Comprehensive Study on Electric Vehicle Actuator Market 2020 Industry Demand, Business Opportunity, and Recent Development Analysis by Key Players Robert Bosch, Continental, HELLA, Johnson Electric and Stoneridge Inc

According to our latest market study on “Electric Vehicle Actuator Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Hydraulic Actuator, Electric Actuator, and Pneumatic Actuator), Application (HVAC, Headlights, Brakes, Grill Shutter, Mirrors, Hood, Trunk, and Others), and Vehicle Type [Battery Electric Vehicle (BEV), Plug-in Hybrid Vehicle (PHEV), Hybrid Electric Vehicle (HEV), and Fuel Cell Electric Vehicle (FCEV)],” the global electric vehicle actuator market was valued at US$ 585.61 million in 2020 and is expected to reach US$ 1,164.71 million by 2028 with a CAGR of 8.5% during the forecast period.  

The integration of automotive actuators to perform various functions, such as HVAC, braking, throttling, operating the headlight, closures, and electronic clutch actuation in vehicles, is boosting the market growth. With the advancements in technology, automotive manufacturers are investing on integrating advanced systems such as power windows, hood openers, advanced braking systems, and headlights, in the vehicles.

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At present, advanced features such as the adaptive front-lighting system (AFS), adaptive cruise control (ACC), and advanced driver assistance systems (ADAS), are being majorly deployed in modern vehicles, which consist of different actuators to perform unique tasks to comfort the driver as well as passengers. There is an increase in demand for safety features such as telematics, collision avoidance systems, electronic stability control, tire pressure monitors, lane departure warnings, traction control, airbags, and parking assistance, owing to the rising number of road accidents globally. The advanced technological system integrated vehicles can detect and categorize specific objects on the road, alert the driver corresponding to the road conditions, and at times automatically decelerate or stop the vehicle. Thus, technological advancements in the multifunctional system's automotive and production are projected to drive the electric vehicle actuator market.

In terms of geography, the global market was dominated by the APAC region in 2019, which accounted for almost half of the total market share, owing to a higher demand for electric vehicle actuators. Factors such as extensive adoption of premium cars, sedans, and SUVs among the APAC population contribute significantly to the region’s significant market share. Further, the manufacturers of the electric vehicle actuator market are demanding the integration of electric vehicle actuators in the cars to meet the emerging requirement from the customers. Moreover, escalating automotive manufacturing operations, rising demand for electric vehicles, and growing focus of the electric vehicle actuators manufacturers toward offering low-cost and high-efficiency products are expected to drive the electric vehicle actuators market in the Rest of APAC countries during the forecast period.

Impact of COVID-19 Pandemic on Electric Vehicle Actuator Market

The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of electronics equipment, including the hardware component of electric vehicle actuators. The emergence of the COVID-19 virus across the globe, followed by lockdown scenarios has led the industry experts to analyze that the industry would face at least a quarter of lag in the electronics equipment supply chain. This disruption is expected to create tremors through till mid-2021. The electronics equipment and automotive industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily in order to revive the economy. The production of electronics equipment and automotive is anticipated to gain pace from 2021 which is further foreseen to positively influence the electronics equipment and automotive manufacturing, including hardware components of electric vehicle actuators.

Escalating Adoption of Fuel-Efficient Vehicles

Increasing demand for electronically advanced systems in vehicles is one of the major drivers for the market. Moreover, the rising production of vehicles and growing preference for a smooth driving experience and high comfort are boosting the demand for different types of actuators. Currently, most of light-duty vehicles are well equipped with mechanical or electric actuators. Their diesel engines consume 10–20% less fuel as they have more efficient engine operations, whereas hybrid vehicles powered with gasoline have lower fuel consumption. The hybrid vehicle engine operates to its peak efficiency as well as accommodates an amount of energy from regenerative braking, which is triggered with the help of actuators. Electric vehicles (EVs) have the lowest energy consumption as they operate through the battery that uses electric motors with intrinsically higher efficiency compared to internal combustion engines. Several manufacturers worldwide are focusing on ensuring the EU fleet regulations to limit the average CO2 emissions per km by 2030, as penalties would be issued for noncompliance. The selling of EVs offers the original equipment manufacturers (OEMs) the opportunity to meet their targets with extra credits and make compliance easier by reducing the limit’s stringency up to 5%.

Company Profiles

1. Robert Bosch GMBH
2. Continental AG
3. HELLA GMBH AND CO. KGAA
4. Johnson Electric
5. Stoneridge Inc
6. Hitachi Automotive Systems, LTD.
7. Borgwarner INC.
8. Mahle GMBH
9. Mitsubishi Electric Corporation
10. Nidec Corporation

The Electric Vehicle Actuator Market Company Profiles are individually represented for all major participants and indices such as Financial Performance, Strategic Initiatives, Product Portfolio & Company Overview.

The report segments the global electric vehicle actuator market as follows:

By Type

- Hydraulic Actuator
- Electric Actuator
- Pneumatic Actuator

By Application

- HVAC
- Headlights
- Brakes
- Grill Shutter
- Mirrors
- Hood
- Trunk
- Others

By Vehicle Type

- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Fuel Cell Electric Vehicle (FCEV)

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The Electric Vehicle Actuator Market research study is designed to keep in focus all the major countries. Although all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries that are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.

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