Automotive Actuators Market To Reach $ 41.09 Billion By 2027

Mobility Outlook Bureau
18 Aug 2021
09:00 AM
3 Min Read

Rising digitalisation and automation in the automotive sector, increasing sales of vehicles including EVs, installing ABS and the demand for fuel-efficient vehicles boost revenue growth.


Continental

Driven by increasing demand for fuel-efficient cars, stringent government regulations regarding carbon emission control, and increasing sales of passenger vehicles are driving revenue for the global automotive actuators market size, which is projected to reach $ 41.09 billion in 2027, according to a current analysis by Emergen Research. 

Automotive actuators are an essential part of automobiles' electronic control systems that help convert the electrical signals from control units into action. Several types of actuators are deployed in many applications, including cooling valve, grille shutter, headlamp, hood lift mechanism, HVAC, power seat/window, quick attach, steering column adjustment, sunroof, tailgate telescopic, throttle and turbo systems. For example, the function of the actuator in the engine control system is to control air flaps for torque and optimise power and maintain idle speed.

According to Emergen Research, a market research and consulting company that provides syndicated research reports, customised research reports and consulting services, the growing awareness on carbon emission and higher fuel/oil consumption led to the adoption of actuators in vehicles. These help regulate fuel consumption and lower the rate of emission of pollutants by supplying the required amount of fuel to the engine and control fresh air supply accurately.

The major players operating in the global automotive actuators market include Denso, Nidec, Robert Bosch, Johnson Electric, Mitsubishi Electric, Honeywell, Curtis-Wright, Flowserve, Emerson Electronic and SMC.

Digitalisation and automation 

Rising digitalisation and automation in the automotive sector, increasing sales of commercial cars, SUVs, premium cars, and electronic vehicles, government mandates for installing anti-lock braking systems in many countries and increasing demand for fuel-efficient vehicles are factors boosting global market revenue growth. Furthermore, there has been a sudden increase in passenger cars owing to rapid urbanisation, improvements in the standard of living, and rising per capita income, especially in developing countries. In addition, rapid growth in the building and construction sector has led to rising demand for heavy commercial vehicles for transporting raw materials, the report said.

Moreover, increasing adoption of variable valve timing, consumer inclination towards fuel-efficient cars due to rising fuel prices, and increasing investments in research and development activities to develop advanced and more effective actuators support the market growth. However, the high costs of some automotive actuators and high chances of failure of electric components of the actuators are expected to hamper the overall growth of the automotive actuators market to a certain extent going ahead. 

Passenger car segment drives the demand 

According to the research firm, the passenger cars segment is expected to account for the largest revenue share during the forecast period. Increasing global demand for luxurious passenger cars equipped with advanced features and systems, rising sales of passenger vehicles, and increasing investments in developing more passenger cars with more functions are fueling segment revenue growth. 

Seat adjustment application to register the highest revenue

Emergen Research identified that the seat adjustment actuator segment is expected to register the highest revenue CAGR among the application type during the study period. These seat adjustment actuators are used for adjusting seat angle and positioning and height and tilt change. Increasing sales of passenger cars, commercial cars, and electronic cars are factors supporting seat adjustment actuator segment growth.

The brake actuators segment is expected to account for a significantly larger revenue share over the forecast period due to the increasing number of fuel-efficient and electric vehicles and mandates for anti-lock braking systems in some US and European countries.

North American market to generate maximum revenue 

The automotive actuators market in North America is expected to account for significant revenue share over the forecast period. Key factors such as rising adoption for fuel-efficient vehicles and luxury vehicles, increasing demand for autonomous cars, and increasing investment by market players boost the market growth in this region. 

However, the Asia Pacific region is expected to register for the fastest revenue CAGR during the forecast period fuelled by rapid growth in the automotive sector, rising per capita income, rapid urbanisation, increasing sales of passenger vehicles, luxury cars, and commercial vehicles, increasing adoption of electronic vehicles. In addition, the research and consulting company said that increasing investments in research and development activities and the availability of automotive products at lower prices support the Asia Pacific automotive actuators market. 

Courtesy: Emergen Research. NB: Photo is representational; courtesy: Continental.

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