North America Electric Vehicle Actuator Market is expected to reach US$ 193.16 million by 2028

Hydraulic Actuator Segment to Dominate North America Electric Vehicle Actuator Market During  2020–2028

  According to a new market research study on “North America Electric Vehicle Actuator Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and Vehicle Type” is expected to reach US$ 193.16 million by 2028 from US$ 105.17 million in 2020. The market is estimated to grow at a CAGR of 7.4 % from 2021 to 2028. The report provides trends prevailing in the North America electric vehicle actuator market along with the drivers and restraints pertaining to the market growth. Increasing adoption of fuel-efficient vehicles and escalating demand for advanced automation systems in the vehicle are the major factor driving the growth of the North America electric vehicle actuator market. However, rising scalability issues and capital costs hinders the growth of North America electric vehicle actuator market.  

In case of COVID-19, The US is the most affected country in North America. The growing number of infections in has led the government to impose various containment measure such factories shut down, travel restrictions, closure of international borders and lockdowns. The huge increase in the number of confirmed cases and rising reported deaths in the country is affected both manufacturing and sales of materials associated with electric vehicle actuator. The region is expecting market recovery and economic improvement with the start of the COVID-19 vaccination. However, companies risk still remain with the market uncertainties from tough business environment associated with unfavorable foreign exchange rate, raw material price and logistics cost.

The North America electric vehicle actuator market is segmented based on type, application, vehicle type, and country. Based on type, the North America electric vehicle actuator market is segmented into the hydraulic actuator, electric actuator, and pneumatic actuator. The hydraulic actuator segment dominated the market in 2020 and electric actuator segment is expected to be fastest growing during forecast period. Based on application, the North America electric vehicle actuator market is segmented into HVAC, headlights, brakes, grill shutter, mirrors, hood, trunk, and others. The hood segment dominated the market in 2020 and HVAC segment is expected to be fastest growing during forecast period.  Based on vehicle type, the North America electric vehicle actuator market is segmented into battery electric vehicle (BEV), plug-in hybrid vehicle (PHEV), hybrid electric vehicle (HEV), and fuel cell electric vehicle (FCEV). The hybrid electric vehicle (HEV) segment dominated the market in 2020 and fuel cell electric vehicle (FCEV) segment is expected to be fastest growing during forecast period.

BorgWarner Inc.; Continental AG; HELLA GmbH and Co. KGaA; Hitachi, Ltd.; Johnson Electric Holdings Limited; Mahle GmbH; Mitsubishi Electric Corporation; Nidec Corporation; Robert Bosch GmbH; and Stoneridge, Inc. are among the leading companies in the North America electric vehicle actuator market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, BorgWarner, in partnership with GAC Motor, launched its next-generation variable cam timing actuators (VCTA). It is based on intelligent cam torque actuation (iCTA). The product has applications in hybrid.

The report segments the North America Electric Vehicle Actuator Market as follows:

North America Electric Vehicle Actuator Market – By Type

• Hydraulic Actuator
• Electric Actuator
• Pneumatic Actuator

North America Electric Vehicle Actuator Market – By Application

• HVAC
• Headlights
• Brakes
• Grill Shutter
• Mirrors
• Hood
• Trunk
• Others

North America Electric Vehicle Actuator Market – By Vehicle Type

• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
• Fuel Cell Electric Vehicle (FCEV)

North America Electric Vehicle Actuator Market – By Country

• US
• Canada     
• Mexico