Market Overview

The automotive industry has been undergoing a shift towards electrification in recent years, with electric and hybrid vehicles becoming increasingly popular. One important component of these vehicles is the electric actuator, which is responsible for controlling various systems within the vehicle. The automotive electric actuator market has been growing rapidly as a result of this shift towards electrification, with increasing demand for these components in both passenger and commercial vehicles.

Meaning

An electric actuator is a device that is used to convert electrical energy into mechanical energy in order to control various systems within a vehicle. These systems may include things like the throttle, brakes, steering, and suspension. Electric actuators are more efficient and precise than traditional hydraulic or mechanical systems, making them an ideal choice for use in electric and hybrid vehicles.

Executive Summary

The automotive electric actuator market is expected to grow at a significant rate in the coming years, driven by the increasing adoption of electric and hybrid vehicles. This growth is expected to be particularly strong in regions like North America and Europe, where there is already a high level of demand for these vehicles. Key market players include companies like Bosch, Continental, and Delphi Technologies, who are investing heavily in research and development in order to stay ahead of the competition.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The automotive electric actuator market is expected to grow at a CAGR of over 8% between 2021 and 2026.
• The passenger vehicle segment is expected to account for the largest share of the market, due to the increasing adoption of electric and hybrid vehicles in this segment.
• The Asia-Pacific region is expected to be the fastest-growing market, driven by increasing demand for electric vehicles in countries like China and India.
• Key market players include Bosch, Continental, and Delphi Technologies, who are investing heavily in research and development in order to stay ahead of the competition.

Market Drivers

The key drivers for the growth of the automotive electric actuator market include:

• Increasing adoption of electric and hybrid vehicles: As more and more consumers switch to electric and hybrid vehicles, the demand for electric actuators is expected to increase significantly.
• Environmental regulations: Governments around the world are implementing increasingly strict environmental regulations, which are driving the shift towards electrification in the automotive industry.
• Improved efficiency and performance: Electric actuators are more efficient and precise than traditional hydraulic or mechanical systems, making them an attractive choice for vehicle manufacturers who are looking to improve the performance and efficiency of their vehicles.

Market Restraints

The key restraints for the growth of the automotive electric actuator market include:

• High cost: Electric actuators are often more expensive than traditional hydraulic or mechanical systems, which can make them less attractive to cost-conscious consumers.
• Limited range: Electric vehicles still have a limited range compared to traditional gasoline-powered vehicles, which can limit their appeal to some consumers.
• Lack of infrastructure: The lack of infrastructure, including charging stations and maintenance facilities, can make it difficult for consumers to adopt electric vehicles.

Market Opportunities

The key opportunities for the growth of the automotive electric actuator market include:

• Increasing investment in research and development: As the market for electric and hybrid vehicles continues to grow, there is increasing investment in research and development in order to improve the performance and efficiency of electric actuators.
• Growing demand for commercial vehicles: As commercial vehicle manufacturers begin to adopt electrification, there is increasing demand for electric actuators in this segment.
• Expansion into emerging markets: As emerging markets like China and India begin to adopt electrification, there is significant potential for growth in the automotive electric actuator market in these regions.

Market Dynamics

The automotive electric actuator market is a dynamic and rapidly evolving industry, driven by the shift towards electrification in the automotive industry. Key market players are investing heavily in research and development in order to stay ahead of the competition and develop new and innovative electric actuators that meet the changing needs of consumers.

One of the biggest drivers of change in the market is the increasing adoption of electric and hybrid vehicles. As more consumers switch to these vehicles, demand for electric actuators is expected to increase significantly. This is particularly true in regions like North America and Europe, where there is already a high level of demand for electric vehicles.

Another important factor driving the market is environmental regulations. Governments around the world are implementing increasingly strict regulations aimed at reducing carbon emissions and combating climate change. This is driving the shift towards electrification in the automotive industry and creating new opportunities for electric actuator manufacturers.

Despite these drivers, there are also several key restraints on the growth of the market. One of the biggest challenges facing electric vehicle manufacturers is the high cost of electric actuators. While these components offer improved efficiency and performance, they are often more expensive than traditional hydraulic or mechanical systems. This can make them less attractive to cost-conscious consumers.

Another important restraint on the market is the limited range of electric vehicles compared to traditional gasoline-powered vehicles. While this gap is narrowing, electric vehicles still have a limited range compared to traditional vehicles, which can limit their appeal to some consumers.

Despite these challenges, there are also several key opportunities for growth in the market. One of the biggest opportunities is the increasing investment in research and development. As the market for electric and hybrid vehicles continues to grow, there is increasing investment in research and development in order to improve the performance and efficiency of electric actuators.

There is also significant potential for growth in emerging markets like China and India. As these countries begin to adopt electrification, there is significant potential for growth in the automotive electric actuator market in these regions.

Overall, the automotive electric actuator market is a dynamic and rapidly evolving industry, driven by the shift towards electrification in the automotive industry. While there are challenges facing the market, there are also significant opportunities for growth, particularly in emerging markets and through investment in research and development.

Regional Analysis

The automotive electric actuator market is expected to experience significant growth in all major regions of the world, with particularly strong growth in Asia-Pacific. This growth is being driven by the increasing adoption of electric and hybrid vehicles in the region, particularly in countries like China and India.

North America and Europe are also expected to see strong growth in the market, driven by the increasing adoption of electric and hybrid vehicles in these regions. In North America, the United States is expected to be the largest market for electric actuators, due to the high level of demand for electric vehicles in the country.

In Europe, Germany is expected to be the largest market for electric actuators, due to the country’s strong automotive industry and high level of investment in research and development.

