I have this arrangement of actuators and want to decrease the number of power supplies from 4 to just one.
To mention the servos are regular Tower pro mg995 and I am new to buck boost convertors, so a diagram or schematic would help.
Thank you.

 

The strictest interpretation of you requirement is impossible. If your requirements will allow one power supply connected to the mains and one or more DC-DC converters then it is possible but it may not be practical. It all comes down to the required current demands which I only see some specifications for. Any mistake in estimation or change in requirements may have consequences for a redesign of the entire system.

Let me start with the immutable rule of DC-DC converters: The power out will always be less than the power in. Sometimes it will be much less. Each converter will have an efficiency associated with it. You use this efficiency figure to estimate the power needs for each voltage and current combination. Start with your power requirements and we can work from there.

 

I was thinking of using a 10 amps 24 volt power supply and use buck converters to regulate the output for my servos, using these many power supplies is not challenging right now but I plan to scale this implementation and if that happens I will have to make a separate space but more than required psu's.
I have a 12 volt 8 channel power supply so I think that is fine with me as I can hook up more steppers to it. But I am not able to find a power supply unit that is capable of providing multiple outputs of 24 volts while still giving 2.5 to 3 amps of current, if you have anything like that on your mind please share that with me, I would really hope to buy that for my project.

 

I was thinking of using a 10 amps 24 volt power supply and use buck converters to regulate the output for my servos, using these many power supplies is not challenging right now but I plan to scale this implementation and if that happens I will have to make a separate space but more than required psu's.
I have a 12 volt 8 channel power supply so I think that is fine with me as I can hook up more steppers to it. But I am not able to find a power supply unit that is capable of providing multiple outputs of 24 volts while still giving 2.5 to 3 amps of current, if you have anything like that on your mind please share that with me, I would really hope to buy that for my project.

Here is the thing about SMPS for motor drive applications. You have to evaluate their suitability for handling load transients, like when you turn a motor on. Starting a motor can take up to 4 times the steady state running current. Many SMPS are not well suited to that task. You should evaluate candidate SMPS very carefully.