The automotive industry is a huge platform for a plethora of sub-industries which are witnessing monumental growth as the automotive industry is gaining momentum with time. One of these sub-industries is the automotive actuators market. Constant innovation and low cost has driven the technological development in the actuators industry. The rapid increase in demand for luxury and enhanced safety features in vehicles has pushed the demand for actuators in the market. Furthermore, the rising number of battery driven vehicles and growing demand for efficient vehicles has accelerated the growth of this market.
The global automotive actuators market is expected to reach $27.5 billion by 2022, growing at a CAGR of 3.2% through 2016 to 2022. Certain modern trends in the automotive industries such as advanced driver assistance system, semi-autonomous vehicles, fully autonomous vehicles, telematics and electric or hybrid electric vehicle are ascending to create abundant opportunities for the automotive actuators market. But the major factor contributing to the overall growth of this market is the stringent rules on vehicles’ emission with the deployment of fuel efficient vehicles. Besides all these growth catalysts, some factors such as low preference of diesel powered vehicles and pricing issue are restraining the growth of the global market.
The global automotive actuators market is divided along the lines of product types, viz. EGR, brake, VGT, throttle, intake flap, thermal, and exhaust. Among these, the brake actuator leads the market by value, accounting for a major share of 26.5% of the market. However, thermal actuator leads the market in terms of volume, which account for 25.6% share of the market. With the U.S. and European Union passing a mandate to install an anti lick-braking system in vehicles have certainly pushed the market towards a growth, despite the high prices of the actuators.
In terms of application, passenger cars account for the largest number automotive actuators installed in 2015. With the constant innovation in the automotive sector and a desire for a luxurious and safer experience among the consumers, the growth of actuators in passenger cars has been swift and lucrative. Despite high production rate, the demand for efficient vehicles has increased, in cognizance with the development in the performance enhancement technology.
Geographically, Asia-Pacific region dominated the global market in terms of revenue generation and is expected to grow at a rapid rate of 3.8% from 2016 to 2022. The presence of automotive giants and a well-established automotive industry in the APAC region are very evident factors responsible for the robust growth of the market, along with increasing income of the populace and the stringent regulations being imposed regarding vehicle’s emission. Some of the key market players involved in various business expansion activities, viz. collaboration, partnership and acquisition, are Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K), Hella KGaA Hueck & Co (Germany), BorgWarner Inc. (U.S), Hitachi Ltd.(Japan), and Johnson Electric Holding Ltd. (Hong Kong).
BIS Automotive has compiled an extensive market research report on ‘Global Automotive Actuators Market, By Product Type (EGR, Brake, VGT, Throttle, Intake Flap, Thermal, & Exhaust); By Vehicle Type (Passenger Cars & Commercial Vehicles) and By Geography – Analysis And Forecast 2016-2022’. The market analysis report provides an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints, and opportunities prevailing in the industry.
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