The primary element behind the expansion of the robotic actuator sector is the rise in demand for unmanned aerial vehicles (UAVs). The rising use of UAVs in both commercial and military applications has led to an increase in the demand for robotic actuators on a global scale. Throughout the course of the research period, it is also projected that the rising need for advanced robots in a number of industrial applications will fuel market growth.
The increased demand for higher-quality products and the expense of labour are anticipated to be the key growth drivers for the global robotic actuator market. One of the main drivers of the robotic actuator market's expansion is the automobile sector. Automotive production involves a number of labour-intensive operations that demand a high degree of accuracy, including as welding, painting, and assembling. Due to this, effective production methods are now required in order to cut lead times and obtain economies of scale. By automating numerous assembly-line procedures, robotics enables automakers to accomplish these goals.
Robotic actuators enable better accuracy and efficiency in jobs like welding, manufacturing, and measuring, which is one of the market's main benefits. They assist in lowering downtime, scrap rates, and quality control. To fit different applications, robotic actuators come in a range of sizes, forms, and payload capabilities. Because of their modular construction, they are easily scalable and adaptable to changing needs. To improve operator safety, they can be combined with security features like obstacle detection and collision avoidance. Robotic actuators can automate processes, resulting in lower labour costs, material waste, and energy usage.
An apparatus that transforms energy into motion is called a robotic actuator. Robots and other automated machinery are powered by it. Electric motors are the most often used type of actuators, however hydraulic and pneumatic actuators are also utilised in specific applications. Actuators used in robots change energy from one form to another. An electric motor, for instance, transforms electrical energy into mechanical energy. The arm or leg of a robot can then be moved using this mechanical energy.
In 2020, the market for robotic actuators was estimated to be worth USD 1.1 billion. By the end of 2031, that market is anticipated to be worth USD 1.7 billion, rising at a CAGR of 4.5%.
The robotic actuator market is being constrained by high initial investment. Robotics technology's future lies on more capable and advanced machines that demand ever-increasing degrees of dexterity, raising prices in the process. This has prevented numerous businesses from entering the market and has aided in the industry's consolidation. Only a small number of businesses currently have the size and funding to create cutting-edge robotics technologies. However, the industry is steadily becoming more open to new entrants due to falling prices for essential parts like sensors and motors, and throughout the forecast period, the development of low-cost robotic actuators is anticipated to do so.
Aerotech Inc., Honeywell International Inc., Moog, Nidec Corporation, Parker Hannifin Corporation, Rockwell Automation, SCHUNK GmbH & Co. KG, SMC Corporation, Toshiba Machine Co., Ltd., and Yaskawa Motoman Robotics Divn. are a few of the leading companies in the robotic actuator market.
Due to their widespread use in aerospace and defence applications, multi-axis actuators are expected to increase at the greatest CAGR throughout the projected period.
The aerospace industry's application sector is estimated to hold the largest market share over the course of the forecasted period. It is possible to attribute aspects like the expansion of this market sector to the demand for agile robots in the assembly, testing, and inspection of aircraft. This desire is further supported by robotic actuators. The need for actuator-controlled collaborative robots (cobots) is anticipated to increase significantly in a number of applications, including material handling and welding, which will be advantageous for the auto sector.
In terms of value, Asia Pacific is predicted to have the largest share among the regions in 2031. North America is anticipated to be the second-largest market for robotic actuators throughout the projected period. The increase in demand for these tools from the automotive industry to improve assembly line effectiveness and increase production rate is what is driving this market's growth. Furthermore, it is projected that a sizable government investment in R&D activities will boost market expansion.
COVID-19 Impact and Market Status
The COVID-19 pandemic outbreak has had an effect on every industry in the world, and the robotic actuator market is no exception. The lockdown imposed by several countries to stop the virus's spread has severely reduced the demand for robotic actuators. However, the need for robotic actuators is anticipated to increase in the upcoming years as restrictions are gradually loosened and factories and other production facilities are reopened. The market is being propelled by the rising need for sophisticated automation solutions across numerous industries, including the automotive and electronics sectors. The robotic actuator market is expanding as a result of the growing use of robotics in manufacturing and healthcare applications.
Latest Innovations in the Global Robotic Actuator Market: A Snapshot
Since 2021, the following most recent advancements in the field of robotic actuators have been noted:
• Collaborative robots are those that can operate side by side with humans while creating no safety issues. These collaborative robots have soft exteriors and sensors, making them safe to use around people. These robotic actuators are expected to be widely used in a variety of industries during the course of the forecast period.
• Powered by artificial intelligence (AI) These are robots that have AI capabilities, allowing them to learn and adjust to new circumstances. Over the forecast period, it is anticipated that these robotic actuators will be used more and more in a variety of sectors, including manufacturing and healthcare.
• Robots produced with 3D printing: This technology is rapidly being used to create robots. This is because robots that are 3D-printed can be modified to meet the demands of a given application. They can therefore be used in a variety of sectors, including the automobile and aerospace industries.
• Flexible Robots: These are robots that can fit into tight spaces since they are made of flexible materials. Flexible robots are expected to be widely used in a number of industries during the next few years, including healthcare and the automotive industry.
Robotic Actuator Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1.7 billion|
|Growth Rate||CAGR of 4.5 % during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Aerotech Inc., Honeywell International Inc., Moog, Nidec Corporation, Parker Hannifin Corporation, Rockwell Automation, SCHUNK GmbH & Co. KG, SMC Corporation, Toshiba Machine Co., Ltd., and Yaskawa Motoman Robotics Divn.|
Key Segments of the Global Robotic Actuator Market
by Type, 2021-2031 (USD Billion)
- Single Axis
Application Overview, 2021-2031 (USD Billion)
- Transport Industry
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa
- South Africa