Market Trends of South Korea Automotive Electric Actuators Industry
This section covers the major market trends shaping the South Korea Automotive Electric Actuators Market according to our research experts:
Rising Demand for Fuel-Efficient Vehicles Will Help the Actuators Market to Grow
Although, in 2019, the growth of passenger and commercial vehicle sales has reduced. But OEMs are still making electric actuators one of the main areas of focus to improve passengers' safety and comfort. As a part of that effort, electric actuators have also gained significant attention in recent years.
The electric actuators market has evolved from a working mechanic application to a fully automotive. Factors such as increasing fuel efficiency rules in South Korea are resulting in consumer awareness to use automobiles, which give a higher performance for the same fuel efficiency.
The electric engine actuator products, maximize the potential of modern engine management, offering consistency and improved performance, thus reducing CO2 emissions from vehicles of all classes. As a result, electric automotive actuators will experience a higher deployment in various automotive applications.
The increasing demand for fuel-efficient vehicles, along with the rising demand for advanced electric actuator products, among the buyers, is compelling the major manufacturers to invest in R&D activities. The sales of luxury cars in South Korea have gone up, which will have a positive impact on the Automotive Electric Actuators Market.
Luxury cars Will Drive the Demand for Electric Actuators
Many technological advancements have been done in the automotive market field, which has had a direct impact on the automotive electric actuators, which is witnessing newer challenges and developments. There is an increased focus on vehicle safety regulations mandated by the government and other regulatory authorities. As a result, automakers install safety systems in their vehicles, driving the automotive electric actuators market.
Increasing demand for comfort systems luxury vehicles is attributed to a rise in the need for haste free and comfortable ride. As a result, driving the market for functional components in the vehicle ranging from Throttle Actuator, Brake Actuator, Closure Actuator (Window, Door, and Sunroof), and Other Application Types are driving towards the research and development of the market.
The electrical actuators are equipped in most of the luxury vehicles. They emit lesser heat, lower noise emission, offer an improved design and offer flexible installation options. Additionally, since they run on battery, they can deliver higher torque while being compact and lightweight, making it an optimum choice over the regular actuators. Advanced electrical circuiting and also well-designed software make actuators easier to operate. Electric actuators are widely used in window lifts, power tailgate drive, seat adjustment, and sunroof drive.
There is also a growing demand for features offering better comfort to the passengers, which has become a necessary factor for top manufacturers to differentiate to each in the growing actuators industry. As a result, OEMs invest heavily in enhancing the driving and passenger experience by proving the best actuators in its luxury vehicles.
