Europe 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 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Europe |
| Largest Market: | Europe |
Major Players
- Siemens AG
- HELLA GmbH & Co. KGaA
- Valeo SA
- Mitsubishi Electric Corporation
- Schaeffler AG
- Others
Reports Description
As per the current market research conducted by the CMI Team, the Europe Electric Vehicle Actuator Market is expected to record a CAGR of 9.3% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 146.6 Million. By 2032, the valuation is anticipated to reach USD 325.5 Million.
The Europe Electric Vehicle Actuator Market pertains to the industry involved in the production, distribution, and innovation of actuators specifically designed for electric vehicles (EVs). Actuators play a crucial role in various systems within EVs, such as powertrains, steering, and braking systems.
The market is driven by factors like the increasing adoption of EVs, government incentives promoting sustainable transportation, continuous technological advancements, and collaborative initiatives among industry players.
Key companies are actively contributing to advancements in actuator technology, addressing the evolving demands of the rapidly growing electric vehicle industry in Europe.
Europe Electric Vehicle Actuator Market – Significant Growth Factors
The Europe Electric Vehicle Actuator Market presents significant growth opportunities due to several factors:
- Stringent Emission Standards: Stringent emission regulations imposed by European governments push automotive manufacturers to invest in electric vehicle technologies, including efficient actuators, to meet environmental standards.
- Technological Advancements: Continuous innovations in electric vehicle technology, with a focus on enhancing efficiency and performance, drive the demand for advanced electric vehicle actuators in Europe.
- Growing Charging Infrastructure: The expansion of the charging infrastructure for electric vehicles supports the demand for actuators, particularly those involved in charging mechanisms, contributing to the overall growth of the market.
- Rising Adoption of Electric Vehicles (EVs): The increasing shift towards electric vehicles in Europe, driven by environmental concerns and government incentives, fuels the demand for advanced electric vehicle actuators.
- 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 and connectivity, offering innovative solutions that cater to the evolving preferences of European consumers.
- Consumer Awareness and Preferences: The increasing awareness among European consumers about environmental sustainability and the benefits of electric vehicles presents an opportunity. Actuator manufacturers can capitalize on consumer preferences for eco-friendly options, contributing to the growth of the electric vehicle actuator market in Europe.
Europe Electric Vehicle Actuator Market – Mergers and Acquisitions
The Europe 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 Europe Electric Vehicle Actuator Market include:
- In 2023, Fisker has partnered with Allianz Partners to offer robust roadside assistance support to European customers. Leveraging Allianz Partners’ expertise in B2B2C assistance and insurance solutions, Fisker aims to ensure comprehensive and reliable roadside assistance services, enhancing peace of mind for its European clientele.
- In 2023, XPENG entered a strategic partnership with DiDi Global Inc. to expand its presence in the A-class smart electric vehicle (EV) segment. This collaboration aims to accelerate the adoption of smart EVs and associated technologies, leveraging DiDi’s position as a leading global mobility technology platform.
- In 2021, Arkamys and Continental collaborated to enhance automotive audio, integrating Continental sound actuators into a demo vehicle equipped with traditional speakers. Arkamys combined its software with diverse loudspeaker configurations, offering scalable, space-efficient, and concealed sound solutions, providing manufacturer-friendly benefits such as reduced weight and components in the demo car.
These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Europe 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
| Europe Electric Vehicle Actuator Market | Automotive Steer-By-Wire System Market | Electric Vehicle Actuator Market |
| CAGR 9.3% (Approx) | CAGR 7.8% (Approx) | CAGR 23% (Approx) |
| USD 325.5 Million by 2032 | USD 6.2 Billion by 2032 | USD 1400 Million by 2032 |
Europe Electric Vehicle Actuator Market – Significant Threats
The Europe 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 Disruptions: Disruptions in the global supply chain, whether caused by geopolitical tensions or unforeseen events like the COVID-19 pandemic, pose a significant threat to the Europe Electric Vehicle Actuator Market, impacting production timelines and component availability.
- Intense Competition: The market faces intense competition as more companies enter the electric vehicle sector. This competition may lead to pricing pressures, reduced profit margins, and a constant need for innovation to stay ahead in the market.
- Regulatory Changes: Changes in European regulations, emission standards, or other compliance requirements can pose challenges. Manufacturers must adapt to evolving regulatory landscapes, which might require modifications to existing electric vehicle actuator designs and compliance testing.
