Global Automotive Actuators Market is expected to generate new opportunities and grow at an impressive growth rate during the forecast period.
The market is being
driven by the growth in vehicle adoption around the globe and the rising demand
for vehicles with fuel-efficient powertrains.
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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