Facts and Factors Market Research has published a new report titled “Automotive Actuators Market By Type (Hydraulic, Electromechanical, and Pneumatic) and By Application (Passenger Car, Large Commercial Vehicle, and Small Commercial Vehicle): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global Automotive Actuators market is predicted to be valued at approximately USD 238.88 billion in 2018 and is expected to reach a value of around USD 359.51 billion by 2027, at a CAGR of around 4.6% between 2019 and 2027.
Actuators are the devices in a machine that are included for both moving as well as controlling the automotive system. This equipment transforms any kind of energy or power in motion. In the automotive sector, actuators find a spectrum of applications in vehicle production as well as in the alteration of aftermarket vehicles. Actuators are massively utilized in passenger vehicles as well as commercial vehicles in order to control the doors, regulate the lighting, and control the brakes.
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Flourishing automotive sector to steer the market trends over the forecast timeline
The growth of the automotive actuators industry over the forecast period is owing to the thriving vehicle sector across the globe. In addition to this, the high demand for vehicles including passenger cars has resulted in the enhanced production of these cars. This, in turn, is predicted to promote business growth over the period from 2019 to 2027.
Furthermore, technological breakthroughs are likely to offer new growth avenues for the market over the forecast period. Apart from this, the rise in the research activities in the vehicle sector will further embellish the market demand during the forecast timeline. Massive vehicle sales will proliferate the growth of the market during the period from 2019 to 2027.
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Moreover, the massive requirement of fuel-efficient cars along with the growing popularity of autonomous as well as semi-autonomous cars is expected to favorably influence the surge of the automotive actuators industry over the forecast timeline. Need for providing safety & comfort to the vehicles and growing digitization & vehicle automation will scale up the business growth prospects over the forecast period. Nonetheless, huge costs incurred due to the production of the automotive actuators will shrink the market expansion over the forecast timeline.
Hydraulic to lead the type segment over forecast timeline in terms of earnings
The segmental growth during the forecast timespan is attributed to the massive demand for the products in developing countries like India along with its easy availability & cost-efficiency.
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Passenger car segment to dominate the application landscape by 2027
The growth of the segment during the period from 2019 to 2027 is attributed to the high production of passenger cars to fulfill the burgeoning demand for these cars across the globe. Moreover, actuators are used in passenger cars for controlling as well as activating various applications including the headlight positioning, grill shutter, coolant, seat adjustment, HVAC systems, and refrigerant valves.
Asia Pacific to contribute majorly towards the overall market growth by 2027
The growth of the market in the Asia Pacific during the forecast period with countries like China being the largest vehicle producer in the world. Apart from this, many countries in the Asia Pacific have the potential to manufacture vehicle parts in huge volumes at reduced costs. This, in turn, is expected to further promote the growth of the market in the region.
Some of the major players in the business include Wabco Holdings Inc., Nidec Corporation, BorgWarner Inc., Stoneridge, Mitsubishi Electric Corporation, Delphi Automotive PLC, Continental AG, Hitachi, Robert Bosch GmbH, Johnson Electric Holdings, and Denso Corporation.
Browse the full “Automotive Actuators Market By Type (Hydraulic, Electromechanical, and Pneumatic) and By Application (Passenger Car, Large Commercial Vehicle, and Small Commercial Vehicle): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/automotive-actuators-market-by-type-hydraulic-electromechanical-and-188
This report segments the Automotive Actuators market as follows:
Automotive Actuators Market: By Type Analysis
Automotive Actuators Market: By Application Analysis
- Passenger Car
- Large Commercial Vehicle
- Small Commercial Vehicle
Automotive Actuators Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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