Asia-Pacific Electric Vehicle Actuator Market is expected to reach US$ 629.78 million by 2028

Hybrid Electric Vehicle (HEV) Segment to Dominate APAC Electric Vehicle Actuator Market During 2020–2028

According to The Insight Partners market research study on “APAC 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$ 629.78 million by 2028 from US$ 303.22 million in 2020. The market is estimated to grow at a CAGR of 9.1 % from 2021 to 2028. The report provides trends prevailing in the APAC electric vehicle actuator market along with the drivers and restraints pertaining to the market growth. Rise in the adoption of switchable electrochromic and glazing sunroof and surging investments to acquire intra-vehicle connectivity data are the major factor driving the growth of the APAC electric vehicle actuator market. However, escalating scalability issues and capital costs hinders the growth of APAC electric vehicle actuator market.  

In case of COVID-19, APAC is highly affected specially India. The containment measure undertaken by the governments in this region has negatively affected the automotive and electronics sector. China is the leading manufacturing country in this region and is among the worst-hit country along with India which has ultimately impacted the production of automotive and electronics equipment. Further, due the interruption in supply chain and logistics the procurement rate of various automotive and electronics equipment including hardware components of electric vehicle actuator has been quite affected. In India, South Korea, Japan, Vietnam, and others have witnessed a sharp decline in the production of automotive and electric vehicle. In addition to this, APAC is an also a global manufacturing hub with countries such as China, Japan, South Korea, and India leading the global manufacturing industry growth. The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries in the region. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries, and it is one of the worst affected COVID-19 countries. Hence, the ongoing disruptions in supply of raw materials & components and also demand from China & other Asian countries is expected to impact the growth of the electric vehicle actuator market in coming quarters.

The APAC electric vehicle actuator market is segmented based on type, application, vehicle type, and country. Based on type, the APAC 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 APAC 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 APAC 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 APAC 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 2019, Hella sells its relay business unit to Hongfa. The objective to sell the unit was to focus more strongly on the company’s electric mobility and autonomous driving business unit.

APAC Electric Vehicle Actuator Market – By Type

• Hydraulic Actuator
• Electric Actuator
• Pneumatic Actuator

APAC Electric Vehicle Actuator Market – By Application

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

APAC 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)

APAC Electric Vehicle Actuator Market – By Country

• China
• India  
• Japan  
• South Korea
• Rest of APAC