Press release
Major Force in the Automotive Actuators Market 2025: Electric Vehicle Fuels Automotive Actuators Market Growth
Automotive Actuators Market Research
The size of the automotive actuators market has significantly expanded in recent years. The market is predicted to rise from $22.6 billion in 2024 to $24 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. Factors responsible for the growth observed in the historical period include advancements in autonomous vehicles, government policies, improved fuel efficiency, reduction in emissions, aftermarket demand for actuator replacements, and an increase in the adoption of electric vehicles (EVs).
The market size of automotive actuators is foreseen to witness substantial growth in the upcoming years, increasing to $30.05 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. The predicted growth within this period is due to the increasing demand for sophisticated driver assistance systems, a rise in the production and sales of vehicles, a heightened focus on vehicle convenience and comfort, and an expanded use of electrification and hybrid vehicles. The forecast period is set to witness significant trends including the creation of self-driving vehicles, the integration of intelligent actuators, the incorporation of advanced driver assistance systems (ADAS), vehicle electrification, and the miniaturization and heightened efficiency.
What Are the Key Drivers Behind the Growth of the Automotive Actuators Market?
The upward trend in the demand for electric vehicles (EVs) is projected to significantly contribute to the expansion of the automotive actuators market. EVs are vehicles that utilize electric motors for propulsion, with their various parts and systems customized to optimize efficiency and performance. The need for EVs is on the rise due to progressive technology, mounting environmental worries and worldwide initiatives to cut down carbon emissions. In EVs, automotive actuators play a crucial role in diverse functions, offering accurate control over systems such as braking, steering, and thermal management, thereby amplifying overall vehicle performance and safety. For instance, the Internal Energy Agency, an autonomous intergovernmental organization based in France, reported that more than 2.3 million electric cars were traded during the first quarter of July 2023, reflecting a 25% increase compared to the same timeframe in the previous year. The sales are anticipated to reach 14 million by the conclusion of 2023, indicating a 35% annual increase, with sales pace hastening in the latter half of the year. Therefore, it is clear that the escalating demand for EVs is fostering the growth of the automotive actuators market.
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Who Are the Major Industry Players Fueling Automotive Actuators Market Expansion?
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
Which Key Developments Are Influencing the Automotive Actuators Market?
Leading businesses in the automotive actuators market are delivering groundbreaking innovations like smart actuators, which consist of integrated intelligent control systems that enable precise regulation of a variety of vehicle functions. An example of this occurred in September 2023 when Marelli Europe S.p.A., an Italy-based firm in the automotive sector, introduced a new smart actuator designed for the transmission and thermal regulation of electric vehicles. This advanced smart actuator bolsters the efficiency and control of electric vehicles, thereby improving their energy usage and performance. Furthermore, its key features include accurate transmission control, effective thermal management, and improved vehicle performance, all aimed at satisfying the evolving needs of the burgeoning electric vehicle industry.
How Is the Segmentation of the Automotive Actuators Market Defined?
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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What Is the Leading Region in the Automotive Actuators Market?
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 Is Covered In The Automotive Actuators Global Market Report?
- Market Size Analysis: Analyze the Automotive Actuators Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Actuators Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Actuators Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Actuators Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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Table of Contents:
Table of Contents
Global Micro Actuator Market Research Report 2018
1 Micro Actuator Market Overview
1.1…
