Electric Vehicle Actuator Market to Grow at a CAGR of 8.5% to reach US$ 1,164.71 million from 2020 to 2028
The electric vehicle actuator market was valued at US$ 585.61 million in 2020 and is projected to reach US$ 1,164.71 million by 2028; it is expected to grow at a CAGR of 8.5% from 2021 to 2028.
An actuator is a component of a device responsible for controlling a mechanism. Actuators are used in rock & pinion arrangements, ball screws, motors, cylinders, and other components. Electrical actuators are increasingly replacing hydraulic and pneumatic actuators because they are more efficient and controllable. The electric vehicle actuator market has grown because of increased investments, particularly in the European region. Furthermore, increased government regulations for reducing vehicle emissions have increased the demand for fuel-efficient vehicles, which would provide growth opportunities for the market. The demand for electric vehicles with advanced features and connectivity is growing in tandem with automation and digitalization in the automotive industry. However, high capital cost of electric vehicles or risk of component failure could stymie the growth of the electric vehicle actuator market during the forecast period (2021 to 2028). With the advent of Industry 4.0 and Internet of Things (IoT), these technologies are becoming progressively mainstream across the automotive sector. The escalating adoption of electric vehicles (EVs) is fueling the adoption and integration of IoT. However, the data integration issues for collaborative and connected vehicle applications are creating a challenge for companies present in the automotive electric actuator market. Further, the automotive electric actuator market is highly competitive with the presence of leading players that account for a significant market stake. These market players are further supporting the integration of IoT in EVs. Hence, IoT integration is becoming increasingly prominent across internal networks and intra-vehicle connectivity, to share data precisely among actuators, electronic control units (ECUs), and sensors. Therefore, the lack of EV data sources and charging station networks across the developing countries represents a barrier to the market's growth.
APAC dominated the electric vehicle actuator market in 2020, Factors such as extensive adoption of premium cars, sedans, and SUVs among the APAC population contribute significantly to the region’s major market share. Further, General Motors Holden, Toyota Motor Corporation Australia Limited, Ford Motor Company of Australia Limited, Mitsubishi Motors Australia Ltd. (MMAL), Isuzu Australia Limited, Hyundai Commercial Vehicles Australia, and Volkswagen Group Australia Pty Ltd. are among the well-known manufacturers of commercial vehicles in the country. All these manufacturers are demanding the integration of electric vehicle actuators in the cars to meet the emerging requirements from the customers. Moreover, escalating automotive manufacturing operations, rising demand for electric vehicles, and growing focus of the electric vehicle actuators manufacturers toward offering low-cost and high-efficiency products is expected to drive the electric vehicle actuators market in the Rest of APAC countries during the forecast period.
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Electric Vehicle Actuator Market: Strategic Insights
Market Size Value in US$ 585.61 Million in 2020 Market Size Value by US$ 1,164.71 Million by 2028 Growth rate CAGR of 8.5% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Electric Vehicle Actuator Market: Strategic Insights
| Market Size Value in | US$ 585.61 Million in 2020 |
| Market Size Value by | US$ 1,164.71 Million by 2028 |
| Growth rate | CAGR of 8.5% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Electric Vehicle Actuator Market
The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of electronics equipment, including the hardware component of electric vehicle actuators. The emergence of COVID-19 virus across the globe, followed by lockdown scenarios, has led the industry experts to analyze that the industry would face at least a quarter of lag in electronics equipment supply chain. This disruption is expected to create tremors through till mid-2021. The electronics equipment and automotive industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily in order to revive the economy. The production of the electronics equipment and automotive is anticipated to gain pace from 2021 which is further foreseen to positively influence the electronics equipment and automotive manufacturing, including hardware components of electric vehicle actuators.
