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Leading Growth Driver in the Automotive Actuators Market in 2025: Electric Vehicle Fuels Automotive Actuators Market Growth Driver's Influence
Automotive Actuators Market
The surge in demand for electric vehicles (EVs) is predicted to significantly contribute to the expansion of the automotive actuators market. The term "electric vehicles" refers to transport modes that rely on electric motors for movement, equipped with a variety of customized components and systems to optimize efficiency and performance. The need for electric vehicles is surging due to advancements in technology, heightened ecological concerns, and worldwide initiatives to cut down on carbon emissions. In EVs, automotive actuators play a pivotal role by enabling a myriad of functions, offering precise management of systems like braking, steering, and temperature control, thereby improving performance and ensuring vehicle safety. For example, the Internal Energy Agency, an autonomous intergovernmental organization based in France, reported that in July 2023, more than 2.3 million electric cars were purchased in the initial quarter of the year, marking a 25% rise from the previous year during the same period. Sales are predicted to hit 14 million by the end of 2023, indicating a 35% annual growth, with the pace of growth likely to speed up in the latter half of the year. Consequently, the escalating demand for electric vehicles is fuelling the expansion of the automotive actuators market.
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What is the future CAGR of the automotive actuators market, and how will it impact industry expansion?
The size of the automotive actuators market has significantly expanded in the past few years. It is projected to increase from a worth of $22.6 billion in 2024 to $24 billion in 2025, maintaining a compound annual growth rate (CAGR) of 6.2%. This growth during the historical period can be credited to several factors such as the emergence of self-driving vehicles, government norms, improvements in fuel efficiency, emissions decrease, the aftermarket demand for actuator replacements, and the rise in the acceptance of electric vehicles (EV).
The auto-actuators market is poised to experience significant expansion in the upcoming years, with its worth projected to reach $30.05 billion by 2029, boasting a compound annual growth rate (CAGR) of 5.8%. This surge over the forecast period can be linked to the escalating demand for sophisticated driver aid systems, augmenting vehicle production and purchases, heightened focus on auto comfort and amenities, and the proliferation of electrified and hybrid vehicles. Key trends expected in the forecast period incorporate autonomous vehicle advances, the integration of smart actuators, incorporation of cutting-edge driver aid systems (ADAS), vehicle electrification, alongside miniaturization and improved efficiency.
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What are the most significant trends transforming the automotive actuators market today?
In the automotive actuators market, dominant firms are introducing unique products like intelligent actuators that provide additional features to customers. These smart actuators are essentially devices that have been combined with clever control systems to enable accurate handling of various car features. As an example, in September 2023, a new smart actuator for electric vehicles' transmission and thermal management was released by Marelli Europe S.p.A., a venture based in Italy that operates in the automotive industry. This particular actuator, contributing to advanced control and efficiency, aids in improving electric vehicles' performance and power usage. With attributes like precise transmission regulation, effective thermal management, and improved vehicle performance, the new actuator is intended to meet the current needs of the electric vehicle sector.
Which key market segments comprise the automotive actuators market and drive its revenue growth?
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 regions are at the forefront of automotive actuators market expansion?
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.
Who are the leading players fueling growth 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
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What Is Covered In The Automotive Actuators Global Market Report?
•Market Size Forecast: Examine the automotive actuators market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive actuators market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive actuators market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive actuators market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive actuators market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive actuators market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive actuators market.
•Competitive Landscape: Review strategic developments in the automotive actuators market, including expansions, agreements, and new product launches.
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Table of Contents:
Table of Contents
Global Micro Actuator Market Research Report 2018
1 Micro Actuator Market Overview
1.1…
