Automotive Actuators Market, By Application, Companies, Global Forecast By 2027

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automobiles

Summary

Automotive Actuators Market Size will be US$ 37.52 Billion by 2027. Global Forecast, Impact of COVID-19, Industry Trends, by Vehicle Types, Application, Growth, Opportunity Company Analysis.

Press Release

Automotive actuators are the type of transducers that convert energy into motion. The automotive actuators can control a range from a simple switch to high power hydraulic devices and valves in an automotive. They effectively manage different mechanisms in vehicles, such as applying breaks, controlling doors and lighting. Moreover, with advancements in technology, automotive actuators are being considered the backbone of reducing road fatalities. By application, automotive actuators are readily being used as throttle actuators, seat adjustment actuators, brake actuators, and closer actuators in numerous vehicle types such as light commercial vehicles, passenger vehicles, and heavy commercial vehicles. These vehicles are expected to install various actuators to enhance safety and comfort. According to the Renub Research, the Global Automotive Actuators Market was US$ 19.65 Billion in 2020.

In addition, Hydraulic, Electric and Pneumatic are the by type variants in which the automotive actuators market has been classified. In recent years, globally, electric actuators have replaced hydraulic and pneumatic actuators due to lower noise emission, compact and lightweight design, and flexible installation alternatives. Comfort features have become a global requirement in the passenger vehicle, and OEMs are investing the best possible efforts to enhance the driving experience by installing various actuators. Furthermore, in light commercial vehicles, passenger vehicles, and heavy commercial vehicles, electric actuators are widely used in comfort-feature actuators such as window lift drive, power tailgate drive, seat drive, and sunroof drive, among others. Notwithstanding, the leading automotive actuators manufacturers such as Robert Bosch GmbH, Continental, and Johnson Electric provide electric actuators. As per our analysis, the Worldwide Automotive Actuators Industry is projected to grow at a CAGR of 9.68% in the 2020-2027 periods.

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Geographically, the Global Automotive Actuators Market exists in North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The availability of inexpensive labour and raw material in the Asia-Pacific and the increasing number of local manufacturers are expected to propel the market during the forecast period in the region. In addition, China, the world’s largest vehicle manufacturer, is expected to be a driving factor for this market in the Asia-Pacific region. Moreover, China’s potential to produce automotive components in large volumes at a lower cost provides it with a competitive edge over other countries. As per our estimation, the Global Automotive Actuators Market Size is projected to reach US$ 37.52 Billion by 2027.

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