- Consumer Perceptions and Acceptance: Negative perceptions or concerns among European consumers regarding the reliability, safety, or cost-effectiveness of electric vehicles could impede market growth for electric vehicle actuators, influencing purchasing decisions and adoption rates.
- Economic Downturns: Economic uncertainties or downturns can impact consumer purchasing power, affecting the demand for electric vehicles and, consequently, electric vehicle actuators. Reduced consumer spending on automotive products during economic downturns poses a threat to market growth in Europe.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 146.6 Million |
| Projected Market Size in 2032 | USD 325.5 Million |
| Market Size in 2022 | USD 135.5 Million |
| CAGR Growth Rate | 9.3% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application, End Use and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | Europe |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Category-Wise Insights
By Type
- Hydraulic Actuator: Hydraulic actuators in the Europe Electric Vehicle Actuator Market use fluid pressure to convert energy into motion. Trends include the integration of compact, lightweight hydraulic systems for improved efficiency and reduced energy consumption in electric vehicles, addressing the demand for sustainable and high-performance solutions.
- Pneumatic Actuator: Pneumatic actuators rely on compressed air to generate motion. In the Europe Electric Vehicle Actuator Market, trends involve advancements in pneumatic systems for precise and energy-efficient control in electric vehicles, contributing to the overall drive for enhanced vehicle dynamics and performance.
- Electric Actuator: Electric actuators utilize electrical energy for motion control. In the Europe Electric Vehicle Actuator Market, trends focus on the development of advanced electric actuators with improved responsiveness, efficiency, and integration capabilities, aligning with the growing demand for smart and connected electric vehicle technologies.
By Application
- HVAC (Heating, Ventilation, and Air Conditioning): Electric Vehicle 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 Europe.
- Brakes: Actuators in brakes control braking systems, ensuring safety. In Europe, trends focus on 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 Europe, improving visibility and safety for EV users.
- Grill Shutter: Actuators manage grill shutters, optimizing airflow and improving aerodynamics for electric vehicles in Europe. 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 Europe 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 Europe. 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 Europe.
- 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 Europe Electric Vehicle Actuator Market.
By End Use
- Battery Electric Vehicle (BEV): BEVs are fully electric vehicles powered solely by rechargeable batteries. The Europe 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 North America, 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 Europe 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 Europe 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.
Competitive Landscape – Europe Electric Vehicle Actuator Market
The Europe 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:
- Siemens AG
- HELLA GmbH & Co. KGaA
- Valeo SA
- Mitsubishi Electric Corporation
- Schaeffler AG
- Bosch Limited
- Continental AG
- Johnson Electric Holdings Limited
- Nidec Corporation
- Nexteer Automotive Group Limited
- Thyssenkrupp AG
- Sonceboz SA
- APTIV PLC
- Stoneridge Inc.
- Brose Fahrzeugteile SE & Co. KG
- Others
These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.
New entrants like Arrival, Fisker, and Xpeng Motors have entered the Europe Electric Vehicle Actuator Market, adopting innovative technologies to establish a foothold. However, dominant players like Bosch, Continental, and Siemens lead through extensive R&D investments, global presence, and established collaborations.
These key players offer a diverse range of high-performance actuators, ensuring reliability and efficiency. Their dominance is reinforced by strategic partnerships, a comprehensive product portfolio, and the ability to meet evolving market demands, positioning them as leaders in shaping the trajectory of the electric vehicle actuator market in Europe.
The Europe 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 Europe Electric Vehicle Actuator Market, (2024 – 2033) (USD Million)
- 2.2 Europe Electric Vehicle Actuator Market: snapshot
- Chapter 3. Europe Electric Vehicle Actuator Market – Industry Analysis
- 3.1 Europe 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.
