Automotive Actuators Market Size, Share, Trends & Analysis by 2030
The global automotive actuators market is estimated at USD 27.9 billion in 2024. It is projected to reach USD 33.5 billion by 2030 at a CAGR of 3.1%. The growing demand for EVs presents a lucrative opportunity for the automotive actuators market, as electric actuators are critical for battery management and motor control. The rise of ADAS-equipped vehicles further drives the need for actuators to...
Automotive Actuators Market Accelerates Towards $29.3 Billion by 2030
The Automotive Actuators Market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period.
Automakers are highly focused on developing new and improved components to increase the fuel efficiency of vehicles owing to growing concerns over environmental changes. Automotive actuators play a significant role...
Growing Demand for Fuel-Efficient and Electric Vehicles to Propel the Growth of Automotive Actuators Market in the Coming Years
Actuators are being implemented in the automotive industry since for long with a purpose of converting energy into motion. Advancements in technology coupled with the increasing number of applications of actuators have led the global market for automotive actuators to witness good growth in the past few years. In addition, growing demand for fuel-efficient vehicles and growing automotive industry are...