The global automotive actuators market size is projected to grow at a CAGR of 7.1% during the forecast period, to reach USD 39.5 billion by 2027 from an estimated USD 22.8 billion in 2019. The increasing demand for fuel efficient vehicles, trend of engine downsizing, growing levels of comfort, and rising production volume of passenger cars, light, and heavy commercial vehicles in countries such as the US, China, and India have fueled the demand for automotive actuators across the globe.
Agreements, partnerships, collaborations, and expansions are the key strategies adopted by players to achieve growth in the automotive actuators market. Robert Bosch GmbH (Germany), Continental AG (Germany), and Denso Corporation (Japan) are the major companies that adopted these strategies.
New product launch and development was the second most adopted strategy by automotive actuators manufacturers to cater to the growing demand from original equipment (OE) customers. Robert Bosch GmbH (Germany), Hella GmbH & Co. KGaA (Germany) and BorgWarner Inc. (US), are some of the actuator manufacturers who adopted the strategy of new product development.
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The automotive actuators market has witnessed significant growth in developing countries during the past few years. Vehicle production is growing in China, India, and certain countries in the Rest of the World (RoW) region such as Russia and Brazil. OEMs are targeting emerging economies to expand their existing production capacity.
Continental AG is one of the leading players in the global automotive actuators market. The company is one of the largest manufacturers of actuators for all vehicle segments, including passenger cars, light commercial vehicles, and heavy commercial vehicles. Continental announced that its powertrain business had become the first part of the group to complete its realignment, with the management team fully in place since April 1, 2019. It now operates as an independent business that will trade under the name of Vitesco Technologies. The new company has three business areas, each of which operates economically independent. Aiming to strengthen their portfolio and boost performance, the former Engine Systems and Transmission units were merged to create a new “Engine & Drivetrain Systems” (E&DS) business area. The former Sensors & Actuators and Fuel & Exhaust Management units were also merged to form the new Powertrain Components (PTC) business area.
Robert Bosch GmbH manufactures and sells automotive and other consumer products. The company operates through four major business segments-automotive technology, industrial technology, energy and building technology, and consumer goods. It offers automotive actuators through its automotive technology business segment. The company has a vast portfolio of actuators such as electric windows, seat adjustment, sunroofs, fan modules and engine-cooling drive systems, pumps and valves for cooling systems, front and rear wiper systems, and wiper blades. The company has adopted joint ventures to create a strong presence in the market. For instance, in November 2018, Bosch and Daimler announced a joint development partnership to work on highly and fully automated driving (SAE level 4/5). In urban environments, Bosch and Daimler aim to improve the flow of traffic in cities, enhance road safety, and provide an important building block for the way traffic will work in the future. In this joint venture, Daimler’s task is to bring the drive systems into the cars. The company is providing the necessary development vehicles, test facilities, and vehicles for the test fleet. Bosch is responsible for the components specified during the development work such as sensors, actuators, and control units.
Automotive Actuators Market by Vehicle, Application, On-Highway Vehicle, Actuation, Motion, Product (Brake, Cooling Valve, Power Window, Throttle, EGR, Power Seat, Grille Shutter, HVAC, Headlamp, Piezoelectric), and Region - Global Forecast to 2027
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