Global Automotive Actuators Market to Witness Positive Growth amid COVID-19 Impact, Finds Fact.MR

DUBLIN 2, Ireland - May 6, 2020 - PRLog -- The global automotive actuators market was valued at ~US$65.8 Bn at the end of 2019 and is anticipated to surpass US$109.4 Bn during the forecast period 2020-2030. The COVID-19 pandemic has led the automotive market towards a major slowdown worldwide. The sales of automotive actuators have plummeted with the shutdown of production facilities in leading automotive markets of Europe and Asia, thus posing major challenges to the players operating in automotive market. To overcome this situation, the manufacturers are focusing on research and development to form integrated braking systems which will ensure engine efficiency as well as fuel efficiency. This is anticipated to drive sales of brake actuators during the forecast period. Furthermore, the global demand for automotive actuators will surge by the end of 2020 as they are utilized in number of applications where machineries are involved.

Key Takeaways of Automotive Actuators Market

• Under the impact of Covid-19, global automotive actuators market is expected to create an absolute $ opportunity of more than ~US$ 44.5 and is anticipated to expand 1.7X from 2020 through 2030
• VGT actuator is projected to grow at a value CAGR of 5.4% and is expected to be valued 2.9X more than EGR actuator by the end of 2020
• APEJ region is anticipated to be the market leader in the global automotive actuator market by the 2030 end with more than 39% market share in terms of value
• Aftermarket sales channel is projected to grow 1.6X faster than OEM sales channel and is anticipated to create an absolute $ opportunity of more than ~US$ 27.1 Bn during the forecast period

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"The ongoing COVID-19 pandemic has hit the automotive players adversely on both the supply and demand side causing declining sales of automotive actuators. However, with Chinese automotive suppliers resuming their production, this is expected to swiftly increase the sales of automotive actuators" says the Fact.MR analyst

Facility Expansion to Remain a Prime Growth Lever

Prominent players in the automotive actuators market are Delphi Technologies Inc., Mitsubishi Electric Corporation, Denso Corporation, Continental AG, CTS Corporation, BorgWarner Inc., HELLA KGaA Hueck & Co, Hitachi, Ltd, Johnson Electric, among others. Key players in automotive actuators market are focusing on expanding their manufacturing facilities to increase their reach in the global market.

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