World Automotive Actuators Market Report, 2019-2027 - Major Manufacturers are Robert Bosch, Continental, Denso Corporation, and HELLA GmbH & Co - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 8, 2019--
The “Automotive Actuators Market by Vehicle, Application, On-Highway Vehicle, Actuation, Motion, Product (Brake, Cooling Valve, Power Window, Throttle, EGR, Power Seat, Grille Shutter, HVAC, Headlamp, Piezoelectric), and Region - Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The automotive actuators market is estimated to be USD 22.8 billion in 2019. It is projected to grow at a CAGR of 7.1% to reach USD 39.5 billion by 2027.
The automotive actuators market comprises major manufacturers such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), and HELLA GmbH & Co. KGaA. (Germany).
Increase in production of passenger cars and commercial vehicles is a significant factor for the growth of the automotive actuators market globally
The automotive actuators market is growing in tandem with the constant growth in production as well as sales of automobiles (passenger cars, LCVs, HCVs, and off-highway vehicles) across the globe.
Sensors, software programs, controller hardware, and actuators are considered to be the backbone of the present and future automotive systems. The use of sensors and actuators in the automotive industry is increasing every day. The designing of such automotive sensors and actuators has resulted in increasing usage of microelectromechanical systems (MEMS). The aforementioned factors have contributed to the growth of the global automotive actuators market.
Increasing application of actuators in the body & exterior segment is likely to propel the growth of automotive actuators market during the forecast period
Body control is the electronic control unit that monitors and controls all the systems of a vehicle body. The body control and exterior applications consist of grille shutter actuator, tailgate actuator, and headlamp actuators, among others. Actuators play an important role in body control and exterior applications and are responsible for moving and controlling the system.
The rotatory segment is expected to grow at the highest CAGR
Rotary actuators are coupled directly to a rotating load and provide good control over acceleration, operating speed, deceleration, reversals, and positioning. Other applications of rotary actuators include pressure clamps and opening and closing of large-scale blades and valves.
Rotary actuators are not restricted by distance and can provide infinite repeated motion. The specialty of rotary actuators is that they can be mounted horizontally, vertically, or slantwise, which has contributed to the growth of rotatory actuators in the automotive actuators market.
The RoW market is expected to register the fastest growth during the forecast period
The RoW automotive actuators market is estimated to be the fastest-growing. RoW region considered in the study includes Brazil, Iran, and other countries from South America, the Middle East, and Africa. These countries are growing in terms of automobile production and expected to flourish in the near future as OEMs are investing in several RoW countries.
Factors such as increasing demand for automobiles, availability of cheap labor, lenient environmental regulations, low transportation costs, and flexible export-import policies are driving the growth of the automotive industry in this region. According to industry experts, the market for luxury and mid-sized vehicles in Brazil would grow further and subsequently boost the demand for automotive actuators during the forecast period.
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INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
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PUB: 11/08/2019 02:00 PM/DISC: 11/08/2019 02:00 PM