The market was valued at $ 19.65 billion in 2020 and is expected to reach $ 37.52 billion by 2027
Dublin, October 05, 2021 (GLOBE NEWSWIRE) – The “Automotive Actuators Market, Global Forecast, Impact of COVID-19, Industry Trends, by Application, Growth, Opportunity Business Analysis” report was added to ResearchAndMarkets.com offer.
The global automotive actuator market was valued at US $ 19.65 billion in 2020 and is expected to reach US $ 37.52 billion by 2027, with a CAGR of 9.68%
Automotive actuators are the type of transducers that convert energy into motion. Automotive actuators can control a range from a simple switch to high power hydraulic devices and valves in an automobile. They effectively manage various mechanisms in vehicles, such as applying brakes, controlling doors and lighting.
Additionally, with advancements in technology, automotive actuators are seen as the backbone of reducing road fatalities. By application, automotive actuators are easily used as throttle actuators, seat adjustment actuators, brake actuators and closer actuators in many types of vehicles such as light commercial vehicles, passenger vehicles and heavy duty vehicles. . These vehicles should install various actuators to improve safety and comfort.
Further, hydraulic, electric, and pneumatic are the variants by type that the Automotive Actuators Market has been categorized into. In recent years, on a global scale, electric actuators have replaced hydraulic and pneumatic actuators due to reduced noise emissions, 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 improve the driving experience by installing various actuators.
In addition, in light commercial vehicles, passenger vehicles and heavy commercial vehicles, electric actuators are widely used in comfort actuators such as window regulator drive, electric tailgate drive, drive seat and sunroof drive, among others. Nonetheless, major automotive actuator manufacturers such as Robert Bosch GmbH, Continental and Johnson Electric supply electric actuators.
The availability of cheap labor and raw materials in Asia-Pacific and the growing number of local manufacturers are expected to propel the market during the forecast period in the region.
In addition, China, the world’s largest automaker, is expected to be a determining factor for this market in the Asia-Pacific region. In addition, China’s potential to produce automotive components in large quantities at lower cost gives it a competitive advantage over other countries.
Major players operating in the market include Robert Bosch GmbH, Nidec Corporation, Denso Corporation, Johnson Electric and Mitsubishi Electric Corporation.
These companies have strong global distribution chains. In addition, these companies offer a wide range of products in this market. These companies adopt new product developments, collaborations, contracts and agreements to maintain their position in the market.
How has COVID-19 affected the market
The current COVID-19 outbreak which has had a major impact on several countries has severely affected the automation industry. The global impact of COVID-19 has been unprecedented and staggering, with actuators witnessing a negative demand shock in all regions amid the pandemic. In addition, large companies are suffering significant losses due to the nationwide lockdown. Before the pandemic, investments in the automation sector were slow and are expected to be postponed or maintained for almost a year.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1 Growth drivers
5. Automotive actuator market
6. Market share
6.1 By type of actuator
6.2 By vehicle type
6.3 By application
6.4 By region
7. Types of Actuators – Automotive Actuators Market
7.1 Hydraulic actuator
7.2 Electric actuator
7.3 Pneumatic actuator
8. Vehicle Types – Automotive Actuator Market
8.1 Light commercial vehicle
8.2 Passenger vehicle
8.3 Heavy commercial vehicle
9. Application – Automotive Actuator Market
9.1 Throttle actuator
9.2 Actuator for seat adjustment
9.3 Brake actuator
9.4 Closing actuator
10. Region – Automotive Actuator Market
10.1 North America
10.4 Latin America
10.5 Middle East Africa
11. Business analysis
11.2 Recent development
11.3 Financial overview
For more information on this report, visit https://www.researchandmarkets.com/r/mie396
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900