Automotive Actuators Global Market – Overview
The Global Automotive Actuators Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Actuators will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
The Automotive Actuators Market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the automotive actuators market. The total four wheeler production for the year 2015 was almost 90 million units and is expected to witness further boost and reach more than 100 million units by the year 2020. This results as a primary factor driving the automotive actuators market as the interiors of automobiles have gained prevalence in recent times with technological development and rapidly increasing disposable income among the consumers. Thus, the growth of the automotive actuators is expected to go hand in hand with the automotive industry.
The automotive industry, as a whole, is a capital intensive industry. The dynamic business environment and cut throat competition in the industry constantly requires influx of capital to update their technology to cope with increasing incidence of customization by the consumers. Development of hybrid vehicles, aesthetic features and safety features require constant research & development support thus resulting in extensive capital investment at a constant rate. Such cut throat competition in the automotive industry requires massive investments at a regular basis, thus the high capital investment in the automotive actuators market is expected to act as a hurdle in the growth, due to significant entry barriers for new player which is expected to have a negative impact on the automotive actuators market.
In automotive industry, consumer preferences are continuously changing. Across the world, the demand for various factors such as high performance, high efficiency, increased safety, and security are increasing for different automotive applications. At the same time, when it comes to the actual purchase of a vehicle, consumers prefer a model having all of the above mentioned parameters but preferably at a lower cost (price). Due to changing consumer needs across global markets, rapid technological advancements are taking place in automotive actuators industry to introduce differentiate products. While considering the above improvements, product pricing (low cost) is given a prominent weightage during initial development phase. This is a big challenge for the manufacturers as a lot of research and development (R&D) activities go into the new product development phase, which requires huge investments.
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With the global economy undergoing an unprecedented level of shift, major emerging countries such as China, India, Thailand, Indonesia, and others are becoming manufacturing hubs for global automotive players. As a result of increasing prosperity in the emerging economies, people are increasingly able to afford their own car, particularly in emerging Asian economies such as China and India. In order to tap these rising consumer automobile preferences, leading global automotive players such as Volkswagen, BMW, Toyota, and Ford are entering into new emerging markets for business expansion. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for Automotive Actuators and others will also rise.
Continental AG, Delphi Automotive, Denso Corporation, Hella KGaA Hueck & Co., Robert Bosch GmbH, Stoneridge Inc., Wabco Holdings Inc., Mitsubishi Electric Company, Nidec Corporation, Sonceboz SA are some of the leading players operating in this market.
Industry/ Innovation/ Related News:
May, 2014– Continental Opened Worldwide Competence Center for Sensors and Actuators in Ostrava. International automotive supplier Continental strengthened its presence in the Czech Republic. The Sensors & Actuators (S&A) Business Unit, which is part of the Continental Powertrain Division, has opened a competence center in Ostrava, which is responsible for worldwide research and development in the field of sensors and actuators.
April, 2017 – HELLA KGaA Hueck & Co., one of the globally leading automotive suppliers for lighting and electronics, has planned to open a new plant for electronics components in Lithuania. The decision in favour of the Lithuanian region Kaunas is currently in its final stages. The opening of the new electronics plant is anticipated for mid-2018. The investment volume for the first phase accounts for approximately up to 30 million Euros.
August, 2017 – Mitsubishi Electric Automation, Inc. and Bimba Manufacturing Co. have announced a collaboration that will combine Mitsubishi Electric’s innovative industrial automation technology with Bimba’s industry-leading motion control solutions. This arrangement brings together Mitsubishi Electric’s servo motors and control products with Bimba’s electric mechanical actuators. The relationship will allow both companies to benefit from each other’s strong presence in the industrial marketplace, providing greater value to customers by offering a turnkey electric motion solution from a single source.
Automotive Actuators Market – Segmentation
The Global Automotive Actuators Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Product Type: Comprises hrottle, Power Seat, EGR, Brake, VGT, Wastegate, Grille Shutter, Intake Flap, Electrical Exhaust/Sound Flap, & Thermo Module / Thermal Actuators.
- Segmentation by Vehicle Type: Comprises Passenger Vehicle and Commercial Vehicle
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Automotive Actuators Market: Regional Analysis
The global automotive actuators, by region, has been segmented into the four major regions of North America, Europe, Asia Pacific and Rest of the World. Over the last couple of years, the automotive industry has flourished globally, with several technologies emerging in the market. Geographically, Asia Pacific region has been the largest market for automotive exhaust in 2016, followed by North America and Europe. Asia Pacific region has registered the fastest growing region due to the presence of emerging economies such as China, India, South Korea, and Japan. Moreover, several automotive giants have been focusing on this region mainly due to the abundant demand for passenger as well as commercial vehicles, and have therefore planned to expand their operations in the Asia Pacific region. By the end of forecast year, the global market is expected to witness cut throat competition between North America and Europe, in terms of revenue and market share.
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