Market Size of Automotive Actuators Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 21.10 Billion |
| Market Size (2029) | USD 27.58 Billion |
| CAGR (2024 - 2029) | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Actuators Market Analysis
The Automotive Actuators Market size is estimated at USD 21.10 billion in 2024, and is expected to reach USD 27.58 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
Over the medium term, the adoption of electric vehicles in the region is expected to drive up the demand for automotive actuators. This growth is attributed to the increasing need for fuel efficiency and comfort, particularly in passenger vehicles. Therefore, the automotive actuators market is anticipated to experience significant growth during the forecast period.
Due to technological advancements in the automotive industry, such as autonomous vehicles and advanced driver assistance systems (ADAS), the usage of actuators has increased rapidly. Among the various ADAS, the adaptive cruise control (ACC) and adaptive front-lighting system (AFS) features have become increasingly popular in modern vehicles. These systems include automated brake assist, lane keep assist, and others, which have greatly improved driving safety.
The growing demand for cars that save fuel and the increasing demand for advanced actuator products are pushing major manufacturers to invest in R&D activities, which is likely to witness major growth for the market in the coming years.
