Global Automotive Actuators Market Analyzed by Type (Hydraulic Actuator, Electric Actuator, and Pneumatic Actuator), Application Type (Throttle Actuator, Fuel Injection Actuator, and Brake Actuator), Vehicle Type, and region.
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Market Synopsis
The surging number of aircraft carriers is predicted to contribute to the global market. An actuator can be referred to as equipment which helps to convert energy into motion. Actuators are used to apply a force on an entity in order to perform several mechanical operations. It is a mechanical device that takes energy which is created by the compressed air, liquid, or electricity, and converts it into motion like rotary and linear. They are extensively used in manufacturing or industrial applications and are used in devices like motor, switches, pumps, and valves.
Market Potential and Pitfalls
The Automotive Actuators Market is witnessing a spike in its growth due to the surging number of aircraft carriers across the globe. The constant growth in the global automotive sector coupled with the advancing technology, the market is considered to propel. With the booming industrial base in the Asia Pacific region, the market is likely to gain impetus during the review period. Pneumatic, hydraulic, and electric actuators are referred to as conventional as the majority of automated and robotic mechanical systems use them. The extensive application of actuators across the end-user sector is offering new avenues for innovation trough constructive R&D program undertaken by major market players. The development in the material technology has further offered strong and lightweight substances, thereby making it conceivable to shape strong articulated mechanisms which weigh less and are robust at the same time. The recent advancements made in nanotechnology, information technology, and biotechnology will further necessitate the expansion of shrunken, gadgets, and novel devices which require to apply extensive forces. Such factors are considered to contribute to the market growth during the review period. Moreover, the increased oil exploration activities and revitalization of existing facilities are anticipated to trigger the use of actuators especially in the emerging nations of Latin America and Africa.
On the contrary, the high cost of the actuators is likely to restrict the market growth during the assessment period. Moreover, noise, power consumption, and leaks are some of the primary concerns likely to slow down the growth of the market in the foreseeable future.
Global Automotive Actuators Market: Segmental Analysis
The global Automotive Actuators Market has been segmented on the basis of type and end-users.
By mode of type, the global Automotive Actuators Market has been segmented into hydraulic actuators, pneumatic actuators, mechanical actuators, and electric actuators. Among these, the electric actuator acquires the largest market share with 32.2% in 2016. The segment is likely to expand at the highest CAGR in the foreseeable future as electric actuators benefit from simpler, cleaner, and more energy-efficient power transmission. The implementation of such actuators is easier with programmable controls, and their maintenance is reduced with no parts lubrication or replacement needed except in extreme conditions.
The end-users segment constitutes of oil & gas, automotive, pharmaceutical, aerospace & defense, food & beverages, power, water & wastewater, chemicals, and mining & metals. Among these, the automotive segment commands the largest market share with 18.13% in 2016. The segment is predicted to expand at the highest CAGR of 6.11% in the coming years due to the surging demand from the upper-middle-class for automotive vehicles.
Regional Insights
Geographically, the Automotive Actuators Market has been studied under regions namely, Europe, America, Asia Pacific, and the Middle East & Africa. The Asia Pacific region is estimated to have huge growth potential for the Automotive Actuators Market. The region is likely to drive the IoT growth over the next five years. IoT has been a central area of focus in the emerging countries like China and India and includes the implementation of smart cities and IoT-specific centers of excellence which are likely to stimulate the Automotive Actuators Market growth in this region. The regional market is estimated to expand at the highest CAGR of 5.93% in the foreseeable future.
America is considered as one of the prime regions of actuators and occupy an enormous growth potential in the coming years. The surging investments across life sciences, food processing, automotive, and packaging segments are likely to revive its growth. The regional market is estimated to expand at a CAGR of 5.21% in the long run. The European region is predicted to acquire a significant position as it is one of the major regions for electric two-wheeler and has achieved huge opportunities due to the presence of profitable nations like UK, Norway, and Germany. The region is also the hub for major automobile manufacturers like BMW, Audi, and Volvo. This is likely to pose a positive influence on the growth of the market.
Industry Updates
May 08, 2019: Two interns from NASA have been a part of a group working on soft robots that can be helpful to explore worlds beyond Earth. Interns Jack Fitzpatrick and Chuck Sullivan are constantly working at NASA’s Langley Research Center in Hampton to create soft robot actuators.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 BARGAINING POWER OF SUPPLIERS
3.1.4 THREAT OF SUBSTITUTES
3.1.5 SEGMENT RIVALRY
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Continued…
List Of Tables:
TABLE 1 AUTOMOTIVE ACTUATORS MARKET INDUSTRY 3600 SYNOPSIS, 2012 – 2023
TABLE 2 GLOBAL AUTOMOTIVE ACTUATORS MARKET MARKET ESTIMATES AND FORECAST, 2012 – 2023, (TONS) (USD MILLION)
TABLE 3 GLOBAL AUTOMOTIVE ACTUATORS MARKET MARKET VOLUME BY REGION, 2012 – 2023, (TONS)
TABLE 4 GLOBAL AUTOMOTIVE ACTUATORS MARKET MARKET REVENUE BY REGION, 2012 – 2023, (USD MILLION)
Continued…
LIST OF FIGURES:
FIG. 1 AUTOMOTIVE ACTUATORS MARKET INDUSTRY SEGMENTATION
FIG. 2 GLOBAL AUTOMOTIVE ACTUATORS MARKET MARKET VOLUME & REVENUE, (TONS) (USD MILLION), 2012 – 2023
FIG. 3 AUTOMOTIVE ACTUATORS MARKET ECOSYSTEM ANALYSIS
FIG. 4 AUTOMOTIVE ACTUATORS MARKET INDUSTRY IMPACT FORCES
Continued…
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