US Electric Vehicle Actuator Market Size, Trends and Insights By Type (Hydraulic actuator, Pneumatic actuator, Electric Actuator), By Application (HVAC, Brakes, Headlights, Grill Shutter, Mirrors, Trunk, Hood, Others, Power Windows, Seat adjustment, Steering column adjustment, Others, Window wipers, convertible tops, Transmission System, electric door locks, Sunroof Operations, Seatbelt Tensioners, Adjustable Pedals, Seatback Recliners, Power Trunk or Tailgate Release, Charging Port Doors), By End Use (Battery EV, Hybrid EV, Plug-in-hybrid EV, Fuel Cell EV), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI39370

Published Date: January 2024

Pages: 320+

Category: Automotive

Report Snapshot

CAGR: 9%
141.5M
2022
160.5M
2023
349.6M
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: USA
Largest Market: USA

Major Players

  • Bosch Limited
  • Continental AG
  • Siemens AG
  • HELLA GmbH & Co. KGaA
  • Valeo SA
  • Mitsubishi Electric Corporation
  • Others

Exclusive, in-depth market intelligence can help you increase your Revenue.

Download Sample Pdf

Reports Description

As per the current market research conducted by CMI Team, the US Electric Vehicle Actuator Market is expected to record a CAGR of 9% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 160.5 Million. By 2032, the valuation is anticipated to reach USD 349.6 Million.

The US Electric Vehicle Actuator Market encompasses the industry dedicated to producing, distributing, and innovating actuators designed specifically for electric vehicles (EVs). Actuators play a crucial role in various systems within EVs, including powertrains, steering, and braking systems.

The market is driven by factors such as the increasing adoption of EVs, government incentives promoting sustainable transportation, continuous technological advancements, and collaborative initiatives among industry players.

Key companies actively contribute to advancements, ensuring the seamless integration of high-performance actuators into the rapidly expanding electric vehicle landscape in the United States.

US Electric Vehicle Actuator Market – Significant Growth Factors

The US Electric Vehicle Actuator Market presents significant growth opportunities due to several factors:

  • Government Incentives: Supportive government policies, including tax credits and incentives, encourage both consumers and manufacturers to adopt electric vehicles, driving the demand for advanced electric vehicle actuators in the US.
  • Increasing Consumer Demand for EVs: The rising awareness and demand for environmentally friendly transportation solutions contribute to the growing adoption of electric vehicles, directly impacting the demand for efficient and high-performance electric vehicle actuators.
  • Technological Advancements: Ongoing innovations in electric vehicle technology, including actuator systems, improve efficiency, safety, and overall performance, propelling the US Electric Vehicle Actuator Market forward.
  • Infrastructure Development: The expansion of the electric vehicle charging infrastructure in the US is a key driver. Actuators involved in charging mechanisms play a crucial role, and as the charging network grows, the demand for reliable and efficient actuators increases.
  • Collaborations for Research and Development: Collaborative efforts between industry stakeholders can lead to research and development initiatives, creating opportunities for advancements in electric vehicle actuator technology and fostering innovation.
  • Integration of Smart Technologies: The opportunity lies in integrating smart technologies within electric vehicle actuators, aligning with the growing trend of connected vehicles. Actuator manufacturers can explore opportunities to enhance functionalities, offering innovative solutions that cater to the evolving preferences of US consumers.

US Electric Vehicle Actuator Market – Mergers and Acquisitions

The US Electric Vehicle Actuator Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the US Electric Vehicle Actuator Market include:

  • In 2023, Fisker collaborates with Ample to introduce innovative swappable batteries for the Fisker Ocean EVs by early 2024. This strategic partnership aligns with Fisker’s long-term goals, aiming to enhance scalability and promote wider adoption of its electric vehicles in both the United States and Europe.
  • In 2023, Lucid Motors and Aston Martin formed a long-term strategic technology partnership worth over $450 million. Lucid’s advanced electric vehicle powertrain and battery systems will be integrated and supplied to propel Aston Martin into an electric future, highlighting the significance of Lucid’s world-leading technology in shaping the automotive industry’s electrification landscape.
  • In 2022, Lordstown Motors and Foxconn expand their strategic partnership, emphasizing Lordstown’s role as an original equipment manufacturer (OEM) for electric vehicles. The collaboration centers on the commercial fleet market, with the Endurance all-electric pickup truck being the first vehicle produced at Foxconn’s EV plant in Lordstown, Ohio.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the US Electric Vehicle Actuator Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