- 3.3 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. Europe Electric Vehicle Actuator Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Europe 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, collaboration, 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. Europe Electric Vehicle Actuator Market – Type Analysis
- 5.1 Europe Electric Vehicle Actuator Market Overview: By Type
- 5.1.1 Europe Electric Vehicle Actuator Market Share, By Type, 2022 and – 2033
- 5.2 Hydraulic actuator
- 5.2.1 Europe Electric Vehicle Actuator Market by Hydraulic actuator, 2024 – 2033 (USD Million)
- 5.3 Pneumatic actuator
- 5.3.1 Europe Electric Vehicle Actuator Market by Pneumatic Actuator, 2024 – 2033 (USD Million)
- 5.4 Electric Actuator
- 5.4.1 Europe Electric Vehicle Actuator Market by Electric Actuator, 2024 – 2033 (USD Million)
- 5.1 Europe Electric Vehicle Actuator Market Overview: By Type
- Chapter 6. Europe Electric Vehicle Actuator Market – Application Analysis
- 6.1 Europe Electric Vehicle Actuator Market Overview: By Application
- 6.1.1 Europe Electric Vehicle Actuator Market Share, By Application, 2022 and – 2033
- 6.2 HVAC
- 6.2.1 Europe Electric Vehicle Actuator Market by HVAC, 2024 – 2033 (USD Million)
- 6.3 Brakes
- 6.3.1 Europe Electric Vehicle Actuator Market by Brakes, 2024 – 2033 (USD Million)
- 6.4 Headlights
- 6.4.1 Europe Electric Vehicle Actuator Market by Headlights, 2024 – 2033 (USD Million)
- 6.5 Grill Shutter
- 6.5.1 Europe Electric Vehicle Actuator Market by Grill Shutter, 2024 – 2033 (USD Million)
- 6.6 Mirrors
- 6.6.1 Europe Electric Vehicle Actuator Market by Mirrors, 2024 – 2033 (USD Million)
- 6.7 Trunk
- 6.7.1 Europe Electric Vehicle Actuator Market by Trunk, 2024 – 2033 (USD Million)
- 6.8 Hood
- 6.8.1 Europe Electric Vehicle Actuator Market by Hood, 2024 – 2033 (USD Million)
- 6.9 Others
- 6.9.1 Europe Electric Vehicle Actuator Market by Others, 2024 – 2033 (USD Million)
- 6.10 Power Windows
- 6.10.1 Europe Electric Vehicle Actuator Market by Power Windows, 2024 – 2033 (USD Million)
- 6.11 Seat adjustment
- 6.11.1 Europe Electric Vehicle Actuator Market by Seat Adjustment, 2024 – 2033 (USD Million)
- 6.12 Steering column adjustment
- 6.12.1 Europe Electric Vehicle Actuator Market by Steering Column Adjustment, 2024 – 2033 (USD Million)
- 6.13 Others
- 6.13.1 Europe Electric Vehicle Actuator Market by Others, 2024 – 2033 (USD Million)
- 6.14 Window wipers
- 6.14.1 Europe Electric Vehicle Actuator Market by Window Wipers, 2024 – 2033 (USD Million)
- 6.15 convertible tops
- 6.15.1 Europe Electric Vehicle Actuator Market by Convertible Tops, 2024 – 2033 (USD Million)
- 6.16 Transmission System
- 6.16.1 Europe Electric Vehicle Actuator Market by Transmission System, 2024 – 2033 (USD Million)
- 6.17 electric door locks
- 6.17.1 Europe Electric Vehicle Actuator Market by Electric Door Locks, 2024 – 2033 (USD Million)
- 6.18 Sunroof Operations
- 6.18.1 Europe Electric Vehicle Actuator Market by Sunroof Operations, 2024 – 2033 (USD Million)
- 6.19 Seatbelt Tensioners
- 6.19.1 Europe Electric Vehicle Actuator Market by Seatbelt Tensioners, 2024 – 2033 (USD Million)
- 6.20 Adjustable Pedals
- 6.20.1 Europe Electric Vehicle Actuator Market by Adjustable Pedals, 2024 – 2033 (USD Million)
- 6.21 Seatback Recliners
- 6.21.1 Europe Electric Vehicle Actuator Market by Seatback Recliners, 2024 – 2033 (USD Million)
- 6.22 Power Trunk or Tailgate Release
- 6.22.1 Europe Electric Vehicle Actuator Market by Power Trunk or Tailgate Release, 2024 – 2033 (USD Million)
- 6.23 Charging Port Doors
- 6.23.1 Europe Electric Vehicle Actuator Market by Charging Port Doors, 2024 – 2033 (USD Million)
- 6.1 Europe Electric Vehicle Actuator Market Overview: By Application
- Chapter 7. Europe Electric Vehicle Actuator Market – End Use Analysis
- 7.1 Europe Electric Vehicle Actuator Market Overview: By End Use
- 7.1.1 Europe Electric Vehicle Actuator Market Share, By End Use, 2022 and – 2033
