Potential Opportunity of USD 20 Billion to Open Up in Automotive Actuators Market - Exclusive Fact.MR Report

NEW YORK, Jan. 28, 2022 /PRNewswire/ -- The automotive actuators market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting growth through 2032. The study offers automotive actuators demand outlook and studies opportunities existing in key segments, including product type, vehicle, by working, sales channel and region. It also highlights key strategies adopted by market players to increase automotive actuators sales.

Fact.MR – A Market Research and Competitive Intelligence Provider: The global automotive actuators market is expected to increase at a CAGR of 6.6% from 2022 to 2032, from USD 20.1 billion in 2022 to USD 38.3 billion in 2032.

The global demand for automotive actuators is being pushed by an increase in demand for comfort combined with fuel efficiency, notably in passenger vehicles. In 2022, the demand for passenger vehicles is expected to reach USD 15 billion, 

As technology advances, new actuators are likely to be installed on autonomous vehicles to improve comfort and safety. Automotive actuator sales are steadily increasing as sales and production of automobiles, including passenger and commercial vehicles, continue to rise around the world. The pillars of today's and tomorrow's automotive systems are software programmes, actuators, and sensors

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The East Asian automotive actuator industry is likely to be dominated by China. China is one of the world's top vehicle producers, which is expected to be a driving force in increasing regional sales. Furthermore, due to the easy availability of raw materials and technological innovation, China has the potential to produce various automotive-based electronic components in huge amounts at a lower cost, giving it a competitive advantage over other nations.

Over the assessment period of 2022-2032, the demand for heavy commercial vehicles is expected to expand at a CAGR of 7.7%. In 2021, the automotive electronics industry is expected to be worth roughly USD 49 billion, with automotive actuators accounting for 37% of the market share.

The ongoing COVID-19 pandemic has hit the automotive players adversely on both the supply and demand side causing declining sales of automotive actuators. However, with Chinese automotive suppliers resuming their production, this is expected to swiftly increase the sales of automotive actuators" says the Fact.MR analyst

Key Takeaways:

• Europe based automotive actuators market is projected to reach at USD 9 Billion by the end of 2032.
• The North America automotive actuators market to grow at a CAGR of 5.9% by the end of 2032.
• By product type, power seat actuators to dominate the market with growing at a 5.8% CAGR
• By vehicle, passenger vehicles segment to reach a valuation of USD 28 Billion by 2032.
• By sales channel, OEM segment to expand at a CAGR of 7.1% during the forecast period.

Growth Drivers:

• Rising sales and production of passenger and commercial vehicles to propel the demand for automotive actuators.
• Rapid growth in demand for comfort and fuel efficiency especially in passenger vehicles to spur the sales of automotive actuators.

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Competitive Landscape

The leading players use a combination of organic and inorganic techniques, as well as partnerships and collaborations with key end use verticals like as car makers, to promote adoption throughout the lucrative industries.

The following are some of the most significant developments:

• In 2022, Continental AG partnered with Arkamys to improve audio solutions in vehicles, with continental sound type automotive actuators placed in a demo vehicle that was initially fortified with standard commodity speakers.
• In 2021, Continental AG and Sennheiser announced a speaker-less audio system for vehicle interiors with Sennheiser claiming to be able to create immersive audio using automotive actuators inside the vehicle.
• In 2019, HELLA GmbH & Co. KGaA expanded its electronics capabilities in the field of unique applications. The company's portfolio has grown to include sensors, energy management, and automotive actuators, as well as body electronics and driver assistance systems.

Key Companies Profiled by Fact.MR

• Delphi Automotive
• Mitsubishi Corporation
• Denso Corporation
• Robert Bosch GmbH
• Continental AG
• BorgWarner Inc.
• CTS Corporation
• Delphi Technologies Pl
• HELLA KGaA Hueck & Co
• Hitachi, Ltd
• Johnson Electric Holdings Limited

More Valuable Insights on Automotive Actuators Market

Fact.MR, in its new report, offers an unbiased analysis of the global automotive actuators market, analysing forecast statistics through 2022 and beyond. The survey reveals growth projections on in automotive actuators market with detailed segmentation:

• By Product :
• Waste Gate Actuator
• VGT Actuator
• Throttle Actuator
• Brake Actuator
• EGR Actuator
• Power Seat Actuator
• Grille Shutter
• HVAC Actuator
• Headlamp Actuator
• Others (Quick Attach, Hood Lift, etc.)
• By Vehicle :
• Passenger Vehicles
• Commercial Vehicles
• Heavy Commercial Vehicles
• By Working :
• Pneumatic
• Hydraulic
• Electromagnetic
• Gear Motors or Electric
• By Sales Channel :
• OEM
• Aftermarket
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa (MEA)

Key Questions Covered in the Automotive Actuators Market Report

• The market survey also highlights projected sales growth for automotive actuators market between 2021 and 2031
• The report offers insight into automotive actuators demand outlook for 2021-2031
• Automotive actuators market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Automotive actuators market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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