The sales of Automotive Actuators was valued at ~US$65.8 Bn at the end of 2019 and is anticipated to surpass US$109.4 Bn during the forecast period 2020-2030. The COVID-19 pandemic has led the automotive market towards a major slowdown worldwide. The sales of automotive actuators have plummeted with the shutdown of production facilities in leading automotive markets of Europe and Asia, thus posing major challenges to the players operating in automotive market. To overcome this situation, the manufacturers are focusing on research and development to form integrated braking systems which will ensure engine efficiency as well as fuel efficiency. This is anticipated to drive sales of brake actuators during the forecast period. Furthermore, the global demand for automotive actuators will surge by the end of 2020 as they are utilized in number of applications where machineries are involved.
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Key Takeaways of Automotive Actuators Market
- Under the impact of Covid-19, global automotive actuators market is expected to create an absolute $ opportunity of more than ~US$ 44.5 and is anticipated to expand 1.7X from 2020 through 2030
- VGT actuator is projected to grow at a value CAGR of 5.4% and is expected to be valued 2.9X more than EGR actuator by the end of 2020
- APEJ region is anticipated to be the market leader in the global automotive actuator market by the 2030 end with more than 39% market share in terms of value
- Aftermarket sales channel is projected to grow 1.6X faster than OEM sales channel and is anticipated to create an absolute $ opportunity of more than ~US$ 27.1 Bn during the forecast period
Key Segments of the Automotive Actuators Market
Fact.MR’s study on the automotive actuators market offers information divided into four key segments-product, vehicle, working, sales channel and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
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- 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.)
- Passenger Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
- Gear Motors or Electric
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Facility Expansion to Remain a Prime Growth Lever
Prominent players in the automotive actuators market are Delphi Technologies Inc., Mitsubishi Electric Corporation, Denso Corporation, Continental AG, CTS Corporation, BorgWarner Inc., HELLA KGaA Hueck & Co, Hitachi, Ltd, Johnson Electric, among others. Key players in automotive actuators market are focusing on expanding their manufacturing facilities to increase their reach in the global market.
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