Automotive actuators market was valued at USD 22.8 billion in 2019 and is estimated to register a substantial CAGR of over 7.1% during the forecast period, 2021–2028. The growth of the market is attributed to its rising demand for fuel efficient vehicles, increase in price of energy and oil and continuous pressure and regulations from government bodies. Furthermore, these actuators aid in reducing road fatalities and in fuel pumps, electronic parking brake and head light lifts.
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The actuators drive motion and force in a variety of applications such as operating low power switches, flaps, valves and high-power hydraulic devices. The automotive actuators have undergone several technological advancements with time and have evolved from simple mechanical actuators to electronic EGR system, electronic brake system, electronic throttle body, active grill shutter and power seats.
The Covid-19 pandemic had an unpleasant impact on the automotive actuators market. The production has been on halt and both the demand and supply ware affected. The market suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for automatic hydraulic transmission systems is estimated to boost the market growth during the forecast period.
- Growing production of high-end cars, rising disposable income and increasing demand for automobiles is projected to drive the demand for actuators.
- growing trends and shifting customer preferences for more safety and comfort, from manual to semi-automatic or fully automatic transmission system is estimated to spur the market growth in coming years
- Rising use of embedded electrical systems in vehicles is projected to drive the demand for actuators, which in turn, boost the market growth.
- Rising consumer awareness regarding adoption of automobiles that are fuel-efficient and give high performance is a major factor driving the growth for the market of actuator.
- Technological advancements and innovations in actuators in order to enhance the vehicle fuel efficiency are estimated to spur the market growth in near future.
- High repair costs and replacement of actuators is expected to impede the market growth.
- Startup, assembly and maintenance of automotive actuators require large space which is anticipated to hinder the market growth.
- R&D investment and technological advancement in automotive actuators market are expected to offer lucrative opportunities for the market players.
Market Segment insights
The throttle actuator segment is projected to constitute a large market share
Based on application type, the automotive actuators market is segregated into throttle actuator, seat adjustment actuator, brake actuator, closure actuator and others. The throttle actuator segment is expected to account for a key share of the market during the forecast period owing to its application in noise optimization, reducing fuel consumption and engine ware and tear by escalating the engine RPM. The throttle actuator implicates the conversion of the mechanical force applied on the accelerator pedal, into consistent throttle control, which involves suitable opening of the throttle valve, in the engine combustion chamber.
Passenger car segment is expected to register a substantial CAGR
Based on vehicle type, the automotive actuators market is divided into passenger car and commercial vehicle. The passenger car segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to continuously variable transmission passenger vehicles and rising demand for automatic hydraulic transmission.
Asia Pacific is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to expand at a robust CAGR during the forecast period. . Increasing demand for sedan class, sports sedan and high-performance cars in this region are anticipated to boost the market growth over the coming years.
Compititive Landscape
Key players competing in the automotive actuators market include Continental Ag, Cvel Automotive Electronics,Denso Corporation , APC International, Ltd., Iav Automotive Engineering, Magneti Marelli S.P.A., Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo S.A., Timotion Technology Co. Ltd., Buehler Motor Inc., CTS Corporation, Delphi Automotive Plc., Firgelli Automations, Hitachi, Ltd., Hella KGaA Hueck & Co., Johnson Electric Holdings Ltd., Marsh Automation, and Nook Industries, Inc.
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The Automotive Actuators Market 2021 research report gives emerging industry data, global segments and regional outlook.
This report covers up all details such as size, share, value, growth, restraints, and opportunities for the year 2020 to 2027.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the automotive actuators market include Actus Manufacturing, Inc., Continental AG, Delphi Automotive LLP, DENSO CORPORATION, Dover Flexo Electronics, Inc., HELLA KGaA Hueck & Co., HOERBIGER AMERICA HOLDING, INC, Johnson Electric, Mitsubishi Electric Corporation, Precision Motors German Minebea GmbH, and Thermotion, LLC.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
The Global Automotive Actuators Market research study published by Emergen Research is an extensive collection of insightful information about the Automotive Actuators industry.
The report covers the Automotive Actuators Market segmentation along with a detailed outline of the Automotive Actuators market size with regards to volume and valuation.
The report provides comprehensive coverage of the Automotive Actuators market scenario for the current period and forecast timeline of 2020-2027 The global Automotive Actuators Market is projected to reach USD 41.09 billion by 2027, according to a recent report by Emergen Research.
Rising automation and medical aid within the automotive trade area has been increasing the demand for vehicles with advanced options and property.Market Dynamics:The report offers insightful information about the market dynamics of the Automotive Actuators market.
It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Automotive Actuators market, competitive landscape, factors affecting it, and to predict the growth of the industry.
It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Automotive Actuators market.Get a sample of the report @https://www.emergenresearch.com/request-sample/137 Table of Contents:Chapter 1 includes an introduction of the global Automotive Actuators market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.Top competitors of the Automotive Actuators Market profiled in the report include:CTS CorporationDelphi Automotive PLCDenso CorporationHitachi, Ltd.Johnson Electric Holdings Ltd.Mitsubishi Electric CorporationCVEL Automotive ElectronicsKey Points of Automotive Actuators Market:Extensive coverage of the analysis of the Automotive Actuators marketKey insights into the regional spread of the industry in key geographiesRadical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the marketComprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Automotive Actuators marketComplete data about the key manufacturers and vendors in the Automotive Actuators marketTo know more about the report, visit @ https://www.emergenresearch.com/industry-report/automotive-actuators-marketThank you for reading the report.
Market OverviewIn its research report, Market Research Future (MRFR), emphasizes that the Global Automotive Actuator Market 2020 is expected to grow exponentially over the review period, securing a substantial market valuation and a healthy 8% CAGR over the review period.Drivers and RestraintsAutonomous vehicles are poised to install various actuators with advances in technology to improve safety and comfort.
Automotive actuators improve vehicle efficiency and performance by supporting engine flywheel rotations, controlling engine idle speed, engine torque, among others, which is likely to boost growth opportunities on the market for automotive actuators.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/2126The technological developments, increased research & development activities, huge investments by key players, among others, would further propel the development of the market over the evaluation period.
The increased use of electronics in the automotive industry is likely to fuel the growth of the demand for automotive actuators over the next few years.The market for actuators is expected to grow, as manufacturers are now focused on making automated systems that will require actuators.
Increasing a wide variety of applications in industries where high machinery entails increased global demand for actuators.
The electric actuator segment is slated to witness massive demand due to its large-scale deployment in the automotive sector.By application type, the global automotive actuators market is divided into the throttle actuator, brake actuator, fuel injection actuator, and others.By vehicle type, the automotive actuators market is segmented into Light Commercial Vehicles (LCV), passenger cars, and Heavy Commercial Vehicles (HCV).Browse complete report @ https://www.marketresearchfuture.com/reports/automotive-actuators-market-2126Regional AnalysisThe geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.The global Automotive Actuator Market trends was segmented by region into North America, Europe, Asia Pacific, and the Rest of the World.
Asia Pacific is expected to be the global market leader for automotive actuators.
