The automotive actuators market has witnessed considerable growth in developing countries such as India, China, and Middle Eastern countries. Automotive actuators are used in the actuation of different systems of a vehicle, including turbochargers, throttle body, EGR system, brake system, power seats, and active grille shutter system.
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Automotive end user segment is projected to grow at the highest CAGR during the forecast period
Under the end user segment, the automotive is projected to grow at a comparatively higher CAGR during the forecast period. This growth can be attributed to the rise in demand for automotive vehicles in emerging markets such as India and China. Increase in the size of middle class income group is the main driver for the growth of the automotive market, which again is driving the actuators market as it is an essential component used in vehicles.
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Asia-Pacific is estimated to grow at the highest CAGR in the actuators market between 2016 and 2021
The Asia-Pacific region is projected to grow at a higher CAGR in the actuators market due to the emergence of rising automotive vehicles demand in the region. Increase in the middle class income group in the region is driving the automotive market demand giving rise to the need for high performance actuators systems in vehicles.
Over time, automotive actuators have evolved from mechanical functioning to being controlled by electrical signals.
This report classifies and defines the automotive actuators market, in terms of volume and value. It provides a comprehensive analysis and insights into the automotive actuators market (both—qualitative and quantitative). It highlights potential growth opportunities for the coming years while also reviewing market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to automotive actuators.
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Automotive actuators market report segments the automotive actuators market by product type (wastegate actuator, VGT actuator, power seat actuator, EGR actuator, intake flap actuator, grille shutter actuator, brake actuator, throttle actuator, thermo module actuator, and electrical exhaust or sound flaps actuator), by vehicle type (PC, LCV, and HCV), and by region (North America, Europe, Asia-Pacific, and RoW). The key players in the automotive actuators market have also been identified and profiled.
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About Absolute Report: Absolute Reports is an upscale platform to help key personnel in the business world in strategizing and taking visionary decisions based on facts and figures derived from in depth market research. We are one of the top report resellers in the market, dedicated towards bringing you an ingenious concoction of data parameters.
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