The Automotive Actuators market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period. The Automotive Actuators market is witnessing rapid growth owing to the adoption of advanced systems and comfort features in nearly all mid-size to high-end vehicles. Leading manufacturers are highly focused on launching products with new technologies, which will serve a wide range of vehicle applications in the future. This will help the manufacturers cater to the rising customer demand for advanced feature vehicles and achieve the targeted market share in the global automotive actuators market.
The Automotive Actuators market is dominated by globally established players such as Robert Bosch (Germany), HELLA GmbH & Co. KGaA (Germany), Johnson Electric (China), Denso Corporation (Japan), and Continental AG (Germany). These companies focus on developing new products, engaging in mergers & acquisitions activities, adopting expansion strategies, and undertaking.
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Robert Bosch is a leading player in the Automotive Actuators market. The company followed various strategies to remain dominant at a global level. The company is strongly investing in merger & acquisition activities. For instance, In 2023, Bosch planned to acquire eesy-ic GmbH, which expanded its semiconductor activities for the automotive market. eesy-ic GmbH’s integrated circuits are used in electronic control units for vehicles and other mobile solutions. Also, automotive vehicles have recently changed with software and electronics; hence, the market for software-intensive electronic systems in automotive vehicles will grow rapidly in the coming years. Thus, Bosch is shaping the trend of future mobility by extending its leading position in this market through new product development, merger & acquisition activities, and expansion. The company also invests in collaboration, resulting in a robust distribution network, pushing it to broaden its product portfolio and provide customers with innovative and high-quality automotive actuators. Such as Bosch is the first company to develop electric actuators for power steering systems. This strategic mix helped the company advance its position and lead in the coming future.
Continental AG is another leading automotive actuator manufacturer. This technology company develops pioneering technologies and services for connected mobility. The company continues to target differentiation of its product portfolio, focusing on growth centered around innovations, which will be a critical factor in customers’ future purchasing decisions. The company purposely enters into collaboration and partnership activities with smaller firms and start-up businesses. The company is focused on systematic expansion with zero tailpipes, which contributes to achieving the carbon neutrality and emission-free mobility target.
Denso Corporation is one of the significant players in the global automotive actuator market. The company focuses on three key trends: electrification, advanced safety & automated driving, and connected cars. Denso is focusing on increasing its geographical presence through strategic mergers & acquisitions activities like acquiring a 50% stake in Adasens Automotive GmbH, a German company, to gain a strong presence in Europe. Also, the company is focused on expanding its business by opening electrification innovation centers and training centers that support the development of electrified automotive products, systems, and technologies. The company invests in the strategy of partnership with universities, automakers, research facilities, and other organizations to create cutting-edge products and technologies that satisfy the requirements of every location, which helps the company gain a considerable competitive advantage.
Automotive Actuators Market for ICE and Electric Vehicle by Product Type (Brake, Throttle, Turbo, and Others), Application (Engine, Body Control & Exterior, Interior), On- and Off-highway Vehicles, Actuation, Motion and Region - Global Forecast to 2030
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