Global Park Lock Actuators Market Research Report Information By Product Type, Application (Hybrid Electric Vehicle and Electric Vehicle ), And By Region -Industry Forecast Till 2030

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Global Park Lock Actuators Market Research Report Information By Product Type (Hydraulic and Electric), Application (Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV)), And By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) -Industry Forecast Till 2030

Market Overview

A compound annual growth rate (CAGR) of 15.1% is anticipated for the Park Lock Actuators market industry during the review period. The global park lock actuator market is experiencing consistent growth because of the automotive industry's technological advancements, government mandates, and the advancements in park lock actuators.

In recent years, the Park Lock Actuator market has experienced consistent growth because of a variety of factors, including the growing demand for advanced automotive safety systems, the increasing production of vehicles, and the growing concerns regarding parking safety. Nevertheless, the increasing global adoption of electric vehicles is another significant factor driving this market. The transition to electric vehicles has acquired momentum in recent years, driven by concerns regarding environmental pollution and the depletion of non-renewable resources. Consequently, the quantity of electric vehicles on the road has been consistently increasing, and it is anticipated that this trend will persist in the years ahead.

This system is intended to improve the safety and reliability of electric vehicles and is anticipated to be implemented in the forthcoming generation. Moreover, the Park Lock Actuator market is anticipated to experience further growth because of the numerous government initiatives that are being implemented worldwide to encourage the adoption of electric vehicles. For example, the Indian government recently announced a variety of incentives for electric vehicle manufacturers and consumers, such as reduced GST rates and tax exemptions. It is anticipated that the demand for Park Lock Actuators will be driven by the anticipated increase in the demand for electric vehicles in the country because of these initiatives. In summary, the Park Lock Actuator market is anticipated to experience substantial growth in the years ahead, because of a variety of factors, including the growing demand for advanced automotive safety systems and the increasing adoption of electric vehicles.

Market Segment Insights

The global park lock actuator market is divided into hydraulic and electric segments based on the product category.

The global park lock actuator market is divided into two categories: electric vehicle (EV) and hybrid electric vehicle (HEV). This segmentation is based on the application.

Regional Perspectives

During the forecast period, Asia-Pacific is anticipated to maintain its dominance in the Park Lock Actuators market, where it held the largest share of 40.5% in terms of revenue in 2022. In recent years, the Asia-Pacific Park Lock Actuator Market has experienced substantial growth, as numerous prominent companies have introduced new products and expanded their market presence. For example, Bosch has developed a sophisticated park lock actuator system that enhances safety, dependability, and user-friendliness. In the same vein, Denso Corporation has created a novel park lock actuator that is both energy-efficient and in accordance with government regulations. The government has been actively promoting the use of eco-friendly technologies in the automotive industry, such as park lock actuators.

In recent years, the North American Park Lock Actuator Market has undergone numerous developments, as prominent companies have introduced new products and expanded their market presence. For example, Delphi Technologies has created a sophisticated park lock actuator system that enhances safety, reliability, and user-friendliness.

The Middle East and Africa Park Lock Actuator Market is witnessing consistent growth as a result of the growing demand for advanced security features in vehicles and the increasing adoption of electric vehicles. In the Middle East and Africa region, there have been numerous advancements in the park lock actuator market in recent years.

Major Players

Vitesco Technologies mbH, EFI Automotive, Continental AG, Methode Sensor Technologies, Johnson Electric Holdings Limited, Kendrion N.V., and Dura-Shiloh are among the main players in the market.

Product Code: MRFR/AM/19874-CR

1 EXECUTIVE SUMMARY

1.1.1 GLOBAL PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE
1.1.2 GLOBAL PARK LOCK ACTUATOR MARKET, BY APPLICATION

