The South Korea automotive pneumatic actuators market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4% during 2023–2031.The growth of the market is attributed to the increasing demand for fuel-efficient vehicles and advanced driver assistance systems, especially braking and acceleration systems such as adaptive cruise control.
Actuators are devices that convert energy into motion, and are mainly used to move or control machines and systems. The actuator is powered by an external power source, usually electric current, hydraulic fluid pressure or air pressure, and then converts it into motion. They perform two main motions: linear motion and rotary motion. They come in various types, sizes, and power configurations, depending on the application in which they are used. The actuators are mechanical component that can convert any form of energy
in a moving vehicle. It is a component that uses the energy generated by air, electricity, and fluids and converts it into motion. The actuator converts the electrical signal from the central control unit into actual actions. It helps to adjust the flywheel rotation, engine idle speed and torque, thereby improving the performance and efficiency of the engine. In the hydraulic actuator, hydraulic motors use hydraulic power to complete mechanical operations, realizes oscillating, linear or rotational movement.
Pneumatic actuators are in great demand because of their ability to transform force. The system is essential for quick response during start and stop.
The Covid-19 pandemic affected the demand and supply of South Korea automotive pneumatic 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
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Growing demand for fuel-efficient vehicles is expected to boost the market during the forecast period.
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Rapid growth of the automotive industry owing to increasing production and sales of commercial vehicles is major factors fueling the market in the coming years.
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Rising consumer awareness and disposable income is creating demand for vehicles with advanced technologies.
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High maintenance cost of pneumatic actuator and adoption of electric vehicles is projected to hamper the market growth.
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Stringent regulation by government on environmental effects and initiatives for awareness of electric vehicles act as major challenges that can restrict the market growth during the forecast period.
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R&D investment and development for electric actuators due to adoption of electric vehicles and advancement in pneumatic actuator to prevent leakages is expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the South Korea automotive pneumatic 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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South Korea Automotive Pneumatic Actuator Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Application Types (Brake Actuators, Throttle Actuators, Fuel Injection Actuators, and Others), and Vehicle Types (Passenger Cars and Commercial Vehicles)
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Geography
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South Korea
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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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Emerson Electric Co.; Denso Corp.; Bosh Rexroth AG; SMC Corporation of America; and Nidec Corp.
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Market Segment Insights
The throttle actuators segment is projected to hold a major market share
On the basis of application types, the South Korea automotive pneumatic actuators market is segregated into brake actuators, fuel injection actuators, throttle actuators, and others. The throttle actuators segment is anticipated to represent a key share of the market during the forecast period. Standard diesel engines use sophisticated fuel control structures, which includes incorporated throttle control units. These engines are popular because of their better efficiency, higher functions, better operational protection, and decrease carbon dioxide emissions.
The advanced throttle actuator permits the controller to be incorporated with different automobile functions. These structures in the SUV permit you to control the engine velocity for smooth driving on extraordinary terrains. Throttle actuator machine failure occurs in numerous instances which includes vehicle injuries because of sensor failures. The excessive resistance of the motive force to acceleration can also additionally purpose the throttle actuator to jam.
The passenger cars segment is expected to expand at a rapid pace
Based on vehicle types, the market is bifurcated into passenger cars and commercial vehicles. The passenger cars segment is expected to hold a key share of the market during the forecast period owing to several technological advances in the automobile market have a direct impact on the electric power system of automobiles. The government and other regulatory agencies pay more attention to vehicle safety regulations. Therefore, automakers are installing safety systems in their vehicles, which are projected to drive the market.
Applications such as doors and sunroofs are the driving force for market research and development. The electric actuators are built into most passenger and luxury cars. They emit less heat, less noise, and provide improved design and installation flexibility. Progressive circuit diagrams and well-thought-out software make the operation of the drive easier. Electric actuators are widely used in electric window regulators, electric tailgates, seat adjusters, and sunroof actuators. The need for functions that improve passenger comfort has also become a necessary factor for leading manufacturers to stand out in the ever-evolving industry.
Segments
Application Types
- Throttle Actuator
- Fuel Injection Actuator
- Brake Actuator
- Others
Vehicle Types
- Passenger Cars
- Commercial Vehicles
Key Players
- Emerson Electric Co.
- Denso Corp.
- Bosh Rexroth AG
- SMC Corporation of America
- Nidec Corp.
Competitive Landscape
Key players competing in the South Korea automotive pneumatic actuator market include Emerson Electric Co.; Denso Corp.; Bosh Rexroth AG; SMC Corporation of America; and Nidec Corp.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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