Automotive Torque Actuator Motor Market to Hit $14.9 Billion by 2031, 5.6% CAGR Growth Forecast

The Automotive Torque Actuator Motor Market report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. The global automotive torque actuator motor market was valued at $8.9 billion in 2021, and is projected to reach $14.9 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

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The prominent key factors that drive the growth of the automotive torque actuator motor market are increase in vehicle production in developing countries, and increase in demand for engine performance and fuel efficiency. The market economy is also responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are developing economies. Thus, the manufacturing sector witnessed prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the automotive industry which in turn is expected fuel the market. In addition, in some undeveloped countries, there is an increase in the production and sales of vehicles, which is expected to boost the automotive torque actuator motor industry.

Increase in vehicle production in developing countries in developing nations owing to urbanization and surge in demand for engine performance & fuel efficiency drive the growth of the global automotive torque actuator motor market. Region-wise, the market in Asia-Pacific is expected to dominate in terms of revenue and attain the fastest growth during the forecast period.

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The report offers a detailed segmentation of the global automotive torque actuator motor market based on distribution channel, application, vehicle type, type, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

The key players profiled in this report include

Leading players of the global Automotive torque actuator motor market analyzed in the research include B Bray International, Continental AG, CTS Corporation, Electrocraft, Inc., Emerson Electric Co., HIWIN Technologies Corp., Igarashi Motors India Limited, Johnson Electric, Mabuchi Motor Co., ltd., Mitsuba Corporation, NSK, Rheinmetall, Siko-Global, Sonceboz, and Val-Matic Valve & Mfg. Corporation.

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In 2021, Asia-Pacific region dominated the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the automotive torque actuator motor market in 2021. The rapid growth of the automobile sector across all segments along with growing customer inclination toward advancements of the fuel-efficient vehicles propels the growth of the market.

Based on type, the electrical segment was the largest in 2021, grabbing more than 90% of the global automotive torque actuator motor market share and would dominate in terms of revenue during the forecast period. However, the pneumatic segment is expected to witness the fastest CAGR of 16.5% during the forecast period.

Based on vehicle type, the passenger car segment was the largest in 2021, grabbing nearly three-fourths of the global automotive torque actuator motor market share and would dominate in terms of revenue during the forecast period. The same segment would witness the fastest CAGR of 6.0% during the forecast period. The report also includes light commercial vehicle and heavy commercial vehicle.

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Based on application, the electronic throttle control (ETC) segment was the largest in 2021, capturing two-fifths of the global automotive torque actuator motor market share, and would rule the roost through 2031. Moreover, the same segment is estimated to witness the fastest CAGR of 6.3% during the forecast period. The report also offers an analysis of the turbocharger, exhaust gas circulation (EGR), and others segments.

Regional Analysis:

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for over one-third of the global automotive torque actuator motor market share and would maintain a progressive revenue growth during the forecast period. The same market is expected to manifest the highest CAGR of 6.3% from 2022 to 2031. The other regions analyzed in the study include North America, Europe and LAMEA.

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