China Automotive Actuators Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.62 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Automotive Actuators Market Analysis
The China automotive actuators market was valued at USD 7.45 billion in the current year and is projected to grow to USD 9.22 billion in the next five years, registering a CAGR of 5.62% during the forecast period.
- The COVID-19 pandemic had an unprecedented and staggering impact on the automotive actuators market. These products witnessed a lower-than-anticipated demand throughout 2020 due to the shutdown of manufacturing facilities and disruptions in the supply chain. Additionally, the fluctuating raw material prices further aggravated the challenges faced by the market.
- However, the automotive industry recovered from the losses in the year 2021 and 2022 and paved the way to introduce quality products to cater to the rising demand from consumers across the country. The automotive industry witnessed significant growth in terms of production in 2022, which increased the demand for actuators across the country.
- Over the medium term, rising vehicle electrification in the vehicle is likely to increase demand for automotive actuators. Growing demand for fuel efficiency and comfort, especially in passenger vehicles, is driving the growth of the automotive actuators market during the forecast period.
- The rise in the sale of passenger cars across the country is likely to witness major growth in the market. In 2022, around 26.86 million units of vehicles were sold in the country. Growing demand for safety features in the vehicle is likely to increase the demand for actuators during the forecast period. The increasing demand for fuel-efficient vehicles, along with the rising demand for advanced actuator products, among buyers, is compelling the major manufacturers to invest in R&D activities.
- The market is witnessing a significant increase in the integration of modern safety and comfort features in vehicles, including advanced driver assistance systems (ADAS) and vehicle infotainment. This growth is driven by the increased production of automobiles with integrated ADAS features, which cater to the rising demand for passenger comfort and safety. Furthermore, government legislation mandating safety measures further fuels the market demand for these advanced features.
China Automotive Actuators Market Trends
Electric Actuators is Driving the Growth of The Market
- Many technological advancements have been done in the automotive market field, which has directly impacted automotive actuators, which are witnessing newer challenges and developments. Problems such as improving effectiveness with various functional components in the vehicle ranging from throttle actuators, brake actuators, closure actuators (window, door, and sunroof), and other application types are driving the research and development of the market.
- The electrical actuators are equipped with most of the newer vehicles. They emit lesser heat, lower noise emission, design, and offer flexible installation options. Additionally, since they run on battery, they can deliver higher torque while they are also compact and lightweight, making them an optimum choice over regular actuators. Advanced electrical circuiting and also well-designed software make actuators easier to operate. Electric actuators are widely used in window lifts, power tailgate drives, seat adjustments, and sunroof drives.
- Rising demand for electric vehicles across the country is likely to increase the demand for electric actuators in the coming years. Major vehicle manufacturers are launching new electric vehicle models in the country, which in turn is anticipated to enhance the market's growth. For instance, in February 2023, Geely launched the L7, its first model in the new Galaxy electric vehicle lineup. The L7 is equipped with advanced safety and comfort features.
- There is also a growing demand for features offering better comfort to the passengers, which has become a necessary factor for top manufacturers to differentiate from each in the growing actuators industry. As a result, original equipment manufacturers (OEMs) invest heavily in efforts to enhance the driving and passenger experience by proving the best actuators to their customers.
Demand for Passenger Cars Drive the Growth for Automotive Actuators Market
- China is one of the prominent countries in terms of vehicle manufacturing in the Asia-Pacific. China has a major presence of automotive manufacturers, which will likely create lucrative opportunities for the market during the forecast period.
- The China government has introduced many incentive plans to bolster auto sales and has also offered subsidies on the purchase of electric vehicles to encourage the expansion of the automotive industry in the county. For instance,
- According to the China Association of Automobile Manufacturers (CAAM), China's passenger car sales from January to May 2023 stood at 10.61 million units, an increase of 11.1%, compared to the same period of the previous year, and sales of new energy vehicles, which include pure electric vehicles, plug-in hybrids, and hydrogen fuel-cell vehicles, increased by 46.8%.
- Moreover, China's economic expansion will raise demand for passenger automobiles in the future, prompting global automakers to spend extensively on technology and contemporary mass production processes, fueling demand for automotive actuators.
- The growing trend of vehicle electrification is a significant factor driving the automotive actuators market. Major vehicle and automotive component manufacturers are collaborating to develop intelligent driving systems, including intelligent cockpits, electronic fuel injection systems, and others that are likely to witness major growth in the market during the forecast period.
- For instance, on February 7, 2023, the BAIC Group signed a strategic cooperation agreement with Bosch China to conduct comprehensive and in-depth strategic cooperation in the fields of intelligent cockpits, intelligent driving, and intelligent connectivity to expand vehicle usage scenarios.
- Additionally, lower system prices have also aided in the rapid adoption of actuator products in China, which will positively impact the target market's growth.
