Automotive Actuator Market to Witness Steady Expansion During 2018 to 2027
This report provides prognosis and analysis of the automotive actuator market. It offers historical data along with forecast data for 2027.
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The automotive actuators market study is a sinuous market intelligence on key revenue growth drivers, challenges, industry trends and opportunities, which will eventually influence growth trajectory of the automotive actuators market. The report initially imparts an overview of the automotive actuators market, considering current and future prospects in the vehicle production and vehicle parc, to unveil attractive facets appertaining to adoption of automotive actuators across key regional markets. An in-depth assessment on few of the automotive actuators manufacturers offered in the report enables the readers to gain detailed insights that are derived from the automotive actuators manufacturers across the regional markets incorporated in the report.
Automotive actuators continues to witness lucrative opportunities across countries on the backdrop of increasing vehicle parc worldwide. Moreover, growing dependency of control systems on actuators is affecting the environment, which is driving their adoption. For actuators, the key purpose for their application is using the power provided to them and converting it to mechanical energy for controlling the motion of fluids and gases. Diversity in the operations of control systems allow actuators to source their power from electric current, hydraulic pressure or pneumatic force. Energy sourced from these options gets converted into motion when the actuator receives a signal. Control systems used in several industrial operations are largely dependent on the efficiency of the actuation technologies.
Also, with improvements in materials and technology used for automotive manufacturing, the average operational age of vehicles has increased substantially. The reliability on vehicles has increased significantly over the past decade. As a result of increasing vehicle age, there is a growing need for replacement of parts, repair and maintenance, which, in turn, is driving the aftermarket for actuators.
A recent FactMR study foretells the automotive actuators market to record an expansion at 6.8% CAGR over the forecast period (2018-2028). Automotive actuators continues to witness increased traction in air conditioning system application. However, innovations in HVAC system for better efficiency will gain impressive growth in some of the regions.
Developments in automotive actuators market is fueled by the growing safety preference of consumers. Adoption of new technologies to make actuator functioning accurate and efficient happens to be a trend in the market.
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Every OEM is embracing the opportunity of development of electric technology for their vehicles. Problems associated with mechanical-based actuation of any system within a vehicle, such as weight, process lag and higher consumption of power, has pushed automakers to shift towards electric assisted technologies. Simple features, such as power windows, automatic lighting and automatic closure, which were deemed too luxurious to be fitted in a vehicle in the past and have become default installation in the present scenario. Though mechanical actuation utilizes physical linkages to initiate motion, electric assisted technologies call for the implementation of various sensors, benefitting its growth in the market over the long run.
Automated window regulators are an example of electric assisted technologies. Automated window regulators are a very important part of a vehicle’s interior from a customer’s viewpoint. The convenience over manually cranked window has made automated window regulators almost a part of every new passenger car. The ultra-competitive automotive industry has prompted vehicle manufacturers to automate most of its basic features in an effort to gain market share and hence, improve its revenue. The trend of offering manual and automated features as an option is becoming increasingly popular in the current automotive scene and has been providing more flexibility to the customers.
The world is moving towards connected systems and OEMs are catching up as well. The number of advanced technologies integrated within a car has risen to a great extent in the past couple of years. Internet of Things (IoT) is one such technological offering that has found its ways into the automotive industry, opening up possibilities of connecting the vehicle with other vehicle or its own manufacturer via internet. With the aid of sensors housed within a car, data generation and its transfer has enabled in developing new avenues for safety, convenience and security.
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