Market Overview
In its research report, Market Research Future (MRFR), emphasizes that the Global Car Actuators Market 2023 is expected to grow exponentially over the review period, securing a substantial market valuation and a healthy 7% CAGR over the review period.
The global Car Actuatorss market is driven by advances in electric and connected vehicles. Car Actuatorss take in energy from electrical and kinetic energy to convert it into motion. It converts electrical energy to mechanical energy and help in regulating engine speed, flywheel rotations, and engine torque. Increasing demand for fuel-efficient vehicles and procurement of actuators can augur favorably for the market. But high costs of Car Actuatorss solutions may hamper market growth.
COVID-19 Impact
The COVID-19 pandemic has negatively affected the Car Actuatorss market. Shutdown of facilities and delay in supply chains has sent a negative shock in the industry. Sluggish interest in the automotive sector owing to control over high spending on luxury items as well as lockdowns by countries can affect market growth.
Competitive Analysis
Stoneridge Inc. (U.S.), Aptiv PLC (U.S.), Hella KGaA Hueck Co. (Germany), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and others are key players in the global Car Actuatorss market. Development of new features and collaborations are to be witnessed in the market. Investments in new facilities such as Continental opening a greenfield facility in India for its powertrain component can be an indicator of the market growth.
Market Segmentation
Electrical Actuators to Spur Market Growth
Electrical actuators can exhibit a strong growth rate owing to its use in conversion of electrical energy to mechanical energy. The focus on comfort is expected to provide opportunities for electrical actuators. They are used in controlling sunroof, seats, and window lift. It is widely used in the automotive sector. On the other hand, the hydraulic actuator can display a strong demand owing to exhibiting large force for a sustained duration.
Fuel Injection Actuator Application to Gain Traction
The fuel injection actuator application is estimated to gain traction by injecting fuel through a port located in the engine during idle time. It can be adjusted through the electronic control unit. On the other hand, the throttle actuator is set to convert the mechanical force of the accelerator by opening the throttle valve in the combustion chamber.
Passenger Cars to Dominate Market Demand
Passenger cars are deemed to dominate the market share owing to sales of passenger vehicles globally. Seat adjustments for improving the comfort and safety of passengers can drive the segment demand. Actuators can provide lumbar support, change positions and seat angles, and track seats.
Regional Analysis
APAC to Lead in Global Car Actuatorss Market
APAC is poised to capture the lead position in the global market owing to procurement of automobiles in the region and sale of small vehicles. Presence of big players in China and development of actuators to control headlights and prevent accidents can drive its demand. Low costs of actuators and domestic concentration of manufacturing units can also play an indispensable part in the market.
Industry News
Schaeffler will unveil its latest force-feedback handwheel actuator and reduce the space required for steering wheels.
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