Europe Electric Vehicle Actuator Market is expected to reach US$ 260.41 million by 2028

Hood Segment to Dominate Europe Electric Vehicle Actuator Market During 2020–2028

 According to The Insight Partners market research study on “Europe 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$ 260.41 million by 2028 from US$ 135.02 million in 2020. The market is estimated to grow at a CAGR of 8.1 % from 2021 to 2028. The report provides trends prevailing in the Europe electric vehicle actuator market along with the drivers and restraints pertaining to the market growth. Rising demand for advanced automation systems in the vehicle and growing adoption of fuel-efficient vehicles are the major factor driving the growth of the Europe electric vehicle actuator market. However, increasing scalability issues and capital costs hinders the growth of Europe electric vehicle actuator market.  

In case of COVID-19 Europe is highly affected specially the UK. The outbreak of the virus has distrusted the supply chain in various countries in this region. The member states of Europe such as Italy, Spain and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a major share in the market as this region has the highest road safety standards in world. However, due the disrupted supply chain of hardware components of electric vehicle actuator, the market has been significantly affected as deployment of electric vehicle actuator has been delayed. However, due to COVID-19, the manufacturing of various consumer electronics devices and production of automobiles have seen a sharp decline in European countries and is expected to be under stress in 2020 and it will require time to stabilize. Furthermore, the recent imposition of containment measure owing to the spread of newly mutated strain might further hamper the market in this region. Thus, the spread of newly mutated strain of COVID-19 is anticipated to affect the electric vehicle actuator market till first two quarters of 2021.

The Europe electric vehicle actuator market is segmented based on type, application, vehicle type, and country. Based on type, the Europe 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 Europe 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 Europe 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 Europe 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 2021, Vitesco Technologies is manufacturing electrical catalyst heating for high-voltage hybrid vehicles.

The report segments the Europe Electric Vehicle Actuator Market as follows: 

Europe Electric Vehicle Actuator Market – By Type

• Hydraulic Actuator
• Electric Actuator
• Pneumatic Actuator

Europe Electric Vehicle Actuator Market – By Application

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

Europe 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)

Europe Electric Vehicle Actuator Market – By Country

• Germany
• France
• Italy
• UK
• Russia 
• Rest of Europe