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), By EV Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Robert Bosch GMBH
- HELLA GMBH AND CO. KGAA
- Continental AG
- Nidec Corporation
- Johnson Electric
- Stoneridge Inc
- Others
Reports Description
The market is expanding as a result of the booming demand for technologically improved systems.
According to Custom Market Insights (CMI), The Global Electric Vehicle Actuator Market size was worth around USD 600 million in 2021 and is expected to reach USD 689 million in 2022 and is predicted to grow to around USD 1400 million by 2030 with a compound annual growth rate (CAGR) of roughly 23% between 2022 and 2030.
The report analyses the Electric Vehicle Actuator market’s drivers and restraints and their impact on demand throughout the projection period. In addition, the report examines global opportunities in the global Electric Vehicle Actuator market.
Electric Vehicle Actuator Market: Overview
Automobile electric actuators offer useful solutions to end customers. Increased driver safety consciousness has led to the introduction of automated vehicles and performance-enhancing features on a global scale. So, it is becoming more common to open tailgates, lower ramps, and securely adjust mirrors using electric automotive actuators.
Electric Vehicle Actuator Market: COVID–19 Impact Analysis
The COVID-19 pandemic has had a considerable impact on the production of electronic equipment, particularly the hardware component of electric car actuators. Industry researchers forecast that the supply chain for electronics equipment will lag by at least 25% as a result of the COVID-19 virus’s global propagation and lockdown scenarios. This disruption continued to create tremors until mid-2021. Yet, as the economy began to recover, governments all over the world progressively withdrew the various containment restrictions. As a result, growth was seen in the automotive and electronic equipment industries.
Since 2021, there has been an increase in the production of cars and electronic devices, which is anticipated to have a positive effect on the production of electronic devices and vehicles, including the hardware elements of electric vehicle (EV) actuators.
Electric Vehicle Actuator Market: Growth Drivers
Growing demand for sophisticated electronic systems
The industry is primarily driven by the increasing need for sophisticated electronic systems in automobiles. Due to increased vehicle production and a rising preference for smooth, pleasant driving, the need for various actuators is also rising. Modern light-duty cars are generally equipped with excellent mechanical or electric actuators. Their diesel engines consume 10–20% less fuel than gasoline-powered hybrid vehicles because they run more efficiently.
The hybrid vehicle engine is able to handle some regenerative braking energy while also functioning at its most effective level thanks to actuators. Electric vehicles (EVs), which employ batteries and electric motors that are fundamentally more efficient than internal combustion engines, require the least amount of energy. Several manufacturers worldwide are focusing on ensuring the EU fleet regulations limit the average CO2 emissions per kilometer by 2030 since penalties will be applied for non-compliance. Original equipment manufacturers (OEMs) are able to exceed their targets with the sale of EVs and simplify compliance by lowering the limit’s criteria by up to 5%.
An increase in the demand for in-car comfort systems:
Rising demand for in-vehicle comfort systems, which is associated with a rise in customer demand for opulent and pleasant rides, is anticipated to boost the market for automotive electric actuators. In response to the rising demand for comfort systems, automakers are incorporating options like motorized windows, sunroofs, and HVAC systems. These systems are controlled by electric actuators. Throughout the projection period, this will probably result in an increase in demand for electric vehicle actuators.
Actuator Market for Electric Vehicles: Segmentation Analysis
In the context of our research, the Electric Vehicle Actuator market is divided into type, application, and EV segments. The hybrid electric vehicle is predicted to have a leading market position in 2021 based on the EV type. A hybrid electric car is a sophisticated system that integrates electronic, mechanical, chemical, and thermodynamic technology (HEV). As a HEV is traveling, different flows convert control and data.
Between the engine and the automatic transmission in HEVs is a hybrid drive motor that delivers power. In other words, the motor and driving engine both contribute to the power that is transmitted to the wheels. The mechanical gearbox in an internal combustion engine (ICE) and an electric machine (EE)
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 600 Million |
| Projected Market Size in 2030 | USD 1400 Million |
| Market Size in 2022 | USD 689 Million |
| CAGR Growth Rate | 23% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Robert Bosch GMBH, HELLA GMBH AND CO. KGAA, Continental AG, Nidec Corporation, Johnson Electric, Stoneridge Inc, Borgwarner INC., Hitachi Automotive Systems LTD., Mahle GMBH, Mitsubishi Electric Corporation, and Others |
| Key Segment | By Type, Application, EV Type, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- The Electric Vehicle Actuator Market is anticipated to expand annually at a CAGR of roughly 23% over the projected period, according to the data supplied by our research analyst (2022-2030).