Market Insights
Escalating Adoption of Fuel-Efficient Vehicles
Increasing demand for electronically advanced systems in vehicles is one of the major drivers for the market. 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 of the light-duty vehicles are well equipped with mechanical or electric actuators. Their 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. Electric vehicles (EVs) have the lowest energy consumption as they operate through battery that uses electric motors with intrinsically higher efficiency compared to internal combustion engines. Several manufacturers worldwide are focusing on ensuring the EU fleet regulations to limit with the average CO2 emissions per km by 2030, as penalties would be issued for noncompliance. The selling of EVs offers the original equipment manufacturers (OEMs) the opportunity to meet their targets with extra credits and make compliance easier by reducing the limit’s stringency up to 5%.
Type-Based Market Insights
Based on type, the global electric vehicle actuator market is segmented into hydraulic actuator, electric actuator, and pneumatic actuator. The hydraulic actuators produce the movement from the displacement of fluids through the valves of a variable suspension system.
Application-Based Market Insights
Based on application, the electric vehicle actuator market is segmented into HVAC, headlights, brakes, grill shutter, mirrors, hood, trunk, and others. Linear actuators are most widely employed when a part of a vehicle requires to be lowered, lifted, opened, or closed. To enhance pedestrian safety, the integration of actuators in the vehicle is increasing.
Vehicle Type-Based Market Insights
Based on vehicle type, the 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). A hybrid electric vehicle (HEV) is a complex system that integrates electronic, chemical, mechanical, and thermodynamic technologies. When an HEV is in movement, control and data are transformed by various flows. Moreover, in HEVs, a hybrid drive motor is positioned between the engine and the automatic transmission, engaging in power transmission. In other words, the motor's power and the power of the driving engine generate power together, which is transmitted to the wheels. In parallel hybrids, the electric engine and internal combustion engine (ICE) are both associated with mechanical transmission.
Product development is the commonly adopted strategy by companies to expand their product portfolio. Hella GMBH, Summer Infant, Vitesco Technologies, BorgWarner, and Bosch are among the key players implementing strategies to enlarge the customer base and gain significant share in the global electric vehicle actuator market, which, in turn, permits them to maintain their brand name. A few of the recent key developments are:
- In February 2021, Vitesco Technologies is manufacturing electrical catalyst heating for high-voltage hybrid vehicles.
- In November 2020, Bosch launched an Electronic airbag control unit for cars. The bag gets fully inflated within 30 milliseconds and can protect the driver and passengers.
Electric Vehicle Actuator Market Report Scope
Electric Vehicle Actuator Market Segmentation:
By Type
- Hydraulic Actuator
- Electric Actuator
- Pneumatic Actuator
By Application
- HVAC
- Headlights
- Brakes
- Grill Shutter
- Mirrors
- Hood
- Trunk
- Others
By Vehicle Type
- Battery Electric Vehicle (BEV),
- Plug-in Hybrid Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Fuel Cell Electric Vehicle (FCEV))
Company Profiles
- Robert Bosch GMBH
- Continental AG
- HELLA GMBH AND CO. KGAA
- Johnson Electric
- Stoneridge Inc
- Hitachi Automotive Systems, LTD.
- Borgwarner INC.
- Mahle GMBH
- Mitsubishi Electric Corporation
- Nidec Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Application , and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argnetina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States
Frequently Asked Questions
A hybrid electric vehicle (HEV) is a complex system that integrates electronic, chemical, mechanical, and thermodynamic technologies. When an HEV is in movement, control and data are transformed by various flows. Moreover, in HEVs, a hybrid drive motor is positioned between the engine and the automatic transmission, engaging in power transmission. In other words, the motor's power and the power of the driving engine produce combined power transmitted to the wheels through the transmission. In parallel hybrids, the electric engine and ICE are both associated with mechanical transmission.
The automotive manufacturers are investing in the adoption of chromogenic technology for the development of advanced vehicle glazing. The technology can dynamically change how the transmittance of the sunroof. Glazing chromogenic technology can make an interior comfortable and adjustable as per the driver’s requirement and fluctuating visual environment. This technology can provide excellent safety by the virtual elimination of glare and reflections with an actuation system. The application to automotive glazing is one of the most recent and advanced technology in the market, owing to smaller sizes than commercial windows, and the lifetime is less (7 years is the average lifetime).
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 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.