US Electric Vehicle Actuator Market North America Electric Vehicle Actuator Market Electric Vehicle Actuator Market
CAGR 9% (Approx) CAGR 9.2% (Approx) CAGR 23% (Approx)
USD 349.6 Million by 2032 USD 453.3 Million by 2032 USD 1400 Million by 2032

US Electric Vehicle Actuator Market – Significant Threats

The US Electric Vehicle Actuator Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Supply Chain Vulnerabilities: The US Electric Vehicle Actuator Market is susceptible to disruptions in the global supply chain. Dependencies on specific regions for raw materials and components pose a threat, as geopolitical tensions, trade disputes, or unforeseen events can impact the availability and cost of essential resources.
  • Intense Competition: The market faces increasing competition as more companies enter the electric vehicle sector. Intense competition can lead to pricing pressures, reduced profit margins, and challenges in maintaining market share for electric vehicle actuator manufacturers.
  • Technological Obsolescence: Rapid advancements in technology pose a threat to existing electric vehicle actuator solutions. Companies must continuously innovate to stay ahead of technological obsolescence, ensuring that their products remain competitive and aligned with evolving industry standards.
  • Regulatory Changes: Changes in US government regulations and standards related to electric vehicles can pose challenges for market players. Shifts in emission targets, safety standards, or other regulatory requirements may necessitate costly modifications to existing electric vehicle actuator designs, impacting both development timelines and costs.
  • Consumer Acceptance and Perception: The success of electric vehicles depends on widespread consumer acceptance. Any negative perceptions or concerns regarding the safety, reliability, or cost-effectiveness of electric vehicle actuators can significantly impact market growth. Building and maintaining consumer trust is crucial for the long-term success of the US Electric Vehicle Actuator Market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 160.5 Million
Projected Market Size in 2032 USD 349.6 Million
Market Size in 2022 USD 141.5 Million
CAGR Growth Rate 9% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Application, End Use and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope US
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type

  • Hydraulic Actuator: Hydraulic actuators in the US Electric Vehicle Actuator Market use fluid pressure to drive mechanical components. Trends include advancements in compact hydraulic systems, enhancing power delivery and efficiency in electric vehicles while ensuring a smooth and responsive driving experience.
  • Pneumatic Actuator: Pneumatic actuators utilize compressed air to control mechanical movements. In the US Electric Vehicle Actuator Market, trends involve lightweight and energy-efficient pneumatic systems, contributing to improved overall vehicle performance and efficiency.
  • Electric Actuator: Electric actuators rely on electrical power for operation, featuring precise control and responsiveness. In the US Electric Vehicle Actuator Market, trends focus on advancements in electric actuator technology, such as integrated sensors and smart control systems, optimizing performance and meet evolving industry standards.

US Electric Vehicle Actuator Market 2023–2032 (By Million)

www.custommarketinsight.com

By Application

  • HVAC (Heating, Ventilation, and Air Conditioning): Actuators in HVAC systems regulate climate control, optimizing energy usage for thermal comfort. Trends include smart HVAC integration, allowing efficient temperature management, and contributing to energy-efficient electric vehicles in the US.
  • Brakes: Actuators in brakes control braking systems, ensuring safety. Trends include regenerative braking technology, enhancing energy recovery and increasing overall braking efficiency for electric vehicles.
  • Headlights: Electric vehicle actuators control adaptive headlights, optimizing illumination. Trends include advanced adaptive lighting systems in the US, improving visibility and safety for EV users.
  • Grill Shutter: Actuators manage grill shutters, optimizing airflow and improving aerodynamics for electric vehicles in the US Trends involve smart shutter control, enhancing efficiency and contributing to increased range and energy savings.
  • Mirrors: Electric vehicle actuators control side mirrors, contributing to aerodynamics and visibility. Trends in the US focus on the integration of camera-based systems, reducing drag and enhancing overall vehicle efficiency.
  • Trunk: Actuators in the trunk facilitate automated opening and closing, providing convenience for electric vehicle users in the US Trends include sensor-based systems for hands-free operation, enhancing user experience and ease of access.
  • Hood: Electric vehicle actuators control hood mechanisms, ensuring proper opening and closing. Trends involve lightweight materials and aerodynamic designs, contributing to energy efficiency and improved performance in the US.
  • Others: Actuators in various applications include powertrain systems, steering, and suspension. Trends involve continuous innovations in actuators to meet diverse electric vehicle needs, driving advancements in the US Electric Vehicle Actuator Market.

