Global Automotive Actuators Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com
As a part of that effort, actuators have garnered significant attention, in order to make seats more comfortable and smart.
The "Automotive Actuators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Automotive Actuators market size is estimated at USD 22.8 billion in 2020 and projected to grow at a CAGR of 8.9 % during the forecast period, to reach USD 38.3 billion by 2026.
Companies Mentioned
- Continental AG
- BorgWarner Inc.
- Aptiv PLC
- Robert Bosch GmbH
- Mitsubishi Electric Corporation
- Nidec Corporation
- Johnson Electric Holdings Limited
- Hitachi Ltd.
- CTS Corporation
- Denso Corp.
- Hella KGaA Hueck & Co.
Key Market Trends
Seat Adjustment to Witness Faster Growth
The sales of passenger and commercial vehicles continues to grow, and the OEMs have made interiors one of the main focus areas, in order to improve the safety and comfort of passengers. As a part of that effort, actuators have garnered significant attention, in order to make seats more comfortable and smart.
Actuators are used in seats, for adjusting lumbar support systems, seat positioning, angles, and for seat track actuators. Several types of automotive seat adjustment actuators are available in the market, such as geared motors for recliner adjustment, double output shaft for track drives, and linear actuators for height and tilt adjustments, among others.
Owing to the rise in the sales of SUVs and premium vehicles at the global level, the seat adjustment actuator segment of the market is expected to expand. The OEMs have been deploying electronic systems to control almost every part of an automobile, to enhance the experience of passengers.
Asia-Pacific Continues to Capture the Major Market Share
The market in the Asia-Pacific region is expected to grow at a faster pace, with India, Japan, and China stepping toward becoming automotive component manufacturing hubs and supplying to countries, such as the United States and Germany. The increasing sales of both passenger cars and commercial vehicles is driving the market.
Some of the key players in China are Limon Precision & Speed, Nutork Actuators & Valves, Brose, HELLA China, Mitsubishi, Changzhou, and Shengjie Electronic Co. The latest innovation in the Chinese market is mini-electric actuators, which help the headlights to track and illuminate the road, on the move. This feature is available in many high-end models.
The factors that are making China one of the largest growing markets for actuators are the low costs, due to the domestic concentration of manufacturing plants, and people buying more vehicles.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Application Type
5.2 By Vehicle Type
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/y07eru
View source version on businesswire.com: https://www.businesswire.com/news/home/20220113005541/en/