Actuator Market: Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights

Actuator Market

According to a new market report published by Transparency Market Research “Actuator Market for Vehicles (Application, Actuator Type, and Others): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025”, the global actuator market for vehicles is likely to expand at a CAGR of more than 7%, in terms of volume.

Actuator Market for Vehicles across the globe is witnessing expansion at a steady pace due to the increasing production of vehicles along with advancing technology. Rise in demand for vehicles with automatic systems, electric vehicles, and adoption of advanced technology systems in vehicles is expected to drive the actuator market for vehicles during the forecast period.

Several original equipment manufacturers prefer encompassing some automatic features, in order to differentiate their products, which are likely to drive the actuator market for vehicles. Incorporation of actuators in internal combustions engines is expected to decline during the forecast period due to the arrival of the electric vehicles, which do not contain internal combustion engines and run entirely on electric motors.

Rising demand for automatic systems in vehicles is likely to boost the demand for automotive actuators. Increasing application of electronic components in vehicles is projected to boost the demand for actuators due to the extensive usage of actuators in electronic systems. Incorporation of automatic systems in vehicles in order to attract customers by differentiating their products than competitive manufacturers has led to the rise in demand for actuators for automotive.

Impending stringent emission norms along with safety norms for vehicles are anticipated to boost the demand for actuators significantly, due the implementation of actuators in safety systems such as antilock braking systems and airbags. Stringent emission norms are prompting manufacturers to employ systems such as turbochargers, VVTs, and active grill shutters, which consist of actuators as an integral part of these systems. This, in turn, is anticipated to boost the demand for automotive actuators. Rising cost of the vehicle due to incorporation of the automatic features with actuators is a key factor that is expected to hamper the actuator market for automotive.

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Initially, the major actuators utilized in vehicles were mechanical; however, the improvement in technology has led to the shifting in preference toward electric actuators due to their small size, light weight, and low maintenance. Increasing production of vehicles is another major factor driving the actuator market for automotive. Increasing population, urbanization, and purchasing power of the population are the major factors boosting the production of vehicles. Increasing per capita income has empowered society to buy leisure for them, which has led to the increasing demand for vehicles.

Based on application, the HVAC system segment held a major share of the actuator market for automotive, owing to incorporation of multiple actuators in the system. HVAC system is preferred in vehicles due to harsh weather conditions and the focus of manufacturers toward comfort factor. However, the adaptive headlamp segment is expanding at a rapid pace among all the application segments due to the high adoption rate of these headlamps due their enhanced safety feature.