The worldwide automotive turbocharger market has experienced considerable growth, driven by evolving trends in vehicle design that prioritize lighter structures, improved fuel efficiency, and reduced fuel emissions, as mandated by government regulations. This shift towards more sustainable and eco-friendly automotive solutions has been a key factor propelling the market forward.
However, despite the positive trajectory, the industry faces challenges, primarily stemming from the higher capital investment required for automotive turbochargers compared to traditional alternatives. This cost disparity acts as a hurdle, creating significant entry barriers for new players entering the market. The expensive nature of these turbochargers can potentially impede the growth of the automotive turbocharger market, posing a challenge that needs to be addressed.
The entry barriers for new players are expected to have a noteworthy impact on the market dynamics. The substantial capital investment required to establish a foothold in the automotive turbocharger segment may deter potential entrants. This aspect, in turn, could limit the competitiveness of the market and potentially slow down its overall growth rate.
Looking ahead, the global automotive turbocharger market is poised for significant expansion in the coming years. Analysts at MRFR (Market Research Future) predict robust growth within the automotive industry, fueled by a combination of factors. The surge in sales of passenger cars, coupled with ongoing technological innovations, is expected to act as a catalyst for the market's accelerated development.
One of the driving forces behind the anticipated growth is the increasing demand for passenger cars worldwide. As economies continue to develop, there is a rising affluence and a subsequent surge in the purchasing power of consumers. This has led to an uptick in the sales of passenger cars, which, in turn, boosts the demand for automotive turbochargers. These devices play a crucial role in enhancing the performance and fuel efficiency of internal combustion engines, aligning with the growing emphasis on sustainability in the automotive sector.
Additionally, technological innovations in the automotive turbocharger space contribute significantly to market expansion. Ongoing research and development efforts aim to enhance the efficiency and capabilities of these devices, making them more appealing to both manufacturers and consumers. As turbocharger technology evolves, it is likely to address some of the cost-related concerns, potentially mitigating the entry barriers faced by new players.
While the automotive turbocharger market faces challenges associated with higher capital investment and entry barriers, the overall outlook remains optimistic. The market is expected to capitalize on the changing landscape of the automotive industry, driven by government regulations, increased sales of passenger cars, and ongoing technological advancements. As these factors continue to shape the market, stakeholders in the automotive turbocharger segment must navigate challenges strategically to unlock the full growth potential of this dynamic and evolving industry.
Report Attribute/Metric | Details |
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Market Size Value In 2023 | USD XX Billion |
Growth Rate | 6.3% (2023-2032)Base Year2022Market Forecast Period2023-2032Historical Data2018- 2022Market Forecast UnitsValue (USD Billion)Report CoverageRevenue Forecast, Market Competitive Landscape, Growth Factors, and TrendsSegments Covered Type, Motion Output, ApplicationGeographies CoveredNorth America, Europe, Asia Pacific, and the Rest of the WorldCountries CoveredThe US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and BrazilKey Companies ProfiledCTS (U.S.), Johnson Electric (Hong Kong), Mitsuba (India), Rheinmetall (Germany), Bray (U.S.), NSK (Japan), Electrocraft (U.S.), Siko-Global (Germany), Valmatic (U.S.), and HIWIN (U.S.)Key Market OpportunitiesUpgrade of manufacturing technology and increase in engine downsizing. · An increase in investment for research and development for better effective engine output will enhance opportunities. · Increased requirements for fuel efficiency and strict regulation regarding bad fuel emissionKey Market DynamicsGrowing demand for fuel efficiency, minimized carbon efficiency and low engine. · Growing in demand for automobile components |
The Automotive Torque Actuator Motor Market is projected to grow from USD 8247.14 Million in 2021 to USD 14178.1 Million by 2032, exhibiting a compound annual growth rate (CAGR) 6.3% during the forecast period (2023 - 2032).
Automobile torque actuator motors (TAM) are made up of direct current (DC) motors with electronic throttle control (ETC), turbochargers, and exhaust gas recirculation (EGR). DC motors are utilized in various applications to improve fuel efficiency and lower pollutants. The automotive actuator torque motor is used in cars for direct drive mechanisms, and geared electric motors are utilized as a substitute in some situations. It is generally utilized to upgrade the machine production process from manual to semi-automated or complete automation.