- The market for electric vehicle actuators was estimated to be worth around USD 600 million in 2021 and is anticipated to be worth USD 1400 million by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
- According to type segmentation, it was predicted that the hydraulic actuators segment will account for the largest market share in 2021.
- According to the segmentation of EV types, the hybrid electric vehicle market generated the most revenue in 2021.
- According to geography or location, the Asia Pacific area generated the most money in 2021.
New Development
- 2021 saw the beginning of electrical catalyst heating production by Vitesco Technologies for high-voltage hybrid automobiles.
- In 2020, Bosch unveiled an electronic airbag control module for automobiles. The bag’s ability to fully inflate in less than 30 milliseconds allows it to protect the driver and occupants.
Regional Landscape
For suppliers and manufacturers of automotive actuators, China is one of the most lucrative markets. China’s automotive industry produces several automotive-based electronic components in large quantities at a cheaper cost because to technological innovation and easy access to raw materials, giving it a competitive edge over other nations.
The US market for electric vehicle actuators is likewise expanding significantly. The market will grow as international enterprises operating in the US place more emphasis on forming partnerships, joint ventures, acquisitions, and collaborations with start-up companies to jointly develop electromagnetic actuators with cutting-edge technology.
Sales of automotive actuators are also anticipated to expand due to the strong demand for vehicles with cutting-edge features and an increase in the number of autonomous vehicle testing procedures in this country.
Competitive Environment
The global automotive electric vehicle actuator market is growing as a result of the existence of various big, medium-sized, and small-scale system developers, manufacturers, and service providers. To gain a competitive edge globally, many automakers are integrating cutting-edge technologies into their vehicles.
Prominent Players:
- Robert Bosch GMBH
- HELLA GMBH AND CO. KGAA
- Continental AG
- Nidec Corporation
- Johnson Electric
- Stoneridge Inc
- Borgwarner INC.
- Hitachi Automotive Systems LTD.
- Mahle GMBH
- Mitsubishi Electric Corporation
The global 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
By EV Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Vehicle (PHEV)
- Fuel Cell Electric Vehicle (FCEV)
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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 Global Electric Vehicle Actuator Market, (2022 – 2030) (USD Million)
- 2.2 Global Electric Vehicle Actuator Market : snapshot
- Chapter 3. Global Electric Vehicle Actuator Market – Industry Analysis
- 3.1 Electric Vehicle Actuator Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing demand for electronically advanced systems
- 3.2.2 Surging demand for in-vehicle comfort system
- 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 EV Type
- Chapter 4. Global Electric Vehicle Actuator Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Electric Vehicle Actuator Market: company market share, 2021
- 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
- 4.1 Company market share analysis
- Chapter 5. Global Electric Vehicle Actuator Market – Type Analysis
- 5.1 Global Electric Vehicle Actuator Market overview: By Type
- 5.1.1 Global Electric Vehicle Actuator Market share, By Type, 2021 and 2030
- 5.2 Hydraulic Actuator
- 5.2.1 Global Electric Vehicle Actuator Market by Hydraulic Actuator, 2022 – 2030 (USD Million)
- 5.3 Pneumatic Actuator
- 5.3.1 Global Electric Vehicle Actuator Market by Pneumatic Actuator, 2022 – 2030 (USD Million)
- 5.4 Electric Actuator
- 5.4.1 Global Electric Vehicle Actuator Market by Electric Actuator, 2022 – 2030 (USD Million)
- 5.1 Global Electric Vehicle Actuator Market overview: By Type
- Chapter 6. Global Electric Vehicle Actuator Market – Application Analysis
