Transparency Market Research (TMR) has predicted the global actuator market to steadily expand between 2017 and 2025. Recent advances upgrading technologies used in the automotive sector will offer impressive growth opportunities to the market. This, coupled with the increasing production of vehicles, will buoy growth for the global actuator market, finds TMR in a new study. The rising demand for automatic features in vehicles has kept the market players on their toes. With their focus on consolidating market shares, the leading names in the global actuators market are looking to expand their product portfolio. Besides this, several among them are engaging in strategic alliances with other prominent enterprises to gain a stronghold in the global actuator market.
In its study TMR has profiled companies such as Cebi International S.A., HUSCO International, Kiekert AG, Actus Manufacturing, Inc., Robert Bosch GmbH, and others. It studies in detail various strategies adopted by these companies to gain a competitive edge in the global actuator market. According to TMR, the market will exhibit a CAGR of over 7% between 2017 and 2025 in terms of volume. The market is likely to be facilitated by the rising demand for vehicles with automatic features. Against this backdrop, the market has gained immensely from the advent and the subsequent popularity of electric vehicles.
Regionally, Asia Pacific emerged dominant in the global actuator market on account of the presence of the several leading companies in the region. The expanding automotive industries in India, China, and Japan are forecast to fuel growth opportunities for the market in Asia Pacific. Besides this, the availability of cheap labors, declining import duties, and favorable government initiatives are expected to create lucrative prospects for the actuators market.
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The study provides a decisive view of the global actuator market for automotive by segmenting the market in terms of actuator type, application, vehicle, and region. These segments have been analyzed, based on present and future trends. Regional segmentation comprises current scenario along with forecast of the actuator market for automotive. The forecast provided is based on the compilation of the current trends as well as the expected scenario in future due to change in technological, geographical, political, and economic factors such as the electric vehicle market is expected grow at significant rate and some of the actuator accompanied with the drivetrain of the vehicle may get affected due to change in the drive train unit of the electric vehicles.
The study includes profiles of major companies operating in the global actuator market for automotive. The major share of the market is held by a few major players and the rest is fragmented between small manufacturers; however, the company profile of major players of the actuator market for automotive from different regions included are Hitachi Automotive Systems Ltd, Actus Manufacturing, Inc., Cebi International S.A., HELLA GmbH & Co. KGaA, HUSCO International, Kiekert AG, Johnson Electric, MAHLE GmbH, Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo, and WABCO. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The market for automotive actuator is primarily driven by rising demand for automatic systems in the vehicles, electric vehicles, and autonomous vehicles.
The report provides the estimated market size of actuator for automotive for 2016 and forecast for the next nine years. The global market size of automotive actuator has been provided in terms of revenue (US$) and volume (Mn Units). Market figures have been estimated, based on actuator type, application, vehicle type, and regional segments of the actuator market. Market size and forecast for each major segment have been provided in terms of global and regional/country markets.
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In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
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