According to the report, the global automotive electric actuator market size is projected to surpass US$ 11.7 Bn by 2027, expanding at a CAGR of 6% during the forecast period 2020 to 2027.
xpansion of the global automotive electric actuator market is primarily due to rising investment by manufacturers for incorporation of safety features in their vehicles and change in regulatory norms for traffic safety and vehicle emission. The automotive industry has been witnessing a technological revolution in the last decade. Development and innovation in automotive actuators in conjunction with electronic components, such as microcontrollers (MCU), and their application in vehicles have revolutionized conventional vehicle technology, which in turn is responsible for significant rise in application of automotive electric actuators. For instance, electric actuators are utilized in vehicles to control various applications, ranging from basic functions such as opening and closing windows and sliding doors and opening and closing vent doors to advanced functions such as engine idle control for high-performance vehicles and regenerative braking.
Expansion of Automotive Electric Actuator Market
Reduced maintenance costs of electric actuator, owing to elimination of hydraulic components and pneumatic components, is anticipated to increase the demand for electric actuators, thus driving the automotive electric actuators market. Electric actuators provide flexible control over the electronic controller and offer immediate feedback. They can be reprogrammed easily should problems occur. Additionally, motion profiles of electric actuators can be fully controlled and encoders can be implemented for having greater control over velocity, position, torque, and applied force. This, in turn, is prompting electric vehicle manufacturers to implement electric actuators in their vehicles, thereby driving the automotive electric actuators market. Conventional braking systems, such as hydraulic brakes and pneumatic brakes, are increasingly being replaced by electronic braking systems (EBS) attributed to the multiple advantages offered by these actuator brakes including reduced maintenance costs and quiet and immediate braking. Brake actuators are used in advanced braking system. Rising penetration of these advanced braking systems in vehicles is likely to increase demand for electric actuators during the forecast period.
Key Segments
Automotive Electric Actuator Market: Regional Analysis
Key players operating in the global automotive electric actuator market include
Segmentation
Research Methodology
This VRR report on the automotive electric actuator market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the automotive electric actuator market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the automotive electric actuator market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the automotive electric actuator market, with both a bottom-up and top-down approach.
This detailed assessment of the automotive electric actuator market, along with an overview of the landscape, has been provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the automotive electric actuator market have been estimated to expand are based on carefully vetted primary and secondary sources.
Key Questions Answered in this Report on Automotive Electric Actuator Market
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