According to Intent Market Research, the Automotive Actuators Market is projected to grow from USD 19.8 billion in 2023 to USD 25.7 billion by 2030, at a CAGR of 3.8%.

The rising demand for premium cars is fueling the growth of automotive actuators. These actuators play a crucial role in ADAS, vehicle telematics, automated sunroofs, and power windows, further driving their adoption. Governments worldwide are actively promoting road safety, leading to the mandatory implementation of ADAS in new vehicles, which in turn boosts the demand for automotive actuators. Additionally, with rising fuel prices, consumers are increasingly shifting towards electric vehicles over gasoline-powered ones. In 2022, electric vehicles accounted for 14% of total new car sales, up from 9% in 2021. This rapid expansion of the EV market is expected to further drive the demand for automotive actuators during the forecast period.

AI Authority Trend: SoundHound AI and Lucid Motors Bring GenAI Voice Assistant to Electric Vehicles

Globally, passenger car production is over 2.5 times higher than commercial vehicles in 2022. The passenger cars segment has the highest demand for automotive actuators compared to the commercial vehicles segment. The high demand for passenger cars including electric vehicles is driving the automotive actuators demand from passenger cars segment. Additionally, with the integration of ADAS in heavy commercial vehicles, the commercial vehicle segment expected to grow over the forecast period.

Types of actuators available are electric, pneumatic, hydraulic, magnetic, and electromechanical, etc. Out of these, electric actuators offers the highest precision control positioning, and accuracy. Whereas, hydraulic actuators are tough to withstand harsh condition that may arise in heavy commercial vehicles. Pneumatic actuators are low cost option and often used in high temperature areas.

North America is expected to record significant share of the market during the forecast period. In 2022, about 1 million electric cars sold in the US and is expected to reach up to 1.6 million in 2023. As both these regions are highly developed, there is high demand for premium electric cars. This, in turn, is expected to drive the demand for automotive actuators in the coming years.  

AI Authority Trend: Itron and Schneider Electric Collaborate to Tackle Grid Complexity

Major players operating in the global automotive actuators market are BorgWarner, Bosch, Continental, Denso, EFI Automotive, Hitachi, Johnson Electric, MAHLE, Mitsubishi Electric, NIDEC, among others. Global automotive actuators market is fragmented with the presence of large number of large, medium and small enterprises.

The major players of the market have adopted several market growth strategies such as investment in R&D, new product launch, collaboration, etc. In April 2023, Oechsler AG, a leading plastics technology group, and sauer product GmbH have announced their agreement to jointly develop and market their products in the field of actuators and electronics. With this new partnership, the two Germany-based companies aims to gain from the growing global automotive market in the future.

TRENDING REPORTS

AI Authority Trend: Seeing Machines Partners With Mitsubishi Electric to Boost Guardian Gen 3 Sales in the Americas

About  Intent Market Research™

Intent Market Research (IMR) is a market research firm dedicated to providing unique, data-driven insights that support sustainable and inclusive business growth. We specialize in comprehensive market research reports and consulting services across diverse industries including chemicals, healthcare, automotive, energy, packaging, and semiconductor & electronics.

Our approach centers on delivering transformative market intelligence through syndicated reports, custom research, and strategic consulting services. We work closely with clients to develop tailored solutions that address unique business challenges, offering quantifiable market insights and forward-looking strategies. Our team of expert analysts and consultants combines cutting-edge competencies with a robust research methodology to help businesses explore new markets, develop innovative products, and uncover growth opportunities.

At IMR, we are committed to ethical standards and compliance, conducting research with transparency and integrity. We prioritize data privacy, maintain strict confidentiality, and adhere to industry regulations. Our goal is to empower businesses with comprehensive, fact-based insights that drive sustainable advantages and meaningful organizational change.

To find out more, visit Intent Market Research™ or follow us on LinkedIn. 

Contact:
Mr. Jay Kumar
Intent Market Research

1846 E Innovation Park DR Site
100 ORO Valley
AZ 85755

USA: +1 463-583-2713
Email: sales@intentmarketsearch.com