Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "Automotive Actuators Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global automotive actuators market, critical to modern vehicle functions, is projected to reach US$ 40.93 billion by 2030, experiencing significant growth with a CAGR of 6.71% from 2024 to 2030. Automotive actuators, integral to the operation of a myriad of systems from engine management to suspension, are witnessing a dramatic shift with the increasing preference for electric and hybrid vehicles.
Key driving factors for the market include the demand for increased fuel efficiency, enhanced vehicle performance, and improved safety features. The market is also seeing a rise in the adoption of electric vehicles and smart actuators integrated with sensor technology. These advancements are propelling the market forward and are expected to play a crucial role in the future of autonomous vehicles.
The automotive actuators market is segmented by type, vehicle, application, and geography. Among actuator types, electric actuators are challenging the dominance of hydraulic actuators due to their efficiency and precision, especially important in the ever-growing Electric Vehicle segment.
Passenger cars remain the dominant segment in the global automotive actuators market, highlighting the importance of actuators in this sector's growth. The surge in advanced driver-assistance systems (ADAS) contributes to the need for innovative actuator solutions.
The throttle actuator has emerged as a critical application in the market. Its role in managing engine airflow makes it an essential component for fuel efficiency and optimal engine performance.
Market Dynamics Across Regions
- United States: The automotive sector is showing increased interest in electric actuators, driven by the sustainability focus and consumer demand for energy-efficient vehicles.
- Asia-Pacific: Known as an automotive hub, it possesses high growth potential with a significant demand for actuators in various vehicle functions.
Key industry players like Robert Bosch GmbH, Nidec Corporation, Denso Corporation, and others are continuously innovating to stay ahead in the rapidly transforming market.
Companies Mentioned
- Robert Bosch GmbH
- Nidec Corporation
- Denso Corporation
- Johnson Electric
- Mitsubishi Electric Corporation
- CTS Corporation
- Hitachi Ltd.
- Aptiv PLC
- BorgWarner Inc.
For more information about this report visit https://www.researchandmarkets.com/r/v4haag
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