By End Use

  • Battery Electric Vehicle (BEV): BEVs are fully electric vehicles powered solely by rechargeable batteries. The US Electric Vehicle Actuator Market for BEVs is driven by increasing demand for zero-emission vehicles, with trends focusing on enhanced battery efficiency and the development of high-performance actuators for improved electric vehicle dynamics.
  • Hybrid Electric Vehicle (HEV): HEVs combine an internal combustion engine with an electric motor. In the US, the Electric Vehicle Actuator Market for HEVs is characterized by the integration of actuators to optimize energy management, supporting seamless transitions between electric and combustion modes. Trends include advancements in regenerative braking systems.
  • Plug-in Hybrid Electric Vehicle (PHEV): PHEVs feature both electric and internal combustion engines with the ability to charge from external sources. The US Electric Vehicle Actuator Market for PHEVs emphasizes actuators that enhance the efficiency of dual powertrains, aligning with trends promoting extended electric-only driving ranges and improved overall system performance.
  • Fuel Cell Electric Vehicle (FCEV): FCEVs use hydrogen fuel cells to generate electricity. In the US Electric Vehicle Actuator Market for FCEVs, trends include the development of actuators that support the unique requirements of fuel cell systems, such as precise control of air and hydrogen flow, contributing to enhanced fuel cell vehicle efficiency.

US Electric Vehicle Actuator Market 2023–2032 (By Type)

www.custommarketinsight.com

Competitive Landscape – US Electric Vehicle Actuator Market

The US Electric Vehicle Actuator Market is highly competitive, with a large number of manufacturers and retailers operating. Some of the key players in the market include:

  • Bosch Limited
  • Continental AG
  • Siemens AG
  • HELLA GmbH & Co. KGaA
  • Valeo SA
  • Mitsubishi Electric Corporation
  • Johnson Electric Holdings Limited
  • Nidec Corporation
  • Nexteer Automotive Group Limited
  • NSK Ltd.
  • Robert Bosch GmbH
  • Schaeffler AG
  • Siemens AG
  • Stoneridge Inc.
  • ZF Friedrichshafen AG
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants like Rivian, Lucid Motors, and Lordstown Motors are embracing innovation to penetrate the US Electric Vehicle Actuator Market. These companies prioritize cutting-edge technologies and sustainable solutions in their electric vehicles, showcasing a commitment to innovation.

Dominant players like Bosch, Continental, and Siemens lead through extensive R&D investments, global presence, and established collaborations. Their dominance is reinforced by a wide range of high-performance electric vehicle actuators, a strong brand reputation, and the ability to meet the evolving demands of the rapidly growing electric vehicle industry in the US.

US Electric Vehicle Actuator Market 2023–2032 (By End Use)

www.custommarketinsight.com

The US Electric Vehicle Actuator Market is segmented as follows:

By Type

  • Hydraulic Actuator
  • Pneumatic Actuator
  • Electric Actuator

By Application

  • HVAC
  • Brakes
  • Headlights
  • Grill Shutter
  • Mirrors
  • Trunk
  • Hood
  • Others
    • Power Windows
    • Seat Adjustment
    • Steering Column Adjustment
    • Others
      • Window Wipers
      • Convertible Tops
      • Transmission System
      • Electric Door Locks
      • Sunroof Operations
      • Seatbelt Tensioners
      • Adjustable Pedals
      • Seatback Recliners
      • Power Trunk Or Tailgate Release
      • Charging Port Doors

By End Use

  • Battery EV
  • Hybrid EV
  • Plug-in-hybrid EV
  • Fuel Cell EV

Regional Coverage:

