Automotive Actuators Market: Current Analysis and Forecast (2023-2030)

Report Description

The automotive actuators market is expected to grow at a strong CAGR of around 7.5% during the forecast period owing to the growing concern about the safety of the passengers. The growing adoption of automotive actuators can be attributed to their increasing importance in various vehicle systems and functions. Automakers are realizing the benefits of actuators in achieving precise control, enhanced performance, and improved efficiency. One recent development that highlights this trend is the introduction of brake-by-wire systems in electric vehicles. Brake-by-wire systems replace the traditional mechanical linkages between the brake pedal and the brake calipers with electronic actuators. This technology allows for more precise control and modulation of braking force, resulting in improved safety and performance. In 2021, BMW launched the i4 electric sedan, which features a brake-by-wire system utilizing advanced automotive actuators. This development showcases the growing adoption of automotive actuators in next-generation vehicle systems, where precise and efficient control is crucial for optimal performance and safety.

Some of the major players operating in the market include BorgWarner Inc; Continental AG; CTS Corporation; DENSO Corporation; HELLA GmbH & Co. KGaA; Hitachi Ltd; Johnson Electric Holdings Limited; Mitsubishi Electric Corporation; Robert Bosch GmbH; Stoneridge Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Based on the application type, the market has been segmented into throttle actuator, seat adjustment actuator, brake actuator, closure actuator, and others. Among them, the Energy segment held a considerable share of the market in 2022.”

Based on the application type, the market has been segmented into throttle actuator, seat adjustment actuator, brake actuator, closure actuator, and others. Among them, the brake actuator held a considerable share of the market in 2022. Factors driving the growth of brake actuators include advancements in safety technologies, increasing demand for electric vehicles (EVs), and the focus on autonomous driving. With the rising emphasis on vehicle safety, automotive manufacturers are integrating advanced braking systems that require reliable and efficient brake actuators. For instance, the implementation of electronic stability control (ESC) systems in vehicles has led to the adoption of brake actuators for improved stability and enhanced braking performance. Additionally, the growing demand for EVs has created a need for brake actuators specifically designed for regenerative braking systems, which convert kinetic energy into electrical energy. Furthermore, the development of autonomous driving technology necessitates advanced brake actuators for precise control and emergency braking capabilities to ensure passenger safety.

“Based on the type, the market has been categorized into hydraulic, electric, and pneumatic. Among them, the hydraulic segment held a considerable share of the market in 2022.”

Based on the type, market has been categorized into hydraulic, electric, and pneumatic. Among them, the hydraulic segment held a considerable share of the market in 2022. Hydraulic actuators are known for their high force output, making them suitable for heavy-duty application types in various industries, including automotive. In commercial vehicles, hydraulic actuators are widely used in systems such as hydraulic brakes, power steering, and suspension systems. The durability and robustness of hydraulic actuators make them ideal for withstanding demanding conditions, making them a preferred choice for commercial vehicle manufacturers.

Automotive Actuators Market Report Coverage

“Europe will hold the 2^nd highest share of the automotive actuators market in 2022.”

Europe has been at the forefront of electric vehicle (EV) adoption, with several countries offering incentives and subsidies to promote cleaner mobility. The increasing demand for EVs has resulted in the integration of electric actuators for various functions such as throttle control, brake control, and power steering in these vehicles. Lastly, the European automotive market is highly competitive, with a strong focus on innovation and cutting-edge technology. Automakers in Europe are keen on incorporating advanced features and driver assistance systems, which heavily rely on automotive actuators for precise control and operation. This emphasis on innovation and technological advancements in Europe drives the adoption of automotive actuators, ensuring vehicles meet the evolving needs of European consumers.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global automotive actuators market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Automotive Actuators Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive actuators market were the three major steps undertaken to create and analyze the adoption of solid-state batteries in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive actuators market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the automotive actuators market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the automotive actuators market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report by application type, type, and vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive actuators market. Further, we conducted factor analysis using dependent and independent variables such as application type, type, and vehicle type of the automotive actuators market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive actuators market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive actuators market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive actuators market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global automotive actuators market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive actuators market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the application type, type, and vehicle type in the global automotive actuators market.

The main objective of the Global Automotive Actuators Market Study

The current & future market trends of the global automotive actuators market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the automotive actuators market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the application type, type, and vehicle type.
• Define and analysis of the regulatory framework for the automotive actuators industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the automotive actuators market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the automotive actuators market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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