The Mexico automotive actuators market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, increasing overall efficiency & productivity for enterprises, and increasing demand for advance actuator product.
Most of the new vehicles are equipped with electrical actuators. They offer flexible design, installation options, emit less heat, and reduce noise emission. They are lightweight, compact, and deliver high torque due to this; customers are making optimum choice over regulators actuators. In sunroof drive, window lifts, seat adjustment, and power tailgate drive the electric actuators are widely used.
The Covid-19 pandemic affected the demand and supply of Mexico automotive actuators market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing use of automotive actuators in passenger car is projected to boost the market.
- Rising need for cabin comfort & quality rides is the major factor fueling the market.
- Lack of awareness about the automotive actuators is projected to restrict the market expansion during the forecast period.
- High price of automotive actuators is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in automotive actuators market is projected to offer lucrative opportunities for the market players.
Scope of Automotive Actuators Market Report
The report on the Mexico automotive actuators market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mexico Automotive Actuators Market–Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Vehicle Types (Commercial Vehicle, Passenger Car, and Others), Actuators Types (Pneumatic Actuators, Electrical Actuators, and Hydraulic Actuators), Application Types (Brake Actuator, Closure Actuator, Throttle Actuator, Seat Adjustment Actuator, and Others)
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Country Scope
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Mexico
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Hitachi Ltd.; BorgWarner Inc; Stoneridge Inc.; Aptiv PLC; Denso Corp.; Nidec Corp.; Robert Bosch GmbH; Mitsubishi Electric; Continental AG; and Johnson Electric Holdings Ltd.
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Automotive Actuators Market Segment Insights
The passenger car segment accounts for key share of the market
Based on vehicle types, the Mexico automotive actuators market is fragmented into commercial vehicle, passenger car, and others. The passenger car segment accounts for a key share of the market. Growth of the market is attributed to rising industrialization and increasing awareness among consumers about automobile sector. However, the commercial vehicle segment is anticipated to expand at a rapid pace during the forecast period due to rapid expansion in development & research, increasing per capita income, and rising demand for high performance fuel efficiency engine.
The electric actuators segment is anticipated to hold significant market share
On the basis of actuators types, the market is divided into pneumatic actuators, electrical actuators, and hydraulic actuators. The electric actuators segment accounts for a significant share of the market. Growth of the market is attributed to increased demand for commercial vehicles and rapid technological advancement in industrial development & infrastructure. The hydraulic actuators segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising investment by government & private sectors, rapidly growing population, and increasing demand for luxury vehicles & safety features.
The throttle actuator segment accounts for key share of the market
Based on application types, the Mexico automotive actuators market is segregated into brake actuator, closure actuator, throttle actuator, seat adjustment actuator, and others. The throttle actuator segment accounts for a key share of the market. Growth of the market is attributed to rapid economic growth and consumers installing latest technology products in the car. However, the commercial vehicle segment is anticipated to expand at a rapid pace during the forecast period due to increasing rules for fuel efficiency in Mexico, presence of major market players, and rapid industrialization.
The Mexico automotive actuators market is anticipated to expand at a high CAGR during the forecast period due increasing use of automotive actuators in passenger car and rising need for cabin comfort & quality rides. Growth of the market is attributed to introduction of technological and novel advanced product and increasing per capita income.
Segments
The Mexico automotive actuators market has been segmented on the basis of
Vehicle Types
- Commercial Vehicle
- Passenger Car
- Others
Actuators Types
- Pneumatic Actuators
- Electrical Actuators
- Hydraulic Actuators
Application Types
- Brake Actuator
- Closure Actuator
- Throttle Actuator
- Seat Adjustment Actuator
- Others
Country
Key Players
- Hitachi Ltd.
- BorgWarner Inc
- Stoneridge Inc.
- Aptiv PLC
- Denso Corp.
- Nidec Corp.
- Robert Bosch GmbH
- Mitsubishi Electric
- Continental AG
- Johnson Electric Holdings Ltd.
Competitive Landscape
Key players competing in the Mexico automotive actuators market include Hitachi Ltd.; BorgWarner Inc; Stoneridge Inc.; Aptiv PLC; Denso Corp.; Nidec Corp.; Robert Bosch GmbH; Mitsubishi Electric; Continental AG; and Johnson Electric Holdings Ltd.
Some of these players are using several market strategies such as collaborations, acquisitions, partnerships, merger, product launches, and capacity expansion to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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