8 Business View - May 2015
Opening
Lines
The global automotive actuators market, in terms of value, is
projected to grow $13.1 billion by 2020 at a CAGR of 10.4 per-
cent according to a report published by MarketsandMarkets,
the world’s No. 2 firm in terms of annually published premium
market research reports.
The Asia-Pacific 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 market in the region. The Asia-Pacific au-
tomotive actuators market is projected to grow at a CAGR of
10.4 percent from 2015 to 2020.
Europe is a major hub for several OEMs that are known for
delivering high-performance vehicles. However, Eastern Eu-
rope 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 actua-
tors in the region. The European automotive actuators market
is projected to grow at a CAGR of 10.0 percent from 2015 to
2020.
The North American automotive actuators market is dominat-
ed 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 market in the North
American region. Furthermore, several OEMs plan to set up
vehicle production plants in Mexico and Canada, which in turn
Automotive Actuators Market
Worth $13.1 Billion by 2020
