Automotive Actuators Market Size 2022, Industry Share, Growth Revenue, Upcoming Trends and Demand by Regions, Development Strategies Forecast till 2030
Research Reports
Apr 11, 2022
Automotive Actuators Market Scope
The Global Automotive Actuators Market size is projected to expand at a 7?GR over the forecast period. MRFR’s report on the automotive actuators market comprises growth drivers, challenges, and trends on the industry for the forecast period. The COVID-19 pandemic and its implications are explored in depth in the market. The comprehensive report delves into various mechanisms of components in vehicles, impact on supply chain, and regional demand for a broad perspective.
The global automotive actuators market is driven by advances in electric and connected vehicles. Automotive actuators take in energy from electrical and kinetic energy to convert it into motion. It converts electrical energy to mechanical energy and help in regulating engine speed, flywheel rotations, and engine torque. Increasing demand for fuel-efficient vehicles and procurement of actuators can augur favorably for the market.
But high costs of automotive actuators solutions may hamper market growth.
COVID-19 Impact
The COVID-19 pandemic has negatively affected the automotive actuators market. Shutdown of facilities and delay in supply chains has sent a negative shock in the industry. Sluggish interest in the automotive sector owing to control over high spending on luxury items as well as lockdowns by countries can affect market growth.
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Competitive Analysis
Stoneridge Inc. (U.S.), Aptiv PLC (U.S.), Hella KGaA Hueck & Co. (Germany), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and others are key players in the global automotive actuators market. Development of new features and collaborations are to be witnessed in the market. Investments in new facilities such as Continental opening a greenfield facility in India for its powertrain component can be an indicator of the market growth.
Automotive Actuators Market Drivers and Restraints
Autonomous vehicles are poised to install various actuators with advances in technology to improve safety and comfort. The demand for automotive actuators is steadily growing due to the relentless increase in manufacturing and sales of automobiles (LCVs, passenger cars, HCVs, and off-road vehicles) worldwide. Sensors, hardware controllers, software programs, and actuators are considered the foundation of current and future automotive systems. Automotive actuators improve vehicle efficiency and performance by supporting engine flywheel rotations, controlling engine idle speed, engine torque, among others, which is likely to boost growth opportunities on the market for automotive actuators.
The technological developments, increased research & development activities, huge investments by key players, among others, would further propel the development of the market over the evaluation period. The increased use of electronics in the automotive industry is likely to fuel the growth of the demand for automotive actuators over the next few years. The market for actuators is expected to grow, as manufacturers are now focused on making automated systems that will require actuators.
This can also be used in air crafts, and demand is rising as a result of increased air traffic and full automation. Accordingly, actuator demand is growing globally. Increasing a wide variety of applications in industries where high machinery entails increased global demand for actuators. However high costs incurred in producing actuator devices that impede potential actuator market development.
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Automotive Actuators Market Segmentation
Electrical Actuators to Spur Market Growth
Electrical actuators can exhibit a strong growth rate owing to its use in conversion of electrical energy to mechanical energy. The focus on comfort is expected to provide opportunities for electrical actuators. They are used in controlling sunroof, seats, and window lift. It is widely used in the automotive sector. On the other hand, the hydraulic actuator can display a strong demand owing to exhibiting large force for a sustained duration.
Fuel Injection Actuator Application to Gain Traction
The fuel injection actuator application is estimated to gain traction by injecting fuel through a port located in the engine during idle time. It can be adjusted through the electronic control unit. On the other hand, the throttle actuator is set to convert the mechanical force of the accelerator by opening the throttle valve in the combustion chamber.
Passenger Cars to Dominate Market Demand
Passenger cars are deemed to dominate the market share owing to sales of passenger vehicles globally. Seat adjustments for improving the comfort and safety of passengers can drive the segment demand. Actuators can provide lumbar support, change positions and seat angles, and track seats.
Regional Analysis
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
The global market for automotive actuators was segmented by region into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to be the global market leader for automotive actuators. Asia Pacific’s emerging markets such as India and China are growing as automakers’ manufacturing hubs which are slated to have a positive impact on revenue generation from the market for automotive actuators. The cost-effective opportunities for automotive sector growth and expansion are reducing production costs which will further complement market expansion. The growing population coupled with a per capita income increase, is promoting the region’s proliferation of vehicle sales and boosting the vehicle actuators industry.
Increased R&D activities and a booming automotive sector will boost the growth of the European market for car actuators. Also, the growing technological developments in the German automotive industry and the demand for autonomous and semi-autonomous vehicles will further propel the expansion of the market. North America’s technologically advanced automotive sector, coupled with the involvement of key market players, favors the region’s growth and expansion of the demand for automotive actuators. The rest of the world will see modest demand growth over the projected period.
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