation
  • SKF
Customization

Report customization along with purchase available upon request

Robotics And Automation Actuators Market, By Category

Actuation

  • Electric
  • Hydraulic
  • Pneumatic
  • Mechanical

Type

  • Linear Actuator
  • Rotary Actuator

Application

  • Process Automation
  • Robotics
  • Control Systems

Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Research Methodology of Market Research

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