Portland, OR, April 24, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Robotics and Automation Actuators Market By Type (Rotary, and Linear), By Actuations (Electrical, Mechanical, Hydraulic, and Pneumatic) and End User Industry (Oil and Gas, Chemicals and CPI, Water and Wastewater, Paper and Pulp, Mining, Automotive, Food and Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global robotics and automation actuators industry generated $13.2 billion in 2022, and is anticipated to generate $45.2 billion by 2032, witnessing a CAGR of 13.2% from 2023 to 2032.
Prime determinants of growth
The robotics and automation actuators market analysis are anticipated to expand significantly during the forecast period owing to increasing demand for industrial robots, process enhancement ability in 3D printing using linear actuators, surge in use of robots in healthcare and transportation sector. Additionally, during the forecast period, the robotics and automation actuators market is anticipated to increase the use of intelligent actuators for robotics and industrial automation. On the other hand, growth in the robotics and automation actuators market is expected to be restrained by high installation costs.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $13.2 billion |
| Market Size in 2032 | $45.2 billion |
| CAGR | 13.2% |
| No. of Pages in Report | 339 |
| Segments covered | Type, Actuation, End Use Industry, and Region. |
| Drivers | Increasing demand for industrial robots. Process enhancement ability in 3D printing using linear actuators. Surge in use of robots in healthcare and transportation sector. |
| Opportunities | Increase in use of intelligent actuators for robotics and industrial automation. |
| Restraints | High installation cost. |
Covid-19 Scenario
- The COVID-19 pandemic had caused significant disruptions in global supply chains, including those for robotics and automation actuators. Many factories had been forced to shut down or operate at reduced capacity, leading to shortages of key components.
- However, the market has already recovered in the post-pandemic.
The rotary segment to maintain its leadership status throughout the forecast period.
Based on type, the rotary segment held the highest market share in 2022, accounting for more than three-fourths of the global robotics and automation actuators market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it has high demand for rotary actuators for servo motors. However, the linear segment is projected to manifest the highest CAGR of 14.09% from 2023 to 2032, as it offers a cost-effective solution to move loads in a straight line.
The pneumatic segment to maintain its leadership status throughout the forecast period.
Based on actuation, the pneumatic segment held the highest market share in 2022, accounting for more than one-third of the global robotics and automation actuators market revenue, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 13.82% from 2023 to 2032 The growth factors and opportunities for pneumatic actuation include advancements in technology, increase in demand for energy-efficient solutions, growth in demand from emerging markets, expansion in the manufacturing sector, rise in automation, and the need for reliable & cost-effective solutions. With increase in demand for energy-efficient solutions, there is an opportunity for manufacturers to develop more efficient pneumatic actuation systems that consume less energy and reduce carbon emissions.
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The others segment to maintain its lead position during the forecast period.
Based on end use industry, the others segment accounted for the largest share in 2022, contributing to more than one-fourth of the global robotics and automation actuators market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for renewable energy sources and smart grids, growth in the biopharmaceutical industry and need for automation and control systems in drug development and manufacturing, growth in the microelectronics and semiconductor industry and demand for precision and accuracy in manufacturing processes, growing adoption of robotic and automation technologies in healthcare for surgery, rehabilitation, and diagnostics, and others are some of the key market trends which drives the others segment for robotics and automation actuators during the forecast period. However, the automotive segment is expected to portray the largest CAGR of 17.75% from 2023 to 2032. This is due to increasing investment and research in self-driving technology in autonomous vehicles.
North America to maintain its dominance by 2032.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global robotics and automation actuators market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in technological advancements and a well-established automotive industry. However, the Europe region is expected to witness the fastest CAGR of 13.27% from 2023 to 2032, owing to surge in the adoption of robotics and automation actuators by prominent companies in this region.
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Leading Market Players: -
- ABB Ltd
- Altra Industrial Motion (Regal Rexnord)
- Crane Holdings, Co.
- Curtiss-Wright Corporation
- Flowserve Corporation
- IMI
- MISUMI Group Inc.
- Moog
- Rockwell Automation
- SMC Corporation
The report provides a detailed analysis of these key players of the global robotics and automation actuators market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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