Automotive Electronic Control Units Market Size Worth in USD
Pune, India, Oct. 07, 2022 (GLOBE NEWSWIRE) — The world automotive electronic control unit market was USD 53.13 Billion in 2021. The global market size is expected to grow from USD 58.31 Billion in 2022 and reach USD 94.58 Billion by 2029, growing at a CAGR of 7.2% during the period forecast 2022-2029. This information is provided by Fortune Business Insights, in its report titled “Automotive Electronic Control Unit Market, 2022-2029”.
According to our analysts, factors such as increasing adoption of integrated automotive electronic control units (ECUs) and growing emphasis on protecting vehicle owner data are key factors driving the market growth.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-electronic-control-unit-ecu-market-101595
|Forecast Period 2022 to 2029 CAGR||7.2%|
|2029 value projection||$94.58 billion|
|Year of reference||2021|
|Market size in 2022||$58.31 billion|
|Historical data for||2018 – 2020|
|Number of pages||200|
|Segments Covered||By vehicle type, by application and by region|
|Growth engines||Growing Adoption of Embedded Calculators to Fuel Market Growth|
|Asia-Pacific will dominate the market due to growing demand for passenger cars|
COVID-19 Impact Analysis-
Global Market Growth Will Slow Amid Pandemic
The global coronavirus pandemic has hampered the growth of the global automotive industry. Automotive ECU demand has declined due to low vehicle production and sales. Declining consumer demand due to high unemployment rates and financial crisis has affected the growth of the market. Nevertheless, the recovery of activities and the improvement in vehicle sales are helping the market to gain momentum. The market is expected to witness dramatic growth in the coming years.
To learn more about the short and long term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/automotive-electronic-control-unit-ecu-market-101595
Drivers and Restrictions:
The incorporation of highly distributed automotive ECUs into vehicles has increased in recent years. However, vehicle space is occupied when a large number of ECUs are installed on a vehicle. So, to avoid additional weight and space usage, manufacturers install integrated ECUs to perform multiple control functions from a single unit. Hence, the increasing adoption of embedded ECUs is expected to drive the growth of the global automotive electronic control unit market.
Concerns about data security have also increased in recent years. Access to vehicle owner data is crucial, but cases of data theft have increased and prompted consumers to protect their personal data. This growing emphasis on vehicle owner data protection is expected to be a vital factor in driving the growth of the market.
However, costly repairs and technical failures affect the reliability and may be the factors restraining the market growth over the forecast period.
October 2021: Delphi Technologies was acquired by BorgWarner Inc. The acquisition aims to strengthen BorgWarner’s power electronics products, power electronics and electronic control unit.
February 2021 – Magna plans to introduce a new product category for new vehicles.
List of key players mentioned in the report:
- ZF FRIEDRICHSHAFEN AG (Germany)
- Continental AG (Germany)
- Denso Corporation (Japan)
- Hyundai Mobis (Korea)
- Autoliv (Sweden)
- Robert Bosch GmbH (Germany)
- Altera (Intel Corporation) (USA)
- Valeo Inc. (France)
- Delphi Technologies (UK)
- NXP Semiconductors NV (Netherlands)
Quick Buy – Automotive Electronic Control Unit Market Size research report: https://www.fortunebusinessinsights.com/checkout-page/101595
Based on vehicle type, the market is fragmented into electric vehicle, heavy-duty vehicle, light-duty vehicle, and passenger car.
Based on application, the market is segmented into infotainment, ADAS, body electronics, brake system and powertrain.
Geographically, the market is categorized into Europe, North America, Asia-Pacific, and Rest of the World.
Key Benefits for Automotive Electronic Control Unit Market:
- The Automotive Electronic Control Unit Market analysis covers in-depth information about the major players in the industry.
- Porter’s five forces analysis helps in analyzing the potential of buyers and suppliers and the competitive scenario of the industry for making strategies.
- Major countries have been mapped based on their individual contribution to regional market revenue.
- The report provides an in-depth analysis of the Automotive Electronic Control Unit Market over the forecast period.
- The report depicts current market trends and future scenario of the Global Automotive Electronic Control Unit Market to understand existing opportunities and potential investment pockets.
- The main drivers, constraints and opportunities and their detailed impact analysis are explained in the study.
Asia-Pacific will dominate the market due to growing demand for passenger cars
Asia-Pacific is expected to become dominant in the global automotive electronic control unit market share. Improving personal disposable income levels and growing demand for passenger cars are expected to drive the market growth in the coming years.
North America is expected to show steady growth in the coming years. Growing use of security systems in standard vehicles and growing electrification of SUVs, light-duty vehicles, and passenger cars are expected to drive the market growth in North America.
Europe is expected to witness substantial growth owing to the presence of various manufacturers of luxury cars, advanced sensors and electronic devices.
Key players are adopting ingenious strategies to capture growth
The major players operating in the market conduct extensive research and development activities to provide integrated solutions and advanced product offerings. They adopt various growth strategies including partnerships, collaborations, mergers, acquisitions and others. For example, Denso Corporation unveiled a new Electric Power Steering Motor Control Unit (EPS-MCU) in September 2020. The new product provides improved safety and drivability to vehicles.
You have a question ? Ask our experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-electronic-control-unit-ecu-market-101595
Automotive Electronic Control Unit Market Segmentation:
By type of vehicle
- Passenger car
- Light commercial vehicle
- heavy duty vehicle
- Electric vehicle
By type of application:
- Braking system
- Body electronics
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Main emerging trends – for main countries
- Latest technological advancement
- Regulatory landscape
- Industry SWOT Analysis
- Analysis of the five forces of carriers
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Automotive Electronic Control Unit market
- Measures taken by the government to overcome the impact
- Key developments from industry players in response to COVID-19
- Potential Opportunities and Challenges Due to the COVID-19 Outbreak
Get your personalized research report: https://www.fortunebusinessinsights.com/enquiry/customization/automotive-electronic-control-unit-ecu-market-101595
Fortune Business Insights™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We adapt innovative solutions to our customers, helping them to meet the challenges specific to their activities. Our goal is to give our clients holistic market intelligence, providing granular insight into the market they operate in.
Fortune Business Insights™ Pvt. ltd.
USA: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
E-mail: [email protected]