Global Automotive Actuators Market 2019-2023
About this market
Development of autonomous vehicles to drive growth in the market. With the level of autonomy increasing autonomous cars, the need for actuators will go up. Thus, with almost all OEMs focusing on developing autonomous vehicles, the global automotive actuators market will stand to benefit immensely over the years. Technavio’s analysts have predicted that the automotive actuators market will register a CAGR of more than 8% by 2023.
Increasing electronic content in vehicles
The innovations in safety systems such as anti-pinch power windows and rain-sensing wipers among others are increasing the electronic content in vehicles, which consequently increases the number of actuators.
Growing adoption of electric vehicles
The increasing adoption of electric vehicles eliminates the need for engine actuators and transmission actuators, and this is expected to hinder the market growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the automotive actuators market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including HELLA and Mitsubishi Electric the competitive environment is quite intense. Factors such as the development of autonomous vehicles and the increasing electronic content in vehicles, will provide considerable growth opportunities to automotive actuators manufactures. Bosch, Continental, Delphi Technologies, DENSO, HELLA, and Mitsubishi Electric are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Automotive Actuators Market 2019-2023
Technavio recognizes the following companies as the key players in the global automotive actuators market: Bosch, Continental, Delphi Technologies, DENSO, HELLA, and Mitsubishi Electric.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the development of autonomous vehicles.”
According to the report, one of the major drivers for this market is the increasing electronic content in vehicles.
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