DUBLIN--(BUSINESS WIRE)--The "Automotive Actuators Market, Global Forecast, Impact of COVID-19, Industry Trends, by Application, Growth, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Automotive Actuators Market was valued at US$ 19.65 Billion in 2020 and is projected to reach US$ 37.52 Billion by 2027, growing at a CAGR of 9.68%
Automotive actuators are the type of transducers that convert energy into motion. The automotive actuators can control a range from a simple switch to high power hydraulic devices and valves in an automotive. They effectively manage different mechanisms in vehicles, such as applying breaks, controlling doors and lighting.
Moreover, with advancements in technology, automotive actuators are being considered the backbone of reducing road fatalities. By application, automotive actuators are readily being used as throttle actuators, seat adjustment actuators, brake actuators, and closer actuators in numerous vehicle types such as light commercial vehicles, passenger vehicles, and heavy commercial vehicles. These vehicles are expected to install various actuators to enhance safety and comfort.
In addition, Hydraulic, Electric and Pneumatic are the by type variants in which the automotive actuators market has been classified. In recent years, globally, electric actuators have replaced hydraulic and pneumatic actuators due to lower noise emission, compact and lightweight design, and flexible installation alternatives. Comfort features have become a global requirement in the passenger vehicle, and OEMs are investing the best possible efforts to enhance the driving experience by installing various actuators.
Furthermore, in light commercial vehicles, passenger vehicles, and heavy commercial vehicles, electric actuators are widely used in comfort-feature actuators such as window lift drive, power tailgate drive, seat drive, and sunroof drive, among others. Notwithstanding, the leading automotive actuators manufacturers such as Robert Bosch GmbH, Continental, and Johnson Electric provide electric actuators.
The availability of inexpensive labour and raw material in the Asia-Pacific and the increasing number of local manufacturers are expected to propel the market during the forecast period in the region.
In addition, China, the world's largest vehicle manufacturer, is expected to be a driving factor for this market in the Asia-Pacific region. Moreover, China's potential to produce automotive components in large volumes at a lower cost provides it with a competitive edge over other countries.
Key players operating in the market comprise Robert Bosch GmbH, Nidec Corporation, Denso Corporation, Johnson Electric and Mitsubishi Electric Corporation.
These companies have strong distribution chains at a global level. Additionally, these companies offer an extensive product range in this market. These companies adopt new product developments, collaborations, and contracts & agreements to sustain their market position.
How has COVID-19 affected the market
The current COVID-19 outbreak that has majorly impacted several countries has severely affected the automation industry. The global impact of COVID-19 has been unprecedented and staggering, with actuators witnessing a negative demand shock across all regions amid the pandemic. Moreover, the large companies are suffering significant losses due to the country-wise lockdown. Before the pandemic, investments in the automation sector have been slow and anticipated to be postponed or held for almost a year.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Automotive Actuators Market
6. Market Share
6.1 By Actuator Types
6.2 By Vehicle Types
6.3 By Application
6.4 By Region
7. Actuator Types - Automotive Actuators Market
7.1 Hydraulic Actuator
7.2 Electric Actuator
7.3 Pneumatic Actuator
8. Vehicle Types - Automotive Actuators Market
8.1 Light Commercial Vehicle
8.2 Passenger Vehicle
8.3 Heavy Commercial Vehicle
9. Application - Automotive Actuators Market
9.1 Throttle Actuator
9.2 Seat Adjustment Actuator
9.3 Brake Actuator
9.4 Closer Actuator
10. Region - Automotive Actuators Market
10.1 North America
10.3 Asia Pacific
10.4 Latin America
10.5 Middle East Africa
11. Company Analysis
11.2 Recent Development
11.3 Financial Insight
- Robert Bosch GmbH
- Nidec Corporation
- Denso Corporation
- Johnson Electric
- Mitsubishi Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/2d3hx4