Automotive Torque Actuator Motor Market Share, Trends, Size
WILMINGTON, DELAWARE, UNITED STATES, September 21, 2023/EINPresswire.com/ — The rise in demand for commercial vehicles in developing nations owing to urbanization and increased industrial production is anticipated to exhibit remarkable growth in the coming years. For instance, the commercial vehicle segment in the Indian automotive industry experienced an extraordinary growth rate in both light commercial as well as medium & heavy commercial vehicle segments. Commercial vehicles are mostly rear-wheel-drive vehicles, which require high-performance differential assemblies to perform driving operations. Emerging players and automotive torque actuator motor market leaders operating in different industries across the developing countries namely e-commerce, the food industry, and others have increased the demand for delivery and transport solutions, thereby further driving the production of heavy commercial vehicles. The commercial vehicle requires durable torque actuator motor which provides enhanced Turbocharger power.
The automotive torque actuator motor market size was valued at $8.9 billion in 2021, and is estimated to reach $14.9 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭@ https://www.alliedmarketresearch.com/automotive-torque-actuator-motor-market/purchase-options
In 2021, Asia-Pacific region dominated the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the automotive torque actuator motor market in 2021. The rapid growth of the automobile sector across all segments along with growing customer inclination toward advancements of the fuel-efficient vehicles propels the growth of the market.
The prominent key factors that drive the growth of the global automotive torque actuator motor market are increase in vehicle production in developing countries, and increase in demand for engine performance and fuel efficiency. The market economy is also responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are developing economies. Thus, the manufacturing sector witnessed prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the automotive industry which in turn is expected fuel the market. In addition, in some undeveloped countries, there is an increase in the production and sales of vehicles, which is expected to boost the automotive torque actuator motor industry.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/31864
The automotive torque actuator motor industry is segmented on the basis of distribution channel, application, vehicle type, type, and region. On the basis of distribution channel, it is bifurcated into OEM and aftermarket. By application, it is categorized into turbocharger, electronic throttle control (ETC), exhaust gas circulation (EGR), and others. By vehicle type, it is classified into passenger car, light commercial vehicle, and heavy commercial vehicle. By type, it is fragmented into electrical, pneumatic, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in this automotive torque actuator motor market are Bray International, Continental AG, CTS Corporation, Electrocraft, Inc., Emerson Electric Co., HIWIN Technologies Corp., Igarashi Motors India Limited, Johnson Electric, Mabuchi Motor Co., ltd., Mitsuba Corporation, NSK, Rheinmetall, Siko-Global, Sonceboz, and Val-Matic Valve & Mfg. Corporation.
𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/31864
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