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Power Seat Actuator Market – Asia Pacific region to register a share of around 39% by 2030-end

The global automotive actuators market was valued at ~US$65.8 Bn at the end of 2019 and is anticipated to surpass US$109.4 Bn during the forecast period 2020-2030. The COVID-19 pandemic has led the automotive market towards a major slowdown worldwide. The sales of automotive actuators have plummeted with the shutdown of production facilities in leading automotive markets of Europe and Asia, thus posing major challenges to the players operating in automotive market. To overcome this situation, the manufacturers are focusing on research and development to form integrated braking systems which will ensure engine efficiency as well as fuel efficiency. This is anticipated to drive sales of brake actuators during the forecast period. Furthermore, the global demand for automotive actuators will surge by the end of 2020 as they are utilized in number of applications where machineries are involved.

 

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Key Takeaways of Automotive Actuators Market

  • Under the impact of Covid-19, global automotive actuators market is expected to create an absolute $ opportunity of more than ~US$ 44.5 and is anticipated to expand 1.7X from 2020 through 2030
  • VGT actuator is projected to grow at a value CAGR of 5.4% and is expected to be valued 2.9X more than EGR actuator by the end of 2020
  • APEJ region is anticipated to be the market leader in the global automotive actuator market by the 2030 end with more than 39% market share in terms of value
  • Aftermarket sales channel is projected to grow 1.6X faster than OEM sales channel and is anticipated to create an absolute $ opportunity of more than ~US$ 27.1 Bn during the forecast period

 

Automotive Actuators Market
Automotive Actuators Market

 

The ongoing COVID-19 pandemic has hit the automotive players adversely on both the supply and demand side causing declining sales of automotive actuators. However, with Chinese automotive suppliers resuming their production, this is expected to swiftly increase the sales of automotive actuators” says the Fact.MR analyst

 

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Facility Expansion to Remain a Prime Growth Lever

Prominent players in the automotive actuators market are Delphi Technologies Inc., Mitsubishi Electric Corporation, Denso Corporation, Continental AG, CTS Corporation, BorgWarner Inc., HELLA KGaA Hueck & Co, Hitachi, Ltd, Johnson Electric, among others. Key players in automotive actuators market are focusing on expanding their manufacturing facilities to increase their reach in the global market. For instance,

  • In 2019, Delphi Technologies opened a new plant in Poland. With this plant, the company will expand the production of electronic control units for various vehicle manufacturers in Europe
  • In 2019, Mitsubishi Electric Corporation started the construction of a new plant in India. Through this new plant, the company will expand its output of products such as motor-control units for electric power steering, exhaust gas recirculation valves and giant magnet-resistance sensors

 

Read More Trending Reports of Fact.MR – http://www.globenewswire.com/en/news-release/2019/07/24/1887142/0/en/Sales-of-Automotive-Actuators-Sparked-Higher-Due-to-Swelling-Demand-for-Compact-Passenger-Cars-reports-Fact-MR-study.html

 

Find More Valuable Insights on Automotive Actuators Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global automotive actuators market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the automotive actuators market based on product type (waste gate actuator, VGT actuator, throttle actuator, brake actuator, EGR actuator, power seat actuator, grille shutter, HVAC actuator, headlamp actuator, others (quick attach, hood lift, etc.), vehicle (passenger vehicle, commercial vehicle, heavy commercial vehicle), working (pneumatic, hydraulic, electromagnetic, gear motors or electric), and sales channel (OEM, aftermarket) across six major regions.

About the Automotive Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automotive team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

 

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More Automotive Industry Market Reports from Fact.MR

Motorcycle Market Global motorcycle sales were to the tune of US$ 112 billion in 2018 and revenues are estimated to grow at a CAGR of 3.8% during the 2017-2026 period. APAC is estimated to continue to remain the largest motorcycle market in the foreseeable future. An exponential rise in the global urban population with the UN Department of Economics and Social Affairs estimating 90% of the transition taking place in Asia is one of the key factors contributing to the surge in demand for motorcycles in the region.

Automotive Gear Shift System Market– Burgeoning demand for automobiles in both developing and developed economies coupled with the growing production of electric vehicles is expected to fuel automotive gear shift system market proliferation which was valued at US$ 22 billion in 2018 and is estimated to witness a steady growth at a CAGR of over 4.5% during 2018-2028.

Automotive Radar Market– The global automotive radar market holds impressive growth prospects in the foreseeable future and the roughly US$ 2 Bn automotive radar market revenue is predicted to reach the value beyond US$ 7 Bn over 2017-2022. Prominently driven by automotive and automotive radar manufacturers to adopt technology innovations for greater road safety, the global market for automotive radar is expected to gain a major boost by several initiatives by governments across the globe.

 

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