The steady shift in manual to automatic functions has been a key growth factor for actuator manufacturers
Albany, NY -- (SBWIRE) -- 06/13/2018 -- Actuator market is likely to continue its steady growth path, and increase at a CAGR of 6.5% during the review period 2017-2025, according to a new research study added to the vast database of Market Research Reports Search Engine (MRRSE). According to the report titled "Actuator Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025", the actuator market is likely to witness steady growth on account of steadiness in automotive sector in America and Asia Pacific.
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The research study tracks the key developments that are impacting the actuator market. The steady shift in manual to automatic functions has been a key growth factor for actuator manufacturers, however, the growing focus on electric vehicles can mean that actuator industry will need to adapt to the changing status quo. Although the electric vehicle segment is still at a nascent stage, it could eat into the revenue share of traditional players who are not adept at adapting to the changes this transformation is likely to bring.
The global focus on fuel efficiency and engine downsizing are also impacting the demand for actuators in a positive manner. OEMs are equipping their vehicles with performance boosters, which require optimal actuator working. The introduction of autonomous vehicle is also likely to create opportunities for actuator manufacturers during the assessment period.
The growing emphasis on developing electric vehicles can offset the growth of the actuator market. Actuators that are accompanied with engines are likely to be removed from the drivetrain in electric vehicles, which is likely to lead a reduction in demand. However, electric vehicles will have a minority share in the total commercial and passenger vehicle, which will mean that the actuator industry will not be massively influenced.
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The business intelligence study offers in-depth analysis and insights on the actuator market, highlighting the likely performance of the market in key regions of North America, Latin America, Asia Pacific, Middle East & Africa, and Europe. According to the report, Asia Pacific will continue to be one of the leading markets for actuator market during the assessment period, with China and India at the forefront of demand. In addition to Asia Pacific, the resurgence of the automotive industry in the US is also likely to create growth opportunities for key players in the market.
The research study offers analysis on the leading players in the actuator market. Some of the key players profiled in the report include Hitachi Ltd, HELLA GmbH & Co. KGaA, Johnson Electric, Mitsubishi Electric Corporation, Robert Bosch GmbH, and Valeo. According to the research study, Robert Bosch GmbH is one of the leading players in the actuator market, and is likely to hold significant revenue share of the market during the assessment period.
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