$30+ Billion Robotics and Automation Actuators Market - Global Forecast to 2024
DUBLIN, March 22, 2019 /PRNewswire/ -- The "Robotics and Automation Actuators Market by Actuation, Application, Industry, Design Characteristics, Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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Technological advancements in actuators and rising demand for robots are the major factors driving the growth of the robotics and automation actuators market, globally
The robotics and automation actuators market size is expected to grow from USD 15.8 billion in 2019 to USD 30.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.37% during the forecast period.
The market for robotics and automation actuators is driven due to the increased use of electric actuators and compact pneumatic actuators in robotics and automation applications across the globe. However, the formulation and stringent implementation of various regulations to ensure increased safety, reduce power consumption, and noise and leak elimination in robotics and automation actuators are expected to restrain the growth of the robotics and automation actuators market across the globe.
Electric actuation to grow at highest CAGR during the forecast period in robotics and automation actuators market
On the basis of actuation, the robotics and automation actuators market has been segmented into pneumatic, hydraulic, and electric. The electric actuation segment is projected to grow at the highest CAGR during the forecast period. Electric actuators are expected to replace hydraulic and pneumatic actuators due to their higher efficiency and greater levels of control. Major manufacturers of electric actuators include Thomson Linear, SMC, ABB, Rockwell Automation, and Curtiss Wright, among others.
Process automation segment is estimated to account for the largest market share in the robotics and automation actuators market in 2019
The application segment of global robotics and automation actuators market has been further segmented into robotics and process automation. The automation of parts includes various application areas across different industrial verticals where automation actuators are used. The robotics part includes the robotic actuators required for industrial robots and the service robots which are used across different industrial verticals. The demand for factory automation is increasing across industries due to the changing consumption patterns, and production of goods and services. For example, in the food & beverages industry, manufacturers are employing mass customization capabilities to address the changing needs of customers.
The robotics and automation actuators market in Asia Pacific is projected to grow at the highest CAGR
The Asia Pacific region is estimated to lead the global robotics and automation actuators market in 2019 and is expected to continue to lead during the forecast period. This region is upgrading various capabilities by undertaking developments in the field of actuators. China and India are primarily investing in robotics and automation to enhance and gain a tactical edge. This is an excellent opportunity for robotics and automation actuator manufacturers to strengthen their businesses in the Asia Pacific region.
The robotics and automation actuators market includes key players, such as ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US), Moog (US), SMC (Japan), Curtiss Wright (US), and MISUMI (Japan), among others.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Robotics and Automation Actuators Market, 2019-2024
4.2 Robotics and Automation Actuators Market, By Actuation
4.3 Robotics and Automation Actuators Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements in Actuators
5.2.1.2 Rising Demand for Robots
5.2.1.3 Digitalization of Production Processes
5.2.1.4 Increased Investments in Automation Across Industry Verticals
5.2.2 Restraints
5.2.2.1 High Overall Installation Cost for Low-Volume Production
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Low-Cost Industrial Robots Capable of Working in Collaboration With Humans
5.2.3.2 Use of Advanced Actuators in Different Verticals
5.2.4 Challenges
5.2.4.1 Power Consumption, Noise, and Leak Issues
5.2.4.2 Lack of Standard Protocols to Manufacture the Products
5.2.4.3 Lack of Skilled Personnel
6 Industry Trends
6.1 Introduction
6.2 Evolution
6.3 Evolution of Actuators
6.4 Technology Trends
6.4.1 Smart Actuators
6.4.2 Hybrid Actuators
6.4.3 Mems Actuators
6.4.4 Voice Coil Actuators
6.5 Standards and Regulations
6.6 Patent Analysis
7 Robotics and Automation Actuators, By Actuation
7.1 Introduction
7.2 Electric
7.2.1 High Demand for Electric Actuators in Robotic Applications to Boost the Demand for Actuators
7.3 Pneumatic
7.3.1 Increasing Demand for Pneumatic Actuators in High Precision Applications to Drive the Demand for Pneumatic Actuators
7.4 Hydraulic
7.4.1 Hydraulic Actuators More Efficient for High Load Industrial Applications
7.5 Others
7.5.1 Piezoelectric Actuators to Witness High Market Potential in Future
8 Robotics and Automation Actuators Market, By Type
8.1 Introduction
8.2 Linear
8.2.1 Rod Type Actuators
8.2.1.1 Increasing Demand for Rod Driven Actuators in the Aerospace & Defense & Process Automation Industry
8.2.2 Screw Type Actuators
8.2.2.1 Increasing Use of Screw Driven Actuators in Servo Motors, Drive and Control Hardware, and Sensors
8.2.3 Belt Type Actuators
8.2.3.1 Rising Use of Belt Driven Actuators in Increasing and Enhancing Operational Efficiency of Process Automation
8.3 Rotary
8.3.1 Motor
8.3.1.1 Impressive Surge in the Sales of Industrial Robots to Drive to Growth of Motors During the Forecast Period