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

4.1 OVERVIEW
4.2 DRIVERS
- 4.2.1 SURGING ADOPTION OF ELECTRIC VEHICLES DRIVES GROWTH IN PARK LOCK ACTUATOR MARKET
- 4.2.2 ADVANCEMENTS IN PARK LOCK ACTUATORS AND GOVERNMENT MANDATES DRIVING MARKET GROWTH
4.3 RESTRAINTS
- 4.3.1 HIGH COST OF ADVANCED PARK LOCK ACTUATOR SYSTEMS POSES RESTRAINTS TO MARKET GROWTH
4.4 OPPORTUNITIES
- 4.4.1 GROWING DEMAND FOR SMART AND SAFE VEHICLES BOOSTS PARK LOCK ACTUATOR MARKET GROWTH
4.5 IMPACT ANALYSIS OF COVID-19
- 4.5.1 IMPACT ON THE AUTOMOTIVE INDUSTRY
- 4.5.2 ECONOMIC IMPACT
- 4.5.3 IMPACT ON THE PARK LOCK ACTUATOR MARKET
- 4.5.4 IMPACT ON THE SUPPLY CHAIN OF THE PARK LOCK ACTUATOR MARKET
  - 4.5.4.1 IMPACT DUE TO RESTRICTION/LOCKDOWN
  - 4.5.4.2 CONSUMER SENTIMENTS

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 DESIGN & DEVELOPMENT
- 5.1.2 RAW MATERIAL SUPPLY
- 5.1.3 MANUFACTURE & ASSEMBLY
- 5.1.4 SALES & DISTRIBUTION
- 5.1.5 END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 REGULATORY FRAMEWORK

6 GLOBAL PARK LOCK ACTUATOR MARKET - KEY TRENDS

6.1 OVERVIEW
6.2 ARTIFICIAL INTELLIGENCE
6.3 BIG DATA ANALYTICS
6.4 AUTONOMOUS VEHICLE
6.5 SHARED MOBILITY
6.6 CONNECTIVITY
6.7 INTERNET OF THINGS
6.8 OEM
6.9 AFTER MARKET

7 GLOBAL PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE

7.1 OVERVIEW
7.2 HYDRAULIC
7.3 ELECTRIC

8 GLOBAL PARK LOCK ACTUATOR MARKET, BY APPLICATION

8.1 OVERVIEW
8.2 HYBRID ELECTRIC VEHICLE (HEV)
8.3 ELECTRIC VEHICLE (EV)

9 GLOBAL PARK LOCK ACTUATOR MARKET, BY REGION

9.1 OVERVIEW
- 9.1.1 GLOBAL PARK LOCK ACTUATOR MARKET, BY REGION, 2018-2030
9.2 NORTH AMERICA
- 9.2.1 NORTH AMERICA: PARK LOCK ACTUATOR MARKET, BY COUNTRY, 2018-2030
- 9.2.2 NORTH AMERICA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
- 9.2.3 NORTH AMERICA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.2.4 US
  - 9.2.4.1 US: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.2.4.2 US: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.2.5 CANADA
  - 9.2.5.1 CANADA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.2.5.2 CANADA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.2.6 MEXICO
  - 9.2.6.1 MEXICO: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.2.6.2 MEXICO: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
9.3 EUROPE
- 9.3.1 EUROPE: PARK LOCK ACTUATOR MARKET, BY COUNTRY, 2018-2030
- 9.3.2 EUROPE: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
- 9.3.3 EUROPE: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.3.4 GERMANY
  - 9.3.4.1 GERMANY: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.3.4.2 GERMANY: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.3.5 UK
  - 9.3.5.1 UK: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.3.5.2 UK: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.3.6 FRANCE
  - 9.3.6.1 FRANCE: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.3.6.2 FRANCE: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.3.7 SPAIN
  - 9.3.7.1 SPAIN: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.3.7.2 SPAIN: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.3.8 ITALY
  - 9.3.8.1 ITALY: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.3.8.2 ITALY: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.3.9 REST OF EUROPE
  - 9.3.9.1 REST OF EUROPE: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.3.9.2 REST OF EUROPE: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
9.4 ASIA-PACIFIC
- 9.4.1 ASIA-PACIFIC: PARK LOCK ACTUATOR MARKET, BY COUNTRY, 2018-2030
- 9.4.2 ASIA-PACIFIC: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
- 9.4.3 ASIA-PACIFIC: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.4.4 CHINA
  - 9.4.4.1 CHINA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.4.4.2 CHINA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.4.5 INDIA
  - 9.4.5.1 INDIA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.4.5.2 INDIA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.4.6 JAPAN
  - 9.4.6.1 JAPAN: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.4.6.2 JAPAN: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.4.7 SOUTH KOREA
  - 9.4.7.1 SOUTH KOREA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.4.7.2 SOUTH KOREA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.4.8 AUSTRALIA
  - 9.4.8.1 AUSTRALIA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.4.8.2 AUSTRALIA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.4.9 REST OF ASIA-PACIFIC
  - 9.4.9.1 REST OF ASIA-PACIFIC: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.4.9.2 REST OF ASIA-PACIFIC: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
9.5 MIDDLE EAST & AFRICA
- 9.5.1 MIDDLE EAST & AFRICA: PARK LOCK ACTUATOR MARKET, BY COUNTRY, 2018-2030
- 9.5.2 MIDDLE EAST & AFRICA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
- 9.5.3 MIDDLE EAST & AFRICA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.5.4 SAUDI ARABIA
  - 9.5.4.1 SAUDI ARABIA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.5.4.2 SAUDI ARABIA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.5.5 SOUTH AFRICA
  - 9.5.5.1 SOUTH AFRICA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.5.5.2 SOUTH AFRICA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.5.6 UAE
  - 9.5.6.1 UAE: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.5.6.2 UAE: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.5.7 REST OF MIDDLE EAST & AFRICA
  - 9.5.7.1 REST OF MIDDLE EAST & AFRICA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.5.7.2 REST OF MIDDLE EAST & AFRICA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
9.6 SOUTH AMERICA
- 9.6.1 SOUTH AMERICA: PARK LOCK ACTUATOR MARKET, BY COUNTRY, 2018-2030
- 9.6.2 SOUTH AMERICA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
- 9.6.3 SOUTH AMERICA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.6.4 BRAZIL
  - 9.6.4.1 BRAZIL: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.6.4.2 BRAZIL: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.6.5 ARGENTINA
  - 9.6.5.1 ARGENTINA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.6.5.2 ARGENTINA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030
- 9.6.6 REST OF SOUTH AMERICA
  - 9.6.6.1 REST OF SOUTH AMERICA: PARK LOCK ACTUATOR MARKET, BY PRODUCT TYPE, 2018-2030
  - 9.6.6.2 REST OF SOUTH AMERICA: PARK LOCK ACTUATOR MARKET, BY APPLICATION, 2018-2030

