Pune, India, April 27, 2021 (GLOBE NEWSWIRE) -- According to the report, Automotive Actuators market size is projected to reach remarkable value by 2026. Actuators are used for converting electric signals that are delivered into tangible action from the central control unit.
The global automotive actuators market is expected to gain momentum from the increasing utilization of advanced automation systems worldwide.
Actuators aid in maintaining torque, idle speed, and flywheel rotation of engines for enhancing the performance of vehicles, as well as smoothening engine efficiency. This factor would fuel the automotive actuators market growth in the coming years.
Surging Demand for Electric Vehicles to Stymie Market Growth
The pneumatic segment would also grow significantly as they are increasingly used because of their high energy conversion capability. It is capable of converting energy from compressed air into linear motion. It is also used in engine controls. Lastly, the electric segment is expected to grow at a fast pace on account of the high demand for fuel-efficient vehicles.
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In terms of type, the market is segregated into pneumatic, electric, and hydraulic. Amongst these, the hydraulic segment is anticipated to generate considerable automotive actuators market share in the coming years. This growth is attributable to the usage of hydraulic power in fluid motors to complete a mechanical operation.
Developed countries, such as the U.S. and Germany, are the biggest hubs for automotive parts manufacturing. It would also propel the growth of the market in this region. Europe and North America would follow the footsteps and Asia Pacific and grow steadily during the forthcoming years.
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Expansion of Auto Sector to Drive the Market in Asia Pacific
In terms of geography, the market is grouped into Europe, the Middle East and Africa, North America, Latin America, and Asia Pacific. Out of these, Asia Pacific is projected to lead by acquiring the highest automotive actuators market revenue in the coming years. This growth is attributable to the increasing production capacity that this region possesses. Besides, the rising installation of safe and technologically advanced actuators and sensors in vehicles is, in turn, up surging the demand for passenger cars in this region.
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Prominent enterprises present in the market are mainly focusing on collaborating with other companies and expanding specific areas to serve their consumer base efficiently and increase sales. Below are a couple of the latest key industry developments:
- Johnson Electric Holdings Limited
- Valeo S.A.
- Wabco Holdings Inc.
- Mitsubishi Electric Corporation
- Continental AG
- Denso Corporation
- Nidec Corporation
- Robert Bosch GmbH
- Hitachi Ltd.
- Stoneridge Inc.
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Global Automotive Actuators Market Segmentation:
By Application Type:
- Fuel Injection
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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