- 7.2 Battery EV
- 7.2.1 Europe Electric Vehicle Actuator Market by Battery EV, 2024 – 2033 (USD Million)
- 7.3 Hybrid EV
- 7.3.1 Europe Electric Vehicle Actuator Market by Hybrid EV, 2024 – 2033 (USD Million)
- 7.4 Plug-in-hybrid EV
- 7.4.1 Europe Electric Vehicle Actuator Market by Plug-in-hybrid EV, 2024 – 2033 (USD Million)
- 7.5 Fuel Cell EV
- 7.5.1 Europe Electric Vehicle Actuator Market by Fuel Cell EV, 2024 – 2033 (USD Million)
- 7.1 Europe Electric Vehicle Actuator Market Overview: By End Use
- Chapter 8. Europe Electric Vehicle Actuator Market – Regional Analysis
- 8.1 Europe Electric Vehicle Actuator Market Regional Overview
- 8.2 Europe Electric Vehicle Actuator Market Share, by Region, 2022 & – 2033 (USD Million)
- 8.3. Europe
- 8.3.1 Europe Europe Electric Vehicle Actuator Market, 2024 – 2033 (USD Million)
- 8.3.1.1 Europe Europe Electric Vehicle Actuator Market, by Country, 2024 – 2033 (USD Million)
- 8.3.1 Europe Europe Electric Vehicle Actuator Market, 2024 – 2033 (USD Million)
- 8.4 Europe Europe Electric Vehicle Actuator Market, by Type, 2024 – 2033
- 8.4.1 Europe Europe Electric Vehicle Actuator Market, by Type, 2024 – 2033 (USD Million)
- 8.5 Europe Europe Electric Vehicle Actuator Market, by Application, 2024 – 2033
- 8.5.1 Europe Europe Electric Vehicle Actuator Market, by Application, 2024 – 2033 (USD Million)
- 8.6 Europe Europe Electric Vehicle Actuator Market, by End Use, 2024 – 2033
- 8.6.1 Europe Europe Electric Vehicle Actuator Market, by End Use, 2024 – 2033 (USD Million)
- Chapter 9. Company Profiles
- 9.1 Siemens AG
- 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 & 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 Valeo SA
- 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 Mitsubishi Electric 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 Schaeffler AG
- 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 Bosch Limited
- 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 Continental AG
- 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 Johnson Electric Holdings Limited
- 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 Nidec Corporation
- 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 Nexteer Automotive Group Limited
- 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 Thyssenkrupp AG
- 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 Sonceboz SA
- 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 APTIV PLC
- 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 Brose Fahrzeugteile SE & Co. KG
- 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
- 9.1 Siemens AG
List Of Figures
Figures No 1 to 41
List Of Tables
Tables No 1 to 5
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 |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Siemens AG
- HELLA GmbH & Co. KGaA
- Valeo SA
- Mitsubishi Electric Corporation
- Schaeffler AG
- Bosch Limited
- Continental AG
- Johnson Electric Holdings Limited
- Nidec Corporation
- Nexteer Automotive Group Limited
- Thyssenkrupp AG
- Sonceboz SA
- APTIV PLC
- Stoneridge Inc.
- Brose Fahrzeugteile SE & Co. KG
- Others
FAQs
The key factors driving the Market are Stringent Emission Standards, Technological Advancements, Growing Charging Infrastructure, Rising Adoption of Electric Vehicles (EVs), Integration of Smart Technologies And Consumer Awareness and Preferences.
The “Hydraulic Actuator” category dominated the market in 2022.
The key players in the market are Siemens AG, HELLA GmbH & Co. KGaA, Valeo SA, Mitsubishi Electric Corporation, Schaeffler AG, Bosch Limited, Continental AG, Johnson Electric Holdings Limited, Nidec Corporation, Nexteer Automotive Group Limited, Thyssenkrupp AG, Sonceboz SA, APTIV PLC, Stoneridge Inc., Brose Fahrzeugteile SE & Co. KG, Others.
The market is projected to grow at a CAGR of 9.3% during the forecast period, 2023-2032.
The Europe Electric Vehicle Actuator Market size was valued at USD 146.6 Million in 2023.