What Has Been the Growth of the Automotive Actuators Market So Far?
The automotive actuators market has seen considerable growth due to a variety of factors.
• The automotive actuators market has experienced solid growth in recent years. It will grow from $22.6 billion in 2024 to $24 billion in 2025, at a compound annual growth rate (CAGR) of 6.2%.
The growth is attributed to developments in autonomous vehicles, government fuel efficiency and emission regulations, rising aftermarket demand for actuator replacements, and the increasing adoption of electric vehicles.
How Will the Automotive Actuators Market?
The automotive actuators market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive actuators market is projected to grow to $30.05 billion by 2029, at a CAGR of 5.8%.
This growth is driven by the increasing demand for advanced driver assistance systems (ADAS), rising vehicle production, a focus on vehicle comfort, and the rise of electrification in vehicles. Major trends include autonomous vehicle development, integration of smart actuators, ADAS technology, vehicle electrification, and greater efficiency.
Which Factors Are Boosting Growth In The Automotive Actuators Market?
The increasing demand for electric vehicles (EVs) is expected to drive the growth of the automotive actuators market. EVs, which are powered by electric motors, feature components designed for efficiency and performance. As technological advancements, environmental concerns, and efforts to reduce carbon emissions rise, the demand for EVs continues to grow. Automotive actuators in EVs play a key role by providing precise control over braking, steering, and thermal management, enhancing performance and safety. In July 2023, the Internal Energy Agency reported a 25% increase in electric car sales in the first quarter of 2023, compared to the previous year, with projections for a 35% increase by the end of 2023. This growing demand for electric vehicles is driving the automotive actuators market.
What Key Areas Define The Segmentation Of The Global Automotive Actuators Market?
The automotive actuators market covered in this report is segmented –
1) By Type: Hydraulic Actuator, Electric Actuator, Pneumatic Actuator
2) By Vehicle: Passenger Vehicles, Commercial Vehicles, Others Vehicles Type
3) By Sales: Original Equipment Manufacturer (OEM), Aftermarket
4) By Application: Throttle Actuator, Seat Adjustment Actuator, Brake Actuator, Closure Actuator, Other Applications
Subsegments:
1) By Hydraulic Actuator: Linear Hydraulic Actuators, Rotary Hydraulic Actuators, Electro-Hydraulic Actuators, Hydraulic Actuators For Steering Systems, Hydraulic Actuators For Suspension Systems
2) By Electric Actuator: Linear Electric Actuators, Rotary Electric Actuators, Piezoelectric Actuators, Electric Actuators For Brake Systems, Electric Actuators For Throttle Control, Electric Actuators For Seat Adjustments And Windows
3) By Pneumatic Actuator: Single-Acting Pneumatic Actuators, Double-Acting Pneumatic Actuators, Pneumatic Actuators For Climate Control Systems, Pneumatic Actuators For Transmission And Gear Shift Systems, Pneumatic Actuators For Door Systems And Seats
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What New Trends Are Influencing The Automotive Actuators Market?
Companies in the automotive actuators market are focusing on the development of smart actuators to provide advanced control and improved vehicle functions. Smart actuators integrate intelligent control systems that offer precise management of vehicle functions. For example, in September 2023, Marelli Europe S.p.A. introduced a smart actuator for electric vehicles, designed to optimize transmission control and thermal management, improving energy efficiency and overall performance.
Who Are the Key Players In The Automotive Actuators Market?
Major companies operating in the automotive actuators market are:
• Robert Bosch GmbH
• Denso Corporation
• ZF Friedrichshafen AG
• Continental AG
• Magna International Inc.
• Mitsubishi Electric Corporation
• Aisin Seiki Co. Ltd.
• Valeo SA
• Eaton Corporation
• Nidec Corporation
• Schaeffler AG
• Infineon Technologies AG
• Mahle GmbH
• BorgWarner Inc.
• Hitachi Astemo Ltd.
• SKF AB
• Hella GmbH & Co. KGaA
• NSK Ltd.
• Mando Corporation
• Nexteer Automotive
• Johnson Electric Holdings Limited
• Sonceboz SA
• Delphi Technologies
• Wabco Holdings Inc.
• EFI Automotive
What Is The Most Dominant Region In The Automotive Actuators Market?
Asia-Pacific was the largest region in the automotive actuators market in 2023. The regions covered in the automotive actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
