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. 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.
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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.
The proposed Electric Vehicle Actuator Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes a detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.
The Electric Vehicle Actuator Market sample report includes an exclusive analysis of the COVID-19 pandemic on the market space under scrutiny. The sample represents the format of the overall study which is designed to provide clarity on the structure of the report and some data points demonstrated in an attempt to provide insights into the study quality.
Furthermore, the Electric Vehicle Actuator Market full research study is designed on account of the fact that each segment is individually assessed and then collated to form the whole market, the study can be tailor-made to fit your exact requirements.
The Structure of The Electric Vehicle Actuator Market Report Can Be Categorized into the Following Sections:
Section 1: Scope of the Report & Research Methodology
Section 2: Key Takeaways
Section 3: Market variables & their impact on growth and analytical tools providing High-Level Insights into the Market Dynamics and Growth Pattern
Section 4: Market Estimates and Forecasts (with the base year as 2019, historic information of 2016 & 2018 and forecast from 2020 to 2027). Regional and Country Level Estimates and Forecasts for each category are summed up to form the Global Market.
Section 5: Competitive Landscape. Attributes such as Strategy Framework, Competitor Categorization are included to provide elaborate details on the Market Structure & Strategic Undertakings as well as their impact.
The Prominent/Emerging Players In The Electric Vehicle Actuator Market Research Include:
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.
Company overview provides information about the location of the company where it is headquartered along with the established year, employee strength as of 2017, regions where the company is operating and the key business areas.
Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the subtitle “Financial Performance” (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (SBUs) and others.
Product benchmarking comprises the comprehensive list of products pertaining to therespective market along with the application and key features.
Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in the market are covered under the strategic initiatives section.
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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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