Automotive Actuators Market size is expected to grow exponentially from 2023 to 2032 fueled by the rising applications in the automobile sector, such as braking and acceleration systems. These systems enable the transformation of electrical inputs from control units into mechanical operations such as fluid flow management or pump actuation for pressure buildup.
Actuators are used for engine control to manage idle speed and air flap control to provide torque and optimize power output. The growing awareness of vehicle safety and performance is promoting the growth of the automotive actuators sector. Furthermore, the incorporation of IoT in passenger vehicles to offer increased connection and safety features is likely to drive the industry outlook by 2032.
The industry size from the passenger automobiles segment is expected to grow attributed to the rising need for safety features. These components improve responsiveness and provide safe braking. Rising road deaths throughout the world have prompted the deployment of these components to improve safety, thereby promoting industry growth. For example, the National Highway Traffic Safety Administration estimated that 31,785 people died in automobile accidents during the initial nine months of 2022. Increased government regulation and concerns by automobile manufacturers to improve passenger safety are expected to drive market expansion.
Based on application, the automotive actuators market from the throttle segment is slated to exhibit rapid growth owing to the growing product implementation in proportionate throttle operations. These integrations equip the car with features such as cruise control, traction control, stability control, and high performance. Fuel injection includes a steady flow of gasoline to the engine, which aids in enhancing vehicle fuel efficiency. The functions of the fuel injector, throttle actuator, and electronic control unit aid in improving vehicle performance. The increasing use of these components in automobiles to improve performance and achieve high fuel efficiency is expected to propel the industry growth through 2032.
Asia Pacific automotive actuators market is projected to expand significantly primarily due to the expanding manufacturing capabilities of regional automakers. Autonomous vehicles are steadily gaining popularity in this region due to their safety and technologically advanced features, backed by sensors and actuators. For instance, in August 2022, the Ministry of Transport announced a set of national laws to encourage the use of self-driving taxi fleets in specific conditions to speed the commercialization of autonomous vehicles in China.
Robert Bosch GmbH, Aptiv PLC, Continental AG, Hella KGaA Hueck & Co., Denso Corporation, Wabco Holdings Inc., Nidec Corporation, Sonceboz SA and Mitsubishi Electric Corporation, are among the major companies operating in the automotive actuators market. Businesses are engaging in expansion strategies such as M&A, partnerships, and R&D investments to create innovative products and enhance their product portfolio. Moreover, in November 2022, Piezo Motion, a Florida-based technology business, collaborated with MEV Elektronik Service GmbH to launch its innovative product line which includes linear and rotary piezo motor based on the Blue Series technology for compact, high-precision actuators and electrical motors (brushless DC motors, linear motors, and stepper motors), which enables substantial performance increases with a lower cost of ownership.