US Electric Vehicle Actuator Market 2024–2033

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 – 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

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.

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.

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.

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