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Automotive Actuators Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Automotive Actuators
What Is the Forecasted Market Growth Rate of the Automotive Actuators Industry?
The market size of automotive actuators has seen a steady increase over the past few years. The market is projected to elevate from $22.6 billion in 2024 to $23.68 billion in 2025, achieving a compound annual growth rate (CAGR) of 4.8%. The historical growth has been driven by factors such as the emergence of self-driving vehicles, government policy and regulation, fuel efficiency and emission reduction mandates. Also contributing to the growth is the aftermarket demand for actuator replacements, and an increase in the adoption of electric vehicles (EVs).
How Will the Automotive Actuators Market Size Evolve From 2025 to 2029?
The automotive actuators market is predicted to experience consistent growth in the upcoming years, with an expected market size of $28.75 billion in 2029 and a CAGR of 5.0%. This upward trajectory during the estimated timeframe can be ascribed to the surging demand for technologically advanced driver assistance systems, escalating vehicle production and sales figures, expanding emphasis on enhancing vehicle comfort and convenience, as well as the progression of electrification in hybrid vehicles. Notable trend projections within this period encapsulate the evolution of autonomous vehicles, smart actuators integration, incorporation of cutting-edge driver assistance systems (ADAS), vehicle electrification, along with miniaturization and improved efficiency.
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What Are the Main Growth Drivers in the Automotive Actuators Market Today?
The surge in demand for electric vehicles (EVs) is set to enhance the growth trajectory of the automotive actuators market. Electric cars, which utilize electric motors for propulsion and incorporate components and systems to optimize performance, are gaining popularity because of technological developments, escalating environmental concerns, and worldwide initiatives to curtail carbon emissions. Automotive actuators play a pivotal role in electric cars, facilitating precise management of functions such as braking, steering, and thermal regulation, thereby improving vehicle performance and safety. For example, the Internal Energy Agency, an autonomous intergovernmental organization based in France, reported that over 2.3 million electric cars were purchased in the first quarter of 2023, indicating a 25% rise from the same quarter the previous year. Sales by the close of 2023 are projected to hit 14 million, showing a 35% annual increase, with a surge expected in the latter half of the year. As such, the burgeoning demand for electric vehicles is fuelling the expansion of the automotive actuators market.
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Which Automotive Actuators Market Segment Is Expected to Lead Through 2029?
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), After market
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
Which Market Trends Are Expected to Dominate Automotive Actuators Industry Growth?
Prominent businesses in the automotive actuators market are generating inventive products like smart actuators to cater to customers with cutting-edge features. These devices are integrated with clever control systems to offer exact control over different vehicle functionalities. For example, in September 2023, Marelli Europe S.p.A., an automotive corporation based in Italy, introduced their new smart actuator for transmission and thermal control in electric vehicles. This advanced actuator provides improved efficiency and control, aiding in the enhancement of performance and reduction of energy use in electric vehicles. The newly launched actuator has characteristics such as accurate transmission control, efficient thermal regulation, and improved vehicle output, geared to meet the ever-changing needs of the electric vehicle sector.
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Which Companies Hold the Largest Market Share in the Automotive Actuators Sector?
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
Where Is the Automotive Actuators Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the automotive actuators market in 2024. The regions covered in the automotive actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Speak With Our Expert:
Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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Table of Contents:
Table of Contents
Global Micro Actuator Market Research Report 2018
1 Micro Actuator Market Overview
1.1…
