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At what pace is the automotive actuators market growing, and what is its estimated value?
The automotive actuators market size has grown strongly 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 in the historic period can be attributed to the development of autonomous vehicles, government regulations, fuel efficiency, and emissions reduction, aftermarket demand for actuator replacement, and growth in electric vehicle (EV) adoption.
The automotive actuators market size is expected to see strong growth in the next few years. It will grow to $30.05 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising demand for advanced driver assistance systems, increasing vehicle production and sales, growing focus on vehicle comfort and convenience, and expansion of electrification and hybrid vehicles. Major trends in the forecast period include the development of autonomous vehicles, integration of smart actuators, integration of advanced driver assistance systems (ADAS), electrification of vehicles, and miniaturization and increased efficiency.
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What are the top drivers to the rising demand in the automotive actuators market?
The growing demand for electric vehicles (EVs) is expected to propel the growth of the automotive actuators market going forward. Electric vehicles refer to vehicles that use electric motors for propulsion, with various components and systems tailored to maximize efficiency and performance. The demand for electric vehicles is rising due to technological advancements, increasing environmental concerns, and global efforts to reduce carbon emissions. Automotive actuators in electric vehicles serve as instrumental components for various functionalities, providing precise control over systems such as braking, steering, and thermal management, thereby enhancing the overall performance and safety of the vehicles. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of that year, a 25% increase from the same period last year. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase, with growth accelerating in the second half of the year. Therefore, the growing demand for electric vehicles is driving the growth of the automotive actuators market.
How is the automotive actuators market segmented?
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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Who are the top competitors 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 significant trends should we anticipate in the automotive actuators market over the forecast period?
Major companies operating in the automotive actuators market are developing innovative products, such as smart actuators, to better serve customers with advanced features. Smart actuators are devices integrated with intelligent control systems, allowing precise management of various vehicle functions. For instance, in September 2023, Marelli Europe S.p.A., an Italy-based automotive industry company, launched a new smart actuator for transmission and thermal management in electric vehicles. This smart actuator offers advanced control and efficiency, helping to optimize the performance and energy consumption of electric vehicles. The new actuator includes features such as precise transmission control, efficient thermal management, and enhanced vehicle performance, designed to meet the evolving demands of the electric vehicle industry.
Which regional trends are influencing the automotive actuators market, and which area dominates the industry?
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.
What Does The Automotive Actuators Market Report 2025 Offer?
The automotive actuators market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
An automotive actuator is a device used in vehicles to convert energy into mechanical motion. It is commonly used to control various functions in a vehicle, such as opening and closing valves, adjusting throttle position, controlling airflow, and operating other components. Actuators can be powered by various means, including electric motors, hydraulic systems, pneumatic systems, or a combination of these.
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