The TechSci Research report titled “Automotive Actuators Market – Global Industry Size, Share, Trends, Competition, and Forecast and Opportunities, 2018-2028” provides a comprehensive analysis of the Automotive Actuators Market. The global market for Automotive Actuators has witnessed significant expansion owing to the proliferation of sophisticated automated systems in vehicles and the increasing prevalence of electric vehicles on the roads. It is anticipated that the market will exhibit a consistent Compound Annual Growth Rate (CAGR) throughout the forecast period.
Definition: Automotive Actuators
Automotive actuators refer to components used in various vehicle systems, including engine control, air flap control, headlamp lifts, power windows and mirrors, and windscreen washers/wipers. These actuators play a crucial role in managing vehicle performance, safety, and fuel efficiency.
Market Dynamics and Industry Trends
The Global Automotive Actuators Market is segmented based on vehicle types, including passenger automobiles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicle segment is expected to witness the fastest growth owing to increasing consumer demand and economic prosperity.
Major manufacturers are compelled to invest in Research and Development (R&D) efforts due to rising consumer expectations for enhanced actuator products and fuel-efficient automobiles. For instance, Kierkert AG recently introduced a new charging-plug actuator designed for plug-in hybrid vehicles. Actuators are utilized in engine control to manage idle speed and optimize torque and output in air flap control, contributing to improved vehicle economy and performance.
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The burgeoning market demand for automotive actuators is attributed to heightened consumer awareness concerning vehicle performance and safety. These components are integral to various automobile systems, contributing to enhanced vehicle economy and performance across multiple components, such as headlamp lifts, power windows and mirrors, and windscreen washers/wipers.
The rising popularity of autonomous vehicles, driven by their safety features, contributes significantly to the demand for automotive actuators. The market for these actuators experiences substantial growth due to the increased integration of sensors, control systems, and actuators in autonomous vehicles. Top industry players leverage these components to enhance the safety and decision-making capabilities of self-driving vehicles. For instance, collaborations between companies like Volvo and Autoliv focus on developing decision-making software utilizing sensors and actuators for self-driving vehicles.
Moreover, technological advancements in the automotive sector, such as the Internet of Things (IoT) and connectivity, necessitate the installation of sensors and actuators in vehicles for enhanced monitoring and analysis. The integration of IoT into passenger vehicles offers improved connectivity and safety features, further propelling the expansion of the Automotive Actuators Market.
Benefits of the Research Report
- Market Insights: Detailed insights into the Global Automotive Actuators Market, providing a comprehensive understanding of market trends and growth opportunities.
- Forecast and Segmentation: Forecasts and segmentation based on type, vehicle type, application, region, and company facilitate strategic decision-making for businesses operating in this sector.
- Technology Analysis: Analysis of technological advancements such as IoT and connectivity, providing insights into future industry trends and opportunities.
- Industry Collaboration Trends: Highlights collaborative efforts among industry leaders, showcasing how sensor and actuator integration is driving safety and decision-making in autonomous vehicles.
- Regional Analysis: In-depth analysis of regional markets, including North America, Asia Pacific, Europe & CIS, South America, and the Middle East & Africa, aiding businesses in identifying key market regions and growth prospects.
The Global Automotive Actuators Market is witnessing robust growth propelled by the increasing adoption of sophisticated vehicle systems and the surge in demand for electric vehicles. Actuators play a pivotal role in enhancing vehicle performance, safety, and efficiency across various automobile components. The market continues to evolve, driven by technological advancements, industry collaborations, and the integration of IoT into vehicles, heralding a future marked by innovative automotive solutions and improved safety features.
Some of the major companies operating in the Global Automotive Actuators Market include:
- Valeo S.A.
- Mitsubishi Electric Corporation
- Denso Corporation
- Robert Bosch GmbH
- Wabco Holdings Inc.
- Stoneridge Inc.
- Hitachi, Ltd.
- Johnson Electric Holdings Limited
- Nidec Corporation
- Continental AG
These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with the research and development firms, new product developments, and marketing activities to increase customer outreach. These companies are also focusing on meeting the regulations of different regional governments to stay competitive in the market.
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“Asia-Pacific is the leading region, with Europe and North America coming in second and third, respectively. During the projection period, these regions are anticipated to grow their market penetration as manufacturers are improving their production capacities. And the increase in the adoption of the autonomous vehicles and the rise in consumer awareness is also fueling growth in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Automotive Actuators Market – Global Industry Size, Share, Trends, Competition, Forecast and Opportunities, 2018-2028” has evaluated the future growth potential of Global Automotive Actuators Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive Actuators Market.
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