Business

Automotive Electric Actuator Market: Covid-19 Impact Analysis on Market Size, CAGR, Demand, In-Depth Assessment and Opportunity Analysis 2027

Flexibility and Sustainability of Automotive Electric Actuators Attract Stakeholders

Automotive electric actuators are offering convenience solutions to end-use customers. The growing awareness about safety for vehicle drivers has led to automation and performance-enhancing features in vehicles worldwide. Automotive electric actuators are increasingly being used to safely open tailgates, lower ramps, and to adjust the mirrors in vehicles. This is evident since the automotive electric actuator market is expected to reach ~US$ 11.7 Bn by the end of 2027. Hence, companies are focusing on developing maintenance-free and reliable actuators that meet OEM and end user requirements.

High prevalence of elderly individuals has created a demand for technologically sound vehicles that provide comfort to individuals. Hence, companies in the automotive electric actuator market are increasing their efficacy in intelligent and sustainable actuators that are gaining the attention of stakeholders in the value chain. They are increasing R&D to develop actuators that are flexible enough to fit in any vehicle.

Request a sample to get extensive insights into the Automotive Electric Actuator Market

Small Actuators to Drive Automatic Headlight Leveling Systems in High-end Vehicles

Mini electric linear actuators are acquiring popularity for energy conversion in different types of linear motion. Automotive electric actuators are gaining prominence in high-end vehicle models, since they support automatic movement of headlights toward the track, whilst illuminating the road. Hence, companies in the automotive electric actuator market are researching about permanent magnet motors that support movement in headlights to focus the beam of light in curvy and rough terrains. They are increasing their production capabilities to develop mini actuators that support headlight motors and leveling systems in vehicles.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Since mini actuators are much more compact in size than standard automotive electric actuators, their usability is increasing in automotive headlight mount. This is evident since the automotive electric actuator market is estimated to reach an output of ~929,000 units by 2027. Hence, OEMs and stakeholders in the aftermarket are increasing the availability of small actuators that help to drive automatic headlight leveling systems.

Investments in Vehicular Technologies Help to Acquire Intravehicle Connectivity Data

IoT and industry 4.0 are becoming increasingly mainstream in the automotive industry. The growing adoption of EVs is another key driver fueling the proliferation of IoT. However, data integration issues for connected and collaborative vehicle applications pose as a challenge for companies in the automotive electric actuator market.

The automotive electric actuator market is highly competitive with nine leading players accounting for ~60% of the market stake. These players are encouraging the penetration of IoT in EVs. Thus, IoT integration is becoming increasingly prominent in intravehicle connectivity and internal networks to help share data among ECUs, actuators, and sensors. As such, the interior application segment is expected to lead the automotive electric actuator market landscape. However, lack of charging station networks and EV data sources in developing countries pose as barriers for market growth. Hence, stakeholders are increasing investments in vehicular technologies and infrastructure. They are increasing efforts to develop accurate trip planning applications to reduce a driver’s range anxiety.

Companies Aim toward Versatile Applications of Electric Actuators for Specific Consumer Requirements

The introduction of innovative motor designs is one of the key drivers that are contributing toward the growth of the automotive electric actuator market. On the other hand, manufacturers are bolstering their credibility credentials in the market by increasing efforts to develop automotive electric actuators that have minimal carbon footprint. Since body & exterior application segment of the automotive electric actuator market is anticipated for exponential growth, companies are developing actuators that allow owners to remotely control and open tailgates.

In order to cater to the requirements of high-end disabled vehicles, manufacturers are developing actuators that help to lower the wheelchair ramp in vehicles. Thus, to gain global recognition, manufacturers are increasing their testing capabilities in actuators since vehicles are exposed to harsh weather conditions. They are gaining expertise in durability tests to examine the applicability of actuators in freezing cold and other extreme temperatures. Maintenance-free actuators are being highly publicized, since they eliminate the need for hoses, pumps or compressors.

Stuck in a neck-to-neck competition with other brands? Request a custom report on Automotive Electric Actuator Market

Automotive Electric Actuator Market: Overview

  • The global automotive electric actuator market is expected to expand at a CAGR of ~6%, owing to a rise in the demand for safety and comfort in vehicles, which is estimated to fuel the demand for advanced systems in vehicles during the forecast period
  • Asia Pacific is likely to hold a significant share of the global automotive electric actuator market during the forecast period owing to more number of vehicles produced in the region, as compared to that in other regions. Moreover, penetration of electric vehicles in Asia Pacific is increasing rapidly, which drives the market for automotive electric actuators in the region.

