North America Electric Vehicle Actuator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type, Application, and Vehicle Type

The North America electric vehicle actuator market is expected to grow from US$ 105.17 million in 2020 to US$ 193.16 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The escalating demand for advanced automation systems in vehicles is expected to boost the growth of the North America 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 market growth. With the advancement in technology, the automotive manufacturers across North America are investing on integrating the advanced system in the vehicles such as power window, hood openers, advanced braking system, and headlights. Also, there is an increase in technological advancements in the vehicles such as the advanced driver assistance systems (ADAS), like the automated brake assist, lane keep assist, and adaptive cruise control (ACC). 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. There is a rise in 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, owing to the increasing number of road accidents across North America. The vehicles installed with an 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 North America electric vehicle actuator market.

In North America, the US is the most affected country due to the COVID-19 outbreak. The growing number of infections has led the government to impose various containment measure such factories shut down, travel restrictions, closure of international borders, and lockdowns. The huge increase in the number of confirmed cases and rising reported deaths in the country is affecting both manufacturing and sales of materials associated with electric vehicle actuators. The region is expecting market recovery and economic improvement with the start of the COVID-19 vaccination. However, risk still remains due to the market uncertainties from tough business environment associated with unfavorable foreign exchange rate, raw material price, and logistics cost.

The hydraulic actuator segment led the North America electric vehicle actuator market based on type in 2020. The hydraulic actuator operates with the help of a piston, which consists of pressurized oil. The hydraulic actuator has a motorized pump that delivers fluid from a reservoir through a control valve(s) to opposite sides of a cylinder - the hydraulic actuator's high-power density, which allows fast operating speeds and high thrust. The hydraulics actuators tend to have a high initial price, as it requires routine maintenance that involves the periodic replacement of O-rings, seals, and other parts. The hydraulic actuator produce the movement from the displacement of fluids through a variable suspension system’s valve. The benefits of the hydraulic actuators such as high-power density, fast operating speeds, and high thrust are expected to increase their demand, thereby driving the North America electric vehicle actuator market.

The overall North America electric vehicle actuator market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America electric vehicle actuator market. The process also serves the purpose of obtaining overview and forecast for the North America electric vehicle actuator market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America electric vehicle actuator market. 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 key players operating in the North America electric vehicle actuator market.

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