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Global Automotive Actuators Market Is Expected to Represent a Value of Over US$ 19,801.6 Mn by 2022
Fact.MR
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Automotive Actuators are the vital part to control a mechanism or the system in the vehicle. Actuators respond to the received control signal by converting energy into motion. Actuators in the engine control system manage the speed, optimize the power and meter fuel for optimal combustion. Actuators are also used to lock and unlock car doors.
Nowadays, manufacturers are providing powerful actuators with innovative design to help provide safety and offer various assistance functions. Smart actuators are also being developed for the automotive engine to offer reliability, minimize the cost and provide fuel-efficiency. These smart actuators perform various tasks using a microcontroller. Various market players are also introducing new actuators with new and compact design and advanced systems. Manufacturers of the auto component are also working on active kinematics control for vehicles, this includes electronically controlled active track actuator.
According to a study by Fact.MR, the global market for automotive actuators is expected to experience healthy growth. The market is projected to reach US$ 19,801.6 million value by 2022 end. The rise in automotive industry across the globe is driving the development of innovative components used in vehicles. Automotive actuators are also witnessing increased demand due to the ability to offer maximum speed, reduce fuel consumption, etc.
Waste-Gate Actuator- Top-Selling Product
Compared to all the other automotive actuator products, a waste-gate actuator is expected to emerge as one of the highest selling automotive actuators. The waste-gate actuator is anticipated to experience impressive growth. Waste-gate actuator is also projected to create more than US$ 900 million incremental opportunity during 2017-2022.
Compact Passenger Cars to Witness Healthy Growth
Among all the other type of vehicles, compact passenger cars are expected to use automotive actuators on a large-scale. Towards 2022 end, compact passenger cars are projected to surpass US$ 4,600 million revenue. Meanwhile, mid-sized passenger cars are also likely to be the second largest users of the automotive actuators.
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APEJ to Dominate the Global Market for Automotive Actuators
APEJ is expected to remain dominant in the global market for automotive actuators. The region is expected to experience healthy growth throughout the forecast period. Various countries in APEJ such as China and India are seeing a robust growth as the automotive component manufacturers are using advanced technologies. Moreover, the government is also imposing regulations on emission and on consumption of fuel by the automotive industry. On the other hand, North America and Europe will also witness growth due to increasing adoption of advanced technologies in the manufacturing process of actuators for vehicles.
Competition Tracking
The report provides a detailed profile of key players that are anticipated to be active in the global automotive actuators market by 2022 end, which include Robert Bosch GmbH, Continental AG, Denso Corporation, Mahle Group, Hitachi Ltd, Mitsubishi Heavy Industries Ltd, Nidec Corporation, Delphi Automotive PLC, and Johnson Electric Holdings Limited.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.C
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