Report ID: SQMIG25A2162
Report ID:
SQMIG25A2162 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Asia-Pacific has benefited from the region's marked increase in market share for automotive actuators because of rapid urbanization, rising disposable incomes, and a rapidly expanding automotive industry. China, Japan, and South Korea lead the charge in transforming the region into a global hub for automotive innovation and production. With local car makers investing more in cutting-edge technology such as electric mobility and vehicle safety, Asia Pacific became one of the major players in the automobile manufacturing industry in 2024. Government programs focusing on the use of EVs and the development of safer, more intelligent automobiles are driving up the demand for automotive actuators, which play an important role in many systems-from powertrains to brakes, and safety features.
However, the automotive actuators market in Europe is widening at a vast pace due to several reasons such as the broadly established automotive manufacturing base through strict laws on pollution along with increasing demand for electric vehicles. Use of actuators became imperative owing to various working conditions in the EV availed by engine control, battery management, or electronic stability control for ambitious sustainability goals in Europe's nation. Actuator systems generally optimize their performance towards energy efficiency and safety systems in addition to environmental compliance. The European market is strengthened by its increasing focus on innovation and active restrictions on carbon emissions which increase the demand for sophisticated actuators in the automobile industry.
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Report ID: SQMIG25A2162