- 6.1 Global Electric Vehicle Actuator Market overview: By Application
- 6.1.1 Global Electric Vehicle Actuator Market share, By Application, 2021 and 2030
- 6.2 HVAC
- 6.2.1 Global Electric Vehicle Actuator Market by HVAC, 2022 – 2030 (USD Million)
- 6.3 Brakes
- 6.3.1 Global Electric Vehicle Actuator Market by Brakes, 2022 – 2030 (USD Million)
- 6.4 Headlights
- 6.4.1 Global Electric Vehicle Actuator Market by Headlights, 2022 – 2030 (USD Million)
- 6.5 Grill Shutter
- 6.5.1 Global Electric Vehicle Actuator Market by Grill Shutter, 2022 – 2030 (USD Million)
- 6.6 Mirrors
- 6.6.1 Global Electric Vehicle Actuator Market by Mirrors, 2022 – 2030 (USD Million)
- 6.7 Trunk
- 6.7.1 Global Electric Vehicle Actuator Market by Trunk, 2022 – 2030 (USD Million)
- 6.8 Hood
- 6.8.1 Global Electric Vehicle Actuator Market by Hood, 2022 – 2030 (USD Million)
- 6.9 Others
- 6.9.1 Global Electric Vehicle Actuator Market by Others, 2022 – 2030 (USD Million)
- 6.1 Global Electric Vehicle Actuator Market overview: By Application
- Chapter 7. Global Electric Vehicle Actuator Market – EV Type Analysis
- 7.1 Global Electric Vehicle Actuator Market overview: By EV Type
- 7.1.1 Global Electric Vehicle Actuator Market share, By EV Type, 2021 and 2030
- 7.2 Battery Electric Vehicle (BEV)
- 7.2.1 Global Electric Vehicle Actuator Market by Battery Electric Vehicle (BEV), 2022 – 2030 (USD Million)
- 7.3 Hybrid Electric Vehicle (HEV)
- 7.3.1 Global Electric Vehicle Actuator Market by Hybrid Electric Vehicle (HEV), 2022 – 2030 (USD Million)
- 7.4 Plug-in Hybrid Vehicle (PHEV)
- 7.4.1 Global Electric Vehicle Actuator Market by Plug-in Hybrid Vehicle (PHEV), 2022 – 2030 (USD Million)
- 7.5 Fuel Cell Electric Vehicle (FCEV)
- 7.5.1 Global Electric Vehicle Actuator Market by Fuel Cell Electric Vehicle (FCEV), 2022 – 2030 (USD Million)
- 7.1 Global Electric Vehicle Actuator Market overview: By EV Type
- Chapter 8. Electric Vehicle Actuator Industry – Regional Analysis
- 8.1 Global Electric Vehicle Actuator Industry Regional Overview
- 8.2 Global Electric Vehicle Actuator Industry Share, by Region, 2021 & 2030 (USD Million)
- 8.3. North America
- 8.3.1 North America Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.3.1.1 North America Electric Vehicle Actuator Industry, by Country, 2022 – 2030 (USD Million)
- 8.3.1 North America Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.4 North America Electric Vehicle Actuator Industry, by Type, 2022 – 2030
- 8.4.1 North America Electric Vehicle Actuator Industry, by Type, 2022 – 2030 (USD Million)
- 8.5 North America Electric Vehicle Actuator Industry, by Application, 2022 – 2030
- 8.5.1 North America Electric Vehicle Actuator Industry, by Application, 2022 – 2030 (USD Million)
- 8.6 North America Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030
- 8.6.1 North America Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030 (USD Million)
- 8.7. Europe
- 8.7.1 Europe Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.7.1.1 Europe Electric Vehicle Actuator Industry, by Country, 2022 – 2030 (USD Million)
- 8.7.1 Europe Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.8 Europe Electric Vehicle Actuator Industry, by Type, 2022 – 2030
- 8.8.1 Europe Electric Vehicle Actuator Industry, by Type, 2022 – 2030 (USD Million)
- 8.9 Europe Electric Vehicle Actuator Industry, by Application, 2022 – 2030
- 8.9.1 Europe Electric Vehicle Actuator Industry, by Application, 2022 – 2030 (USD Million)
- 8.10 Europe Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030
- 8.10.1 Europe Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030 (USD Million)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.11.1.1 Asia Pacific Electric Vehicle Actuator Industry, by Country, 2022 – 2030 (USD Million)
- 8.11.1 Asia Pacific Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.12 Asia Pacific Electric Vehicle Actuator Industry, by Type, 2022 – 2030
- 8.12.1 Asia Pacific Electric Vehicle Actuator Industry, by Type, 2022 – 2030 (USD Million)
- 8.13 Asia Pacific Electric Vehicle Actuator Industry, by Application, 2022 – 2030
