Automotive Actuators Market Worth

The global Automotive Actuators Market size, in terms of value, is projected to grow $13.1 Billion by 2020 at a CAGR of 10.4% from 2015 to 2020. According to the last MarketsandMarkets premium market research report, Europe is a major hub for several OEMs that are known for delivering high-performance vehicles.

However, Eastern Europe still lags behind western European countries such as the U.K., Germany, France, and Italy, in terms of technology. This provides OEMs with an opportunity to expand their footprint in Eastern Europe to cater to the demand for automotive actuators in the region. The European Automotive Actuators Market is projected to grow at a CAGR of 10.0% from 2015 to 2020.

The Asia-Pacific region comprises countries such as China, India, and Japan. The region is dominated by developing countries such as India and China, where the automotive industry is growing at a rapid rate. The rising demand for fuel-efficient vehicles and the increasing production volume of passenger cars is driving the Automotive Actuators Market in the region. The Asia-Pacific automotive actuators market is projected to grow at a CAGR of 10.4% from 2015 to 2020. The North American region comprises developed countries such as the U.S. and Canada. The North American Automotive Actuators Market is dominated by the U.S., which is known to be an automotive hub for renowned OEMs.

The growing trend of engine downsizing and stringent emission norms are driving the Automotive Actuators Market in the North American region. Furthermore, several OEMs plan to set up vehicle production plants in Mexico and Canada, which in turn would drive the demand for automotive actuators. The North American automotive actuators market is projected to grow at a CAGR of 11.2% from 2015 to 2020.