Automotive Torque Actuator Motor Market worth USD 14.9 Bn by 2031- Mitsuba, HIWIN, CTS, Johnson Electric

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 17, 2024 /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 size1 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 industry2.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/A31414

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.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By distribution channel, the aftermarket segment is expected to register a significant growth during the forecast period.
By application, the electronic throttle control (ETC)segment is projected to lead the global automotive torque actuator motor market
By vehicle type, the passenger car segment is projected to lead the global automotive torque actuator motor market
By type, the electrical component segment is projected to lead the global automotive torque actuator motor market
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/A31414

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,
Val-Matic Valve & Mfg. Corporation.

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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Allied Market Research
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