The market's key driving factors are the advancement of manufacturing technologies and the growth in engine downsizing. Growing demand for fuel economy, reduced carbon footprint, and low engine load will provide chances for new entrants to provide a superior solution and capture the lion's share of income. Furthermore, increased investment in R&D for more efficient engine output would create prospects for manufacturers. System upgrades will be the most difficult hurdle for manufacturers. However, higher fuel economy requirements and tight regulation over poor fuel emissions may stymie industry expansion in many regions. In automobiles, the automotive actuator torque motor is utilized for direct drive mechanisms, and in certain cases, a geared electric motor is employed as a substitute. It is mostly utilized to transform the machine production process from manual to semi-automatic or completely automated.
This report contains all the information on the global automotive torque actuator motor market growth and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global automotive torque actuator motor market outlook and forecast for 2027 is also included in the report.
Mergers and acquisitions are being pursued by key businesses in order to improve their market position. Because of increased rivalry, market innovations occur on a regular basis.
The Automotive Torque Actuator Motors market is rapidly approaching pre-COVID levels, and a robust growth rate is projected during the projection period, fueled by economic recovery in the majority of emerging countries. The frequent suspension of public transportation systems, along with the virus's highly infectious nature, increased the need for passenger vehicles, resulting in an increase in demand for Automotive Torque Actuator Motors goods. However, the anticipated third and subsequent waves of the pandemic are generating a bleak picture.
The major drivers of the market are the advancement of manufacturing technologies and the increasing downsizing of engines. Increasing demand for fuel economy decreased carbon efficiency and low engine load will enable new entrants to provide a superior solution while retaining a full share of income.
Furthermore, advancements in automobile motor development will be a critical element in market growth. Alternative motor technologies, including BLDC motors and nanotechnology, are being adopted by market manufacturers as viable replacements for brushed DC motors. BLDC motors are gaining popularity in a variety of sectors and applications due to their numerous benefits.
Increased investment in R&D for more efficient engine output will also provide opportunities for manufacturers.
The most major barrier for manufacturers will be system upgrades. Nonetheless, increasing fuel economy standards and tight controls on dirty fuel emissions may stymie industry development in some areas.
The high production cost of the efficient actuator is a key problem that may create challenges in the market expansion.
More than 120 motors are installed in modern passenger vehicles to handle numerous applications such as headlamp placement, seat adjustment, grill shutter, HVAC systems, and coolant and refrigerant valves, among others. Actuators are critical in activating these applications because they translate an electric signal into the necessary linear and rotational motion to create the requisite physical movement.
With technological developments, autonomous cars are likely to include a variety of actuators to improve safety and comfort. The automotive actuators market is constantly expanding because of the global increase in automobile production and sales (passenger cars, LCVs, HCVs, and off-highway vehicles). Sensors, software programs, controller hardware, and actuators are thought to form the foundation of today's and tomorrow's automotive systems.
BorgWarner announced its latest generation of cam torque actuators, intelligent cam torque actuation (iCTA), in March 2019, offering greater fuel efficiency and lower emissions through revolutionary technology. iCTA combines the benefits of cam torque actuation and torsional assist. A range of vehicles from two major vehicle manufacturers in China and North America will launch with this technology in 2019 and 2020.
According to the reports, The worldwide automotive torque actuator motor market is divided into four categories: type (pneumatic, electric, and mechanical), motion output (linear, rotary, and electric), application (electronic throttle control (ETC), turbocharger, exhaust gas circulation (EGC), and others), and region. The linear segment is projected to account for the majority of the market share. Because they may be utilized in machinery, valves, and other areas where linear motion is necessary, linear actuators are the future of the Automotive torque Actuators industry. The use of linear actuators is increasing as automation and factory automation are coupled with the internet of things.
The market is segmented on the basis of type, motion output, application, and region. The global automotive torque actuator motor market trend is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into electronic throttle control (ETC), turbocharger, exhaust gas circulation (EGC), and others.
Based on the propulsion types, the market is segmented into linear, rotary, and electric.
According to the reports, the worldwide automotive torque actuator motor market has been divided into four key regions: North America, Europe, Asia Pacific, and the Rest of the World. Due to reduced labor costs and improved ease of doing business, Asia Pacific is anticipated to keep the majority of the automotive torque actuator market share over the projection period. The availability of infrastructure facilities, as well as the rising demand for car components, are propelling the industry forward. During the forecast period, China is expected to dominate the Asia Pacific automotive actuator market with the highest revenue share. China is the world's largest car producer, which is projected to be a driving force in the country's expansion of this industry. Furthermore, China has the ability to create automotive components in huge quantities at a reduced cost, giving it a competitive advantage over other countries.
The following report comprises of –
Based on product type:
Based on vehicle type:
Based on on-highway vehicle:
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