The Global Automotive Actuators Market size is projected to grow at a CAGR of 8.9 % during the forecast period to reach USD 38.3 billion by 2026.
The use of actuators has grown tremendously because of technological advancements in the automotive industry like advance driver assistance system (ADAS), autonomous vehicle, lane keep assist, automated brake assists and more. In modern vehicles features like advanced driver assistance system (ADAS), adaptive front-lighting system (AFS) and adaptive cruise control (ACC) are deployed.
Automotive actuators are transducers that convert energy into motion. Their primary responsibility is to control different mechanisms in vehicles like controlling doors, applying brakes, regulating the lights and more. In automotive these devices control a range from simple switch to high power hydraulic devices and valves. Different motors such as linear motor, permanent magnet DC motor and stepper motor control the actuators. The major factors which are triggering the growth of the market are growing automotive market and introduction of new CO2 emission rules in developed and developing economies.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Automotive Actuator market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. Also, the attractiveness of the market has been presented By Region, Automotive Actuator Type. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
The Tesla’s $250,000 supercar to Ford’s electric F-150, these are the 18 coolest EVs set to hit the streets.
Ford warned that the chip shortage alone could reduce earnings by $1 billion to $2.5 billion this year. General Motors put its number at $2 billion. While Honda didn't put out a dollar figure, it warned last month that it expects to sell about 100,000 fewer vehicles worldwide this year solely because of the chip shortages.
Google and Ford are teaming up in an alliance to meet reinvent virtually The Android-based operating system while, will be able to monitor a vehicle once it’s out on the road, warning owners if there’s a mechanical problem developing while also advising them if it’s time for service, even automatically setting up a dealer appointment.
Hella expanded its electronics competence in the area of special applications. The company expanded its product spectrum ranging from actuators, sensors, and energy management through body electronics right up to driver assistance systems. Universal Rotary Actuator (URA) in the agricultural sector is expected to play a significant role in this development.
Continental announced the ground-breaking of its greenfield plant in Talegaon, Pune, dedicated to its powertrain business. EUR 30 million is to be invested in infrastructure and building. The construction phase has already been initiated. Production start is scheduled for various drivetrain products, including engine management systems, sensors, and actuators, as well as fuel and exhaust management components for passenger cars, 2-wheelers, and commercial vehicles.
Owned by Metair Investments Limited, announced the establishment of DENSO Sales South Africa (Pty) Limited, a joint venture dedicated to selling aftermarket products and services in Southern Africa. South Africa has one of the largest economies in Africa, and car ownership is the highest in the region. DENSO established DENSO Sales South Africa to sell repair parts and accessories and offer services such as repairs for passenger cars and commercial vehicles in South Africa and neighboring countries.
BorgWarner introduced its next generation of cam torque actuators—intelligent cam torque actuation (iCTA)—delivering better fuel economy and reduced emissions with its innovative technology. iCTA combines benefits of cam torque actuation and torsional assist. This technology is expected to first appear on a variety of vehicles from two major vehicle manufacturers in China and North America.
The global Automotive Actuator market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Bosch, HELLA, Schaeffler, Denso, Inteva Products, Valeo, Rheinmetall Automotive, Magna International, Mahle, Stoneridge, Magneti Marelli, Mitsubishi Electric, Johnson Electric, Hitachi, Knorr-Bremse, Woco Industrietechnik, Continental, NTN, Aisin Seiki, Haldex (BorgWarner), Alfmeier Praezision, Eaton, Hyundai Kefico, Murakami, Harada Industry, Inzi Controls, EKK, NOK, Dongfeng Motor, APC International, Ltd., CTS Corporation, CVEL Automotive Electronics, Delphi Automotive PLC and others.
-Increase in investments, especially in the European region is expected to drive growth of the global Automotive Actuator Market.
-Increase in government regulations for fuel-efficient vehicles in the developing economies is boosting the market
-Low Preference for Diesel Passenger Cars is expected to restrain the growth of the market.
Automotive Actuator market is segmented based on the type, applications, companies and regions.
Seat actuators segment dominates the market contributing more than 20% of the total market share and Demand for passenger vehicle occupied the largest market, with 65% share.
The market in the Asia-Pacific region is expected to grow at a faster pace, with India, Japan, and China stepping toward becoming automotive component manufacturing hubs and supplying to countries, such as the United States and Germany. The increasing sales of both passenger cars and commercial vehicles is driving the market.
Asia Pacific is expected to be the largest market, followed by Europe and North America. China is estimated to dominate the Asia Pacific automotive actuator market with the largest revenue share during the forecast period. China is the world’s largest vehicle manufacturer, which is expected to be a driving factor for the growth of this market in the country. Moreover, China has the potential to produce automotive components in large volumes at a lower cost, which provides it a competitive edge over other countries.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2025.
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.