Automotive Electronic Control Unit (ECU) Market Size is Projected To Reach USD 68330 Million By 2027 At A CAGR of 5.8% - Valuates Reports
BANGALORE, India, Dec. 7, 2021 /PRNewswire/ -- Automotive Electronic Control Unit Market is segmented By Type - Transmission Control System, Engine Management System, Antilock Braking System, Climate Control System, Power Steering System, Airbag Restraint System, Body Controls System, By Application - Utility Vehicles, Passenger Cars, Commercial Vehicles. Global Opportunity Analysis and Industry Forecast 2021 - 2027.
The global Automotive Electronic Control Unit (ECU) market size is projected to reach USD 68330 million by 2027, from USD 44560 million in 2020, at a CAGR of 5.8% during 2021-2027.
Major Factors Driving The Growth Of The Automotive Electronics Control Unit Market Are
Because of the increased complexities of these vehicles when compared to traditional vehicles, the steady expansion of alternative vehicle options such as hybrid and pure electric automobiles in developed countries has contributed significantly to the Automotive Electronics Control Unit Market. Customer demand for low maintenance, driver safety, and security concerns are also driving the growth of the Automotive Electronics Control Unit market.
The Automotive Electronics Control Unit market is predicted to increase due to the acceptance of improved safety systems and assisted driver assistance functions, such as blind-spot recognition and automatic emergency braking, at lower costs.
Another key element driving the high growth of the Automotive Electronics Control Unit market is the government restrictions to lower fuel consumption and public demand for better vehicle efficiency.
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TRENDS INFLUENCING THE GROWTH OF AUTOMOTIVE ELECTRONIC CONTROL UNIT (ECU) MARKET
The use of cellphones that are connected to the vehicle and provide the driver with real-time information about the vehicle's condition has been a popular trend in recent years. These modern ECU systems, which have the ability to readily interact with smartphones, may lead to an increase in the expansion of ECU systems.
The need for Electric Vehicles is expanding rapidly across the world, and this in turn increase demand for Automotive Electronic Control Unit in these vehicles. The automobile industry's shift towards electric vehicles is predicted to have an influence on automakers, electronic component manufacturers, and the industry's supply chain. As a result, companies that previously solely made parts and components for IC engines are now branching out into the electric vehicle market. As the market for electric vehicles grows, so does the demand for them. Components such as ECUs for engine control and transmission would be replaced by ECUs for electrical architecture and battery management systems in the automotive diagnostics industry. This in turn is expected to drive the growth of the Automotive Electronic Control Unit market.
Many car manufacturers do not optimize their vehicles' performance. Engine performance can be improved with turbocharged engines. Because the turbocharger's power may be boosted by remapping, these turbocharged vehicles perform well. It can enhance vehicle fuel economy in addition to providing superb performance. The remapping of the control units can help improve the vehicle's mileage by allowing for more precise management of the fuel flow. This trend will help to grow the automotive electronic control unit market size in the forecast periods.
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AUTOMOTIVE ELECTRONIC CONTROL UNIT (ECU) MARKET SHARE ANALYSIS
Asia-Pacific is expected to be the most lucrative region due to a rise in the demand for in-vehicle infotainment and communication applications in passenger vehicles, an increase in disposable income, and a rise in automobile production in this region.
Based on type, the powertrain system is expected to be the most lucrative segment.
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REGIONAL OUTLOOK
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and production data of each region and country for the period 2016-2027. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region. North America, Europe, China, Japan, South Korea and India are the major regions studied in the research report.
Automotive Electronic Control Unit Market By Companies
● Continental AG
● Denso Corporation
● Robert Bosch GmbH
● Delphi Automotive PLC
● Hyundai Mobis Co. Ltd.
● Panasonic Corporation
● Lear Corporation
● Hitachi Automotive Systems Ltd.
● Magneti Marelli Spa
● Pektron Group Limited
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