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. Electric Vehicle Actuator Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Electric Vehicle Actuator Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Escalating Adoption of Fuel-Efficient Vehicles
5.1.2 Increasing 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 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 – Global Market Analysis
6.1 Electric Vehicle Actuator Market Overview
6.2 Electric Vehicle Actuator Market Forecast and Analysis
6.3 Market Positioning – Global Key Players
7. Electric Vehicle Actuator Market Revenue and Forecast to 2028 – Type
7.1 Overview
7.2 Electric Vehicle Actuator Market Breakdown, By Vehicle 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. Electric Vehicle Actuator Market Analysis –By Application
8.1 Overview
8.2 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. Electric Vehicle Actuator Market Revenue and Forecast to 2028 – Vehicle Type
9.1 Overview
9.2 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. Electric Vehicle Actuator Market – Geographic Analysis
10.1 Overview
10.2 North America: Electric Vehicle Actuator Market
10.2.1 North America: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.2.2 North America: Electric Vehicle Actuator Market, by Type
10.2.3 North America: Electric Vehicle Actuator Market, by Application
10.2.4 North America: Electric Vehicle Actuator Market, by Vehicle Type
10.2.5 North America: Electric Vehicle Actuator Market, by Key Country
10.2.5.1 US: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.1.1 US: Electric Vehicle Actuator Market, by Type
10.2.5.1.2 US: Electric Vehicle Actuator Market, by Application
10.2.5.1.3 US: Electric Vehicle Actuator Market, by Vehicle Type
10.2.5.2 Canada: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.2.1 Canada: Electric Vehicle Actuator Market, by Type
10.2.5.2.2 Canada: Electric Vehicle Actuator Market, by Application
10.2.5.2.3 Canada: Electric Vehicle Actuator Market, by Vehicle Type
10.2.5.3 Mexico: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.3.1 Mexico: Electric Vehicle Actuator Market, by Type
10.2.5.3.2 Mexico: Electric Vehicle Actuator Market, by Application
10.2.5.3.3 Mexico: Electric Vehicle Actuator Market, by Vehicle Type
10.3 Europe: Electric Vehicle Actuator Market
10.3.1 Europe: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.2 Europe: Electric Vehicle Actuator Market, by Type
10.3.3 Europe: Electric Vehicle Actuator Market, by Application
10.3.4 Europe: Electric Vehicle Actuator Market, by Vehicle Type
10.3.5 Europe: Electric Vehicle Actuator Market, by Key Country
10.3.5.1 Germany: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.1.1 Germany: Electric Vehicle Actuator Market, by Type
10.3.5.1.2 Germany: Electric Vehicle Actuator Market, by Application
10.3.5.1.3 Germany: Electric Vehicle Actuator Market, by Vehicle Type
10.3.5.2 France: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.2.1 France: Electric Vehicle Actuator Market, by Type
10.3.5.2.2 France: Electric Vehicle Actuator Market, by Application
10.3.5.2.3 France: Electric Vehicle Actuator Market, by Vehicle Type
10.3.5.3 Italy: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.3.1 Italy: Electric Vehicle Actuator Market, by Type
10.3.5.3.2 Italy: Electric Vehicle Actuator Market, by Application
10.3.5.3.3 Italy: Electric Vehicle Actuator Market, by Vehicle Type
10.3.5.4 UK: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.4.1 UK: Electric Vehicle Actuator Market, by Type
10.3.5.4.2 UK: Electric Vehicle Actuator Market, by Application
10.3.5.4.3 UK: Electric Vehicle Actuator Market, by Vehicle Type
10.3.5.5 Russia: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.5.1 Russia: Electric Vehicle Actuator Market, by Type
10.3.5.5.2 Russia: Electric Vehicle Actuator Market, by Application
10.3.5.5.3 Russia: Electric Vehicle Actuator Market, by Vehicle Type
10.3.5.6 Rest of Europe: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.6.1 Rest of Europe: Electric Vehicle Actuator Market, by Type
10.3.5.6.2 Rest of Europe: Electric Vehicle Actuator Market, by Application
10.3.5.6.3 Rest of Europe: Electric Vehicle Actuator Market, by Vehicle Type
10.4 Asia Pacific: Electric Vehicle Actuator Market