Drivers of Automotive Electric Actuator Market

  • Vehicle safety regulations and vehicle standards mandated by government and regulatory authorities are prompting automakers to install safety systems in their vehicles, thereby driving the global automotive electric actuators market
  • Increasing demand for in-vehicle comfort systems, attributed to a rise in the demand for a luxurious and comfortable ride, is anticipated to propel the automotive electric actuator market. Rising demand for comfort systems is prompting automakers to provide vehicle systems such as power windows, sunroof systems, and HVAC systems. These systems are controlled by electric actuators. This, in turn, is likely to boost the demand for automotive electric actuators during the forecast period.

 Challenges for Automotive Electric Actuator Market

  • Risk of failure of electric components in an electric actuator is expected to hinder the global automotive electric actuator market. Electric actuators tend to overheat, owing to continuous operation and extreme changes in operating cycle; however, this is rare, and in turn, may damage the electric components in the actuators. Electric actuators are susceptible to operating environment. Therefore, unlike pneumatic actuators, they cannot work in hazardous environment.

Automotive Electric Actuator: Key Segments

  • Based on application, the interior segment held a leading share of the automotive electric actuator market, as it comprises products, including power window, power seat, HVAC, steering column, and several others. Increasing penetration of power seat in passenger vehicles and HVAC systems in light commercial vehicles is likely to propel the demand for interior applications of electric actuators.
  • Based on valve type, 2 port valve actuators was a highly attractive segment of the market for 2018, owing to advantages offered by these actuators, such as affordable price, ease of installation and maintenance, lower maintenance cost, and compact and lightweight
  • Based on vehicle type, the passenger vehicle segment held a significant share of the market in 2018. High demand for SUVs, crossovers, and hatchbacks is driving the passenger vehicle segment, thereby boosting the automotive electric actuator market. Increased buying power and preference for private transport is further boosting the passenger vehicle segment.
  • Based on sales channel, the OEM segment is likely to lead the market, as most OEMs, such as Volkswagen, GMC, Tesla, and Ford, provide components for more efficient carbon emission, such as automotive electric actuator, in their vehicles. Moreover, major associations have enacted various norms to improve carbon emission systems in vehicles. These mandatory norms for all OEMs led the OEM segment to hold a major share of the market in 2018.

Automotive Electric Actuator Market: Regional Analysis

  • In terms of region, Asia Pacific is estimated to account for a notable share of the global market, in terms of revenue, due to higher production of vehicles in China and Japan. Furthermore, the adoption and production of electric vehicles in China is higher, as compared to that in other countries, owing to government incentives and norms. This, in turn, is likely to further boost the automotive electric actuator market.
  • The automotive electric actuator market in Middle East & Africa is expanding at a notable pace, owing to a rise in the demand for vehicles with premium luxury and comfort features. Countries in GCC have stable economies owing to the presence of a prominent petrochemical industry. Lower fuel prices and rise in disposable income in GCC are anticipated to boost vehicle sales in the sub-region.

Read TMR Research Methodology @:

https://www.transparencymarketresearch.com/methodology.html

Automotive Electric Actuator Market: Competition Landscape

  • Most manufacturers operating in the automotive electric actuator market are focused on the development of lightweight and high-efficiency actuators. Manufacturers have also been emphasizing on product differentiation to target a specific audience.
  • All major manufacturers are seeking collaborations with OEMs and Tier 1 manufacturers in order to develop new-age actuators with higher precision. Moreover, manufacturers are highly focused on emerging markets for the automotive electric actuator in order to consolidate their position in that particular region/ country.
  • Demand for electric actuator is rising significantly, owing to rising trend toward vehicle electrification, autonomous driving, and digitalization. Manufacturers are investing to expand their production capacities to cater to the demand from OEMs, primarily in Asia Pacific and Europe.
  • Key players operating in the global automotive electric actuator market include
    • Aptiv
    • Borg Warner Inc.
    • Continental AG
    • CTS Corporation
    • DENSO Corporation
    • Hella GmbH & Co.
    • KGaA
    • Hitachi Ltd.
    • Johnson Electric
    • MAHLE GmbH
    • Mitusbishi Corporation
    • Nidec Motors & Actuators
    • Robert Bosch GmbH
    • Robertshaw Controls Pvt. Ltd.
    • Valeo
    • WABCO

Read Our Latest Press Release:

https://www.prnewswire.co.uk/news-releases/binge-watching-during-covid-19-underscores-growth-in-video-on-demand-vod-services-tmr-843517403.html

https://www.prnewswire.co.uk/news-releases/covid-19-outbreak-to-influence-growth-prospects-of-personal-protective-equipment-ppe-market-tmr-888885156.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

Related Articles

Back to top button