Global Automotive Actuators Market Is Estimated To Provide an Absolute $ Opportunity of USD 20 Billion

A recent
Fact.MR report estimates that the global automotive actuators market will be
worth USD 20.1 billion in 2022 and will grow at a CAGR of 6.6% from 2022 to
2032 to reach USD 38.3 billion.

 

The market
for automotive actuators was estimated to be worth US$65.8 billion at the end
of 2019 and is projected to reach US$109.4 billion between 2020 and 2030. The
COVID-19 pandemic has caused a significant global slowdown in the automotive
industry. With the closure of production facilities in major automotive markets
in Europe and Asia, the sales
of automotive actuators have plummeted, posing significant
challenges to the market’s players.

 

For More Insights into the Market, Request
a Sample of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=297

 

Manufacturers
are concentrating on research and development to create integrated braking
systems that will guarantee both engine efficiency and fuel efficiency in order
to overcome this situation. Sales of brake actuators are anticipated to be
boosted during the forecast period. Furthermore, as they are used in numerous
applications involving machinery, the demand for automotive actuators will
increase globally by the end of 2020.

 

Automotive
actuators are used in seat adjustment and headlight positioning mechanisms in
addition to actuating brake and steering system applications. In order to
create the necessary rotary and linear motion for physical movement, it
transforms an electric signal. The growing electronics and automation in
vehicles are the main factors driving the demand for automotive actuators.

 

Why is the passenger vehicle segment
thought to present growth prospects for the automotive actuator market?

 

In the
automotive actuators market, the passenger vehicle segment is anticipated to
grow at the fastest rate. Demand for fuel-efficient cars is increasing, and the
market is being stimulated by the rising cost of energy and oil. Since the aforementioned
factors started to play, it is assumed that the passenger vehicle market will
continue to grow at the same 6.3% CAGR it did from 2016 to 2021. By the end of
2032, the passenger vehicle market is anticipated to be worth USD 28 billion.

 

Request More Information about Report
Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=297

 

Competitive
Landscape

 

In its
report, Fact.MR profiled a number of major companies that produce automotive
actuators, including 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.

 

The
aforementioned companies use a combination of organic and inorganic
methodologies, as well as partnerships and collaborations with well-known end
use verticals like automotive manufacturers, to increase adoption across the
lucrative areas.

 

Key
players in the Automotive Actuators Market-

Delphi Automotive
Mitsubishi Corporation
Denso Corporation
Robert Bosch GmbH
Continental AG
BorgWarner Inc.
CTS Corporation
Delphi Technologies Pl
HELLA KGaA Hueck & Co
Hitachi, Ltd
Johnson Electric Holdings Limited

 

For In-Depth Competitive Analysis, Buy now:
https://www.factmr.com/checkout/297

 

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 :

Pneumatic
Hydraulic
Electromagnetic
Gear Motors or Electric

 

By
Sales Channel :

OEM
Aftermarket

 

By
Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
(MEA)

* This article was originally published here