An automotive actuator is an electromechanical device that is used to control the movement of various mechanisms and components in a vehicle. It is usually used to control the vehicle speed, acceleration, and transmission.
The automotive actuator is an important component in modern vehicles as it helps to control the various systems and subsystems that make up a vehicle. It is used to control the brakes, clutch, and throttle, as well as steering, suspension, and other automated functions. It is also used to control the shifting and operation of the transmission, as well as the operation of the differentials.
Asia-Pacific region is expected to witness the highest growth rate due to increasing number of vehicle production in the region. Growing demand for electric and hybrid vehicles is likely to drive the demand for automotive actuators over the forecast period. Additionally, increasing demand for automatic transmission vehicles and emerging e-drive systems is likely to propel the growth of the global automotive actuator market in the coming years.
The global Automotive Actuator market was valued at US$ 13980 million in 2022 and is anticipated to reach US$ 19220 million by 2029, witnessing a CAGR of 4.6% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Automotive Actuator Market available at: https://www.themarketreports.com/report/global-automotive-actuator-market-research-report
This report aims to provide a comprehensive presentation of the global market for Automotive Actuator, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automotive Actuator.
The key players include Bosch, HELLA, Schaeffler, Denso and Inteva Products. The revenue of top five manufacturers accounts only 12% of the total revenue. The high-end products mainly come from Europe.
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