GLOBAL ENGINE ACTUATORS MARKET ANALYSIS

Regional Analysis

Global Engine Actuators Market: Regional Insights

Asia Pacific is expected to witness significant growth in the market over the forecast period. The emerging economies such as India and China are the growth engines of the market in this region. Increasing sales of both passenger and commercial vehicles is one of the major factors driving growth of the global engine actuators market in these economies. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the total number of passenger cars sold in India was 2.9 million units in 2016 and it increased up to 3.2 million units in 2017. The total number of commercial vehicles sold in India was 702,640 units in 2016 and it increased up to 789,838 units in 2017. Moreover, establishment of production facilities in these regions by the major automobile industry participants including General Motors, Daimler, and Volkswagen are expected to fuel engine actuators market growth. For instance, in March 2017, Volkswagen, German automaker started the production facilities of SUV Tiguan in India at the Aurangabad plant. Original Equipment Manufacturers (OEMs) are increasing production capacity in the emerging economies such as India and China to meet growing demand for vehicles in the region, which will fuel growth of the market in this region.