Pune, India, Sept. 09, 2021 (GLOBE NEWSWIRE) -- According to the report, Automotive Actuators Market size is to grow at moderate growth rate during forecast period of 2021 to 2028. Leading Companies such as BorgWarner to Focus on Next Generation Cam Torque Actuator. The global automotive actuators market size is expected to gain momentum owing to the rising adoption of automation systems during the forecast period.
The need for fuel-efficient automobiles is increasing due to high pressure from international governments and rising oil and energy prices. Since the above causes came into play, the growth of the automotive actuators industry has boomed. The growing market for fuel-efficient automobiles and the rising demand for innovative actuator goods among consumers are driving major companies to engage in research and development. Kierkert AG, for example, released a new charging-plug actuator for plug-in hybrid automobiles.
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Severe Economic Impact to Dampen Business amid COVID-19 Outbreak
The global outbreak of covid-19 has left businesses concerned about their prospects, as the extended lock-down has resulted in a severe economic downturn. The current COVID-19 pandemic has wreaked havoc on most industries that use actuators, including agriculture, medical, transportation, engineering services, and food and beverage. Aside from the healthcare industry, practically every other industrial sector has experienced a decline.
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By type, the automotive actuators market is segmented into hydraulic, electric, and pneumatic. On the basis of application, the market is segregated into the throttle, fuel injection, brake, and others. On the basis of vehicle type, the market is categorized into passenger cars and commercial vehicles. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.
High Production of Passenger Cars to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global automotive actuators market share during the forecast period. This is due to the increasing demand for passenger cars and the installation of safety sensors in vehicles. China is the world's largest vehicle manufacturer, which is projected to significantly influence the region's market growth. Furthermore, China has the ability to create vast quantities of automobile components at a reduced cost, giving it a competitive advantage over other countries. Mini-electric actuators, which help headlights track and illuminate the road while on the move, are the most recent invention in the Chinese market. Many high-end models come with this feature.
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Increasing Technological Advancement to Stimulate Growth
The increasing demand in electric segment is expected to boost the global automotive actuators market growth during the forecast period. Electronic actuators are mainly replaced with hydraulic and pneumatic actuators due to their lower traffic noise, simple structure, and versatile configuration options. In the automotive business, comfort features have become a global demand, and OEMs are putting up their best efforts to improve the driving experience through the formulation of new actuators. Window lift drives, power tailgate drives, seat drives, and sunroof drives are all examples of comfort-feature actuators that utilize electric actuators. Electric actuators are more precise than hydraulic and pneumatic actuators in terms of actuation.
Major key Players studied in report:
- Valeo S.A.
- Mitsubishi Electric Corporation
- Denso Corporation
- Robert Bosch GmbH
- Wabco Holdings Inc.
- Stoneridge Inc.
- Hitachi Ltd.
- Johnson Electric Holdings Limited
- Nidec Corporation
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Global Automotive Actuators Market Segmentation:
By Type:
- Hydraulic
- Electric, Pneumatic
By Application Type:
- Throttle
- Fuel Injection,
- Brake, Others
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Geography
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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