Nov 13, 2020, 05:36 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 13, 2020, 05:36 /Comserve / -- Global Automotive Actuators Market is valued approximately USD 23.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.40% over the forecast period 2019-2026.
Global Automotive Actuators Market is valued approximately USD 23.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.40% over the forecast period 2019-2026. The automotive actuators are used in vehicle seats and braking systems for adjusting lumbar support systems, seat angles & seat positioning along within the vehicle braking system to provide safety to the individual. The automotive actuators market is primarily driven owing to surging production of passenger cars and commercial vehicles, escalating sales of sports utility vehicles and premium vehicles in both developed and developing countries, rising demand for advanced automation systems along with initiatives taken by the original equipment manufacturers indulged in offering actuators.
The rise in production of passenger cars and commercial vehicles is acting as key factor towards the demand and utility of automotive actuators. For instance: According to Statista, the adoption of electronic stability control in the vehicle has enhanced by 2.3% which is ultimately rising along with the escalating production of passenger cars. The production of passenger cars witnessed a surge of around 1.87% in the year 2017 from the year 2016. The production of passenger cars accounted for around 73456531 units in the year 2017 as compared to 72105435 units in 2016.
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According to the International Organization of Motor Vehicle Manufacturers, China was the leading country in terms of production of passenger cars in the year 2017 on the global scenario. China accounted to produce around 24806687 units of passenger cars in the year 2017. Furthermore, the sales of commercial sales were also on the surging trend. According to the International Organization of Motor vehicle manufacturers, the production of commercial vehicles saw a surge of around 4.26% in the year 2017 from the year 2016. Around 23846003 units of commercial vehicles were produced in the year 2017 as compared to 72105435 units in the year 2016 on the global scenario.
Also, China accounted for the largest production of commercial vehicles which accounted for 4208747 units in the year 2017 resulting into positively influencing the development and growth of automotive actuators market. However, However, the evolution of COVID-19 has negatively impacted the production and sales of both commercial and passenger vehicles and volatility in prices of raw materials impedes the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Automotive Actuators market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the surging adoption of sports utility vehicles and escalating demand for advanced automation systems. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as surging production of both passenger cars and commercial vehicles along with presence of several original equipment manufacturers offering automotive actuators would create lucrative growth prospects for the Automotive Actuators market across Asia-Pacific region.
Major market player included in this report are:
Robert Bosch GmbH
Mitsubishi Electric Corporation
Johnson Electric Holdings Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Product Type:
Seat Adjustment Actuator
By Vehicle Type:
Rest of the World
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