Robotics and Automation Actuators Market Size, Share, Growth Analysis, By End-use(Aerospace & Defense, Automotive, Construction, Chemicals), By Type(Hydraulic, Pneumatic, Electric, and Others), By Motion(Linear and Rotary), By Region - Industry Forecast 2024-2031

Drivers

Rise in Industrial Infrastructure

• The trend towards automation has increased with the availability of robotics, artificial intelligence and machine learning. Actuator is the most important component used in all actuation systems and helps in automating various processes and processes in automotive, construction, agriculture, food, transportation, medical industries The rise of industrial automation is expected to market growth through the projection period. Another factor driving the rise of industrial automation is the growing population. The growing population of the world is another factor driving the demand for automated technologies. Additionally, the need to meet the demands of the growing population has led manufacturers to develop automated products to help manufacture more products, expected as industrial robots widespread use to speed up processes and reduce human errors in manufacturing will boost market growth

Increased Commercial Air Traffic

• Actuators are used in various aircraft components such as landing gear, control aircraft, seats, doors, and more. Therefore, a new aircraft production increase will drive the demand in the coming years. In recent years, high economic growth in emerging economies such as India, Africa, China and other developed countries has increased the demand for air travel. This demand has led to an increase in commercial aircraft exports, which in turn is expected to boost the market growth.

Restraints

High Installation Cost

• The high cost of installation poses significant challenges to the industrial robotics market. While the actuators themselves can be expensive, the costs associated with integrating them into robotic systems can be significant. These include engineering, design, customization efforts, and skilled labor which is required. These costs can deter potential buyers, especially small businesses or those with limited resources, and can lead to long-term ROI. Therefore, it is important to reduce the installation cost and simplify the integration process to make robotic manufacturing accessible and attractive to customers.

High Maintenance Costs

• Hydraulic actuators are difficult to install due to water content. Thus, its installation cost is high during installation, especially for large pipelines. This is expected to restrain the growth of the market. Also, hydraulic operating systems use a liquid medium such as oil or water, and pneumatic operating systems use air to achieve the desired output Oil or water leaks deteriorate and reduce the performance of this product and increase maintenance costs, thus inhibiting the market.