Automotive Actuators Market is expected to reach USD 20.33 billion by 2022
LONDON, June 14, 2017 /PRNewswire/ -- Highlights
· Growing demand for engine downsizing and fuel efficient vehicles is set to drive the automotive actuators market.
· The global automotive actuators market is estimated to be USD 14.16 billion in 2017 and is projected to reach USD 20.33 billion by 2022, at a CAGR of 7.49%.
· Engine downsizing reduces carbon emissions and automotive weight and also improves the vehicle performance by improving fuel economy.
· The increasing demand for fuel-efficient vehicles, due to government norms, and rising fuel prices further drive the automotive actuators market.
· Grille shutter actuator: The fastest growing segment in the automotive actuators market, by product type.
· The grille shutter actuator is estimated to be the fastest growing market of the automotive actuators market, by product type.
· These actuators improve the drag coefficient and optimize engine cooling and heating for reducing CO2 emissions.
· Passenger cars: The fastest growing segment in the automotive actuators market.
· The passenger cars segment is expected be the fastest growing segment in the automotive actuators market, by vehicle type.
· Asia-Pacific: The fastest growing region in the automotive actuators market.
· The Asia-Pacific market is estimated to dominate the automotive actuators market and is projected to grow at the highest CAGR during the forecast period.
· The market growth in this region can be attributed to the improving socio-economic conditions in emerging economies such as China and India.
· Increasing demand for electric vehicles has also driven the automotive actuators market in the region.
"Growing demand for engine downsizing and fuel efficient vehicles is set to drive the automotive actuators market."
The global automotive actuators market is estimated to be USD 14.16 billion in 2017 and is projected to reach USD 20.33 billion by 2022, at a CAGR of 7.49%. Engine downsizing reduces carbon emissions and automotive weight and also improves the vehicle performance by improving fuel economy. The increasing demand for fuel-efficient vehicles, due to government norms, and rising fuel prices further drive the automotive actuators market.
"Grille shutter actuator: The fastest growing segment in the automotive actuators market, by product type. "
The grille shutter actuator is estimated to be the fastest growing market of the automotive actuators market, by product type. These actuators improve the drag coefficient and optimize engine cooling and heating for reducing CO2 emissions. Thus, the growing demand for fuel efficient vehicles is driving the market for grille shutter actuators.
"Passenger cars: The fastest growing segment in the automotive actuators market."
The passenger cars segment is expected be the fastest growing segment in the automotive actuators market, by vehicle type. This can be attributed to the introduction of various advanced automated systems such as operating windows, seat adjustments, and headlights in passenger cars. These features have spurred the growth of the automotive actuators market for passenger cars.
"Asia-Pacific: The fastest growing region in the automotive actuators market."
The Asia-Pacific market is estimated to dominate the automotive actuators market and is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the improving socio-economic conditions in emerging economies such as China and India. Increasing demand for electric vehicles has also driven the automotive actuators market in the region.
Major players profiled in the report are:
• Hitachi, Ltd. (Japan)
• Robert Bosch GmbH (Germany)
• Continental AG (Germany)
• Denso Corporation (Japan)
• Mitsubishi Electric Corporation (Japan)
• Delphi Automotive PLC (U.K.)
• BorgWarner (U.S.)
• Nidec Corporation (Japan)
• Wabco Holdings Inc. (Belgium)
• Johnson Electric Holdings Limited (Hong Kong)
• Stoneridge Inc. (U.S.)
Download the full report: https://www.reportbuyer.com/product/4939880/
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SOURCE ReportBuyer
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