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(I-AutoNewsWire.com, December 24, 2019 ) The Global Automotive Actuators Market size is projected to grow at a CAGR of 7.1% during the forecast period, to reach USD 39.5 billion by 2027 from an estimated USD 22.8 billion in 2019. Rising automation and digitalization in the automotive industry are increasing the demand for vehicles with advanced features and connectivity.
The modern passenger vehicle is equipped with more than 120 motors to control various applications such as headlight positioning, seat adjustment, grill shutter, HVAC systems, and coolant and refrigerant valves, among others. Actuators play a key role in activating these applications as they convert an electric signal into the required linear and rotary motion to produce the required physical movement.
With advancements in technology, autonomous vehicles are expected to install various actuators to enhance safety and comfort. The automotive actuators market is growing continuously due to the constant growth in production as well as sales of automobiles (passenger cars, LCVs, HCVs, and off-highway vehicles) across the globe. Sensors, software programs, controller hardware, and actuators are considered to be the backbone of the present and future automotive systems.
The global automotive actuators market is dominated by major players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation(Japan), and HELLA GmbH & Co. KGaA (Germany).
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Off-highway vehicle segment is estimated to be the fastest during the forecast period
The off-highway vehicle segment is anticipated to be the fastest in the automotive actuators market. Increasing government investments in infrastructural development, thriving agricultural businesses in developing nations, and the emergence of leased/rent-based equipment are driving the off-highway vehicle market. The traditional role of actuators in off-highway vehicles has involved the application of force to perform tasks. As vehicles become complex, OEMs are accumulating features that naturally involve the use of electronic controls to deliver more complex, optimized, and safer motion.
The electric segment is expected to grow at the highest CAGR in the global automotive actuators market
Electric actuators have replaced hydraulic and pneumatic actuators due to lower noise emission, compact and lightweight design, and flexible installation options. Comfort features have become a global requirement in the automotive industry, and OEMs are investing the best possible efforts in enhancing the driving experience by the installation of various actuators.
Electric actuators are widely used in comfort-feature actuators such as window lift drive, power tailgate drive, seat drive, and sunroof drive, among others. Electric actuators are more precise in actuation than hydraulic and pneumatic actuators. Leading automotive actuators manufacturers such as Robert Bosch GmbH, Continental, and Johnson Electric provide electric actuators.
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The Asia Pacific is expected to be the largest automotive actuators market during the forecast period
Asia Pacific is expected to be the largest market, followed by Europe and North America. China is estimated to dominate the Asia Pacific automotive actuators 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 the automotive actuators 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.
• Many companies and startups are operating in the automotive actuators space across the globe. Do you know who the front leaders are, and what strategies have been adopted by them?
• Fast-paced developments in automotive actuators such as piezoelectric actuators and electric actuators by leading manufacturers will change the dynamics of automotive actuators. How will this transform the overall market?
• The industry is focusing on developing comfort actuators for the automotive actuators market. Which are the leading companies who are working on comfort actuators, and what organic and inorganic strategies have been adopted by them?
• The adoption of electric actuators over hydraulic and pneumatic actuators is expected to change the dynamics of automotive actuators. How will this transform the overall market?
• Analysis of competitors in the automotive actuators market and their impact on the overall automotive actuators market
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Mr. Shelly Singh