10.4.1 Asia Pacific: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.4.2 Asia Pacific: Electric Vehicle Actuator Market, by Type
10.4.3 Asia Pacific: Electric Vehicle Actuator Market, by Application
10.4.4 Asia Pacific: Electric Vehicle Actuator Market, by Vehicle Type
10.4.5 Asia Pacific: Electric Vehicle Actuator Market, by Key Country
10.4.5.1 China: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.1.1 China: Electric Vehicle Actuator Market, by Type
10.4.5.1.2 China: Electric Vehicle Actuator Market, by Application
10.4.5.1.3 China: Electric Vehicle Actuator Market, by Vehicle Type
10.4.5.2 India: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.2.1 India: Electric Vehicle Actuator Market, by Type
10.4.5.2.2 India: Electric Vehicle Actuator Market, by Application
10.4.5.2.3 India: Electric Vehicle Actuator Market, by Vehicle Type
10.4.5.3 Japan: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.3.1 Japan: Electric Vehicle Actuator Market, by Type
10.4.5.3.2 Japan: Electric Vehicle Actuator Market, by Application
10.4.5.3.3 Japan: Electric Vehicle Actuator Market, by Vehicle Type
10.4.5.4 South Korea: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.4.1 South Korea: Electric Vehicle Actuator Market, by Type
10.4.5.4.2 South Korea: Electric Vehicle Actuator Market, by Application
10.4.5.4.3 South Korea: Electric Vehicle Actuator Market, by Vehicle Type
10.4.5.5 Rest of Asia Pacific: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.5.1 Rest of Asia Pacific: Electric Vehicle Actuator Market, by Type
10.4.5.5.2 Rest of Asia Pacific: Electric Vehicle Actuator Market, by Application
10.4.5.5.3 Rest of Asia Pacific: Electric Vehicle Actuator Market, by Vehicle Type
10.5 Middle East & Africa (MEA): Electric Vehicle Actuator Market
10.5.1 MEA: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.5.2 MEA: Electric Vehicle Actuator Market, by Type
10.5.3 MEA: Electric Vehicle Actuator Market, by Application
10.5.4 MEA: Electric Vehicle Actuator Market, by Vehicle Type
10.5.5 MEA: Electric Vehicle Actuator Market, by Key Country
10.5.5.1 South Africa: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.1.1 South Africa: Electric Vehicle Actuator Market, by Type
10.5.5.1.2 South Africa: Electric Vehicle Actuator Market, by Application
10.5.5.1.3 South Africa: Electric Vehicle Actuator Market, by Vehicle Type
10.5.5.2 Rest of MEA: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.2.1 Rest of MEA: Electric Vehicle Actuator Market, by Type
10.5.5.2.2 Rest of MEA: Electric Vehicle Actuator Market, by Application
10.5.5.2.3 Rest of MEA: Electric Vehicle Actuator Market, by Vehicle Type
10.6 South America: Electric Vehicle Actuator Market
10.6.1 South America: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.6.2 South America: Electric Vehicle Actuator Market, by Type
10.6.3 South America: Electric Vehicle Actuator Market, by Application
10.6.4 South America: Electric Vehicle Actuator Market, by Vehicle Type
10.6.5 South America: Electric Vehicle Actuator Market, by Key Country
10.6.5.1 Brazil: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.1.1 Brazil: Electric Vehicle Actuator Market, by Type
10.6.5.1.2 Brazil: Electric Vehicle Actuator Market, by Application
10.6.5.1.3 Brazil: Electric Vehicle Actuator Market, by Vehicle Type
10.6.5.2 Argentina: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.2.1 Argentina: Electric Vehicle Actuator Market, by Type
10.6.5.2.2 Argentina: Electric Vehicle Actuator Market, by Application
10.6.5.2.3 Argentina: Electric Vehicle Actuator Market, by Vehicle Type
10.6.5.3 Rest of SAM: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.3.1 Rest of SAM: Electric Vehicle Actuator Market, by Type
10.6.5.3.2 Rest of SAM: Electric Vehicle Actuator Market, by Application
10.6.5.3.3 Rest of SAM: Electric Vehicle Actuator Market, by Vehicle Type
11. Impact of COVID-19 Pandemic on Global Electric Vehicle Actuator Market
11.1 Overview
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
13. Company Profiles
13.1 BorgWarner Inc.
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 Mahle GmbH
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 Mitsubishi Electric Corporation
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 Hitachi, Ltd.