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 US Electric Vehicle Actuator Market, (2023 – 2032) (USD Million)
    • 2.2 US Electric Vehicle Actuator Market : snapshot
  • Chapter 3. US Electric Vehicle Actuator Market – Industry Analysis
    • 3.1 US Electric Vehicle Actuator Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Stringent Emission Standards
      • 3.2.2 Technological Advancements
      • 3.2.3 Growing Charging Infrastructure
      • 3.2.4 Rising Adoption of Electric Vehicles (EVs)
      • 3.2.5 Integration of Smart Technologies
      • 3.2.6 Consumer Awareness and Preferences.
      • 3.2.7 Rising Adoption of Electric Vehicles (EVs)
      • 3.2.8 Government Support and Incentives
      • 3.2.9 Technological Advancements
      • 3.2.10 Environmental Awareness and Regulations
      • 3.2.11 Infrastructure Development
      • 3.2.12 Collaborations and Partnerships.
      • 3.2.13 Government Incentives
      • 3.2.14 Increasing Consumer Demand for EVs
      • 3.2.15 Technological Advancements
      • 3.2.16 Infrastructure Development
      • 3.2.17 Collaborations for Research and Development
      • 3.2.18 Integration of Smart Technologies.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
      • 3.7.3 Market attractiveness analysis By End Use
  • Chapter 4. US Electric Vehicle Actuator Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 US Electric Vehicle Actuator Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. US Electric Vehicle Actuator Market – Type Analysis
    • 5.1 US Electric Vehicle Actuator Market overview: By Type
      • 5.1.1 US Electric Vehicle Actuator Market share, By Type, 2022 and 2032
    • 5.2 Hydraulic actuator
      • 5.2.1 US Electric Vehicle Actuator Market by Hydraulic actuator, 2023 – 2032 (USD Million)
    • 5.3 Pneumatic actuator
      • 5.3.1 US Electric Vehicle Actuator Market by Pneumatic actuator, 2023 – 2032 (USD Million)
    • 5.4 Electric Actuator
      • 5.4.1 US Electric Vehicle Actuator Market by Electric Actuator, 2023 – 2032 (USD Million)
  • Chapter 6. US Electric Vehicle Actuator Market – Application Analysis
    • 6.1 US Electric Vehicle Actuator Market overview: By Application
      • 6.1.1 US Electric Vehicle Actuator Market share, By Application, 2022 and 2032
    • 6.2 HVAC
      • 6.2.1 US Electric Vehicle Actuator Market by HVAC, 2023 – 2032 (USD Million)
    • 6.3 Brakes
      • 6.3.1 US Electric Vehicle Actuator Market by Brakes, 2023 – 2032 (USD Million)
    • 6.4 Headlights
      • 6.4.1 US Electric Vehicle Actuator Market by Headlights, 2023 – 2032 (USD Million)
    • 6.5 Grill Shutter
      • 6.5.1 US Electric Vehicle Actuator Market by Grill Shutter, 2023 – 2032 (USD Million)
    • 6.6 Mirrors
      • 6.6.1 US Electric Vehicle Actuator Market by Mirrors, 2023 – 2032 (USD Million)
    • 6.7 Trunk
      • 6.7.1 US Electric Vehicle Actuator Market by Trunk, 2023 – 2032 (USD Million)
    • 6.8 Hood
      • 6.8.1 US Electric Vehicle Actuator Market by Hood, 2023 – 2032 (USD Million)
    • 6.9 Others
      • 6.9.1 US Electric Vehicle Actuator Market by Others, 2023 – 2032 (USD Million)
    • 6.10 Power Windows
      • 6.10.1 US Electric Vehicle Actuator Market by Power Windows, 2023 – 2032 (USD Million)
    • 6.11 Seat adjustment
      • 6.11.1 US Electric Vehicle Actuator Market by Seat adjustment, 2023 – 2032 (USD Million)
    • 6.12 Steering column adjustment
      • 6.12.1 US Electric Vehicle Actuator Market by Steering column adjustment, 2023 – 2032 (USD Million)
    • 6.13 Others
      • 6.13.1 US Electric Vehicle Actuator Market by Others, 2023 – 2032 (USD Million)
    • 6.14 Window wipers
      • 6.14.1 US Electric Vehicle Actuator Market by Window wipers, 2023 – 2032 (USD Million)
    • 6.15 convertible tops
      • 6.15.1 US Electric Vehicle Actuator Market by convertible tops, 2023 – 2032 (USD Million)
    • 6.16 Transmission System
      • 6.16.1 US Electric Vehicle Actuator Market by Transmission System, 2023 – 2032 (USD Million)
    • 6.17 electric door locks
      • 6.17.1 US Electric Vehicle Actuator Market by electric door locks, 2023 – 2032 (USD Million)
    • 6.18 Sunroof Operations
      • 6.18.1 US Electric Vehicle Actuator Market by Sunroof Operations, 2023 – 2032 (USD Million)
    • 6.19 Seatbelt Tensioners
      • 6.19.1 US Electric Vehicle Actuator Market by Seatbelt Tensioners, 2023 – 2032 (USD Million)
    • 6.20 Adjustable Pedals
      • 6.20.1 US Electric Vehicle Actuator Market by Adjustable Pedals, 2023 – 2032 (USD Million)
    • 6.21 Seatback Recliners
      • 6.21.1 US Electric Vehicle Actuator Market by Seatback Recliners, 2023 – 2032 (USD Million)
    • 6.22 Power Trunk or Tailgate Release
      • 6.22.1 US Electric Vehicle Actuator Market by Power Trunk or Tailgate Release, 2023 – 2032 (USD Million)
    • 6.23 Charging Port Doors
      • 6.23.1 US Electric Vehicle Actuator Market by Charging Port Doors, 2023 – 2032 (USD Million)
  • Chapter 7. US Electric Vehicle Actuator Market – End Use Analysis
    • 7.1 US Electric Vehicle Actuator Market overview: By End Use
      • 7.1.1 US Electric Vehicle Actuator Market share, By End Use, 2022 and 2032
    • 7.2 Battery EV
      • 7.2.1 US Electric Vehicle Actuator Market by Battery EV, 2023 – 2032 (USD Million)
    • 7.3 Hybrid EV
      • 7.3.1 US Electric Vehicle Actuator Market by Hybrid EV, 2023 – 2032 (USD Million)
    • 7.4 Plug-in-hybrid EV
      • 7.4.1 US Electric Vehicle Actuator Market by Plug-in-hybrid EV, 2023 – 2032 (USD Million)
    • 7.5 Fuel Cell EV
      • 7.5.1 US Electric Vehicle Actuator Market by Fuel Cell EV, 2023 – 2032 (USD Million)
  • Chapter 8. US Electric Vehicle Actuator Market – Regional Analysis
    • 8.1 US Electric Vehicle Actuator Market Regional Overview
    • 8.2 US Electric Vehicle Actuator Market Share, by Region, 2022 & 2032 (USD Million)
  • Chapter 9. Company Profiles
    • 9.1 Bosch Limited
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Continental AG
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Siemens AG
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 HELLA GmbH & Co. KGaA
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Valeo SA
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Mitsubishi Electric Corporation
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Johnson Electric Holdings Limited
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Nidec Corporation
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Nexteer Automotive Group Limited
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 NSK Ltd.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Robert Bosch GmbH
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Schaeffler AG
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Siemens AG
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Stoneridge Inc.
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 ZF Friedrichshafen AG
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Others.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
List Of Figures