- 8.13.1 Asia Pacific Electric Vehicle Actuator Industry, by Application, 2022 – 2030 (USD Million)
- 8.14 Asia Pacific Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030
- 8.14.1 Asia Pacific Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030 (USD Million)
- 8.15. Latin America
- 8.15.1 Latin America Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.15.1.1 Latin America Electric Vehicle Actuator Industry, by Country, 2022 – 2030 (USD Million)
- 8.15.1 Latin America Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.16 Latin America Electric Vehicle Actuator Industry, by Type, 2022 – 2030
- 8.16.1 Latin America Electric Vehicle Actuator Industry, by Type, 2022 – 2030 (USD Million)
- 8.17 Latin America Electric Vehicle Actuator Industry, by Application, 2022 – 2030
- 8.17.1 Latin America Electric Vehicle Actuator Industry, by Application, 2022 – 2030 (USD Million)
- 8.18 Latin America Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030
- 8.18.1 Latin America Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030 (USD Million)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.19.1.1 The Middle-East and Africa Electric Vehicle Actuator Industry, by Country, 2022 – 2030 (USD Million)
- 8.19.1 The Middle-East and Africa Electric Vehicle Actuator Industry, 2022 – 2030 (USD Million)
- 8.20 The Middle-East and Africa Electric Vehicle Actuator Industry, by Type, 2022 – 2030
- 8.20.1 The Middle-East and Africa Electric Vehicle Actuator Industry, by Type, 2022 – 2030 (USD Million)
- 8.21 The Middle-East and Africa Electric Vehicle Actuator Industry, by Application, 2022 – 2030
- 8.21.1 The Middle-East and Africa Electric Vehicle Actuator Industry, by Application, 2022 – 2030 (USD Million)
- 8.22 The Middle-East and Africa Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030
- 8.22.1 The Middle-East and Africa Electric Vehicle Actuator Industry, by EV Type, 2022 – 2030 (USD Million)
- Chapter 9. Company Profiles
- 9.1 Robert Bosch GMBH
- 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 HELLA GMBH AND CO. KGAA
- 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 Continental 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 Nidec Corporation
- 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 Johnson Electric
- 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 Stoneridge Inc
- 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 Borgwarner INC.
- 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 Hitachi Automotive Systems LTD.
- 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 Mahle GMBH
- 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 Mitsubishi Electric Corporation
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.1 Robert Bosch GMBH
List Of Figures
Figures No 1 to 31
List Of Tables
Tables No 1 to 77
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 2030
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 |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Players:
- Robert Bosch GMBH
- HELLA GMBH AND CO. KGAA
- Continental AG
- Nidec Corporation
- Johnson Electric
- Stoneridge Inc
- Borgwarner INC.
- Hitachi Automotive Systems LTD.
- Mahle GMBH
- Mitsubishi Electric Corporation
- Others
FAQs
“Asia Pacific” region will lead the global Electric Vehicle Actuator market during the forecast period 2022 to 2030.
The key factors driving the market are increasing demand for electronically advanced systems and surging demand for in-vehicle comfort system.
The key players operating in the Electric Vehicle Actuator market are Robert Bosch GMBH, HELLA GMBH AND CO. KGAA, Continental AG, Nidec Corporation, Johnson Electric, Stoneridge Inc, Borgwarner INC., Hitachi Automotive Systems LTD., Mahle GMBH, Mitsubishi Electric Corporation.
The global Electric Vehicle Actuator market is expanding growth with a CAGR of approximately 23% during the forecast period (2022 to 2030).
The global Electric Vehicle Actuator market size was valued at USD 600 Million in 2021 and it is projected to reach around USD 1400 Million by 2030.