Introduction
The Global Automotive Electric Actuators Market is set to surge from USD 7.7 Bn in 2023 to a projected USD 10.36 Bn by 2028, growing at a CAGR of 6.12%.
Segment Analysis Global Automotive Electric Actuators Market
The Global Automotive Electric Actuators Market is segmented based on Product, Valve, Application, Vehicle, Sales Channel, and Geography.
The automotive electric actuators market adopts a systematic segmentation approach based on several criteria. Firstly, it divides its products into two primary types: linear electric actuators and rotary electric actuators, each serving diverse functions within the automotive sector. Secondly, the market categorizes applications into three key segments: engine-related functions, body and exterior components, and interior systems. This categorization allows for customized solutions to address the specific requirements of each application. Thirdly, the market classifies vehicles into different segments, including passenger vehicles, commercial vehicles, and other specialized categories. This segmentation ensures that electric actuators are tailored to suit the unique needs of various vehicle types. Lastly, the market distinguishes between sales channels, encompassing Original Equipment Manufacturers (OEM) and the aftermarket. This differentiation streamlines the distribution and availability of electric actuators to meet manufacturing and replacement demands in the automotive industry.
Regional Analysis Global Automotive Electric Actuators Market
Europe and APAC are the leading regions in the market.
The Asia-Pacific region shows substantial potential in leading the automotive electric actuators market in the coming years, driven by a strong automotive sector and increasing vehicle demand, especially in countries like China and India. The adoption of advanced electric actuators in vehicles is further propelled by strict safety regulations and heightened road safety awareness. The Asia-Pacific region’s emergence as a key automotive manufacturing hub highlights its significance as a market for electric actuator components.
In Europe, renowned automakers like Volkswagen, BMW, and Mercedes-Benz create a robust demand for automotive electric actuators. The presence of these major manufacturers, combined with Europe’s commitment to stringent safety regulations and emission standards, fosters the adoption of advanced electric actuator technologies. Europe’s pioneering efforts in developing innovative safety features further enhance the automotive electric actuators market in the region.
The Middle East and Africa (MEA) region is progressively acknowledging the significance of automotive electric actuators in enhancing safety. Countries like the United Arab Emirates are investing in their automotive industries to reduce import reliance and boost local production. The expansion of automotive assembly and manufacturing in MEA nations will significantly impact the automotive electric actuators market.
List of Companies
The report provides profiles of the key companies, outlining their history, business segments, product overview, and company financials. Some Electric Actuators companies competitive analysis are Aptiv, Hyundai Mobis, Denso Corporation, Robert Bosch GmbH, Toray Industries Inc., etc.
Key Developments
RISE Robotics developed an electric actuator named RISE Cylinder that can overcome several challenges associated with hydraulic systems. Integration of this technology minimizes the power drain on batteries and significantly enhances electric vehicles’ performance and energy consumption. – February 2021
Frequently Asked Questions
How Much Is The Global Automotive Electric Actuators Market Size?
The Global Automotive Electric Actuators Market is expected to grow from USD 7.7 Bn in 2023 to USD 10.36 Bn by 2028, with a CAGR of 6.12%.
What Is The Major Global Automotive Electric Actuators Market Driver?
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Increasing Demand for Safety Features
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Increasing Adoption of Electric Vehicles
What are the Major Automotive Electric Actuators Market Opportunities?
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Increasing Presence of Automotive Components Manufacturers
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Growing Demand from Europe
Which Region has Held the Highest Market Share in the Automotive Electric Actuators Market?
APAC has a significant market share, and Europe has Demand and Positively Impacting on the Market
Who Are The Automotive Electric Actuators Market Players?
Aptiv PLC, BorgWarner Inc., Continental AG, CTS Corporation, Denso Corporation, etc.
