The Electric Wastegate Actuator Market is estimated to substantiate, i.e. grow at a handsome rate In Upcoming Years. The present-day scenario implies the adoption of smarter ways to do business. As such, digital acceleration is inevitable. IT is known to aid customers with better sustenance by maximizing production, asset, and supply chain performance. A multitude of collaborations could be improved upon by digitization acting as a catalyst. This would be the trend catching up in the forecast period.
Wastegate in an automobile refers to the turbine wheel bypass on a turbocharger. Electric Wastegate Actuator is used to control the supercharged pressure of turbo charger by adjusting the opening of wastegate valve. Electric wastegate actuator gained popularity as a substitute to pneumatic waste gate actuator. As a replacement product of pneumatic Wastegate actuator, electric wastegate actuator enable faster and more precise control of the combustion engine.
In the effort to reduce CO2 emission, manufactures are focused on downsizing of engine involving reduction of engine displacement by turbocharger or supercharger. In such systems, electric wastegate actuator is considered to play a vital role in controlling the supercharged pressure of turbocharger and preventing the turbocharger from over speeding and resulting in serious damages.
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Owing to its several benefits and importance, the demand for electric wastegate actuator is estimated to witness considerable growth across the globe. This in turn may positively impact the global electric wastegate actuator market during the forecast period.
Sales of electric wastegate actuator is directly dependent on the production and sales of automotive. Growing automotive industry particularly in the developing regions is estimated to be the primary growth driver for the global electric wastegate actuator market during the forecast period.
Growing advancement and innovation in technology in the automotive industry is also considered to propel the demand for efficient electric wastegate actuator across the globe. This in turn is estimated to be a key factor contributing to the growth of global electric wastegate actuator market during the forecast period.
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Increasing demand for downsizing of engines by the use of turbocharger in order to reduce fuel consumption, subsequently the CO2 emission is also one of the key factor fueling the demand for electric wastegate actuators thus significantly contributing to the global electric wastegate actuator market.
Electric wastegate actuator also find its application in aircrafts engines and off highway heavy duty equipment. Growing number of air passengers is directly correlated to increasing demand for new aircrafts which subsequently increase the demand for efficient electric wastegate actuator.
On a similar note, growing construction activities with execution of several infrastructure development projects is estimated to drive the demand for construction equipment. This in turn may flourish the growth of global electric wastegate actuator market during the forecast period.
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Electric Wastegate Actuator Market: Segment
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Automotive production is estimated to be higher in emerging countries as compared to that in developed countries. This can mainly be attributed to the increasing urbanization and stable economic conditions in these regions. On road vehicle fleet is also expected to rise at a modest CAGR during the forecast period, thus providing noteworthy opportunities in the growth of automotive aftermarket.
This in turn may result in generating bright opportunities in the electric wastegate actuator market. Increasing stringent regulations concerning CO2 emission particularly in the developed regions such as North America and Europe is estimated to fuel the demand of electric wastegate actuator during the forecast period.
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Examples of some of the market participants identified across the value chain of the global Electric Wastegate Actuator market include:
- Continental AG
- MAHLE GmbH
- Stoneridge, Inc.
- Rheinmetall Automotive AG
- Mitsubishi Electric Corporation
- Turbosmart
- Woodward, Inc
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