Executive Summary

The global automotive actuators market is expected to grow significantly in the coming years. The growth of the market is attributed to the increasing demand for automotive actuators in various automotive systems, such as powertrain, HVAC, and braking systems. The automotive actuators market is expected to grow at a CAGR of over 5% from 2021 to 2026. The key factors driving the growth of the market are increasing vehicle production, technological advancements, and increasing demand for fuel-efficient vehicles. However, the high cost of advanced actuators and the complexity of the actuator systems are some of the factors that may hinder the growth of the market.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• Increasing demand for automotive actuators in various automotive systems is driving the growth of the market.
• The automotive actuators market is expected to grow at a CAGR of over 5% from 2021 to 2026.
• The Asia-Pacific region is expected to dominate the market due to the presence of key automotive manufacturers in the region.
• The high cost of advanced actuators and the complexity of the actuator systems are some of the factors that may hinder the growth of the market.

Market Drivers

1. Increasing Vehicle Production

The increasing vehicle production is one of the major drivers of the automotive actuators market. The growing demand for vehicles in emerging economies, such as China, India, and Brazil, is driving the growth of the market. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global vehicle production increased by 4.1% in 2019, with a total of 92.1 million vehicles produced.

2. Technological Advancements

The advancements in technology are driving the growth of the automotive actuators market. The increasing demand for advanced automotive systems, such as electric power steering (EPS), active suspension, and electronic stability control (ESC), is driving the growth of the market. The use of advanced actuators in these systems improves the overall performance and efficiency of the vehicle.

3. Increasing Demand for Fuel-efficient Vehicles

The increasing demand for fuel-efficient vehicles is driving the growth of the automotive actuators market. The use of advanced actuators in various automotive systems, such as engine management, HVAC, and powertrain systems, improves the fuel efficiency of the vehicle. The growing concerns regarding greenhouse gas emissions and the need to reduce fuel consumption are driving the demand for fuel-efficient vehicles.

Market Restraints

1. High Cost of Advanced Actuators

The high cost of advanced actuators is one of the major factors that may hinder the growth of the automotive actuators market. The cost of advanced actuators, such as electric actuators, is higher than that of conventional actuators, which may limit their adoption in low-cost vehicles.

2. Complexity of Actuator Systems

The complexity of the actuator systems is another factor that may hinder the growth of the market

Market Opportunities

1. Increasing Demand for Electric and Hybrid Vehicles

The increasing demand for electric and hybrid vehicles is creating significant opportunities for the automotive actuators market. The use of advanced actuators in electric and hybrid vehicles improves their overall performance and efficiency, which is driving the growth of the market.

2. Adoption of Advanced Driver Assistance Systems (ADAS)

The adoption of advanced driver assistance systems (ADAS) is creating significant opportunities for the automotive actuators market. The use of advanced actuators in ADAS improves the safety and reliability of the vehicle, which is driving the demand for automotive actuators.

Market Dynamics

The automotive actuators market is highly dynamic and is influenced by various factors such as technology, regulations, and consumer preferences. The market is characterized by intense competition among the key players, and there is a constant pressure to innovate and develop new products.

Regional Analysis

The Asia-Pacific region is expected to dominate the automotive actuators market due to the presence of key automotive manufacturers in the region. The increasing demand for vehicles in countries such as China and India is driving the growth of the market in the region. The North American and European regions are also significant markets for automotive actuators due to the presence of key automotive manufacturers and the increasing adoption of advanced automotive systems.

Competitive Landscape

Leading companies in the Automotive Actuators Market:

1. Continental AG
2. Robert Bosch GmbH
3. Denso Corporation
4. Hitachi Automotive Systems, Ltd.
5. Magna International Inc.
6. Valeo SA
7. Mitsubishi Electric Corporation
8. Nidec Corporation
9. BorgWarner Inc.
10. Johnson Electric Holdings Limited

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The automotive actuators market can be segmented based on type, application, and region.

Based on type, the market can be segmented into:

• Hydraulic Actuators
• Pneumatic Actuators
• Electric Actuators

Based on application, the market can be segmented into:

• Powertrain
• HVAC
• Braking System
• Steering System
• Others

Category-wise Insights

Based on the type of actuators, the electric actuators segment is expected to grow significantly in the coming years. The increasing demand for electric and hybrid vehicles is driving the growth of this segment.

Based on application, the powertrain segment is expected to dominate the market due to the increasing demand for fuel-efficient vehicles and the adoption of advanced automotive systems.

Key Benefits for Industry Participants and Stakeholders

• Understanding the current and future market trends and dynamics
• Identifying the key market opportunities and challenges
• Developing strategies to gain a competitive edge in the market
• Identifying potential investment opportunities in the market

SWOT Analysis

Strengths:

• Growing demand for advanced automotive systems
• Increasing vehicle production
• Technological advancements

Weaknesses:

• High cost of advanced actuators
• Complexity of actuator systems

Opportunities:

• Increasing demand for electric and hybrid vehicles
• Adoption of advanced driver assistance systems (ADAS)

Threats:

• Intense competition among the key players
• Fluctuations in raw material prices

Market Key Trends

1. Increasing Adoption of Electric Actuators

The adoption of electric actuators is a key trend in the automotive actuators market. The increasing demand for electric and hybrid vehicles is driving the growth of this segment.

2. Integration of Advanced Driver Assistance Systems (ADAS)

The integration of advanced driver assistance systems (ADAS) is a key trend in the automotive actuators market. The adoption of ADAS is driving the demand for advanced actuators in various automotive systems.

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the global automotive industry, including the automotive actuators market. The pandemic has resulted in a decline in vehicle production and sales, which

has affected the demand for automotive actuators. However, the increasing demand for electric and hybrid vehicles, and the adoption of advanced automotive systems, such as ADAS, is expected to drive the growth of the market in the post-Covid-19 period.

Key Industry Developments

1. In May 2021, DENSO Corporation announced the development of a new electric compressor for electric vehicles (EVs) and hybrid electric vehicles (HEVs). The electric compressor uses an electric actuator and provides better fuel efficiency and improved performance.
2. In October 2020, Robert Bosch GmbH announced the launch of its new electric power steering (EPS) system. The system uses an electric actuator and provides better steering precision and fuel efficiency.

Analyst Suggestions

The analysts suggest that the key players should focus on developing advanced and cost-effective actuators to gain a competitive edge in the market. The players should also focus on expanding their global presence and forming strategic partnerships and collaborations to strengthen their market position.

Future Outlook

The automotive actuators market is expected to grow significantly in the coming years due to the increasing demand for advanced automotive systems, such as electric power steering, active suspension, and ADAS. The market is expected to be driven by the increasing demand for electric and hybrid vehicles, the adoption of advanced automotive systems, and the growing concerns regarding fuel efficiency and emissions. The key players in the market are expected to focus on product innovation and development, partnerships, and collaborations to gain a competitive edge in the market.

Conclusion

The global automotive actuators market is expected to grow significantly in the coming years due to the increasing demand for advanced automotive systems and the growing concerns regarding fuel efficiency and emissions. The market is highly competitive, and the key players are focusing on product innovation and development to gain a competitive edge. The market is expected to be dominated by the Asia-Pacific region due to the presence of key automotive manufacturers in the region. The increasing adoption of electric and hybrid vehicles, and the integration of ADAS, is expected to drive the growth of the market in the coming years.

The market drivers such as increasing vehicle production, technological advancements, and increasing demand for fuel-efficient vehicles are expected to continue to drive the growth of the market. However, the high cost of advanced actuators and the complexity of actuator systems are some of the factors that may hinder the growth of the market.