Dublin, Feb. 29, 2024 (GLOBE NEWSWIRE) -- The "Automotive Actuators Market for ICE and Electric Vehicle by Product Type (Brake, Throttle, Turbo, and Others), Application (Engine, Body Control & Exterior, Interior), On- and Off-highway Vehicles, Actuation, Motion and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Automotive Actuators Market is estimated to grow from USD 20.9 billion in 2023 to USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period. Growing luxury car & SUV sales in developed countries, increased production of vehicles equipped with driver assistant features, and increased focus on safety with Global NCAP ratings encourage OEMs to focus on developing automotive actuators for various applications.
The key players in the automotive actuators market are Robert Bosch (Germany), HELLA GmbH & Co. KGaA (Germany), Johnson Electric (China), Denso Corporation (Japan), and Continental AG (Germany).
Brake Actuators are dominating the automotive actuators market
The brake actuators segment is projected to dominate the automotive actuators market due to its mandatory fitment in all types of vehicle segments and the high cost of these actuators compared to other types. The usual number of brake actuators is 4 in passenger cars, and light commercial vehicles installed one unit per wheel. Improving the safety and convenience of passenger vehicles is the prime focus of government bodies and OEMs worldwide. Due to this, stringent safety regulations have been implemented in different locations. Due to this, advanced brake technologies such as Anti-lock braking system (ABS), Electronic Brakeforce Distribution (EBD), Brake Assist, etc. are becoming mandatory in most countries.
Further, the European Union mandated the installation of emergency braking systems in passenger cars and LCVs to prevent mishaps, a part of ADAS technology. Additionally, advancements are taking place in brake technologies, such as brake-by-wire systems and regenerative braking systems, which improve the performance and safety of braking systems and the fuel efficiency of vehicles. These factors, regulations, and some additional safety features are attributed to the growth of the efficient brake actuators segment in the upcoming years.
Alternatively, the average count for brake actuators in heavy commercial vehicles is much higher and costlier. The heavy commercial vehicles' air disc brake systems are getting increasingly popular due to their better stopping capabilities. This will prompt the manufacturers to offer innovative solutions with brake actuators in every size and performance level, like brake actuators for air disc brakes and drum brakes, which will drive the automotive actuators market.
Passenger cars are the largest and fastest growing on-highway vehicles segment in the automotive actuators market
The passenger car segment is estimated to be the most promising and fastest market for automotive actuators. The growth is mainly attributed to the highest share of the passenger cars segment, with more than 70% in overall vehicle production. The growing adoption of mechanical and electronic components propels the automotive car actuators market. Passenger vehicles are equipped with some standard actuators that are mandatorily installed, such as throttle body, engine cooling valve, brake, air conditioning, and power windows across all categories. Further, the shifting trends towards engine downsizing and GDI engines will prompt the demand for turbo and exhaust gas recirculation (EGR) system actuators.
Further, developed countries of Europe, North America, and Asian countries such as Japan and South Korea, with higher disposal income and strong demand for mid-range, premium, and full-size SUVs, incline comfort and luxury features. This will drive the demand for advanced features such as powered seats, multi-zone air conditioning, 2nd and 3rd-row air conditioning, electric tailgate, door locks, active grille shutters, and passive and active cabin ventilation will strive to adopt automotive actuators for these applications in passenger cars segment. Further, government initiatives such as the European New Car Assessment Program (Euro NCAP) and Vision Zero have compelled OEMs in Europe and other developing countries of Asia, such as China and India, to follow European norms to include advanced safety features, which will likely to boost the demand of automotive actuators in the passenger cars segment.
Asia Pacific is a prominent region in the automotive actuators market
Asia Pacific is the most prominent automotive actuators market and is expected to grow at the fastest CAGR during the forecast period. The Asia Pacific region has emerged as a hub for automotive production in recent years and holds the largest share in global vehicle production, with more than 55% in 2022. The considerable vehicle production in the region offers a tremendous growth opportunity for the automotive actuators market. Also, growing demand for premium and luxury cars and increasing sales of electric vehicles in countries like China, India, and Japan are propelling the growth of automotive actuators. Also, premium heavy-duty vehicles with superior cabin comfort have spurred the demand for automotive actuators like power seat actuators, power window actuators, brake actuators, and steering column adjustment actuators. In the Asia Pacific region, brake actuators account for the largest market share due to the largest share of passenger cars compared to other regions.
In contrast, telescopic actuators are expected to grow with the highest CAGR owing to their application in various systems of automotive vehicles, such as steering systems, headlight actuation systems, truck lid actuation, etc. Also, the increasing sales of light and heavy commercial vehicles are driving the telescopic actuators market with the highest CAGR owing to its application in various systems of automotive vehicles such as steering systems, headlight actuation systems, truck lid actuation, etc. Many global manufacturers of actuators have a strong presence in the Asia Pacific region, such as Robert Bosch, HELLA GmbH, Brakes India Pvt. Ltd.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 345 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $20.9 Billion |
| Forecasted Market Value (USD) by 2030 | $29.3 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Rising Stringency in Vehicle Emission Laws
- Increasing Demand for Fuel-Efficient Vehicles
- Growing Production of Premium Vehicles
- Growing Demand for Advanced Automation Systems
- Restraints
- Declining Share of Diesel Passenger Cars
- Opportunities
- Rising Demand for ADAS Features with Use of Actuators
- Increasing Demand for EVs
- Challenges
- Vehicle Weight and Cost Reduction
Technology Analysis
- Smart Actuators
- Microelectromechanical Systems (MEMS)
Companies Profiled
- Actuonix Motion Devices
- Actus Manufacturing Inc.
- APC International, Ltd.
- Borgwarner
- Cebi International Sa Group
- Continental AG
- CTS Corporation
- Denso Corporation
- EFI Automotive
- Hella GmbH & Co. KGaA
- Hitachi Automotive Systems Ltd.
- Hoerbiger Holding AG
- Johnson Electric
- Magnetic Marelli
- Mahle GmbH
- Mitsubishi Electric Corporation
- Nidec Corporation
- Nook Industries Inc.
- Robert Bosch
- Stoneridge Inc.
- Thermotion
- Tolomatic, Inc.
- Valeo SE
- ZF Friedrichshafen AG
For more information about this report visit https://www.researchandmarkets.com/r/mewcf5
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