Automotive actuators market is anticipated to grow at a CAGR of 11.5% during the forecast period (2023-2030). The market’s growth is attributed to evolution of the automotive industry. With the rising incorporation of advanced innovations such as autonomous driving, ADAS (Advanced Driver Assistance Systems), and in-car entertainment systems, the automobile industry has been going through a transition. Actuators are essential to the development of these technologies. Furthermore, a innovative MEMS autofocus actuator has demonstrated usage in a variety of fields, including mobile robotics, automobiles, action cameras, drones, machine vision, security, and surveillance. For instance, in September 2023, Sheba Microsystems Inc., launched an innovative new product, the MEMS Autofocus Actuator for Active Athermalization in Embedded Vision Cameras, that is utilized in mobile robots, automotive, action, drones, machine vision, security, and surveillance.
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Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the demand from consumers and economic expansion. The global market for automotive actuators is expanding as a result of rising consumer demand for automobiles, particularly in developing nations such as India. Urbanization, rising disposable income, and economic expansion all influence the number of vehicles owned. According to The Times of India, in January 2023, the Indian automobile industry saw its highest ever domestic passenger vehicle sales in 2022. A total of 37.93 lakh units were sold, which was a 23.1% increase from the previous year. Major companies such as Tata Motors, Kia India, and Toyota Kirloskar Motor recorded notable growths in sales. Skoda Auto Volkswagen India had the most significant growth, recording a 123.3% increase. Maruti Suzuki continued to lead the market, selling 15.8 lakh cars in 2022 with a 15.4% year-on-year growth. In December 2022 alone, the Indian auto industry sold 2.28 lakh units, a 3.6% increase from 2021. This growth in sales is indicative of the increasing demand for cars in India, as well as a slightly improved semiconductor chip situation.
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- Market Coverage
- Market number available for – 2023-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Automotive Actuators Market by Application Type
- Throttle Control
- Steering Control
- Brake System
- Transmission Control
- Engine Control
- Others (Fuel Tank Ventilation, Turbocharger Control, and Convertible Roof Mechanisms)
Company Profiles
- CTS Corp.
- DENSO Corp.
- Eaton Corporation plc
- Emerson Electric Co.,
- HELLA GmbH & Co. KGaA
- Hitachi, Ltd.
- Johnson Electric Group
- Marelli Holdings Co., Ltd.
- Mitsubishi Electric Corp.
- Nidec Corp.
- Robert Bosch GmbH
- Rotork plc,
- Schlumberger Ltd.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive actuators market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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