Automotive Actuatoars Market: Fueled by Growing Safety Preference of Consumers
According to the report compiled by Fact.MR, the global automotive actuators market is likely to witness robust growth. The market is estimated to register 6.1% CAGR during the forecast period, 2017-2022. Owing to the better performance, consistency, and saving energy, actuators in the automotive industry are gaining a lot of traction.
[UKPRwire, Tue May 21 2019] According to the report compiled by Fact.MR, the global automotive actuators market is likely to witness robust growth. The market is estimated to register 6.1% CAGR during the forecast period, 2017-2022. Owing to the better performance, consistency, and saving energy, actuators in the automotive industry are gaining a lot of traction. With increasing use in cars, manufacturers are also providing a new and improved form of actuators, thereby eliminating fluid leaks and improving energy efficiency. Mini electric actuators are also being used in automotive sensor system and advanced driver assistance system.
Emergence of fuel efficient vehicles on the back of exponential rise in environment protection initiatives globally, sets automotive actuator market on optimistic growth trajectory. Consumer tendency for owning lightweight vehicles and preferences for downsized engines with superlative fuel efficiency necessitates adoption of automotive actuators to adequately convert energy from hydraulic fluid, electric current, and pneumatic pressure into mechanical motion. Across emerging economies such as India where population also continues to remain very high, demand for passenger vehicles for seamless transportation is augmenting voluminous production of automotive. Besides rising car ownership, passenger cars and notable popularity of carpooling and share-riding trends are likely to supplement rapid adoption of automotive actuators in subsequent times.a
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Developed economies such as North America and Europe continue to remain mature markets for automotive actuators. Stringency in road safety and environment protection have catapulted integration of advanced features such as safety sensors, impact sensors, anti-theft, and parking sensors, thereby cradling ample growth opportunities for automotive actuators market. On the back of surged vehicle theft, federal governments have promoted stringent vehicle protection norms thereby mandating adoption of immobilizers for advanced security performance. Australia has emerged as a pioneering region for the same, allowing growth and expansion in automotive actuators market.
Massive expansion in connecting features in contemporary cars such as hotspot connectivity is relatively in a nascent stage, however promising novel application areas for automotive actuators. Additionally, automated functionalities in cars such as automated window regulators is a novelty in contemporary automotive, allowing ample growth in automotive actuators market. However, extended lifespan of automotive is significantly shrinking opportunities for OEMs, allowing automotive actuator aftermarket to remain potentially lucrative.
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Automotive Actuators Market: Overview
The automotive actuators market has been analyzed in detail to offer definitive forecast insights on the market for the period 2018-27. This report is an exhaustive compilation of a detailed overview of automotive actuators market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth, also shedding light on other relevant factors that direct future prospects of the market trajectory.
The report aims to offer readers with ample competitive advantage and cues on market entry barriers, based on which aspiring market entrants as well as established players can drive profitable investment discretion. To aid readers’ understanding the report is systematically classified into detailed chapters. In its trailing sections the report also includes a detailed chapter on segmental analysis of automotive actuators market to offer veritable insights on segments’ historical and future growth estimations. Further in the course of the report readers are also enlightened about regional assessment of pivotal factors across regions.
Detailed overview of automotive actuators market spectrum presented in the report banks upon a robust research methodology comprising primary and secondary researches that divulge relevant and timely market intelligence figures.
Automotive Actuators Market: Competition Landscape
This section of the report offers a detailed section on key contributors in automotive actuators market. A dashboard view of each of the mentioned profiles complete with detailed insights on their respective SWOT analysis along with detailed assessment of their product portfolio, market contribution, as well as recent developments have been slated to aid readers’ understanding about the competition spectrum.
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