DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/qhjrz8/global_automotive) has announced the addition of the "Global Automotive Actuators Market - Growth, Trends and Forecasts (2015-2020)" report to their offering.
The global market for Automotive Actuators is estimated to touch $22.41 billion by 2020 with an estimated CAGR of 10.75% over the forecast period. Europe was the largest market for automotive actuators as of 2014. However, Asia-Pacific region is expected to become the major market for these systems, with India, Japan and China stepping ahead towards becoming automotive component manufacturing hubs and supplying to countries such as the US and Germany.
Actuators have been employed in automobiles for long in converting source energy into motion, in short acting as a trigger for an action. With latest technological advancements, even this trigger component got upgraded from time to time, in order to the catch up with the growing parent industry. High-response, high-thrust, electrically driven ball screw actuator, developed by NTN in 2009 was one notable breakthrough development for this component and since then, several other companies have focused on developing better actuators.
Increasing global population and a subsequent spike in the vehicle owning households, has spiked up demand for fuel efficient vehicles. Engine downsizing trends, stringent government regulations for reduction of emissions and fuel consumption from the automotive industry are some of the other major factors that are driving the market for automotive actuators towards growth.
The market has been segmented based on the latest technologies, by type, by application type, by vehicle type and by geography. The market for electric actuators and hybrid of electric and hydraulic actuators is expected to grow exponentially over the coming 5 years, owing to the latest advancements such as mini electric actuators, which find their extensive application in the advanced driver assistance and automotive sensors systems.
Key Topics Covered:
2. Executive Summary
3. Market Dynamics
4. Market Segmentation
5. Competitive Landscape
6. Company Profiles
For more information visit http://www.researchandmarkets.com/research/qhjrz8/global_automotive