Automotive Actuators Market
Automotive Actuators Market By Product (Waste Gate Actuator, VGT Actuator, Brake Actuator), By Vehicle (Passenger Vehicles, Heavy Commercial Vehicles), By Working (Pneumatic, Hydraulic, Electromagnetic), By Sales Channel (OEM, Aftermarket)- Global Market Insights 2022 to 2032
Global Automotive Actuators Market Outlook
The global automotive actuators market is estimated at USD 20.1 Billion in 2022 and is forecast to reach USD 38.3 Billion by 2032, growing with a CAGR of 6.6% during 2022-2032.
Market size value in 2021A
USD 18.6 Billion
Market value estimated in 2022E
USD 20.1 Billion
Market value forecast in 2032F
USD 38.3 Billion
Global Growth Rate (2022-2032)
North America Market Share in 2021
North America Growth Rate (2022-2032)
Market Share of Top 5 Companies
Key Companies Profiled
Fact.MR - a market research and competitive intelligence provider, the global automotive actuators market is expected to reach valuation of around USD 20 Billion in 2022. The sales of automotive actuators are slated to accelerate at a steady CAGR of 6.6% in upcoming decade to reach the market valuation of USD 38 Billion by 2032.
The demand for heavy commercial vehicles in vehicle type is likely to grow at a CAGR of 7.7% over the assessment period of 2022-2032. The automotive electronics market valued around USD 49 Billion in 2021, whereas automotive actuators held 37% share in automotive electronics market during the same year.
The automotive actuators plays an important role in actuating applications in brakes and steering system as well as also employed in seat adjustment and headlight positing mechanisms. It is used to convert an electric signal into required rotary and linear motion to create needed physical movement. The automotive actuators demand is mostly driven by increasing electronics system and automation in vehicles.
With the developments in technologies, various actuators are likely to mount on autonomous vehicles in order to enhance the comfort and safety. The sales for automotive actuators is continuously growing due to the perpetual growth in sales as well as production of automobiles including passenger and commercial vehicles across the globe. The software programs, actuators and sensors are considered as the pillar of present & future of automotive systems.
The surge in demand for comfort coupled with fuel efficiency, particularly in passenger vehicles, is pushing the global sales of automotive actuators. The demand from passenger vehicles segment is expected to be valued at USD 15 Billion in 2022 and is likely to grow at a CAGR of 6.3% over the forecast period.
Automotive Actuators Market Historical Outlook (2017-2021) Vs. Forecast Outlook (2022-2032)
- Europe region is likely to have a market share of 21% in 2022 due to the presence of large number of automobile manufacturers like Volkswagen, Audi and Mercedes-Benz. The market valuation of Europe based automotive actuators market is expected to reach at USD 9 Billion by the end of forecast period.
- The South Asia & Oceania is presumed to hold market value of around USD 5 Billion by the end of 2022 owing to high technology adoption rate.
- The North America based automotive actuators market is likely to expand at a growth rate of 5.9% CAGR by the end of 2032.
- East Asia region had a CAGR of 3.2% in the historical period of 2016-2021 and is likely to reach a valuation of USD 6 Billion in 2022.
- The heavy commercial vehicles is expected to hold a market share of 6% in 2022 and is likely to reach a valuation of USD 2 Billion by the end of forecast period.
- The OEM segment in sales channel is expected to grow at a CAGR of 7.1% by the end of 2032.
Why China is experiencing momentum in sales of automotive actuator?
China is expected to rule over the East Asia based automotive actuator market with the major revenue share of 64% over the forecast period. China is considered as one of the largest vehicle producer, which is projected to be a dynamic factor to increase the regional sale. Also, China has the potential to manufacture several automotive based electronic components in large volumes at a less price due to ease in availability of raw material and technological advancement, which offers a competitive edge over other economies.
What is the Scenario for Automotive Actuators Sales in India?
India has a huge demand for passenger cars and presumed to grow with a CAGR of 6.3% over the forecast period due to the rising economy and fixing of safe and technically advanced actuators and sensors in vehicles. This is expected to reach a valuation of USD 3 Billion by 2032. The economies like U.S and Germany purchases several automotive components like actuators and sensors from this region as it is considered as a hub for automotive parts manufacturers.
What are the Key Factors propelling demand for Power Seat Actuator?
The sales of commercial and passenger cars continues to grow, and the car manufacturers have made interiors as one of the main focus areas, in order to increase the comfort and safety of passengers. As a part of such effort, the automotive actuators have reaped major attention, in order to make seats more smart and comfortable. The power seat actuator as a product type is likely to grow at a CAGR of 5.8% over the period of 2022-2032.
The power seat actuators are used in seats to fine-tune the angles, seat adjustment and lumbar support systems. Numerous types of automotive power seat actuator are available in the market, such as linear actuators for tilt & height adjustments and geared motors for recliner change among others. The OEMs are installing various electronic systems to control almost every part of a vehicle. Owing to the increase in the sales of premium types of vehicles at the global level, the power seat actuator segment is likely to grow 1.8X over the forecast period.
Why Passenger Vehicles Segment is presumed to Unfold Growth Opportunities for Automotive Actuator Market?
The passenger vehicle is expected to be the fastest moving segment in the automotive actuators market. There is growth in demand for fuel efficient vehicles, moreover rise in price of oil & energy acts as a catalyst factor for market. The passenger vehicles had registered a growth rate of 6.3% CAGR during the period of 2016-2021 and presumed to remain in same growth trajectory, since the above factors came into play. The passenger vehicles segment is likely to reach a valuation of USD 28 Billion by the end of 2032.
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Fact.MR profiled the following key automotive actuator manufacturers in its report are, Delphi Automotive, Mitsubishi Corporation, Denso Corporation, Robert Bosch GmBH, Continental AG, HELLA GmBH & Co. KGaA, Johnson Electric Holdings Limited, CTS Corporation, CVEL Automotive electronics, Hitachi Ltd., Dover Flexo Electronics, Inc., Tolomatic Inc., Kenko E Motion And Actuators and Creative Motion Control are identified as key players manufacturing automotive actuators.
To increase the adoption across the lucrative areas, the above mentioned companies’ uses a combination of organic & inorganic methodologies, in addition to partnerships and collaborations with prominent end use verticals such as automotive manufacturers.
Some of the key developments are:
- In 2022, Continental AG had partnership with Arkamys to improve the audio solutions in vehicles where continental sound type of automotive actuators were installed in a demo vehicle firstly fortified with conventional commodity speakers.
- In 2021, Continental AG and Sennheiser had launched speaker less audio system for the interior of vehicles, where Sennheiser titles to make an immersive audio with the help of automotive actuators inside the vehicle to produce sound.
- In 2019, HELLA GmbH & Co. KGaA extended its electronics capability in the area of distinctive applications. The company expanded its portfolio ranging from sensors, energy management and automotive actuators through body electronics right up to assisting the driver systems.
Similarly, recent developments by top providers of automotive actuators have been tracked by the team at Fact.MR, which are available in the detailed report.
Market Segments Covered in Automotive Actuator:
By Product :
- 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.)
By Vehicle :
- Passenger Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
By Working :
- Gear Motors or Electric
By Sales Channel :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
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