The MEA electric vehicle actuator market is expected to grow from US$ 16.53 million in 2020 to US$ 29.47 million by 2028; it is estimated to grow at a CAGR of 7.0 % from 2021 to 2028.
South Africa is the major economy in MEA region with respect to this market. Growing demand for advanced automation systems in the vehicle is expected to fuel the MEA electric vehicle actuator market. The integration of automotive actuators for performing various functions, such as HVAC, braking, throttling, operating the headlight, closures, and electronic clutch actuation in vehicles, is boosting the MEA market growth. With the advancement in technology, the automotive manufacturers across MEA region are investing on integrating the advanced system in the vehicles such as power window, hood openers, advanced braking system, and headlights. Also, there is increased technological advancements, such as the advanced driver assistance systems (ADAS), like the automated brake assist, lane keep assist, and adaptive cruise control (ACC) in the vehicles. At present, advanced features such as the adaptive front-lighting system (AFS), adaptive cruise control (ACC), and advanced driver assistance systems (ADAS), are being majorly deployed in modern vehicles, which are integrated with different actuators to perform unique tasks to comfort the driver as well as passengers. The increasing demand for safety features, such as telematics, collision avoidance systems, electronic stability control, tire pressure monitors, lane departure warnings, traction control, airbags, and parking assistance, is in demand owing to the rising number of road accidents. The vehicles with an installed advanced technological system can detect and categorize specific objects on the road, alert the driver corresponding to the road conditions, and at times automatically decelerate or stop the vehicle. Thus, technological advancements in the multifunctional system's automotive and production are projected to drive the growth of the 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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA electric vehicle actuator market. The MEA electric vehicle actuator market is expected to grow at a good CAGR during the forecast period.
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MEA Electric Vehicle Actuator Market Segmentation
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
MEA Electric Vehicle Actuator Market -Companies Mentioned
- Continental AG
- HELLA GmbH and Co. KGaA
- Hitachi, Ltd.
- Johnson Electric Holdings Limited
- Mahle GmbH
- Mitsubishi Electric Corporation
- Nidec Corporation
- Robert Bosch GmbH
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Saudi Arabia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Electric Vehicle Actuator Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA Electric Vehicle Actuator Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Mounting Requirement of Fuel-Efficient Vehicles
5.1.2 Growing Demand for Advanced Automation Systems in the Vehicle
5.2 Market Restraints
5.2.1 Soaring Scalability Issues and Capital Costs
5.3 Market Opportunities
5.3.1 Surging Adoption of Switchable Electrochromic and Glazing Sunroof
5.4 Future Trends
5.4.1 Growing Investments to Acquire Intra-Vehicle Connectivity Data
5.5 Impact Analysis of Drivers and Restraints
6. Electric Vehicle Actuator Market – MEA Analysis
6.1 MEA Electric Vehicle Actuator Market Overview
6.2 MEA Electric Vehicle Actuator Market Forecast and Analysis
7. MEA Electric Vehicle Actuator Market Revenue and Forecast to 2028 – By Type
7.1 Overview
7.2 MEA Electric Vehicle Actuator Market Breakdown, By Type, 2020 and 2028
7.3 Hydraulic Actuator
7.3.1 Overview
7.3.2 Hydraulic Actuator Market Forecast and Analysis
7.4 Electric Actuator
7.4.1 Overview
7.4.2 Electric Actuator Market Forecast and Analysis
7.5 Pneumatic Actuator
7.5.1 Overview
7.5.2 Pneumatic Actuator Market Forecast and Analysis
8. MEA Electric Vehicle Actuator Market Revenue and Forecast to 2028 –By Application
8.1 Overview
8.2 MEA Electric vehicle actuator market Breakdown, by Application, 2020 and 2028
8.3 HVAC
8.3.1 Overview
8.3.2 HVAC Market Revenue and Forecast to 2028 (US$ Million)
8.4 Headlights
8.4.1 Overview
8.4.2 Headlights Market Revenue and Forecast to 2028 (US$ Million)
8.5 Brakes
8.5.1 Overview
8.5.2 Brakes Market Revenue and Forecast to 2028 (US$ Million)
8.6 Grill Shutter
8.6.1 Overview
8.6.2 Grill Shutter Market Revenue and Forecast to 2028 (US$ Million)
8.7 Mirrors
8.7.1 Overview
8.7.2 Mirrors Market Revenue and Forecast to 2028 (US$ Million)
8.8 Hood
8.8.1 Overview
8.8.2 Hood Market Revenue and Forecast to 2028 (US$ Million)
8.9 Trunk
8.9.1 Overview
8.9.2 Trunk Market Revenue and Forecast to 2028 (US$ Million)
8.10 Others
8.10.1 Overview
8.10.2 Others Market Revenue and Forecast to 2028 (US$ Million)
9. MEA Electric Vehicle Actuator Market Revenue and Forecast to 2028 – By Vehicle Type
9.1 Overview
9.2 MEA Electric Vehicle Actuator Market Breakdown, by Vehicle Type, 2020 and 2028
