According to TechSci Research report, “Automotive Actuators Market – Global Industry Size, Share, Trends, Competition, and Forecast and Opportunities, 2018-2028”,The Global Automotive Actuators Market is expanding due to the increasing number of sophisticated automated systems in cars and the increasing number of electric vehicles on the road today. The global market for automotive actuators is anticipated to expand at a consistent CAGR throughout the forecast period. The market has been divided into three categories based on the kind of vehicle: passenger automobiles, light commercial vehicles, and heavy commercial vehicles. Owing to rising consumer demand and wealth, the passenger vehicle industry is anticipated to develop at the quickest rate through 2028.
The major manufacturers are being compelled to spend in R&D efforts by the increased consumer demand for improved actuator goods and fuel-efficient cars. A new charging-plug actuator, for instance, was just introduced by Kierkert AG for plug-in hybrid automobiles. The actuators are used in engine control to manage idle speed and in air flap control to optimise torque and output. The automotive actuators industry is expanding because of rising consumer awareness of vehicle performance and safety. These parts are used in many automobile components, including headlamp lifts, power windows and mirrors, and windscreen washers/wipers, and they help improve the economy of the vehicle. The expansion of the market is being fuelled by the rising use of these components in passenger automobiles throughout the world.
Actuators are in great demand as autonomous vehicles gain popularity due to their safety features. The market for automotive actuators is seeing substantial growth as a result of the growing use of sensors, control systems, and actuators in autonomous vehicles. The use of these components in self-driving automobiles is encouraged by the industry’s top players. For instance, Volvo and Autoliv announced their collaboration to create a self-driving automobile. The partnership’s goal is to develop decision-making software with safety features that makes use of sensors and actuators. Rising technological developments in the automotive sector, such as IoT and connectivity, need the installation of sensors and actuators in vehicles for improved monitoring and analysis. The expansion of the automotive actuators market is further fueled by the integration of IoT into passenger vehicles, which offers better connectivity and safety features.
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The Global Automotive Actuators Market can be segmented based on type, vehicle type, application, region, and by company. Based on type, the market is further segmented into Pneumatic Actuators, Hydraulic Actuators, Electric Actuators. Based on vehicle type, market is further segmented into passenger cars, light commercial vehicle and heavy commercial vehicle. Based on application, the Global Automotive Actuators Market is further divided into fuel injection actuator, throttle actuator, and brake actuator. Based on region, the market is further segmented into North America, Asia Pacific, Europe &CIS, South America, and Middle East & Africa.
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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