Actuators are devices that convert energy to motion. Actuators used in the robotics and automation applications are considered as robotics and automation actuators which are used for moving or controlling mechanisms or systems. MarketsandMarkets: The robotics and automation actuators market is estimated to be valued from USD 18.7 billion in 2022 to USD 35.8 billion by 2027; at a CAGR of 13.9% during the forecast period. Some of the major factors driving the market are ongoing process automation and digitalization of industries across the globe, technologically advanced actuators, and rising demand for industrial robots across different industry verticals.
Apart from a general overview of the major companies in this segment, this report also provides financial analysis, products, services, and the key developments of the major players in the industry. 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. These players are focused on developing new products to enhance their product offerings across different applications by increasing their investment in R&D activities.
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ABB is one of the leading players in the actuators market. The company has received high-value contracts from several major countries such as China and accounts for a large share of the automation of industrial processes carried out in different industry verticals, globally. It has also been focusing on acquisitions of small players to enhance its product offerings as well as increase its market share. ABB has adopted several other strategies such as partnerships, agreements, and expansions to strengthen its market position as well as ensure its future growth in the actuators markets.
Rockwelll Automation is continuously focusing on carrying out innovations and R&D activities to develop software that enable ease of control in carrying out various operations in the manufacturing sector and reduce the overall costs of industrial operations. The company also develops customized servo motor actuators.
MOOG manufactures specialized electric and hydraulic actuators. It is one of the leading suppliers and manufacturers of actuators. The company offers a wide range of products, which adhere to the highest quality standards and utilize cutting-edge technologies. The company has a wide distribution network and has manufacturing facilities in the US, Germany, India, Japan, the Netherlands, Canada, and China, among others. It invests increasingly in R&D activities.
Emerson is a provider of wide range of actuators products. Global presence, R&D and revenue growth are the companys major strengths, even as, decline in increase in liabilities remains a cause for concern. Market for control systems in the US, contract and agreements, and acquisitions are likely to offer growth opportunities to the company. However, competition, cost of labor in the US, and foreign exchange risks could affect its business operations.
SMC is a leading manufacturer of automation systems. It offers a wide range of linear and rotary actuators to cater to the requirements of the automotive, food & beverages, semiconductors, life sciences, and machine tools industries. A major part of its revenue is generated from Japan. The company invests steadily in R&D activities. For instance, in 2020, it invested 3.4% of its total revenue in R&D activities. SMC has manufacturing facilities and sales offices in the US, Japan, and Europe. As it majorly depends on Japan for revenue generation, any fluctuations in the market of the country may affect its sales.
Robotics and Automation Actuators Market by Actuation (Electric, Pneumatic, Hydraulic), Application (Process Automation, Robotics), Type, Vertical (Automotive, Electronics, Healthcare), Design Characteristics & Region - Global Forecast to 2027
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