Competitive Landscape

Leading Companies in the Automotive Electric Actuator Market:

1. Robert Bosch GmbH
2. Denso Corporation
3. Continental AG
4. Valeo SA
5. BorgWarner Inc.
6. Johnson Electric Holdings Limited
7. Hitachi, Ltd.
8. Mahle GmbH
9. Mitsubishi Electric Corporation
10. Nidec Corporation

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The automotive electric actuator market can be segmented on the basis of application, vehicle type, and region.

By application, the market can be segmented into throttle, brakes, steering, and suspension. The throttle segment is expected to account for the largest share of the market, due to the increasing adoption of electric and hybrid vehicles in the passenger vehicle segment.

By vehicle type, the market can be segmented into passenger vehicles, commercial vehicles, and others. The passenger vehicle segment is expected to account for the largest share of the market, due to the increasing adoption of electric and hybrid vehicles in this segment.

By region, the market can be segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to be the fastest-growing market, driven by increasing demand for electric vehicles in countries like China and India.

Category-wise Insights

The automotive electric actuator market can be further segmented into categories based on the type of electric actuator. These categories include linear, rotary, and others.

Linear actuators are used to convert electrical energy into linear motion, and are commonly used in systems like power windows and door locks. Rotary actuators are used to convert electrical energy into rotational motion, and are commonly used in systems like steering and suspension.

Other types of electric actuators include piezoelectric actuators, which are used to generate small, precise movements, and voice coil actuators, which are used to generate fast, precise movements.

Key Benefits for Industry Participants and Stakeholders

There are several key benefits for industry participants and stakeholders in the automotive electric actuator market. These benefits include:

• Increasing demand: As the adoption of electric and hybrid vehicles continues to grow, demand for electric actuators is expected to increase significantly, creating new opportunities for industry participants and stakeholders.
• Improved performance and efficiency: Electric actuators offer improved performance and efficiency compared to traditional hydraulic or mechanical systems, making them an attractive choice for vehicle manufacturers who are looking to improve the performance and efficiency of their vehicles.
• Investment in research and development: Industry participants and stakeholders are investing heavily in research and development in order to stay ahead of the competition and develop new and innovative electric actuators that meet the changing needs of consumers.

SWOT Analysis

Strengths:

• Growing demand for electric and hybrid vehicles is driving demand for electric actuators.
• Electric actuators offer improved efficiency and performance compared to traditional hydraulic or mechanical systems.
• Key market players are investing heavily in research and development in order to stay ahead of the competition.

Weaknesses:

• Electric actuators are often more expensive than traditional hydraulic or mechanical systems, which can make them less attractive to cost-conscious consumers.
• The limited range of electric vehicles compared to traditional gasoline-powered vehicles can limit their appeal to some consumers.

Opportunities:

• Increasing investment in research and development is creating new opportunities for the development of new and innovative electric actuators.
• Growing demand for commercial vehicles is creating new opportunities for the adoption of electric actuators in this segment.
• Expansion into emerging markets like China and India is creating new opportunities for growth in the automotive electric actuator market.

Threats:

• The high cost of electric actuators can make them less attractive to cost-conscious consumers.
• The lack of infrastructure, including charging stations and maintenance facilities, can make it difficult for consumers to adopt electric vehicles.

Market Key Trends

There are several key trends that are shaping the automotive electric actuator market, including:

• Increasing adoption of electric and hybrid vehicles: As more consumers switch to electric and hybrid vehicles, demand for electric actuators is expected to increase significantly.
• Investment in research and development: Key market players are investing heavily in research and development in order to stay ahead of the competition and develop new and innovative electric actuators.
• Expansion into emerging markets: As emerging markets like China and India begin to adopt electrification, there is significant potential for growth in the automotive electric actuator market in these regions.

Covid-19 Impact

The Covid-19 pandemic had a significant impact on the automotive industry, including the automotive electric actuator market. The pandemic led to a significant decline in demand for vehicles, particularly in the early months of the pandemic.

However, as the pandemic has continued, demand for electric and hybrid vehicles has continued to recover, and this has driven demand for electric actuators. The pandemic has also led to increased investment in research and development, as companies look for ways to improve the performance and efficiency of their vehicles.

There have also been challenges related to supply chain disruptions and manufacturing shutdowns, which have impacted the production of electric actuators. However, overall, the impact of the pandemic on the automotive electric actuator market has been relatively moderate compared to other segments of the automotive industry.

Key Industry Developments

There have been several key industry developments in the automotive electric actuator market in recent years, including:

• Increasing investment in research and development: Key market players are investing heavily in research and development in order to stay ahead of the competition and develop new and innovative electric actuators.
• Growing demand for commercial vehicles: As commercial vehicle manufacturers begin to adopt electrification, there is increasing demand for electric actuators in this segment.
• Expansion into emerging markets: As emerging markets like China and India begin to adopt electrification, there is significant potential for growth in the automotive electric actuator market in these regions.

Analyst Suggestions

Analysts suggest that key market players should focus on investment in research and development in order to stay ahead of the competition and develop new and innovative electric actuators that meet the changing needs of consumers. They also suggest that companies should focus on expanding their operations into emerging markets, where there is significant potential for growth.

Future Outlook

The future outlook for the automotive electric actuator market is positive, with significant growth expected in the coming years. The increasing adoption of electric and hybrid vehicles, along with investment in research and development and expansion into emerging markets, is expected to drive strong growth in the market.

Conclusion

The automotive electric actuator market is a dynamic and rapidly evolving industry, driven by the shift towards electrification in the automotive industry. While there are challenges facing the market, including the high cost of electric actuators and the limited range of electric vehicles, there are also significant opportunities for growth, particularly in emerging markets and through investment in research and development. Overall, the future outlook for the automotive electric actuator market is positive, with significant growth expected in the coming years.