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 Nidec Corporation
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 Robert Bosch GmbH
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 Continental AG
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 HELLA GmbH and Co. KGaA
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
13.9 Johnson Electric Holdings Limited
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Stoneridge , Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America Electric Vehicle Actuator Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Electric Vehicle Actuator Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. US: Electric Vehicle Actuator Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 8. US: Electric Vehicle Actuator Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: Electric Vehicle Actuator Market, by Vehicle Type –Revenue and Forecast to 2028 (Canada$ Million)
Table 12. Mexico: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: Electric Vehicle Actuator Market, by Vehicle Type –Revenue and Forecast to 2028 (Mexico$ Million)
Table 15. Europe: Electric Vehicle Actuator Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 16. Europe: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 17. Europe: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 18. Europe Electric Vehicle Actuator Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 19. Germany: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Germany: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 21. Germany: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 22. France: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 23. France: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 24. France: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. Italy: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 26. Italy: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 27. Italy: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 28. UK: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 29. UK: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 30. UK: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 31. Russia: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 32. Russia: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 33. Russia: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 34. Rest of Europe: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Europe: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 36. Rest of Europe: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 37. Asia Pacific: Electric Vehicle Actuator Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 38. Asia Pacific: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 39. Asia Pacific: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 40. Asia Pacific Electric Vehicle Actuator Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 41. China: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 42. China: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 43. China: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 44. India: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 45. India: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 46. India: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 47. Japan: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 48. Japan: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 49. Japan: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 50. South Korea: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 51. South Korea: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 52. South Korea: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 53. Rest of Asia Pacific: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 54. Rest of Asia Pacific: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 55. Rest of Asia Pacific: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 56. MEA: Electric Vehicle Actuator Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 57. MEA: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 58. MEA: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 59. MEA Electric Vehicle Actuator Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 60. South Africa: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 61. South Africa: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 62. South Africa: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 63. Rest of MEA: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 64. Rest of MEA: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 65. Rest of MEA: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 66. South America: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 67. South America: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 68. South America: Electric Vehicle Actuator Market, by Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 69. South America Electric Vehicle Actuator Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 70. Brazil: Electric Vehicle Actuator Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 71. Brazil: Electric Vehicle Actuator Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 72. Brazil: Electric Vehicle Actuator Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 73. Argentina: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 74. Argentina: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 75. Argentina: Electric Vehicle Actuator Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 76. Rest of SAM: Electric Vehicle Actuator Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 77. Rest of SAM: Electric Vehicle Actuator Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 78. Rest of SAM: Electric Vehicle Actuator Market, by Vehicle Type –Revenue and Forecast to 2028 (Rest of SAM$ Million)
Table 79. List of Abbreviation
LIST OF FIGURES
Figure 1. Electric Vehicle Actuator Market Segmentation
Figure 2. Electric Vehicle Actuator Market Segmentation – By Geography
Figure 3. Global Electric Vehicle Actuator Market Overview
Figure 4. Hydraulic Actuator Segment held the Largest Share of Electric Vehicle Actuator Market
Figure 5. Hood Segment held the Largest Share of Electric Vehicle Actuator Market
