According to the latest report by IMARC Group, titled “Automotive Actuators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global automotive actuators market size reached US$ 26.8 Billion in 2022. The automotive actuator is an indispensable mechanical component of electronic control systems in commercial and passenger vehicles. It moves or regulates automobile mechanisms in oscillatory, linear, or rotary directions by converting and supplying energy generated from different sources, including air, electricity, and hydraulics. Automotive actuators help activate control valves, operate power liftgates, regulate throttles for directing airflow in the climate management systems, adjust engine flywheel rotation speed and torque, and optimize the overall efficiency and performance of the vehicle. As a result, automotive actuators find extensive applications in cylinders, motors, rack and pinion arrangements, ball screws, and other components of an automobile. Apart from this, they are frequently utilized across industrial procedures to operate several essential devices, such as fluid couplings, valves, and dampers. Currently, automotive actuators are commercially available in hydraulic, electric, and pneumatic types.
Global Automotive Actuators Market Trends:
The considerable expansion of the automotive industry and continuous launches of autonomous, lightweight and heavy commercial vehicles with enhanced safety features and connectivity represent prime factors driving the market growth. Furthermore, the shifting consumer inclination towards fuel-efficient cars due to escalating environmental concerns has facilitated the uptake of electric and hydraulic automotive actuators to mitigate greenhouse gas (GHG) emissions, which is acting as another growth-inducing factor. Additionally, the rising frequency of road fatalities caused by rash or drunk driving and control loss has fueled the installation of automotive actuators in cars, which, in turn, is favoring the market growth. Moreover, the extensive product usage in advanced driver assistance systems (ADAS) and adaptive cruise control (ACC) solutions to reduce engine power and detect nearby objects is propelling the market growth. This is further influenced by the integration of the internet of things (IoT), sensors, and advanced cameras that offer enhanced monitoring and analysis. Apart from this, the widespread utilization of automotive actuators in various scientific and industrial applications, such as microfluidic motors, valves, and nanopositioning in semiconductor fabrication, is creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 37.4 Billion by 2028, expanding at a CAGR of 5.5% during 2023-2028.
- On the basis of the product, the market is segregated into brake, HVAC, headlamp, grill shutter, seat, coolant and refrigerant valve, and other actuators.
- Based on the motion, the market has been bifurcated into linear and rotatory.
- On the basis of the vehicle type, the market has been categorized into passenger, commercial, and other vehicles.
- Based on the sales channel, the market is bifurcated into original equipment manufacturer (OEM) and aftermarket.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being BorgWarner Inc., Continental AG, CTS Corporation, DENSO Corporation, EFI Automotive, HELLA GmbH & Co. KGaA (Faurecia SE), Hitachi Ltd., Johnson Electric Holdings Limited, MAHLE GmbH, Mitsubishi Electric Corporation, Nidec Corporation, Robert Bosch GmbH, and Stoneridge Inc.
|Base Year of the Analysis
||Product, Motion, Vehicle Type, Sales Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BorgWarner Inc., Continental AG, CTS Corporation, DENSO Corporation, EFI Automotive, HELLA GmbH & Co. KGaA (Faurecia SE), Hitachi Ltd., Johnson Electric Holdings Limited, MAHLE GmbH, Mitsubishi Electric Corporation, Nidec Corporation, Robert Bosch GmbH and Stoneridge Inc.
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