The global automotive actuators market is expected to post a CAGR of over 8% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive actuators market 2019-2023. (Graphic: Business Wire)
Automotive actuators, especially electric actuators, are extensively used in vehicles with more electronic components. However, the application of electric actuators is limited to lightweight applications such as electric steering and not for heavy applications such as opening and closing of the sunroof, opening lift gates, and shifting gears. Most of the advanced automotive parts that require actuators are for high-powered actuation. Even disc brakes, which are standard features in automobiles, use hydraulic actuators. All gear shift mechanisms, including automated manual transmission, torque converter-based shifts, and dual-clutch transmissions use hydraulic actuators. These factors will boost the global automotive actuators market growth during the forecast period.
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As per Technavio, the increasing trend in the adoption of active suspension systems will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Actuators Market: Increasing Trend in Adoption of Active Suspension Systems
The increasing adoption of active suspension systems is considered as one of the critical trends in the global automotive actuators market. To meet the need for passenger comfort, automotive suspension systems are upgraded continuously. Vehicle makers are innovating such systems to provide optimum vehicle balance, reduced vibrations, and minimal wear of drivetrain components. Active suspension systems have improved safety and comfort in vehicles. These systems monitor road conditions continuously and adjust the height of the vehicle chassis to absorb vibrations and shocks. These active suspension systems are operated electromagnetically or hydraulically, which subsequently increases the demand for automotive actuators.
"Apart from the trending adoption of active suspension systems, the increasing electronic components in vehicles and the rising need for fuel-efficient vehicles are a few other crucial factors that will boost market growth during the forecast period," says a senior analyst at Technavio.
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Global Automotive Actuators Market: Segmentation Analysis
This market research report segments the global automotive actuators market by application (body control, interior, and exterior, engine, and chassis) and geographical regions (the Americas, APAC, and EMEA).
APAC led the market in 2018, followed by the Americas and EMEA. During the forecast period, APAC is expected to maintain its dominance in the global market. This is due to the rising awareness of reducing vehicular emissions and road safety in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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