The global automotive industry is experiencing continuous growth, marked by significant shifts in the global economy. Countries like China, India, Thailand, and Indonesia are emerging as key manufacturing hubs for major players in the automotive sector. This transformation is reshaping the industry landscape, with a notable increase in vehicle sales over the years.
The global vehicle sales reached almost 90 million units, setting the stage for further expansion. Projections indicate that this upward trend is set to continue, with expectations of surpassing 100 million units by the year 2023. Several factors contribute to this sustained growth, including macroeconomic development and the expanding global middle class.
One key driver of the increased vehicle sales is the macroeconomic development witnessed in various regions. As major economies experience shifts and advancements, the automotive industry reaps the benefits. The evolving economic landscape has led to the identification of new manufacturing hubs, with China, India, Thailand, and Indonesia emerging as prominent players in the production of automobiles.
Furthermore, the rise of the global middle class has played a pivotal role in boosting vehicle sales. With an expanding middle-class consumer base worldwide, there is an increased demand for automobiles. This demographic shift is significant, as it signifies a growing purchasing power and changing consumer preferences. As more individuals enter the middle-class bracket, the desire for personal transportation has become a driving force behind the escalating demand for vehicles.
According to data from the International Organization of Motor Vehicle Manufacturers (OICA), the sales of new vehicles have exhibited a consistent upward trajectory during forecast.
As the automotive industry continues to evolve, manufacturers are strategically positioning themselves to capitalize on the opportunities presented by these emerging markets. The shift in production hubs to countries like China and India reflects a strategic response to changing consumer demands and economic realities. Manufacturers are increasingly focusing on these regions not only for production but also for tapping into the growing consumer base.
The global automotive industry is in a phase of continuous growth, driven by economic shifts and the rise of the global middle class. The transition of manufacturing hubs to emerging countries and the steady increase in vehicle sales highlight the industry's adaptability and resilience. As we move towards 2023, the automotive sector is poised to surpass the 100 million unit mark, signaling a promising future for manufacturers and stakeholders in the ever-evolving automotive landsca
Report Attribute/Metric | Details |
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Market Opportunities | Upgrade 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 |
Market Dynamics | Growing 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:
Based on motion:
Based on application:
Based on the region:
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