Figures No 1 to 40

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Bosch Limited
  • Continental AG
  • Siemens AG
  • HELLA GmbH & Co. KGaA
  • Valeo SA
  • Mitsubishi Electric Corporation
  • Johnson Electric Holdings Limited
  • Nidec Corporation
  • Nexteer Automotive Group Limited
  • NSK Ltd.
  • Robert Bosch GmbH
  • Schaeffler AG
  • Siemens AG
  • Stoneridge Inc.
  • ZF Friedrichshafen AG
  • Others

FAQs

The key factors driving the Market are Government Incentives, Increasing Consumer Demand for EVs, Technological Advancements, Infrastructure Development, Collaborations for Research and Development And Integration of Smart Technologies.

The “Hydraulic Actuator” category dominated the market in 2022.

The key players in the market are Bosch Limited, Continental AG, Siemens AG, HELLA GmbH & Co. KGaA, Valeo SA, Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, Nidec Corporation, Nexteer Automotive Group Limited, NSK Ltd., Robert Bosch GmbH, Schaeffler AG, Siemens AG, Stoneridge Inc., ZF Friedrichshafen AG, Others.

The market is projected to grow at a CAGR of 9% during the forecast period, 2023-2032.

The US Electric Vehicle Actuator Market size was valued at USD 160.5 Million in 2023.

PURCHASE OPTIONS

$

2650


$

3650


$

4650


$

1650


powerbi pdf
$

5200

What You Get :

  • PDF Report Format.
  • Can be accessible by 1 single user.
  • Free 25% or 40 hours of customisation.
  • Free post-sale service assistance.
  • 15% discount on your next purchase.
  • Dedicated account Associate .
  • Permission to print the report.
  • Service guarantee available.
  • PDF and Excel Datasheet Formats.
  • Can be accessible upto 2 to 5 users.
  • Free 35% or 60 hours of customisation.
  • Free post-sale service assistance.
  • 25% discount on your next purchase.
  • Service guarantee available.
  • Personalised market brief by author.
  • Permission to print the report.
  • PDF, Excel and Power Point.
  • Can be accessible by unlimited users.
  • Free 40% or 80 hours of customisation.
  • Free post-sale service assistance.
  • 30% discount on your next purchase.
  • Permission to print the report.
  • Dedicated account manager.
  • Service guarantee available.
  • Excel Datasheet Format.
  • Customized access as per user request.
  • Upgradable to other licenses.
  • 15% discount on your next purchase.
  • Free 20% or 10 hours of customisation.
  • PDF, Excel, Power Point and Power BI.
  • Every Year Free Update ( Apr – Apr)
  • Personalized market brief by author
  • Can be accessible by unlimited users.
  • Free 50% or 90 hours of customization.
  • Up to 50 Company Profiles
  • Free post-sale service assistance with guarantee
  • 40% discount on your next purchase.
  • Permission to print the report.
  • Dedicated account team.
  • Service guarantee available.

Want to customize this report?
100% FREE CUSTOMIZATION!