Figure 6. Plug-in Hybrid Vehicle (PHEV) segment held the Largest Share of Electric Vehicle Actuator Market
Figure 7. APAC to Show Great Traction During Forecast Period
Figure 8. North America – PEST Analysis
Figure 9. Europe – PEST Analysis
Figure 10. Asia-Pacific- PEST Analysis
Figure 11. MEA: PEST Analysis
Figure 12. South America- PEST Analysis
Figure 13. Electric Vehicle Actuator Market, Ecosystem
Figure 14. Electric Vehicle Actuator Market: Impact Analysis of Drivers and Restraints
Figure 15. Electric Vehicle Actuator Market – Geographic Analysis
Figure 16. Electric Vehicle Actuator Market Forecast and Analysis (US$ Million)
Figure 17. Electric Vehicle Actuator Market Breakdown, By Vehicle Type, 2020 and 2028 (%)
Figure 18. Hydraulic Actuator Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Electric Actuator Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Pneumatic Actuator Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Electric vehicle actuator market Breakdown, By Application (2020 and 2028)
Figure 22. HVAC Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Headlights Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Grill Shutter Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mirrors Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Hood Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Trunk Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Others Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Electric Vehicle Actuator Market Breakdown, by Vehicle Type, 2020 and 2028 (%)
Figure 31. Battery Electric Vehicle (BEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 32. Plug-in Hybrid Vehicle (PHEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 33. Hybrid Electric Vehicle (HEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 34. Fuel Cell Electric Vehicle (FCEV) Market Revenue and Forecast to 2028 (US$ Million)
Figure 35. Global Electric Vehicle Actuator Market Revenue Share, by Region (2020 and 2028)
Figure 36. North America: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. North America: Electric Vehicle Actuator Market Revenue Share, by Type (2020 and 2028)
Figure 38. North America: Electric Vehicle Actuator Market Revenue Share, by Application (2020 and 2028)
Figure 39. North America: Electric Vehicle Actuator Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 40. North America: Electric Vehicle Actuator Market Revenue Share, by Key Country (2020 and 2028)
Figure 41. US: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Canada: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Mexico: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Europe: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Europe: Electric Vehicle Actuator Market Revenue Share, by Type (2020 and 2028)
Figure 46. Europe: Electric Vehicle Actuator Market Revenue Share, by Application (2020 and 2028)
Figure 47. Europe: Electric Vehicle Actuator Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 48. Europe: Electric Vehicle Actuator Market Revenue Share, by Key Country (2020 and 2028)
Figure 49. Germany: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. France: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. Italy: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. UK: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. Russia: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. Rest of Europe: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Asia Pacific: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. Asia Pacific: Electric Vehicle Actuator Market Revenue Share, by Type (2020 and 2028)
Figure 57. Asia Pacific: Electric Vehicle Actuator Market Revenue Share, by Application (2020 and 2028)
Figure 58. Asia Pacific: Electric Vehicle Actuator Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 59. Asia Pacific: Electric Vehicle Actuator Market Revenue Share, by Key Country (2020 and 2028)
Figure 60. China: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. India: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. Japan: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. South Korea: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. Rest of Asia Pacific: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 65. MEA: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 66. MEA: Electric Vehicle Actuator Market Revenue Share, by Type (2020 and 2028)
Figure 67. MEA: Electric Vehicle Actuator Market Revenue Share, by Application (2020 and 2028)
Figure 68. MEA: Electric Vehicle Actuator Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 69. MEA: Electric Vehicle Actuator Market Revenue Share, by Key Country (2020 and 2028)
Figure 70. South Africa: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 71. Rest of MEA: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 72. South America: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 73. South America: Electric Vehicle Actuator Market Revenue Share, by Type (2020 and 2028)
Figure 74. South America: Electric Vehicle Actuator Market Revenue Share, by Application (2020 and 2028)
Figure 75. South America: Electric Vehicle Actuator Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 76. South America: Electric Vehicle Actuator Market Revenue Share, by Key Country (2020 and 2028)
Figure 77. Brazil: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 78. Argentina: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 79. Rest of SAM: Electric Vehicle Actuator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 80. Impact of COVID-19 Pandemic in North American Country Markets
Figure 81. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 82. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 83. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 84. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - Electric Vehicle Actuator Market
- Robert Bosch GMBH
- Continental AG
- HELLA GMBH AND CO. KGAA
- Johnson Electric
- Stoneridge Inc
- Hitachi Automotive Systems, LTD.
- Borgwarner INC.
- Mahle GMBH
- Mitsubishi Electric Corporation
- Nidec Corporation
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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