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Automotive Actuators Market

Automotive Actuators Market worth $33.5 billion by 2030

According to a research report "Automotive Actuators Market By Product Type, Application, Actuation, Motion, Vehicle Type, On-Highway Vehicle, EV Propulsion, EV Application and Region - Global Forecast to 2030" published by MarketsandMarkets, The automotive actuators market size is projected to grow from USD 27.9 billion in 2024 to USD 33.5 billion by 2035, at a CAGR of 3.1%.

Browse 382 market data Tables and 88 Figures spread through 374 Pages and in-depth TOC on "Automotive Actuators Market, By Product Type, Application, Actuation, Motion, Vehicle Type, On-Highway Vehicle, EV Propulsion, EV Application and Region - Global Forecast to 2030"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automotive-actuators-market-166095652.html

The automotive actuators market continues to witness steady growth due to the increasing demand from new application areas such as advanced driver assistance systems (ADAS), electric vehicles, and advanced body control features. The transition to vehicle electrification has increased the need for EV-specific actuators, such as those in battery management system, regenerative braking systems, HVAC system and electric drivetrains. The transition to Software Defined Vehicles also opens opportunities for connected/smart actuators to improve connection and performance. Overall, with ongoing electrification of vehicles, the actuators demand is expected to be largely dependent on new features needing actuators.

By product type, the brake actuators segment will be the largest segment during the forecast period.

With the advancement of brake technologies such as brake-by-wire actuators, anti-lock braking, electronic brakeforce distribution, and brake assist, the demand for efficient brake actuators will likely grow in the coming years. The brake-by-wire actuator, which uses electric motors to transmit signals and energy instead of hydraulic and pneumatic components, has been widely accepted as the next generation of automotive braking systems. This design utilizes a specialized linear motor, providing significant advantages such as rapid braking response, simplified control, and enhanced control accuracy. Asia Pacific is projected to be the leading market for brake actuators in terms of value and volume, as it is the world’s largest producer of vehicles. The increasing demand for brake-by-wire actuators is driven by the rise in drive-by-wire system adoption and the need for more efficient, lightweight, and responsive braking systems. Advancements in braking technology and the presence of leading automotive actuator manufacturers such as Denso Corporation, and Johnson Electric, among others are further expected to drive the market.

Europe will have the second largest share in automotive actuators market during the forecast period

The region is home to the leading automotive actuator manufacturers, such as Robert Bosch GmbH, Continental AG and HELLA GmbH & Co. KGaA, among others. These manufacturers are investing heavily on R&D to incorporate actuators in upcoming autonomous and software-defined vehicles. The increase in demand for automotive actuators can be attributed to the EU mandates for safety features, such as adaptive cruise control, lane-keeping assistance, and automated emergency braking. These features rely heavily on actuators to function effectively, boosting the country’s demand for advanced automotive actuators. Germany is expected to lead the European automotive actuators market during the forecast period, mainly due to the country’s dominance in vehicle production across Europe. More advanced features in locally produced vehicles and the robust R&D capacity of major automotive companies are expected to drive the automotive actuators market.

Key Players

The Automotive Actuators Market is dominated by globally established players, such as Robert Bosch (Germany), HELLA GmbH & Co. KGaA (Germany), Johnson Electric (China), Denso Corporation (Japan), and Continental AG (Germany).

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Automotive Actuators Market Size,  Share & Growth Report
Report Code
AT 3296
PR Published ON
11/9/2023
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