8.3.2 Bladder & Vane Actuators
8.3.2.1 Increasing Use of Rotary Actuators in Gates and Valves Used in Process Industries is Expected to Increase the Demand for Bladder & Vane Actuators
8.3.3 Piston Type Actuators
8.3.3.1 Increased Use of Piston Actuators for Precision Control Applications in Electronics Industry is Expected to Increase the Demand for Piston-Type Actuators
9 Robotics and Automation Actuators, By Application
9.1 Introduction
9.2 Process Automation
9.2.1 Machinery
9.2.1.1 Continuous Innovation in Industrial Robotics Boosts Its Adoption in Manufacturing
9.2.2 Material Handling
9.2.2.1 Need for Mass Production and Connected Supply Chain to Drive the Growth in This Application
9.2.3 Flow Control
9.2.3.1 Rising Demand for Automation From Manufacturing and Process Industries for Streamlined Process to Boost the Demand for Actuators
9.2.4 Ventilation
9.2.4.1 Increasing Demand for Process Automation From Core Industries to Drive the Demand in This Application
9.2.5 Others
9.3 Robotics
9.3.1 Industry Robots
9.3.1.1 Articulated Robot
9.3.1.1.1 Articulated Robots are Used in Many Different Applications Owing to Increased Payload Capacity, Reliability, and Speed
9.3.1.2 Scara Robot
9.3.1.2.1 Best Price-To-Performance Ratio for A High-Speed Robot is Driving the Demand for Scara Robots
9.3.1.3 Parallel Robot
9.3.1.3.1 The Growth Can Be Attributed to Its Usage in High-Speed Requirement Applications
9.3.1.4 Cartesian Robot
9.3.1.4.1 Simpler Controls, With A High Degree of Mechanical Rigidity, Accuracy, and Repeatability are Driving the Growth for This Market
9.3.1.5 Collaborative Robot
9.3.1.5.1 Increase in Demand for Low-Cost Industrial Robots Capable of Working in Collaboration With Humans
9.3.1.6 Others
9.4 Service Robots
9.4.1 Professional Robots
9.4.1.1 Logistics Robots
9.4.1.1.1 Increasing Demand for Automated Guided Vehicles in Factories, Warehouses, Logistic Centers, Hospitals to Drive the Growth in This Segment
9.4.1.2 Medical Robots
9.4.1.2.1 High Demand for Medical Robots Owing to the Subsequent Increase in Joint & Vascular Diseases, and Other Chronic Conditions
9.4.1.3 Exoskeleton
9.4.1.3.1 High Potential for Exoskeletons to Drive the Growth for Actuators
9.4.1.4 Field Robots
9.4.1.4.1 Increasing Demand From Utility Applications to Drive the Growth in This Application
9.4.1.5 Military Robots
9.4.1.5.1 Increased Demand for Robots in Applications Such as Isr, Search and Rescue, Combat Support, Transportation, EOD, Mine Clearance, and Firefighting
9.4.1.6 Construction Robots
9.4.1.6.1 Increased Demand for Robots to Conduct Lifting and Material Handling Applications
9.4.1.7 Public Relation Robots
9.4.1.7.1 High Demand From Entertainment Segment to Drive the Demand in This Category
9.4.2 Personal Robots
9.4.2.1 Higher Demand for Service Robots in Domestic Applications
10 Robotics and Automation Actuators Market, By Industry
10.1 Introduction
10.2 Food & Beverages
10.2.1 The Need for Increased Automation and Enhancing the Capacity of Existing Plants are Expected to Drive the Market in Food & Beverages Industry
10.3 Oil & Gas
10.3.1 Increasing Oil&Gas Exploration Activities in Asia Pacific Region to Drive the Growth of This Market
10.4 Metals, Mining, & Machinery
10.4.1 Requirement of Robust Actuators in Mining Industry Will Drive the Growth in This Market
10.5 Power Generation
10.5.1 Increasing Spend on Renewable Power Generation Activities is Expected to Increase the Demand for Actuators
10.6 Chemicals, Paper, and Plastics
10.6.1 Increasing Industrialization and Stringent Environmental Regulations are Driving the Market for Actuators in This Segment
10.7 Pharmaceutical & Healthcare
10.7.1 Stringent Regulations & Increasing Demand for Surgical Robots in Healthcare Industry is Boosting the Demand for Actuators in This Sector
10.8 Automotive
10.8.1 Increased Demand for Industrial Robots in Automotive Sector to Drive the Growth in This Segment
10.9 Aerospace & Defense
10.9.1 Increasing Defense Expenditures, Growth in Commercial Aviation and Ongoing Military Modernization Programs are Driving the Demand for Actuators Across the Globe
10.10 Marine
10.10.1 Demand From Commercial Shipbuilding is Driving the Growth of the Market
10.11 Electronics & Electricals
10.11.1 The Growth Can Be Attributed to Continuously Increasing Demand for Batteries, Chips and Displays
10.12 Construction
10.12.1 Increased Demand for Robots to Conduct Lifting and Material Handling Applications to Boost the Demand for Actuators
10.13 Utilities
10.13.1 Increasing Demand for Logistics, Agriculture, & Field Robots to Drive the Growth in This Market
10.14 Household & Entertainment
10.14.1 Increasing Demand for Service Robots in Domestic Applications is Increasing the Demand for Actuators in This Segment
11 Robotics and Automation Actuators, By Design Characteristics
11.1 Introduction
11.2 By Load
11.2.1 High (Above 10 Kn)
11.2.2 Medium (1 to 10 Kn)
11.2.3 Low (Below 1 Kn)
11.3 By Torque
11.3.1 High (Above 500 Nm)
11.3.2 Medium (100 to 500 Nm)
11.3.3 Low (Below 100 Nm)
12 Regional Analysis
13 Competitive Landscape
13.1 Introduction
13.2 Competitive Leadership Mapping
13.3 Ranking of Key Players, 2018
13.4 Competitive Scenario
14 Company Profiles
14.1 Introduction
14.2 ABB
14.3 Rockwell Automation
14.4 Moog
14.5 Curtiss Wright (Exlar)
14.6 Altra Industrial Motion
14.7 SMC
14.8 Misumi Group Inc.
14.9 SKF
14.10 DVG Automation
14.11 Festo
14.12 Harmonic Drive LLC
14.13 IAI
14.14 Kollmorgen
14.15 Macron Dynamics
14.16 Nook Industries, Inc.
14.17 Rotomation
14.18 Tolomatic
14.19 Venture Mfg. Co.
14.20 Cedrat Technologies
14.21 Kinitics Automation
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