Global Automotive Electric Actuators Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Automotive Electric Actuators Market is estimated to be USD 7.82 Bn in 2023 and is expected to reach USD 10.04 Bn by 2028 growing at a CAGR of 5.13%.

The Global Electric Actuators Market is undergoing significant transformations driven by various factors. Increasing environmental consciousness and stringent emissions regulations across the globe have fueled the demand for fuel-efficient vehicles. Electric actuators are vital in increasing engine and driving efficiency, consistent with automaker goals to meet these stringent regulations. In addition, electric motors contribute to fuel use decreases, making it an important compliance factor. As the automotive industry increasingly moves toward hybrid electric vehicles, the demand for electrical workers is expected to increase dramatically. Markets offering newer and more energy-efficient machines will be well-positioned to meet this growing demand.

One of the major challenges facing the global electric actuators market is the high initial cost of devices associated with users. Automotive Electric Actuators are sophisticated products that require precision engineering and advanced materials, resulting in high manufacturing costs. Furthermore, integrating electricians into vehicles requires specialized knowledge and expertise, increasing costs. But it’s important to realize that while the initial investment may be high, long-term benefits include improved fuel efficiency and reduced maintenance. The environment compliance standards tend to exceed upfront costs and focus on cost optimization.

Market Segmentations

• The Global Automotive Electric Actuators Market is segmented based on Product, Valve, Application, Vehicles, and Geography.
• The automotive electric actuators market employs a systematic segmentation approach based on various criteria. Firstly, it categorizes its products into two primary types: linear electric actuators and rotary electric actuators. These actuators serve diverse functions within the automotive sector.
• Secondly, the market segments applications into three key categories: engine-related functions, body and exterior components, and interior systems. These distinctions allow for tailored solutions to address the specific needs of each application.
• Thirdly, the market classifies vehicles into different segments, encompassing passenger vehicles, commercial vehicles, and other specialized categories. This segmentation ensures that electric actuators are adapted to suit the unique requirements of various vehicle types.
• Lastly, the market distinguishes between sales channels, including Original Equipment Manufacturers (OEM) and the aftermarket. This separation helps streamline the distribution and availability of electric actuators to meet manufacturing and replacement demands in the automotive industry.

Recent Developments

• RISE Robotics developed an electric actuator named RISE Cylinder that can overcome several challenges associated with hydraulic systems. Integration of this technology minimizes the power drain on batteries and significantly enhances electric vehicles' performance and energy consumption. - February 2021

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Aptiv PLC, BorgWarner Inc., Continental AG, CTS Corporation, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Automotive Electric Actuators Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Automotive Electric Actuators Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Electric Actuators Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market