Automotive Lighting Actuator Market is Estimated to Grow at a CAGR of 8.9% during 2019 – 2026, Says Accurize Market Research
Global Automotive Lighting Actuator Market Report, published by Accurize Market Research, forecast that the global market is expected to grow at a CAGR of 8.9% from 2019 to 2026. In terms of growth, Asia-Pacific is anticipated to attain the fastest compound annual growth rate (CAGR) during 2019 – 2026.
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Market Introduction and Market Dynamics
High growth in automotive industry and increased manufacturing activities are the major factors fueling the growth of automotive lighting actuator market. As per the study, around 96 million vehicles were produced in 2018 and is expected to reach around 110.9 million by 2023. Hence, the increasing vehicle productivity will also support the growth of the market in the coming years. The development of advanced and cost-effective actuators would generate new growth opportunities for the market in the future years.
Market Segmentation and Crisp Analysis
The global automotive lighting actuator market has been segmented into type, application, and geography. Linear actuators and rotary actuators are the further classifications of the type segment. By application, the market is divided into heavy commercial vehicles, light commercial vehicles, and passenger cars. By geography, the market is classified into North America, Europe, Asia Pacific, and Rest of the World (RoW). The countries covered under North America are the U.S., Canada, and Mexico. Europe includes UK, Germany, France, Italy, and Rest of Europe. The Asia-Pacific countries covered in the report are China, Japan, India, Korea, and Rest of Asia-Pacific. Rest of the world includes Central & South America, the Middle East, and Africa. North America dominated the global automotive lighting actuator market in 2018 and expected to continue its dominance during the forecast period 2019 – 2026.
Manufacturers Competitive Analysis
Key players are offering innovative products and services to gain consumer attraction and increase their market presence. The market is moderately concentrated as the dominant players occupy most of the global market share of the automotive lighting actuator market. Major key players operating in the global automotive lighting actuator market are DENSO CORPORATION, Dover Flexo Electronics, Inc., Johnson Electric, Continential AG, Delphi Automotive LLP, Actus Manufacturing, Inc, Thermotion, LLC, Precision Motors German Minebea GmbH, HOERBIGER AMERICA HOLDING, INC, HELLA KGaA Hueck & Co., and Mitsubishi Electric Corporation, among others.
Scope of the Report
The scope of the report covers in-depth analysis of the market in terms of both qualitative and quantitative analysis across the segments as well as cross-sectional analysis of the segments including the geographies and its countries. Key companies operating in this market and their company profile along with the market share analysis and competitive scenario is also the part of the report. Furthermore, different industries clients’ information has been provided in the report which is very important for the manufacturers. Manufacturers’ data, including: revenue, shipment, revenue share, shipment share, and gross profit have been also included, which provide better understanding of the market competition.
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