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

The SAM electric vehicle actuator market is expected to grow from US$ 25.68 million in 2020 to US$ 51.89 million by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The surging adoption of switchable electrochromic and glazing sunroof is expected to accelerate the SAM electric vehicle actuator market. The automotive manufacturers across SAM are investing in the adoption of chromogenic technology for the development of advanced vehicle glazing. The technology can dynamically change 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 dynamic glazing systems have automatic, semi-automatic, or manual switching capabilities, which demand for the integration of actuators for proper functioning. The demand for switchable sunroof glazing is growing nowadays, and the most successful product is the electrochromic automotive mirror, which is available in most major cars. The growing adoption of switchable electrochromic and glazing sunroof will increase the demand of electric vehicle actuator for its proper functioning, which will drive the SAM electric vehicle actuator market.

In SAM, Brazil is severely affected due to the COVID-19 outbreak, followed by Colombia, Ecuador, Chile, Peru, and Argentina, which are also witnessing the adverse impacts of the pandemic across various industries. The governments in SAM have taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that the market in SAM will face steep decline as the majority of stimulus package deployed by the government was majorly focused on public healthcare and tax relief. In addition to this, the online, as well as retail distribution channel will also face the negative impact due to supply chain disruptions and non-availability of raw materials. The sharp decline in business activities and product sales are expected to directly affect the growth rate of electric vehicle actuator market in this region for the next three to four quarters.

Based on type, the electric actuator segment is expected to be the fastest growing segment during the forecast period for SAM. Electric actuators make use of an electric motor and gear reduction to generate torque or force. Several technologies are being used for designing an electric actuator. The electric motor may use AC or DC power and synchronous or asynchronous (squirrel cage) design. Also, this actuator consists of gearing systems that include spur, worm, and scotch yoke. The gear lubrication contains heavy-duty grease applied to the gear surfaces or oil-filled gearbox. Various accessories are available to report and supervise the operating conditions and actuator’s status. There are a wide variety of electric actuators available in the market, which are opted based on different technologies, prices, performance, and quality. Advantages of electric actuators such as less cost, high performance, and easy customization are expected to increase their demand in coming years, thereby driving the SAM electric vehicle actuator market during the forecast period.

The overall SAM 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 SAM electric vehicle actuator market. The process also serves the purpose of obtaining overview and forecast for the SAM 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 SAM 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 SAM electric vehicle actuator market.

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