Christy Publications Robotics and Automation Actuators Market | Page 2

Increasing investments in automation across industry verticals as well as increasing demand for
industrial robots as well as process automation in the different industrial verticals are key factors
estimated to drive growth of the global robotics and automation actuators market to a certain
extent. For instance, in August 2018, Rockwell Automation received a contract from the National
Copper Corporation, Chile to supply control systems for the Chuquicamata underground mine
at US$ 50 million. This contract includes the configuration, supply, and assembly of four systems,
which comprise mine control systems.
However, the formulation and stringent implementation of various regulations to ensure
reduced power consumption & increased the safety is expected to restrain growth of the global
robotics and automation actuators market during forecast period.
Moreover, high installation and operational cost of robotics and automation actuators is
projected to hamper growth of the global robotics and automation actuators market during the
forecast period. Maintenance and operating costs include, an air-line installation and
maintenance, replacement cylinder costs, and electricity for the compressor. According to the
U.S. Department of Energy, in 2018, around 24% of the annual cost of compressed air is due to
cost of equipment, maintenance, and installation, while 76% is due to the cost of electricity for
compressor.
Global Robotics and Automation Actuators Market: Regional Insights
On the basis of geography, the global robotics and automation actuators market is segmented
into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The robotic and
automation actuators market in Asia Pacific is growing at a significant rate and this trend is
expected to continue during the forecast period. Asia Pacific has witnessed rapid economic
development in the recent past, resulting in an increase in maritime trade. Electronics and
electrical industries in countries such as China and Japan, have led to increase in demand for
robotics and automation products and services. This in turn is expected to lead to high demand
for robotics and automation actuators.
Furthermore, development of cost-effective and advanced robotics and automation actuators
and increasing demand for industrial robots and process automation in different industrial
verticals are some of the opportunities impacting growth of the robotics and automation
actuators market in Asia Pacific. For instance, in 2017, AV Actuators announced the launch of
new 60 Series and 110 Series actuators. This series offers a cost effective entry level model, with
features such as manual override, heater, and end of travel limit switches as a standard. These