Which term describes the component or components of an artwork that give the sensation of action

Movement. It is one of the Principles of Art.

Movement is a principle of design found in an artwork wherein its usage is to give the sensation of action by creating the look and feel of an action within the artwork. The movement found within the artwork will guide the viewer's eye to see the artwork as a whole and not by its pieces.

Other Principles of Art are Rhythm, Balance, Emphasis, Proportion, Gradation, Harmony, and Variety.