Global Automotive Actuators Market

Automotive Actuators Market Size, Share, Growth Analysis, By Vehicle Type(Passenger Cars and Commercial Vehicle), By Application(Brake actuator, Seat adjustment actuator, and Others.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25A2162 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 61 | Figures: 75

Automotive Actuators Market Dynamics

Automotive Actuators Market Drivers

  • Better Connectivity and Safety Features

Enhanced connectivity and safety features have become increasingly important in the automotive industry. Actuators play a crucial role in engine management systems by controlling idle speed, as well as in air flap management systems to optimize torque and maximize power output. As individuals prioritize vehicle performance and safety, the automotive actuator market is witnessing significant growth.

Furthermore, the integration of Internet of Things (IoT) technology in passenger cars to offer improved connectivity and advanced safety features is expected to have a considerable impact on the industry's trajectory in the foreseeable future.

Automotive Actuators Market Restraints

  • Fluid Leaks and High Maintenance of Systems

Fluid leaks can lead to reduced performance and efficiency in systems. Moreover, these leaks can pose risks to nearby components, impacting their functionality, and can also create cleanliness issues. Hydraulic actuators, in particular, require several additional components, including fluid reservoirs, motors, pumps, valves, heat exchangers, and noise-canceling devices. However, the market faces challenges due to the high maintenance requirements of systems with multiple components that need frequent monitoring and assessment.

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Automotive Actuators Market size was valued at USD 18.6 Billion in 2021 and is poised to grow from USD 19.83 Billion in 2022 to USD 33.06 Billion by 2030, at a CAGR of 6.6% during the forecast period (2023-2030).

The market is highly competitive and fragmented in nature, with numerous players operating in the industry. These companies offer a wide range of automotive actuators, including electric, hydraulic, pneumatic, and mechanical actuators, among others. The market is driven by factors such as increasing vehicle production, rising demand for comfort and convenience features, and stringent government regulations related to emissions and fuel efficiency. 'Robert Bosch GmbH - Germany', 'Continental AG - Germany', 'Johnson Electric Holdings Limited - Hong Kong', 'Denso Corporation - Japan', 'Valeo SA - France', 'BorgWarner Inc. - US', 'Hitachi, Ltd. - Japan', 'Mitsubishi Electric Corporation - Japan', 'Hella GmbH & Co. KGaA - Germany', 'Aisin Seiki Co., Ltd. - Japan', 'Mahle GmbH - Germany', 'ZF Friedrichshafen AG - Germany', 'Nidec Corporation - Japan', 'WABCO Holdings Inc. - Belgium', 'Magna International Inc. - Canada', 'Rheinmetall Automotive AG - Germany', 'HELLA KGaA Hueck & Co. - Germany', 'Infineon Technologies AG - Germany', 'Mabuchi Motor Co., Ltd. - Japan', 'CTS Corporation - US'

Better Connectivity and Safety Features

Electrification and Autonomous Vehicles: The growing shift towards electrification and the development of autonomous vehicles are driving the demand for advanced actuators. Electric vehicles (EVs) require actuators for various functions, such as powertrain control, battery management, and HVAC systems. Autonomous vehicles rely heavily on actuators for steering, braking, and other critical functions.

The dominant region in the automotive actuators market has traditionally been Europe. This is because Europe is home to several key automotive manufacturers and has a well-established automotive industry, driving the demand for automotive actuators.

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Global Automotive Actuators Market

Report ID: SQMIG25A2162