9.3 Battery Electric Vehicle (BEV)
9.3.1 Overview
9.3.2 Battery Electric Vehicle (BEV) Market Forecast and Analysis
9.4 Plug-in Hybrid Vehicle (PHEV)
9.4.1 Overview
9.4.2 Plug-in Hybrid Vehicle (PHEV) Market Forecast and Analysis
9.5 Hybrid Electric Vehicle (HEV)
9.5.1 Overview
9.5.2 Hybrid Electric Vehicle (HEV) Market Forecast and Analysis
9.6 Fuel Cell Electric Vehicle (FCEV)
9.6.1 Overview
9.6.2 Fuel Cell Electric Vehicle (FCEV) Market Forecast and Analysis
10. MEA Electric Vehicle Actuator Market – Country Analysis
10.1 Overview
10.1.1 MEA: Electric Vehicle Actuator Market, by Key Country
10.1.1.1 South Africa: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 South Africa: Electric Vehicle Actuator Market, by Type
10.1.1.1.2 South Africa: Electric Vehicle Actuator Market, by Application
10.1.1.1.3 South Africa: Electric Vehicle Actuator Market, by Vehicle Type
10.1.1.2 Rest of MEA: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Rest of MEA: Electric Vehicle Actuator Market, by Type
10.1.1.2.2 Rest of MEA: Electric Vehicle Actuator Market, by Application
10.1.1.2.3 Rest of MEA: Electric Vehicle Actuator Market, by Vehicle Type
11. Impact of COVID-19 Pandemic on MEA Electric Vehicle Actuator Market
11.1 MEA: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
13. Company Profiles
13.1 Mahle GmbH
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Mitsubishi Electric Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Hitachi, Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Nidec Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Robert Bosch GmbH
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Continental AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 HELLA GmbH and Co. KGaA
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Johnson Electric Holdings Limited
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. MEA Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA Electric Vehicle Actuator Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Rest of MEA: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Rest of MEA: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of MEA: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Electric Vehicle Actuator Market Segmentation
Figure 2. MEA Electric Vehicle Actuator Market Segmentation – By Country
Figure 3. MEA Electric Vehicle Actuator Market Overview
Figure 4. Hydraulic Actuator Segment held the Largest Share of MEA Electric Vehicle Actuator Market
Figure 5. Hood Segment held the Largest Share of MEA Electric Vehicle Actuator Market
Figure 6. Hybrid Electric Vehicle (HEV) segment held the Largest Share of MEA Electric Vehicle Actuator Market
Figure 7. South Africa to Show Great Traction During Forecast Period
Figure 8. MEA: PEST Analysis
Figure 9. MEA Electric Vehicle Actuator Market, Ecosystem
Figure 10. MEA Electric Vehicle Actuator Market: Impact Analysis of Drivers and Restraints
Figure 11. MEA Electric Vehicle Actuator Market Forecast and Analysis (US$ Million)
Figure 12. MEA Electric Vehicle Actuator Market Breakdown, By Type, 2020 and 2028 (%)
Figure 13. MEA Hydraulic Actuator Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. MEA Electric Actuator Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. MEA Pneumatic Actuator Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. MEA Electric vehicle actuator market Breakdown, By Application (2020 and 2028)
Figure 17. MEA HVAC Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. MEA Headlights Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. MEA Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. MEA Grill Shutter Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. MEA Mirrors Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. MEA Hood Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. MEA Trunk Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. MEA Others Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. MEA Electric Vehicle Actuator Market Breakdown, by Vehicle Type, 2020 and 2028 (%)
Figure 26. MEA Battery Electric Vehicle (BEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. MEA Plug-in Hybrid Vehicle (PHEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. MEA Hybrid Electric Vehicle (HEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. MEA Fuel Cell Electric Vehicle (FCEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. MEA: Electric Vehicle Actuator Market, by Key Country – Revenue (2020) (USD Million)
Figure 31. MEA: Electric Vehicle Actuator Market Revenue Share, by Key Country (2020 and 2028)
Figure 32. South Africa: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Rest of MEA: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Impact of COVID-19 Pandemic in MEA Country Markets
- Continental AG
- HELLA GmbH and Co. KGaA
- Hitachi, Ltd.
- Johnson Electric Holdings Limited
- Mahle GmbH
- Mitsubishi Electric Corporation
- Nidec Corporation
- Robert Bosch GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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