Los Angeles, November 8, 2019 –QY Research recently published a research report titled, “Global (United States, European Union and China) Automotive Actuators Market Research Report 2019-2025”. The report presented by researchers has thoroughly analyzed the global automotive actuators market to give precise information and facts regarding current market trends. Experts have used various methodologies and analysis to collate the report. It provides information about various manufacturers in the global automotive actuators market with respect to their production, consumption, revenue and market share.
In 2018, the global automotive actuator production value was estimated around US$12 bn and is expected to reach more than US$16 bn by 2025, rising at CAGR of more than 4% between 2019 and 2025.
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Increasing Usage of Actuator for Interior and Bodywork of Automobiles Fuels Global Market
Rising automation and digitalization in the sector has driven the growth of global automotive actuators market. Decentralization process in passenger cars and commercial vehicles has increased its application of actuators. Electronic control systems have become a major part of these vehicles as they are extensively used for safety and comfort of the driver. There are four main type of actuators, which includes hydraulic actuators, pneumatic actuators, electric actuators, and mechanical actuators. They are used for both the automobile’s interior and bodywork. It is used in interior and bodywork including steering wheel, headrest, seats, movement of rear view mirrors, sunroofs, headlights, lid of the gasoline deposit, engine block, trunk, and others.
Electric actuators are observing increasing market penetration as they provide flexibility in installation and are lightweight in design compared to hydraulic and pneumatic actuators. In order to optimize performance and decrease pollution, powerful actuators control fresh air supply and exhaust gas recirculation, in addition to supplying the necessary amount of fuel to the engine. Hence, actuators plays a major role in reducing fuel consumption and lowering pollution. Its various features spread across various dimensions of automotive industry is expected to boost the global automotive actuators market.
Seat Actuators to Occupy Largest Share of Global Automotive Actuators Market
The global automotive actuators market is segmented by product type and application. The product type segment include HVAC actuators, headlamp actuators, grill shutter actuators, seat actuators, brake actuators, coolant & refrigerant valve actuators, and others. The seat actuators segment will register significant growth due to increasing demand for premium vehicles. The application segment include two- & three-wheelers, passenger cars, and commercial vehicles.
Rising Number of Manufacturers to Boost Shares in Asia Pacific
Asia Pacific to register highest growth due to the rising automotive industry in the region. Countries like India, Japan, and China are stepping up to become major manufacturers and suppliers of automobiles. The new automotive technology with AI backing in Europe will help its growth in the forecast period. Furthermore, the increasing regulations and emission policies are encouraging the automotive industry in the region to adopt actuators.
Manufacturers to Focus on Expansion of Actuator Applications
Continental is one of the major manufacturer in the industry. The company have recently announced a spinoff for Vitesco Technologies. This spinoff will restructure the Powertrain unit from Continental’s automotive division. This spinoff is focused on enhancing company’s flexibility to make acquisitions and increase exposure to vehicle electrification and autonomous driving. In addition, it will provide flexibility for Vitesco Technologies to enhance electrified drivetrain systems, electronic control units, and sensors and actuators. This will enable company to give flexibility to both the companies and their own products and edge over other companies in the market.
Other report covers major manufacturers including Bosch, HELLA, Schaeffler, Denso, Inteva Products, Valeo, Rheinmetall Automotive, Magna International, Mahle, Stoneridge, Magneti Marelli, Mitsubishi Electric, Johnson Electric, Hitachi, Knorr-Bremse, Woco Industrietechnik, Continental, NTN, Aisin Seiki, Haldex (BorgWarner), Alfmeier Praezision, Eaton, Hyundai Kefico, Murakami, Harada Industry, Inzi Controls, EKK, NOK, Dongfeng Motor, and others.
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