Middle East & Africa Electric Vehicle Actuator Market is expected to reach US$ 29.47 million by 2028

Fuel Cell Electric Vehicle (FCEV) Segment is Expected to be Fastest Growing During Forecast Period for MEA Region

According to The Insight Partners market research study on “MEA 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$ 29.47 million by 2028 from US$ 16.53 million in 2020. The market is estimated to grow at a CAGR of 7.0 % from 2021 to 2028. The report provides trends prevailing in the MEA electric vehicle actuator market along with the drivers and restraints pertaining to the market growth. Growing demand for advanced automation systems in the vehicle and growing investments to acquire intra-vehicle connectivity data are the major factor driving the growth of the MEA electric vehicle actuator market. However, soaring scalability issues and capital costs hinders the growth of MEA electric vehicle actuator market.  

In case of COVID-19, MEA is highly affected especially South Africa. The electric vehicle actuator market in the MEA is majorly affected by the disruption in the supply chain. Owing to the various containment measure initiated by the government, such as travel restrictions, factory shutdown, and lockdowns, the supply, and distribution of electronics equipment had been hampered. The demand for electric vehicle actuator has weakened over the past couple of months, which has impacted the revenue streams of electric vehicle actuator players operating in this region. The global COVID-19 pandemic would have significant effects on global economies, but the region is anticipated to be especially impacted as there is already pressure on economy of various oil-based countries due to falling oil prices. In addition to this, the factory lockdowns, business shutdowns and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the estimated decline in MEA’s economic condition and impact of COVID-19 on growth of various industries in the region is expected to negatively impact the growth of electric vehicle actuator market in 2020 and 2021.

The MEA electric vehicle actuator market is segmented based on type, application, vehicle type, and country. Based on type, the MEA 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 MEA 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 MEA 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.

Continental AG; HELLA GmbH and Co. KGaA; Hitachi, Ltd.; Johnson Electric Holdings Limited; Mahle GmbH; Mitsubishi Electric Corporation; Nidec Corporation; and Robert Bosch GmbH are among the leading companies in the MEA 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, Bosch has launched an Electronic airbag control unit for cars. The bag gets fully inflated Within 30 milliseconds and can protect the driver and passengers.

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

MEA Electric Vehicle Actuator Market – By Type

• Hydraulic Actuator
• Electric Actuator
• Pneumatic Actuator

MEA Electric Vehicle Actuator Market – By Application

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

MEA 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)

MEA Electric Vehicle Actuator Market – By Country

• South Africa 
• Rest of MEA