The global automotive actuator market was valued at USD 14.2 billion in 2023, with demand expected to grow at a CAGR of 6.9% from 2024 to 2034. The market value is projected to rise from USD 15.1 billion in 2024 to USD 28.7 billion by 2034.
Actuators play a crucial, though often overlooked, role in automotive technology. A typical vehicle may contain anywhere from 30 to over 100 actuators, depending on its complexity and luxury features.
These devices convert electrical or other forms of energy into mechanical energy to facilitate motion in various parts or components, which is expected to drive demand. Actuators are vital for vehicle automation, enabling functions such as opening and closing valves, moving levers, and actuating relays. Their applications extend across safety, comfort, and performance enhancements.
The growth of the market is largely driven by the rising adoption of electric and hybrid vehicles globally, which require advanced actuators for numerous functions. Additionally, technological advancements in actuator systems, such as miniaturization and enhanced efficiency, are likely to further increase demand.
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Key Takeaways for the automotive actuator market:
- Market Growth: The global automotive actuator market is projected to grow from USD 15.1 billion in 2024 to USD 28.7 billion by 2034, with a CAGR of 6.9%.
- Critical Functionality: Actuators play a vital role in vehicles, converting electrical energy into mechanical energy to facilitate various movements and functions, from safety systems to comfort features.
- Prevalence in Vehicles: A single vehicle can contain anywhere from 30 to over 100 actuators, reflecting their importance in modern automotive design and technology.
- Impact of Electric and Hybrid Vehicles: The increasing adoption of electric and hybrid vehicles is driving demand for sophisticated actuators, as these vehicles require advanced systems for various functions.
- Technological Innovations: Innovations such as miniaturization, improved efficiency, and the integration of smart technologies are enhancing actuator performance and expanding their applications.
- Applications Across Features: Actuators are essential in various vehicle functions, including safety (e.g., airbags, stability control), comfort (e.g., power windows, seat adjustments), and performance (e.g., throttle control).
- Automation and Advanced Systems: Actuators are key components in the automation of vehicle systems, facilitating the growing trend towards autonomous driving and advanced driver-assistance systems (ADAS).
Competition Outlook
The leading manufacturers in the automotive actuator market include Denso Corporation, Hitachi, Ltd., Robert Bosch GmbH, Nidec Corporation, Mitsubishi Heavy Industries Ltd., ZF Friedrichshafen AG, Magna International, Inc., Mahle GmbH, Brose Fahrzeugteile GmbH & Co KG, Vitesco Technologies, Minebea Mitsumi, Inc., and HELLA GmbH & Co. KGaA, as detailed in the full report.
Key players are focusing on expanding domestic production and investing in new technologies to provide cost-effective solutions for vehicle owners. They are also collaborating with local companies and start-ups to share ideas and co-develop new products.
Industry Updates
- March 2024: Kongsberg Automotive, based in Norway, secured a contract worth over EUR 22 million in estimated lifetime revenue for an electric rotary actuator intended for plug-in hybrid electric vehicles (PHEVs). This new product, a compact park lock actuator, functions as a rotary actuator within powertrains and is designed to prevent vehicle movement when parked. It features variable torque and speed behavior at specific positions.
- June 2024: Vitesco Technologies from Germany launched its innovative Rotor Lock Actuator tailored for electric vehicle manufacturers. This actuator includes optional brush systems, rotor position sensing, and park locking, which helps reduce costs and optimize design.
- May 2024: Canada-based Sheba Microsystems Inc. introduced the world’s first autofocus automotive camera, named Sharp-7, utilizing the company’s patented MEMS actuators.
- December 2023: BURGER GROUP, a Germany-based firm, announced the development of a new series of electromechanical valve actuators aimed at fulfilling the specific requirements of active thermal management systems in vehicles.
- October 2023: Continental, also from Germany, launched ATE Electronic Parking Brake Actuators designed to save time and costs associated with caliper repairs. These actuators are supplied to several prominent European carmakers, including Audi, BMW, Jaguar, Land Rover, Mercedes-Benz, Volkswagen, and Volvo.
- September 2023: Marelli, a leading company based in Japan, unveiled an innovative range of multipurpose smart actuators specifically designed for electric vehicles. These actuators simplify the actuation of complex vehicle functions, allowing manufacturers to enhance integration and reduce complexity.
Key Segments of Market Report
By Product Type:
A few key product types included in the study are transmission actuators, driveline actuators, and brake actuators.
By Vehicle Type:
The leading types of vehicles included in the study are passenger cars, light commercial vehicles, and heavy commercial vehicles.
By Working Type:
In terms of working types, the industry is divided into pneumatic, hydraulic, electromagnetic, and electric.
By Sales Channel:
Based on sales channel, the industry is bifurcated into original equipment manufacturer (OEM) and aftermarket.
By Region:
A few regions considered in the study include North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa.
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