ROCKVILLE, Md., Feb. 24, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global automotive actuators market is estimated at USD 20.1 Billion in 2022 and is forecast to reach USD 38.3 Billion by 2032, growing with a CAGR of 6.6% during 2022-2032.
The global automotive actuators market was valued at ~US$65.8 Bn at the end of 2019 and is anticipated to surpass US$109.4 Bn during the forecast period 2020-2030. The COVID-19 pandemic has led the automotive market towards a major slowdown worldwide. The sales of automotive actuators have plummeted with the shutdown of production facilities in leading automotive markets of Europe and Asia, thus posing major challenges to the players operating in automotive market.
To overcome this situation, the manufacturers are focusing on research and development to form integrated braking systems which will ensure engine efficiency as well as fuel efficiency. This is anticipated to drive sales of brake actuators during the forecast period. Furthermore, the global demand for automotive actuators will surge by the end of 2020 as they are utilized in number of applications where machineries are involved.
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The automotive actuators plays an important role in actuating applications in brakes and steering system as well as also employed in seat adjustment and headlight positing mechanisms. It is used to convert an electric signal into required rotary and linear motion to create needed physical movement. The automotive actuators demand is mostly driven by increasing electronics system and automation in vehicles.
What is the Scenario for Automotive Actuators Sales in India?
India has a huge demand for passenger cars and presumed to grow with a CAGR of 6.3% over the forecast period due to the rising economy and fixing of safe and technically advanced actuators and sensors in vehicles. This is expected to reach a valuation of USD 3 Billion by 2032. The economies like U.S and Germany purchases several automotive components like actuators and sensors from this region as it is considered as a hub for automotive parts manufacturers.
Why Passenger Vehicles Segment is presumed to Unfold Growth Opportunities for Automotive Actuator Market?
The passenger vehicle is expected to be the fastest moving segment in the automotive actuators market. There is growth in demand for fuel efficient vehicles, moreover rise in price of oil & energy acts as a catalyst factor for market. The passenger vehicles had registered a growth rate of 6.3% CAGR during the period of 2016-2021 and presumed to remain in same growth trajectory, since the above factors came into play. The passenger vehicles segment is likely to reach a valuation of USD 28 Billion by the end of 2032.
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Key Segments Covered in the Automotive Actuators Industry Survey
By Product:
- Waste Gate Actuator
- VGT Actuator
- Throttle Actuator
- Brake Actuator
- EGR Actuator
- Power Seat Actuator
- Grille Shutter
- HVAC Actuator
- Headlamp Actuator
- Others (Quick Attach, Hood Lift, etc.)
By Vehicle:
- Passenger Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
By Working:
- Pneumatic
- Hydraulic
- Electromagnetic
- Gear Motors or Electric
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Competitive Landscape
Fact.MR profiled the following key automotive actuator manufacturers in its report are, Delphi Automotive, Mitsubishi Corporation, Denso Corporation, Robert Bosch GmBH, Continental AG, HELLA GmBH & Co. KGaA, Johnson Electric Holdings Limited, CTS Corporation, CVEL Automotive electronics, Hitachi Ltd., Dover Flexo Electronics, Inc., Tolomatic Inc., Kenko E Motion And Actuators and Creative Motion Control are identified as key players manufacturing automotive actuators.
To increase the adoption across the lucrative areas, the above mentioned companies’ uses a combination of organic & inorganic methodologies, in addition to partnerships and collaborations with prominent end use verticals such as automotive manufacturers.
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Key players in the Automotive Actuators Market-
- Delphi Automotive
- Mitsubishi Corporation
- Denso Corporation
- Robert Bosch GmbH
- Continental AG
- BorgWarner Inc.
- CTS Corporation
- Delphi Technologies Pl
- HELLA KGaA Hueck & Co
- Hitachi, Ltd
- Johnson Electric Holdings Limited
Key Takeaways from the Market Study
- Under the impact of Covid-19, global automotive actuators market is expected to create an absolute $ opportunity of more than ~US$ 44.5 and is anticipated to expand 1.7X from 2020 through 2030
- VGT actuator is projected to grow at a value CAGR of 5.4% and is expected to be valued 2.9X more than EGR actuator by the end of 2020
- APEJ region is anticipated to be the market leader in the global automotive actuator market by the 2030 end with more than 39% market share in terms of value
- Aftermarket sales channel is projected to grow 1.6X faster than OEM sales channel and is anticipated to create an absolute $ opportunity of more than ~US$ 27.1 Bn during the forecast period.
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