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Actuators Market for Automotive Application - New Revenue Pockets
Asia-Pacific to Remain The Dominant Market
Asia-Pacific has been a major automotive hub, with a number of global automobile original equipment manufacturers (OEM) setting up manufacturing facilities in the region. Automobile giants such as Volkswagen, Fiat Chrysler Automobiles, General Motors, and Ford Motor Company have already set up manufacturing plants in different parts of this region. Along with these OEMs, Tier I and Tier II suppliers have also begun operating in Asia Pacific to compete with major players in the market. The major Tier I suppliers of automotive actuators in the region are Johnson Electric (China), Mitsubishi Electric Corporation (Japan) and Denso Corporation (Japan). These companies plan to expand their manufacturing facilities to cater to the increasing demand for automotive actuators from OEMs. The growing demand for fuel-efficient vehicles and the increasing production volume of light and heavy vehicles in China and India contribute to the growth of the automotive actuators market in this region
North America is a Potential Market for Automotive Actuators
The North American automotive actuators market is anticipated to grow at a faster pace than the European market, owing to the growing demand for light and heavy commercial vehicles, and the increasingly stringent fuel efficiency norms in North American countries. Manufacturers of automotive actuators, such as Delphi Automotive (U.K.), have a strong presence in the North American region.
European Region to Witness Modest Growth in the Automotive Actuators Market
Europe is a highly sophisticated market in terms of technology and federal norms. The major Tier I suppliers of automotive actuators in the region are Delphi Automotive (U.K.), Robert Bosch GmbH (Germany), Valeo S.A. (France), and Magneti Marelli S.p.A. (Italy). These key manufacturers plan to invest in the expansion of their manufacturing facilities in the actuators segment. The European automotive actuators market is anticipated to grow at a modest rate for the next five years, owing to sluggish growth in the production of light and heavy vehicles in the region.
Actuators Market for Automotive Application by Product Type (Throttle, Power Seat, EGR, Brake, VGT, Wastegate, Grille Shutter, Intake Flap, Electrical Exhaust/Sound Flap, & Thermo Module / Thermal Actuators) by Vehicle Type, by Region - Forecast to 2020
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