Press release
Automotive Actuators Market - Global Forecast to 2027
The increasing demand for fuel-efficient vehicles, the trend of engine downsizing, growing levels of comfort, and rising production volume of passenger cars, light, and heavy commercial vehicles in countries such as the US, China, and India have fueled the demand for automotive actuators across the globe.
The report analyzes all major players in this region for the automotive actuators market, including Hitachi Automotive Systems, Ltd. (Japan), Denso Corporation (Japan), and Mitsubishi Electric Corporation (Japan).
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The off-highway vehicle segment is estimated to be the fastest during the forecast period
The off-highway vehicle segment is anticipated to be the fastest in the automotive actuators market. Increasing government investments in infrastructural development, thriving agricultural businesses in developing nations, and the emergence of leased/rent-based equipment are driving the off-highway vehicle market. The traditional role of actuators in off-highway vehicles has involved the application of force to perform tasks. As vehicles become complex, OEMs are accumulating features that naturally involve the use of electronic controls to deliver more complex, optimized, and safer motion.
The electric segment is expected to grow at the highest CAGR in the global market
Electric actuators have replaced hydraulic and pneumatic actuators due to lower noise emission, compact and lightweight design, and flexible installation options. Comfort features have become a global requirement in the automotive industry, and OEMs are investing the best possible efforts in enhancing the driving experience by the installation of various actuators.
Electric actuators are widely used in comfort-feature actuators such as window lift drive, power tailgate drive, seat drive, and sunroof drive, among others. Electric actuators are more precise in actuation than hydraulic and pneumatic actuators. Leading automotive actuators manufacturers such as Robert Bosch GmbH, Continental, and Johnson Electric provide electric actuators.
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On-highway vehicle segment-a promising market for automotive actuators
The on-highway vehicle segment is estimated to be the largest in the automotive actuators industry. An increasing number of electric and fuel-efficient vehicles in the automobile industry has driven the growth of the automotive actuators in this segment. This segment comprises a number of automotive actuators that help manage and control various applications.
Asia Pacific: The largest market for automotive actuators
The Asia Pacific is estimated to hold the largest share, in terms of volume, of the automotive actuators market in 2019. The demand for automotive actuators in this region is triggered by increasing vehicle production in developing nations such as China and India and the increasing number of electric vehicles in countries such as China and Japan. The region is also the leading producer of automobiles in the world.
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