Global Engine Actuators Market is booming across the globe explored in latest research by 2018-2026

Posted October 5, 2020 by rohit890

An actuator is a component of a machine that is used for controlling or moving a system or mechanism. An actuator requires a source of energy and a control signal,

Market Overview

An actuator is a component of a machine that is used for controlling or moving a system or mechanism. An actuator requires a source of energy and a control signal, which is comparatively a low energy such as electric current or voltage, hydraulic or pneumatic pressure or sometimes human power. The main source of energy might be electric current, pneumatic pressure or hydraulic fluid pressure. The actuator converts the energy into mechanical motion when it receives the control signal.

Increasing demand for fuel-efficient vehicles is one of the major factors driving growth of the market. This is attributed to factors such as increasing dearth of conventional fuels, regulations concerning exhaust gas emissions, increasing need for safety features, and growing trend of electric vehicles. For instance, the European Union has set its own emissions standards such as EU Regulation No 443/2009 that has set an average CO2 emissions target of 130 grams/kilometer for new passenger cars. These factors led to the replacement of mechanical linkages with electrical or electronic components and demand for actuators for use in engines to enhance engine performance and fuel efficiency increased, thereby fueling growth of the engine actuators market.

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Market Dynamics

On the basis of vehicle types, passenger vehicles segment is the fastest growing segment, owing to increasing sales of these vehicles worldwide. According to International Organization of Motor Vehicle Manufacturers, in 2016, around 70 million units of passenger cars were sold worldwide. The number of passenger cars per thousand inhabitants over the past few years have reached up to 182 per thousand inhabitants in 2015 from 178 in 2014, which is a major factor fuelling growth of passenger cars segment. Therefore, increasing sales of passenger vehicles will increase the demand for engine actuators in the vehicles, thereby driving growth of the market.

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Major players operating in the global engine actuators market include Hitachi Automotive System, Aptiv PLC, Continental Automotive GmbH, Eaton Corporation, Aisin Seiki Co., Ltd. Arkwin Industries Inc., Johnson Electric Holdings Limited, Moving Magnet Technologies S.A., Delphi Automotive LLP., and Woodward, Inc.

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Issued By coherent market insights
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Last Updated October 5, 2020