Market Overview
In its research report, Market Research Future (MRFR),emphasizes that the global automotiveactuator market 2020 is expected to grow exponentially over the reviewperiod, securing a substantial market valuation and a healthy 8% CAGR over thereview period.
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Drivers and Restraints
Autonomous vehicles are poised to install various actuatorswith advances in technology to improve safety and comfort. The demand forautomotive actuators is steadily growing due to the relentless increase inmanufacturing and sales of automobiles (LCVs, passenger cars, HCVs, andoff-road vehicles) worldwide. Sensors, hardware controllers, software programs,and actuators are considered the foundation of current and future automotivesystems. Automotive actuators improve vehicle efficiency and performance bysupporting engine flywheel rotations, controlling engine idle speed, enginetorque, among others, which is likely to boost growth opportunities on themarket for automotive actuators. The technological developments, increasedresearch & development activities, huge investments by key players, amongothers, would further propel the development of the market over the evaluationperiod. The increased use of electronics in the automotive industry is likelyto fuel the growth of the demand for automotive actuators over the next fewyears. The market for actuators is expected to grow, as manufacturers are nowfocused on making automated systems that will require actuators. This can alsobe used in air crafts, and demand is rising as a result of increased airtraffic and full automation. Accordingly, actuator demand is growing globally.Increasing a wide variety of applications in industries where high machineryentails increased global demand for actuators. However high costs incurred inproducing actuator devices that impede potential actuator market development.
Segmental Analysis
By type, the automotive actuator market has been segmentedinto the electric actuator, hydraulic actuator, and pneumatic actuator. Theelectric actuator segment is slated to witness massive demand due to itslarge-scale deployment in the automotive sector.
By application type, the global automotive actuators marketis divided into the throttle actuator, brake actuator, fuel injection actuator,and others.
By vehicle type, the automotive actuators market issegmented into Light Commercial Vehicles (LCV), passenger cars, and HeavyCommercial Vehicles (HCV).
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Regional Analysis
The geographical overview of the global market has beenconducted 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 byregion into North America, Europe, Asia Pacific, and the Rest of the World.Asia Pacific is expected to be the global market leader for automotiveactuators. Asia Pacific's emerging markets such as India and China are growingas automakers' manufacturing hubs which are slated to have a positive impact onrevenue generation from the market for automotive actuators. The cost-effectiveopportunities for automotive sector growth and expansion are reducingproduction costs which will further complement market expansion. The growingpopulation coupled with a per capita income increase, is promoting the region'sproliferation of vehicle sales and boosting the vehicle actuators industry.
Increased R&D activities and a booming automotive sectorwill boost the growth of the European market for car actuators. Also, thegrowing technological developments in the German automotive industry and thedemand for autonomous and semi-autonomous vehicles will further propel theexpansion of the market. North America's technologically advanced automotivesector, coupled with the involvement of key market players, favors the region'sgrowth and expansion of the demand for automotive actuators. The rest of theworld will see modest demand growth over the projected period.
Competitive Analysis
The key market players operating in the global market asidentified by MRFR areAptiv PLC (U.S.), Hella KGaAHueck& Co. (Germany),Continental AG (Germany), Robert Bosch GmbH (Germany), Denso Corporation(Japan), and Stoneridge Inc. (U.S.). Wabco Holdings Inc. (Belgium), NidecCorporation (Japan), Mitsubishi Electric Corporation (Japan), and Sonceboz SA(Switzerland), are among others.
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