Europe Electric Vehicle Actuator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and Vehicle Type

Europe Electric Vehicle Actuator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and Vehicle Type

  • May 2021 •
  • 130 pages •
  • Report ID: 6075666 •
  • Format: PDF
The Europe electric vehicle actuator market is expected to grow from US$ 135.02 million in 2020 to US$ 260.41 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The growing adoption of fuel-efficient vehicles across Europe will fuel the Europe electric vehicle actuator market growth. The increasing requirement for electronically advanced systems in vehicles, owing to the strict guideline announced by the governments across the Europe to fuel the efficiency, is one of the major drivers for the market growth. Moreover, rising production of vehicles and growing preference for smooth driving experience and high comfort are boosting the demand for different types of actuators. Currently, most light-duty vehicles are well equipped with mechanical or electric actuators. The diesel engines consume 10–20% less fuel as they have more efficient engine operations, whereas hybrid vehicles powered with gasoline have lower fuel consumption. The hybrid vehicle engine operates to its peak efficiency as well as accommodates an amount of energy from regenerative braking, which is triggered with the help of actuators. The electric vehicles (EVs) have the lowest energy consumption as they operate through battery that uses intrinsically higher efficiency of electric motors compared to internal combustion engines. Several manufacturers across Europe are focusing on ensuring the newly registered EU fleet regulations to limit the average CO2 emissions per km by 2030, as penalties would be issued for noncompliance. Growing implementation of standards by governments across Europe and mounting requirement of fuel-efficient vehicles are driving the Europe electric vehicle actuator market.

Europe, especially the UK, is highly affected by the COVID-19 outbreak.It has disrupted 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 COVID-19 virus 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 actuators 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 measures 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 hood segment led the Europe electric vehicle actuator market based on application in 2020.Linear actuators are generally integrated in hood or in bonnet, and they are used when a part of the vehicle requires to be lowered, lifted, opened, or closed.

To enhance pedestrian safety, the integration of actuators in the vehicle is increasing.For instance, the new Buick Regal is the first car across Europe to provide a high standard active-hood pedestrian safety system that senses the impending impact of a pedestrian from 25-48 km/h and integrates a pyrotechnic actuator to lift up the back of the hood by about 10 cm per milliseconds to diminish the influence and possibly reduce injury.

Advantages of actuators such as high-power density, fast operating speeds, and high thrust are expected to increase their demand for hood application, thereby driving the Europe electric vehicle actuator market.
The overall Europe 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 Europe electric vehicle actuator market.

The process also serves the purpose of obtaining overview and forecast for the Europe 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 Europe 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 the key players operating in the Europe electric vehicle actuator market.
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