Automotive Electric Actuator Market to Perceive Substantial Growth during 2027
According to the report, the global automotive electric actuator market is projected to surpass US$ 11.7 Bn by 2027, expanding at a CAGR of ~6% during the forecast period. Expansion of the global automotive electric actuator market is primarily due to rising investment by manufacturers for the incorporation of safety features in their vehicles and change in regulatory norms for traffic safety and vehicle emission. The automotive industry has been witnessing a technological revolution in the last decade. Development and innovation in automotive actuators in conjunction with electronic components, such as microcontrollers (MCU), and their application in vehicles have revolutionized conventional vehicle technology, which in turn is responsible for a significant rise in the application of automotive electric actuators. For instance, electric actuators are utilized in vehicles to control various applications, ranging from basic functions such as open...