Northbrook, IL -- (SBWire) -- 02/20/2018 --The report "Automotive Actuators Market by Vehicle, Application, Off-Highway Vehicles, Electric Vehicle, Product (Wastegate, VGT, Throttle, Brake, EGR, Power Seat, Grille Shutter, HVAC, Headlamp, and Piezoelectric), and Region - Global forecast to 2022"
The automotive actuators market is estimated to be USD 14.16 Billion in 2017 and is projected to grow to USD 20.33 Billion by 2022, at a CAGR of 7.49%.
The increasing demand for electric vehicles, advanced automated systems in vehicles, and rising trend of engine downsizing in the automotive industry are some of the key factors fueling the growth of this market.
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Browse 230 market data tables and 51 figures spread through 266 pages and in-depth TOC on "Automotive Actuators Market by Vehicle, Application, Off-Highway Vehicles, Electric Vehicle, Product (Wastegate, VGT, Throttle, Brake, EGR, Power Seat, Grille Shutter, HVAC, Headlamp, and Piezoelectric), and Region - Global forecast to 2022"
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Brake actuators segment to hold the largest share of the automotive actuators market, by actuator type
The brake actuator is estimated to hold the largest market share, in terms of value, in 2017. Mandatory installation of anti-lock braking systems (ABS) and electronic stability systems in the U.S. and European countries has been the key driver for the brake actuator market. The increase in the number of electric and fuel-efficient vehicles has further boosted the brake actuator market. In 2015, the Indian government also made ABS mandatory for commercial vehicles, which is expected to further drive the brake actuator demand in the country.
On-highway vehicle segment – A promising market for automotive actuators market
The on-highway vehicle segment is estimated to be the largest market in the automotive actuators market. Increasing number of electric and fuel-efficient vehicles in the automobile industry has driven the growth of the automotive actuators in this segment. This segment comprises a number of automotive actuators, which help to manage and control the applications.
Asia-Pacific: The largest market for the automotive actuators market
The Asia-Pacific market is estimated to hold the largest share, in terms of volume, of the automotive actuators market in 2017. The demand for automotive actuators in this region is triggered by increasing vehicle production in developing nations such as China and India and the increasing number of electric vehicles in countries such as China and Japan. The region is also the leading producer of automobiles in the world.
The report analyzes all major players in the automotive actuators market, including Continental AG (Germany), Hitachi Ltd. (Japan), Robert Bosch GmbH (Germany), Denso Corporation (Japan), and Mitsubishi Electric Corporation (Japan).
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Automotive Actuators Market by Vehicle, Application, off-Highway Vehicles, Electric Vehicle, Product and Region - Global Forecast to 2022
The automotive actuators market, in terms of value, is projected to grow at a CAGR of 7.49% from 2017 to 2022.