The automotive actuator market was USD 21.0 billion in 2023, and it will increase to USD 29.6 billion, with a 5.2% compound annual growth rate, by 2030.
This is mainly because of automation in vehicles, the shifting demand of customers for control systems, and improvement in features. Such devices alter energy taken from hydraulic, pneumatic, or electric sources and deliver rotary or linear motion across different applications in the automotive sector.
The automotive sector, over the years, has witnessed a significant transformation due to technological improvements. This journey started with the utilization of mechanical linkages, which are now being substituted with advanced systems (a mixture of processors, actuators, and sensors).
The hydraulic category was the largest contributor to the industry. This can be mainly ascribed to the surging need for heavy-duty vehicles. Hydraulic actuators change pressure to motion by compressing fluids. Moreover, they offer better power and force than others; therefore, they are employed to offer actuation in components like pistons and throttle.
In 2023, the throttle category had the largest industry share, of approximately 55%. This is due to the substantial influence this application brings by controlling the amount of air entering the engine. Earlier, the operation was automatically controlled, and it has now been replaced by drive-by-wire or electronic systems, which enhance fuel efficiency, accuracy, and the smoothness of acceleration.
In 2023, the passenger vehicles category had the larger industry share, of approximately 70%. The surge in the need for and making of these automobiles and the technical improvements being introduced in them are the major propellers for this category.
The linear category commands a significant portion of the industry's revenue due to its precise control, compact design, and versatile applications in vehicles. These types of linear motion mechanisms facilitate either pushing or pulling motions as well as changes in angle.
They find key uses in various automotive applications such as seat adjustments, door operation, automatic window systems, and sunroof mechanisms.
APAC stands out as the largest and most rapidly expanding market, with a projected CAGR of approximately 5.8% from 2024 to 2030. The considerable demand for automotive actuators in this region stems from advancements in vehicle technology and the substantial automobile market demand.
South Korea, China, India, and Japan are dominating the industry. China is the major manufacturer and purchaser of these components as it has the largest automobile industry. The Chinese vehicle sector is propelled by both high need and the addition of advanced technologies in vehicles, making it competitive and providing a profitable opportunity for actuator providers.
Source: P&S Intelligence
