The automotive actuators are used in vehicle seats and braking systems for adjusting lumbar support systems, seat angles & seat positioning along within the vehicle braking system to provide safety to the individual. The automotive actuators market is primarily driven owing to surging production of passenger cars and commercial vehicles, escalating sales of sports utility vehicles and premium vehicles in both developed and developing countries, rising demand for advanced automation systems along with initiatives taken by the original equipment manufacturers indulged in offering actuators.. , The rise in production of passenger cars and commercial vehicles is acting as key factor towards the demand and utility of automotive actuators.
According to the report analysis,’ Global Automotive Actuators Market is valued approximately USD 23.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.40% over the forecast period 2019-2026’ there are several prominent companies which presently operating more effectively for leading the highest market growth and accounting the great value of market share around the world while delivering the better consumer satisfaction, accepting the effective strategies and policies of profit making, analysing and examining the strategies of the competitors and government, decreasing the prices of linked prices, employing the young and intellectual employees and developing the specifications of the technologies includes Continental AG, BorgWarner Inc, Aptiv Plc, Robert Bosch GmbH, Mitsubishi Electric Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Hitachi Ltd, CTS Corporation and Denso Corporation. For instance: According to Statista, the adoption of electronic stability control in the vehicle has enhanced by 2.3% which is ultimately rising along with the escalating production of passenger cars. The production of passenger cars witnessed a surge of around 1.87% in the year 2017 from the year 2016. The production of passenger cars accounted for around 73456531 units in the year 2017 as compared to 72105435 units in 2016.
The regional analysis of global Automotive Actuators market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the surging adoption of sports utility vehicles and escalating demand for advanced automation systems. While, Asia-Pacific is additionally predicted to exhibit highest rate of growth over the forecast period amount. Factors like surging production of both passenger cars and commercial vehicles together with presence of several original equipment manufacturers offering automotive actuators will create moneymaking growth prospects for the Automotive Actuators market across Asia-Pacific region. The detailed segments and sub-segment of the market are explained as follows: By Product Type into Throttle
Actuator, Seat Adjustment Actuator, Brake Actuator, Closure Actuator and Others. By Vehicle Type into Passenger Cars and Commercial Vehicles.
Moreover, rising wide number of applications in the industries where high machineries are involved the demand of actuators increases across the world. Also, increase in the demand for fuel efficient vehicles especially owing to rise in pressure of the world governments and rise in price of oil and energy. The expansion of the automotive actuators market is skyrocketing ever. Furthermore, the automotive actuators provide positive results in reducing road fatalities and can be used in fuel pumps, head light lifts, and electronic parking brake, which fuels the exponential growth of the market during the forecast amount.
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Ankur Gupta, Head Marketing & Communications