Market Size of South Korea Automotive Pneumatic Actuators Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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South Korea Automotive Pneumatic Actuators Market Analysis
The South Korea Automotive Pneumatic Actuator Market is anticipated a register a CAGR of over 4% during the forecast period (2020 - 2025).
- The growth of fuel-efficient vehicles and the inclusion of advanced driver assistance systems (ADAS), majorly braking and throttle systems (like adaptive cruise control (ACC) and autonomous emergency braking features), in new vehicles and existing vehicles, are the major driving factors for the automotive actuator market.
- Owing to the rising penetration and replacement rate of the pneumatic actuator with pure electric and electro-pneumatic actuators, the market studied is expected to grow at a slow rate, especially for the passenger car segment.
- However, demand for the automotive pneumatic actuator in the commercial vehicle segment is expected to grow due to an increase in production and sales of trucks and semi-trailers globally.
- The use of fuel injection actuators and throttle actuators in diesel engine vehicles help comply with the Euro VI standard. The market for actuators for fuel injection that are directly related to diesel engines is expected to grow with the development of advanced diesel engines.
