Automotive Actuators Market- Development of Electric Technologies to Enhance Deployment
The automotive actuators market has been analyzed in detail to offer definitive forecast insights on the market for the period 2018-27. This report is an exhaustive compilation of a detailed overview of automotive actuators market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth.
[ClickPress, Tue Jun 11 2019] The automotive actuators market has been analyzed in detail to offer definitive forecast insights on the market for the period 2018-27. This report is an exhaustive compilation of a detailed overview of automotive actuators market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth, also shedding light on other relevant factors that direct future prospects of the market trajectory.
The market is estimated to register 6.1% CAGR during the forecast period, 2017-2022. Owing to the better performance, consistency, and saving energy, actuators in the automotive industry are gaining a lot of traction. With increasing use in cars, manufacturers are also providing a new and improved form of actuators, thereby eliminating fluid leaks and improving energy efficiency. Mini electric actuators are also being used in automotive sensor system and advanced driver assistance system.
Emergence of fuel efficient vehicles on the back of exponential rise in environment protection initiatives globally, sets automotive actuator market on optimistic growth trajectory. Consumer tendency for owning lightweight vehicles and preferences for downsized engines with superlative fuel efficiency necessitates adoption of automotive actuators to adequately convert energy from hydraulic fluid, electric current, and pneumatic pressure into mechanical motion. Across emerging economies such as India where population also continues to remain very high, demand for passenger vehicles for seamless transportation is augmenting voluminous production of automotive. Besides rising car ownership, passenger cars and notable popularity of carpooling and share-riding trends are likely to supplement rapid adoption of automotive actuators in subsequent times.a
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Developed economies such as North America and Europe continue to remain mature markets for automotive actuators. Stringency in road safety and environment protection have catapulted integration of advanced features such as safety sensors, impact sensors, anti-theft, and parking sensors, thereby cradling ample growth opportunities for automotive actuators market. On the back of surged vehicle theft, federal governments have promoted stringent vehicle protection norms thereby mandating adoption of immobilizers for advanced security performance. Australia has emerged as a pioneering region for the same, allowing growth and expansion in automotive actuators market.
Highlights on Global Automotive Actuators Market
- Asia-Pacific Excluding Japan (APEJ) is likely to emerge as the dominating market in the global automotive actuators market. Witnessing a robust growth, APEJ is estimated to exceed US$ 7,300 million revenue by the end of 2022. Stringent regulations on emission and fuel consumption in the automobile industry in various countries in APEJ are driving the growth of automotive actuators in the region. Meanwhile, Japan is also moving towards becoming a hub for automotive component manufacturing.
- Europe and North America are also likely to emerge as the lucrative markets for automotive actuators. Owing to the rising environmental concerns and the fast adoption of innovative technologies are some of the factors contributing to the growth of automotive actuators in Europe and North America.
- The waste-gate actuator is likely to be one of the most lucrative products in the global automotive actuators market. By the end of 2022, waste-gate actuators are estimated to surpass US$ 3,300 million revenue. Meanwhile, power seat actuators are also anticipated to witness steady growth during the forecast period.
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Automotive Actuators Market- Safety Hungry Consumers
Developments in automotive actuators market is fueled by the growing safety preference of consumers. Adoption of new technologies to make actuator functioning accurate and efficient happens to be a trend in the market. In developed regions, such as Western Europe and North America, increased demand for automobiles, the government and ruling authority have imposed stringent regulations to ensure the safety of the driver. Increasing demand for safety sensors, such as seat belt tension, impact sensors, anti-theft, parking sensors, etc. is creating significant opportunities for the manufacturers, contributing significantly to the growth of both automotive sensors and actuators market.
The report has also profiled leading players in the global market for automotive actuators, which will remain active through 2022. These include companies such as Continental AG, Robert Bosch GmbH, Mahle Group, Denso Corporation, Mitsubishi Heavy Industries Ltd, Delphi Automotive PLC, Hitachi Ltd, Johnson Electric Holdings Limited, and Nidec Corporation.
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