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.
- Based on application, the interior segment held a leading share of the automotive electric actuator market, as it comprises products, including power window, power seat, HVAC, steering column, and several others. Increasing penetration of power seat in passenger vehicles and HVAC systems in light commercial vehicles is likely to propel the demand for interior applications of electric actuators.
- Based on valve type, 2 port valve actuators was a highly attractive segment of the market for 2019, owing to advantages offered by these actuators, such as affordable price, ease of installation and maintenance, lower maintenance cost, and compact and lightweight
- Based on vehicle type, the passenger vehicle segment held a significant share of the market in 2019. High demand for SUVs, crossovers, and hatchbacks is driving the passenger vehicle segment, thereby boosting the automotive electric actuator market. Increased buying power and preference for private transport is further boosting the passenger vehicle segment.
- Based on sales channel, the OEM segment is likely to lead the market, as most OEMs, such as Volkswagen, GMC, Tesla, and Ford, provide components for more efficient carbon emission, such as automotive electric actuator, in their vehicles. Moreover, major associations have enacted various norms to improve carbon emission systems in vehicles. These mandatory norms for all OEMs led the OEM segment to hold a major share of the market in 2019.
Automotive Electric Actuator Market: Regional Analysis
- In terms of region, Asia Pacific is estimated to account for a notable share of the global market, in terms of revenue, due to higher production of vehicles in China and Japan. Furthermore, the adoption and production of electric vehicles in China is higher, as compared to that in other countries, owing to government incentives and norms. This, in turn, is likely to further boost the automotive electric actuator market.
- The automotive electric actuator market in Middle East & Africa is expanding at a notable pace, owing to a rise in the demand for vehicles with premium luxury and comfort features. Countries in GCC have stable economies owing to the presence of a prominent petrochemical industry. Lower fuel prices and rise in disposable income in GCC are anticipated to boost vehicle sales in the sub-region.
Key players operating in the global automotive electric actuator market include
- Borg Warner Inc.
- Continental AG
- CTS Corporation
- DENSO Corporation
- Hella GmbH & Co.
- Hitachi Ltd.
- Johnson Electric
- MAHLE GmbH
- Mitusbishi Corporation
- Nidec Motors & Actuators
- Robert Bosch GmbH
- Robertshaw Controls Pvt. Ltd.
- Automotive Electric Actuator Market, by Product Type
- Headlamp Actuator
- VVT Actuator
- EGR Actuator
- Power Seat Actuator
- Power Window Actuator
- Hood Lift Actuator
- Brake Actuator
- Cooling Valve Actuator
- Active Grille Actuator
- HVAC Actuator
- Steering Column Actuator
- Sunroof Actuator
- Tailgate Actuator
- Turbo Actuator
- Throttle Actuator
- Wiper Actuator
- Automotive Electric Actuator Market, by Valve Type
- 2 Port Valve
- 3 Port Valve
- 4 Port Valve
- 5 Port Valve
- Automotive Electric Actuator Market, by Vehicle Type
- Passenger Vehicle
- IC Powered Vehicle
- Electric Vehicle
- Light Commercial Vehicle
- IC Powered Vehicle
- Electric Vehicle
- Heavy Commercial Vehicle
- IC Powered Vehicle
- Electric Vehicle
- Automotive Electric Actuator Market, by Application
- Body & Exterior
- Automotive Electric Actuator Market, by Sales Channel
- Automotive Electric Actuator Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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
- How much value will the automotive electric actuator market generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2027?
- What are the impact factors and there effects on the market for automotive electric actuator?
- What regions currently contribute the maximum share to the overall automotive electric actuator market?
- What are the indicators expected to drive the automotive electric actuator market?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the automotive electric actuator market to expand their geographic presence?
- What are the major advancements witnessed in the automotive electric actuator market?
- How regulatory norms affected the market for automotive electric actuator market?