10 COMPETITIVE LANDSCAPE

10.1 OVERVIEW
10.2 COMPETITIVE BENCHMARKING
10.3 KEY DEVELOPMENT IN THE GLOBAL AUTOMOTIVE MARKET
- 10.3.1 PRODUCT LAUNCH/DEVELOPMENT
- 10.3.2 COLLABORATION
- 10.3.3 PARTNERSHIP
- 10.3.4 EXPANSION
- 10.3.5 ACQUSITION

11 COMPANY PROFILES

11.1 BORGWARNER INC.
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS OFFERED
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGIES
11.2 VALEO
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGIES
11.3 STONERIDGE INC.
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGIES
11.4 VITESCO TECHNOLOGIES GMBH
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 PRODUCTS OFFERED
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGIES
11.5 EFI AUTOMOTIVE
- 11.5.1 COMPANY OVERVIEW
- 11.5.2 FINANCIAL OVERVIEW
- 11.5.3 PRODUCTS OFFERED
- 11.5.4 KEY DEVELOPMENTS
- 11.5.5 SWOT ANALYSIS
- 11.5.6 KEY STRATEGIES
11.6 CONTINENTAL AG
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 FINANCIAL OVERVIEW
- 11.6.3 PRODUCTS OFFERED
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 SWOT ANALYSIS
- 11.6.6 KEY STRATEGIES
11.7 METHODE SENSOR TECHNOLOGIES
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 PRODUCTS OFFERED
- 11.7.3 KEY DEVELOPMENTS
- 11.7.4 SWOT ANALYSIS
- 11.7.5 KEY STRATEGIES
11.8 JOHNSON ELECTRIC HOLDINGS LIMITED
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 FINANCIAL OVERVIEW
- 11.8.3 PRODUCTS OFFERED
- 11.8.4 KEY DEVELOPMENTS
- 11.8.5 SWOT ANALYSIS
- 11.8.6 KEY STRATEGIES
11.9 KENDRION N.V.
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW
- 11.9.3 PRODUCTS OFFERED
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 SWOT ANALYSIS
- 11.9.6 KEY STRATEGIES
11.10 DURA-SHILOH
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW
- 11.10.3 PRODUCTS OFFERED
- 11.10.4 KEY DEVELOPMENTS
- 11.10.5 SWOT ANALYSIS
- 11.10.6 KEY STRATEGIES