The Automotive Actuators Market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period.
Automakers are highly focused on developing new and improved components to increase the fuel efficiency of vehicles owing to growing concerns over environmental changes. Automotive actuators play a significant role in reducing emissions and enhancing vehicle efficiency. Electric actuators, also known as smart actuators, replace hydraulic and pneumatic actuators due to their several benefits, like compact and lightweight design, more energy efficient, and less expensive, making it ideal for various applications. Smart actuators can perform diagnostics and include learning capabilities and memory functions. Electric actuators are typically installed in engines that open and close different valves, which is also anticipated to fuel the overall market growth.
“Electric Actuators will be the dominating actuation type during the forecast period.”
Electric actuators hold the largest share of the automotive actuators market during the forecast period. Along with the advancement in vehicular technologies, electric actuators have become a critical component and have replaced hydraulic and pneumatic actuators in various high-end and electric vehicles. This is due to lower noise emission, compact and lightweight design, and flexible installation options offered by electric actuators. In-vehicle comfort is a prime focus for global OEMs, which helps them to provide unique models and differentiate from competitors. Electric actuators are widely used in comfort-feature actuators such as window lift drives, power tailgate drives, electrically controlled doors, seat drives, and sunroof drives to support this. Alternatively, mid- and high-priced cars are installed with advanced safety systems or ADAS features such as adaptive cruise control, lane-keeping assistance, and automated emergency braking. These functions require smart electric actuators to control the function and improve drivability and safety. With the rising adoption of advanced driver assistant systems and electronics in the vehicle, the demand for electric actuators is set to grow in the coming years.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=166095652
“The body control & exterior is the fastest growing application for the Automotive Actuators market.”
The growth of body control & exterior segment is mainly attributed to many actuators included under this application. Most passenger vehicles typically use telescopic actuators, grille shutter actuators, tailgate actuators, headlamp actuators, and door actuators. Many premium vehicle manufacturers design cars with the active grill shutter feature to assist in engine warm-up. At the same time, it responds to the signal from the engine control module to open and close according to the driving condition, resulting in improved fuel efficiency. Due to this, Tier-1 suppliers such as Valeo and Hella offer the gill shutter actuators in their product portfolio.
Similarly, the development of smart systems in automotive lighting, like headlamps responding to the steering angle, suspension movements, road curvatures, and forward traffic, is driving the demand for adaptive headlamp units. These features are gaining popularity in Mercedes-Benz, Audi, Volvo, Volkswagen, and other passenger car models. European legislation focuses on decreasing fatalities by encouraging the inclusion of safety systems in vehicles. This will fuel the demand for adaptive headlamps. The increasing stringency of emission & safety standards and fuel economy parameters have led manufacturers to try new and enhanced ways to meet the revised standards and enable the fitment of new technologies in body & exterior parts of the vehicle body, which will ultimately spur the growth of automotive actuators in the future.
“Europe is the second largest market for automotive actuators.”
The high disposable income level of the population has resulted in an increasing demand for premium and luxury cars in this region. According to MarketsandMarkets analysis, Class C and above passenger vehicles contribute around 90% of the total passenger cars produced in Germany. Germany is estimated to account for the largest share of the European automotive actuators market, attributed to the increasing demand for advanced in-vehicle electronics and the high demand for premium sedans, coupe, and mid & full-size SUVs. These cars have advanced safety systems such as adaptive cruise control, lane-keeping assistance, and automated emergency braking. Luxury cars have comfort features such as powered seats, windows, sunroofs, etc. All these features generate a demand for actuators. Similar is the trend for other European countries, including the UK, which has a higher adoption of luxury cars. In European countries, with technological advancement and increasing awareness about safety and security, the European Commission’s General Safety Regulation (GSR) sets minimum safety standards for all vehicles, which includes ADAS features like Automatic Emergency Braking system, Lane departure warning, which helps to reduce the rate of accidents on the road. The vehicles equipped with the ADAS system involve the additional installation of actuators, driving the sales of actuators during the forecast period. In ADAS systems, actuators play a significant role, enabling vehicles to perform more and more automated tasks. As ADAS features become sophisticated, the part of actuators will become greater in ensuring the safety and convenience of vehicles, which will drive market growth in the upcoming years. Increasing R&D investments, partnerships, and joint ventures between major OEMs and domestic players have created further growth opportunities for manufacturers of automotive actuators.
Key Players
The Automotive Actuators Market is dominated by globally established players, such as Robert Bosch (Germany), HELLA GmbH & Co. KGaA (Germany), Johnson Electric (China), Denso Corporation (Japan), and Continental AG (Germany).
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=166095652