Global Automotive Actuators Market Is Growing With A CAGR Of 6.6% By 2030
The global automotive actuators market was valued at ~US$65.8 Bn at the end of 2019 and is anticipated to surpass US$109.4 Bn during the forecast period 2020-2030. The COVID-19 pandemic has led the automotive market towards a major slowdown worldwide. The sales of automotive actuators have plummeted with the shutdown of production facilities in leading automotive markets of Europe and Asia, thus posing major challenges to the players operating in automotive market. To overcome this situation, the manufacturers are focusing on research and development to form integrated braking systems which will ensure engine efficiency as well as fuel efficiency. This is anticipated to drive sales of brake actuators during the forecast period. Furthermore, the global demand for automotive actuators will surge by the end of 2020 as they are utilized in number of applications where machineries are involved.
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Key Takeaways of Automotive Actuators Market
- Under the impact of Covid-19, global automotive actuators market is expected to create an absolute $ opportunity of more than ~US$ 44.5 and is anticipated to expand 1.7X from 2020 through 2030
- VGT actuator is projected to grow at a value CAGR of 5.4% and is expected to be valued 2.9X more than EGR actuator by the end of 2020
- APEJ region is anticipated to be the market leader in the global automotive actuator market by the 2030 end with more than 39% market share in terms of value
- Aftermarket sales channel is projected to grow 1.6X faster than OEM sales channel and is anticipated to create an absolute $ opportunity of more than ~US$ 27.1 Bn during the forecast period
The ongoing COVID-19 pandemic has hit the automotive players adversely on both the supply and demand side causing declining sales of automotive actuators. However, with Chinese automotive suppliers resuming their production, this is expected to swiftly increase the sales of automotive actuators” says the Fact.MR analyst
Market Segments Covered in Automotive Actuator:
By Product :
- Waste Gate Actuator
- VGT Actuator
- Throttle Actuator
- Brake Actuator
- EGR Actuator
- Power Seat Actuator
- Grille Shutter
- HVAC Actuator
- Headlamp Actuator
- Others (Quick Attach, Hood Lift, etc.)
By Vehicle :
- Passenger Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
By Working :
- Gear Motors or Electric
By Sales Channel :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Fact.MR profiled the following key automotive actuator manufacturers in its report are, Delphi Automotive, Mitsubishi Corporation, Denso Corporation, Robert Bosch GmBH, Continental AG, HELLA GmBH & Co. KGaA, Johnson Electric Holdings Limited, CTS Corporation, CVEL Automotive electronics, Hitachi Ltd., Dover Flexo Electronics, Inc., Tolomatic Inc., Kenko E Motion And Actuators and Creative Motion Control are identified as key players manufacturing automotive actuators.
To increase the adoption across the lucrative areas, the above mentioned companies’ uses a combination of organic & inorganic methodologies, in addition to partnerships and collaborations with prominent end use verticals such as automotive manufacturers.
Some of the key developments are:
- In 2022, Continental AG had partnership with Arkamys to improve the audio solutions in vehicles where continental sound type of automotive actuators were installed in a demo vehicle firstly fortified with conventional commodity speakers.
- In 2021, Continental AG and Sennheiser had launched speaker less audio system for the interior of vehicles, where Sennheiser titles to make an immersive audio with the help of automotive actuators inside the vehicle to produce sound.
- In 2019, HELLA GmbH & Co. KGaA extended its electronics capability in the area of distinctive applications. The company expanded its portfolio ranging from sensors, energy management and automotive actuators through body electronics right up to assisting the driver systems.
Similarly, recent developments by top providers of automotive actuators have been tracked by the team at Fact.MR, which are available in the detailed report.