Passenger Vehicle Segment to Amplify Sales of Automotive Actuators
Amid the coronavirus outbreak, automotive industry has been a highly affected sector, hampering the sales of automotive actuators. The existing vulnerabilities like declining sales of passenger cars is anticipated to decrease the global demand for automotive actuators till the end of 2020. However, consumer inclination towards features in vehicles such as automatic lighting, panoramic sunroof, auto-sense wipers, and power windows is set to boost the growth of automotive actuators market. In an effort to stabilize their businesses and to gain a competitive advantage over competitors in terms of customer base, automotive manufacturers will equip vehicles with more electric assisted features. This, in turn, is anticipated to increase the demand for automotive actuators during the forecast period. Among all vehicle types, the passenger vehicle segment is estimated to account for nearly 76% of the automotive actuators market.
For More Valuable Information on Market Dynamics, Request a Sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=297
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
Facility Expansion to Remain a Prime Growth Lever
Prominent players in the automotive actuators market are Delphi Technologies Inc., Mitsubishi Electric Corporation, Denso Corporation, Continental AG, CTS Corporation, BorgWarner Inc., HELLA KGaA Hueck & Co, Hitachi, Ltd, Johnson Electric, among others. Key players in automotive actuators market are focusing on expanding their manufacturing facilities to increase their reach in the global market. For instance,
- In 2019, Delphi Technologies opened a new plant in Poland. With this plant, the company will expand the production of electronic control units for various vehicle manufacturers in Europe
- In 2019, Mitsubishi Electric Corporation started the construction of a new plant in India. Through this new plant, the company will expand its output of products such as motor-control units for electric power steering, exhaust gas recirculation valves and giant magnet-resistance sensors
Share Your Requirements & Get Customized Reports – https://www.factmr.com/connectus/sample?flag=RC&rep_id=297
Find More Valuable Insights on Automotive Actuators Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global automotive actuators market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the automotive actuators market based on product type (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.), vehicle (passenger vehicle, commercial vehicle, heavy commercial vehicle), working (pneumatic, hydraulic, electromagnetic, gear motors or electric), and sales channel (OEM, aftermarket) across six major regions.
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automotive team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/297/S
Explore Fact.MR’s Coverage on the Automotive Domain
Off Highway Engine Market: A recent study by Fact.MR on the off-highway engine market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players.
Golf Cart Market: Fact.MR published a market study on the global market for golf cart, providing a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the golf cart market structure. The market study presents exclusive information about how the golf cart market will grow during the upcoming decade.
Automotive Remote Diagnostics Market: Fact.MR’s automotive remote diagnostics market report sheds light on the prominent dynamics expected to shape future growth prospects. An explanation of vital parameters such as the trends, drivers and opportunities, as well as data on prominent segments’ outreach across key geographies and presence of prominent manufacturers have been embedded in this report.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Jumeirah Lakes Towers,
Dubai, United Arab Emirates