RoboInd market brief: Robotics and Automation Actuators Market is estimated at USD 35.8 billion in 2027. The report cites a CAGR of 13.9% over 2022–2027.
Market snapshot
- USD 35.8 billion in 2027
Stated compound annual growth rate: 13.9% (2022–2027).
Market overview
MarketsandMarkets: The robotics and automation actuators market size is projected to reach USD 35.8 billion by 2027; at a CAGR of 13.9% during the forecast period. ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US). Moog (US), SMC (Japan), Curtis Wright (Exlar) (US), and MISUMI (Japan) are some of the leading players covered in the robotics and automation actuators market report.
Market drivers and constraints
- Ongoing technological advancements in Robotics and automation actuators: The demand for improved performance Robotics and automation actuators for use in various industries has led to the development of new and advanced actuators such as electrical actuators, compact pneumatic actuators, and explosion- proof actuators. Electrical actuators are the most advanced actuators in terms of technology. They are increasingly used in the mining, automation, aerospace & defense, and chemical industries as…
- Continuous upheavals in the oil & gas industry and volatility in the price of crude oil: Actuators are used in the petrochemicals industry for automation at different stages of the oil & gas supply chain. Continuous upheavals in the oil & gas industry in the form of reduced oil prices have affected oil & gas exploration activities across the globe. Several oil-producing countries are focusing on the optimum utilization of their current oil wells. Exploration and development activities of new…
- Development of smart cities across the globe: Due to the ongoing rapid urbanization across the globe, there is an increase in the development of smart cities across the globe. Smart cities adopt instrumentation and actuation technologies to manage and interconnect thousands of scattered sensors and actuators, which use the Internet of Things (IoT).
- Power consumption, noise, and leakage issues: The most challenging stage in the manufacturing of actuators is the designing of a circuit that consumes less energy. Actuators consume more energy than sensors, and a single faulty actuator can result in increased electricity consumption. The power, capacity, and weight of electrical actuators are the main reasons for their increased demand in various applications. However, due to the probability of defective circuit designs, customers may not…
Applications and segments
- Robotics Process Automation
- Linear Actuators Rotary Actuators
- Food & Beverages Oil & Gas
Reading the figures: Values follow the market definition and forecast period stated in the source report. Estimates using different scopes should not be combined without normalization.