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
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.
Moreover, stringent government regulations for fuel-efficient vehicles is another factor driving growth of the global engine actuators market. In 1975, the U.S. government had passed Corporate Average Fuel Economy (CAFE) standards, which had separate standards for ‘passenger cars’ and ‘light trucks’ although majority of the ‘light trucks’ were being used as passenger vehicles. For instance, the fuel economy target for the 2012 Honda Fit with a footprint of 40 sq. ft. (3.7 m2) was 36 miles per US gallon (6.5 l/100 km), equivalent to a published fuel economy of 27 miles per US gallon (8.7 l/100 km) and a Ford F-150 with its footprint of 65–75 sq. ft. (6.0–7.0 m2) had a fuel economy target of 22 miles per US gallon (11 l/100 km).
Global Engine Actuators Market: Segment Trends
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.
Global Engine Actuators Market: Restraint
Rising popularity of electric vehicles and growing sales of vehicles utilized for sports are major factors restraining growth of the global engine actuators market. For instance, according to the International Energy Agency (IEA), over 750 thousand units of electric vehicles were sold in 2016, globally. Hence, increasing production of electric vehicles will decrease the demand for engine actuators in vehicles, as electric cars and other luxurious vehicles have high performance engines, which do not require engine actuator for engine operation.
Global Engine Actuators Market: Regional Insights
Asia Pacific is expected to witness significant growth in the market over the forecast period. The emerging economies such as India and China are the growth engines of the market in this region. Increasing sales of both passenger and commercial vehicles is one of the major factors driving growth of the global engine actuators market in these economies. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the total number of passenger cars sold in India was 2.9 million units in 2016 and it increased up to 3.2 million units in 2017. The total number of commercial vehicles sold in India was 702,640 units in 2016 and it increased up to 789,838 units in 2017. Moreover, establishment of production facilities in these regions by the major automobile industry participants including General Motors, Daimler, and Volkswagen are expected to fuel engine actuators market growth. For instance, in March 2017, Volkswagen, German automaker started the production facilities of SUV Tiguan in India at the Aurangabad plant. Original Equipment Manufacturers (OEMs) are increasing production capacity in the emerging economies such as India and China to meet growing demand for vehicles in the region, which will fuel growth of the market in this region.
Global Engine Actuators Market: Competitive Landscape
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.
Global Engine Actuators Market: Taxonomy
On the basis of product type, the global engine actuators market is segmented into:
On the basis of vehicle type, the global engine actuators market is segmented into:
On the basis of region, the global engine actuators market is segmented into:
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]coherentmarketinsights.com
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.