The Automotive Actuators market is projected to grow from USD 20.9 Billion in 2023 to reach USD 29.3 Billion by 2030 at a CAGR of 4.9% during the forecast period. The growing production of passenger cars, light, and heavy commercial vehicles in developed and developing countries is primarily driving the sales of actuators such as brake actuators, cooling valve actuators, throttle actuators, HVAC actuators, power windows, EGR, turbochargers, door lock actuators.
In addition, manufacturers are encouraged to develop automotive actuators for several applications, such as power seats, piezoelectric, grille shutters, adjustable steering columns, and adaptive front lighting. This is owing to the growing emphasis on enhanced road safety requirements, supporting legislation, consumer awareness of active and passive safety features, high customization, and customer-centric technical development.
In the electric & hybrid vehicles actuators market, the market of Battery Electric Vehicle is expected to hold the largest share and is growing significantly. Global demand for electric vehicles has been spurred by the introduction of strict pollution rules, fluctuating oil costs, and a shift in attention towards an environmentally friendly ecology. These factors are pushing the global OEMs and tier-I suppliers to develop products specific for vehicles with electric and hybrid powertrains as a result of growing sales of these vehicles. For instance, In September 2023, Marelli launched its new range of multipurpose smart actuators aimed at electric cars designed to simplify complex vehicle functions. These new smart actuators include an electronic module that autonomously controls the actuator itself and connects it to the vehicle’s electronic network.
Further, the penetration of advanced and connected technologies in high-end electric vehicles is higher, and demand for these luxury and premium electric cars is rising. Luxury brands such as Mercedes-Benz, Tesla, and Audi are gaining market share in luxury EV sales and adding other luxury EV models to their product lineups. The rising number of electronic and electric components within vehicles will accelerate the demand for smart actuators across all vehicle segments in the region.
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Multiple OEMs have announced the launch of several EV models in the coming years. Growing medium to high-range electric vehicle sales installed with advanced technologies would push this segment’s demand for automotive actuators. Increasing sales of electric and hybrid vehicles have prompted global OEMs and tier-1 companies to develop products specific to these powertrain vehicles. In September 2023, Marelli launched its new range of multipurpose smart actuators aimed at electric cars, designed to simplify the actuation of complex vehicle functions. These new smart actuators include an electronic module that autonomously controls the actuator itself and connects it to the vehicle’s electronic network.
As technology advances, the automation level of vehicles is likely to increase and incorporate a vast number of actuators to enhance safety and comfort features without hampering the driving experience. In addition, sensors, software programs, controller hardware, and actuators form the foundation of present and future automotive systems. This enhancement in the automotive vehicle body and rising demand for comfort features in the vehicles is increasing the applications of actuators in the body & exterior part of the vehicle, which is expected to grow with the highest growth rate during the forecast period.
Based on product type, brake actuators are predicted to lead the global automotive actuators market throughout the forecast period. This rise is primarily attributable to the fact of its mandatory fitment in all categories of vehicles. This brake actuator is fitted on each wheel of a certain vehicle, such as a passenger car; typically, four brake actuators are mounted. Government agencies’ main priorities include enhancing public safety. It is projected that strict safety rules and the comfort of passenger cars would increase sales of future developments in automobile actuators. Several nations have mandatory integrated ADAS-equipped vehicles, which include automotive anti-lock braking systems (ABS), electronic brakeforce distribution (EBD), brake assist, etc., which fuels the market’s expansion even more as these systems need an additional count of actuators along with the essential actuators in the vehicles. This further inclusion of actuators is driven by the rising demand for ADAS-equipped vehicles, which will cause the market in upcoming years.
Asia Pacific is expected to remain the largest market and is anticipated to grow the highest CAGR during the forecast period of 2023–2030. The key factor driving the market growth in the region is the increased production of passenger vehicles. China, Japan, and India are considered manufacturing hubs for the automotive sector and gradually become the hot spot in terms of safety and comfort features among consumers. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), China, Japan, and India produced more than 40 million vehicles in 2022. China accounts for the largest share of the automotive actuators market in the Asia-Pacific region, followed by Japan, India, and South Korea. OEMs from countries including China and India have started offering advanced features such as electric tailgates, door locks, sunroofs, automatic air conditioning, and level 2 ADAS features in top trims of mid-range passenger vehicles. This will substantially drive the automotive actuators market in the region throughout the forecast period.
Key Market Players:
The automotive actuators market is led by globally established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), HELLA GmbH & Co. KGaA (Germany), and Johnson Electric (Hong Kong). These companies have strong distribution networks at a global level in addition to their extensive range of products.
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