China Automotive Actuators Industry Overview
China's automotive actuators market is dominated by several key players such as Continental AG, Robert Bosch GmbH, Nidec Corporation, DensCorporationon, and Others. Several Key players are expanding their presence across the country, which in turn is likely to witness major growth for the market during the forecast period.
For instance, in February 2023, Nidec Corporation announced an expansion of its research and development facility in China. The research and development facility looks into actuators for automotive applications.
In March 2022, Mitsubishi Electric Corporation opened the Collaborative Engineering Center (China)' within its local subsidiary Mitsubishi Electric Automation (China) Ltd. Through this expansion, the company enhanced its product portfolio across the country.
In October 2021, Hella GmbH & Co. KGaA expanded the vehicle electronics factory in Shanghai to meet the rising demand for key auto components. Through this expansion, the company doubled its production capacity of automotive components.
China Automotive Actuators Market Leaders
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Denso Corporation
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Nidec Corporation
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Continental AG
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Robert Bosch GmbH
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BorgWarner Inc.
*Disclaimer: Major Players sorted in no particular order
China Automotive Actuators Market News
- March 2023: Kongsberg Automotive SA entered into a contract with one of China's largest original equipment manufacturers (OEMs) in the passenger cars segment. The contract involves the supply of an electric rotary actuator (ARC) used to change drive modes on the transmission, including park (P), drive (D), neutral (N), and reverse (R). The company announced that its driveline business unit successfully secured a new three-year contract for actuators, estimated to generate a lifetime revenue of USD 27.74 million.
- January 2022: BMW AG introduced the BMW iX3, an electric sports utility vehicle (SUV) model, in China. The models are equipped with brake actuators manufactured by Lucas Varity Langzhong Brake Co., Ltd. (LVLB), China.
- May 2021: ZF Friedrichshafen AG introduced the Brake Actuator Platform. Brake actuator technology offers significant safety and cost-efficiency benefits for OEMs.
China Automotive Actuators Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value - USD )
5.1 Actuators Type
5.1.1 Electrical actuators
5.1.2 Hydraulic actuators
5.1.3 Pneumatic actuators
5.2 Application Type
5.2.1 Throttle Actuator
5.2.2 Seat Adjustment Actuator
5.2.3 Brake Actuator
5.2.4 Closure Actuator
5.2.5 Other Application Types
5.3 Vehicle Type
5.3.1 Passenger Car
5.3.2 Commercial Vehicles
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Denso Corporation
6.2.2 Mitsubishi Electric Corporation
6.2.3 Nidec Corporation
6.2.4 Hitachi Ltd
6.2.5 Continental AG
6.2.6 Robert Bosch GmbH
6.2.7 Denso Corporation
6.2.8 BorgWarner Inc
6.2.9 Hella KGaA Hueck & Co.
6.2.10 Shanghai Hugong Auto-Electric Co., Ltd.
6.2.11 Zhejiang Asia-Pacific Mechanical & Electronic Co., Ltd.
6.2.12 Ningbo Shuanglin Auto Parts Co., Ltd.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
China Automotive Actuators Industry Segmentation
An actuator is a machine component responsible for moving and controlling a mechanism or system; for example, by opening or closing a valve. Automotive actuators find their applications in vehicles for performing functions such as throttling, braking, operating the headlight, heating, ventilation, and air conditioning (HVAC), electronic clutch actuation, closures, and others, which have been considered in the scope of the market.
China's automotive actuators market is segmented into actuator type, application type, and vehicle type. Based on the actuator type, the market is segmented into hydraulic actuators, electric actuators, and pneumatic actuators. Based on the application type, the market is segmented into throttle actuators, seat adjustment actuators, brake actuators, closure actuators, and other application types. Based on the vehicle type, the market is segmented into passenger cars and commercial vehicles.
For each segment, the market sizing and forecast have been done based on the value (USD).
| Actuators Type | |
| Electrical actuators | |
| Hydraulic actuators | |
| Pneumatic actuators |
| Application Type | |
| Throttle Actuator | |
| Seat Adjustment Actuator | |
| Brake Actuator | |
| Closure Actuator | |
| Other Application Types |
| Vehicle Type | |
| Passenger Car | |
| Commercial Vehicles |
China Automotive Actuators Market Research FAQs
What is the current China Automotive Actuators Market size?
The China Automotive Actuators Market is projected to register a CAGR of 5.62% during the forecast period (2024-2029)
Who are the key players in China Automotive Actuators Market?
Denso Corporation , Nidec Corporation , Continental AG , Robert Bosch GmbH and BorgWarner Inc. are the major companies operating in the China Automotive Actuators Market.
What years does this China Automotive Actuators Market cover?
The report covers the China Automotive Actuators Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Automotive Actuators Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Automotive Actuators Industry Report
Statistics for the 2024 China Automotive Actuators market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Automotive Actuators analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
