The growing demand for fuel-efficient light-weight vehicles that gives high torque alongside the demand for the minimized carbon emission and low engine load drives the Automotive Torque Actuator Motor market exponentially.
Moreover, the technological innovations in these motors have impacted the market growth positively. The increase in the production of automobiles led by the increase in unit sales of new vehicles has escalated the market on ascending height on the global level, augmenting the demand for the torque actuator motors, globally.
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Acknowledging the exponential growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report confirms that the global automotive torque actuator motor market will demonstrate a spectacular growth by 2023, registering a striking CAGR of 12.36 % during the projected period (2018 -2023).
Other factors substantiating the market growth include the improvements brought about in these motors driven by the substantial investments made in the research and development activities and burgeoning automotive industry that is witnessing increasing salesz.
Consumers are continually emphasizing on reduced weight and high torque vehicles and upgrading the systems accordingly is challenge the manufacturers, a great deal. Therefore, to keep the weight of their vehicles and expenses light, automakers are continually looking for the solutions while designing new actuator motors. They are investing hugely in designing, which in turn, is increasing the size of the market.
On the other hand, factors such as technical challenges and regulatory and certification related issues alongside stringent regulations regarding bad fuel emission are expected to restrain the market growth during the projected period. Moreover, technical challenges and regulatory and certification related issues are anticipated to hamper the market growth.
Global Automotive Torque Actuator Motor Market Segmentation:
The market can be segmented into four key dynamics for enhanced understanding;
By Types: Pneumatic, Electric, and Mechanical among others.
By Motion Output: Linear, Rotary, and Electric.
By Applications: Electronic Throttle Control, Turbocharger, and Exhaust Gas Circulation among others.
By Regions: North America, Europe, APAC and Rest-of-the-World
Global Automotive Torque Actuator Motor Market Geographical Analysis:
The Asia Pacific region dominates the global automotive torque actuator motors market with the largest market share. The presence of long-established original equipment manufacturers (OEM) fosters the market growth in the region, providing the strong base for the significant development.
Due to the rapid expansion in the automotive sector in the developing nations such as China, India, and Japan, these OEMs have been focusing on developing technologically advanced and powerful torque actuator motors that can give high torque and performance. The automakers in the region are moving towards new product development and are investing substantially in R&D activities.
Furthermore, the increase in new product development is estimated to drive the market growth in this region. Owing to the increasing demand for torque actuator motor among both OEMs and aftermarket replacement, the APAC region will retain its dominance over the review period.
The European region backed by the well-established automotive industry accounts for the second-largest market for the torque actuator motors. The presence of huge number of giant automakers in the region is the main driving force pushing the market growth up. The resurging economy is undoubtedly acting as a key driving growth force, increasing consumers’ purchasing power. Furthermore, the leading automotive technology providers in this region drive the market growth to an extent.
The North American region is emerging as one of the lucrative markets for automotive torque actuator motors. The burgeoning automotive industry in the region witnessing huge number of innovations provide impetus to the growth of the regional market. Also, the high disposable income and increasing new vehicle registrations support the market growth in the region. The US, is the major producer of automotive torque actuator motors and hence, leads the market in the region.
Automotive Torque Actuator Motor Market Competitive Analysis:
Highly competitive, automotive torque actuator motor market is totally reliant on the unit sales of automobiles. The presence of numerous large and small key players defines the market as fragmented. Matured players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain a competitive advantage and to maintain their position in this market.
The customer-centric approach of manufacturers towards the enhanced life of the product ensures to support their customers from the first concept to the delivery. These companies ensure to offer their customers with a global servicing network, enhanced technical support, and flexible, tailored programs & service offerings along with the web-based customer tools for transactional ease.
Key Players:
Some of the eminent leaders of the market include Johnson Electric (Hong Kong), CTS (U.S.), Mitsuba (India), Bray (U.S.), Rheinmetall (Germany), NSK (Japan), Siko-Global (Germany), Electrocraft (U.S.), HIWIN (U.S.), and Valmatic (U.S.).
Industry/ Innovation/ Related News:
October 23, 2018 – The Hyundai Motor Company (South Korea), a multinational automotive manufacturer launched Hyundai Santro 2018 in India. The AMT unit of the car is developed in-house and uses an electric actuator instead of a hydraulic, which is controlled by a separate electric unit.
October 24, 2018 – The Hyundai Motor Company (South Korea), a multinational automotive manufacturer introduced its high-performance Veloster N model to the U.S. market. 2019 Veloster platform, showcasing an even higher level of performance appealing to the most discerning of automotive enthusiasts will be available in the fourth quarter of 2018. Besides, the powertrain sports a multi-mode, high-flow active sports exhaust system with a variable exhaust actuator.
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