Pune, India, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The global Automotive Electronic Control Unit Market was USD 53.13 billion in 2021. The global market size is expected to be grow from USD 58.31 billion in 2022 and reach USD 94.58 billion by 2029, exhibiting a CAGR of 7.2% during the forecast period from 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, the factors such as rising adoption of integrated automotive electronic control units (ECU) and increasing emphasis on vehicle owner data protection are vital factors that stimulate the market’s growth.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 7.2% |
| 2029 Value Projection | USD 94.58 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 58.31 Billion |
| Historical Data for | 2018 - 2020 |
| No. of Pages | 200 |
| Segments covered | By Vehicle Type, By Application, and By Region |
| Growth Drivers | Rising Adoption of Integrated ECUs to Fuel Market Growth |
| Asia Pacific to Dominate Market Due to Escalating Demand for Passenger Cars |
COVID-19 Impact Analysis-
Global Market Growth to Slow Down Amid Pandemic
The global coronavirus pandemic dampened the global automotive industry’s growth. The demand for automotive ECU declined due to low production and sales of vehicles. The declined consumer demand due to high unemployment rates and financial crisis affected the market growth. Nonetheless, resuming operations and improving vehicle sales are helping the market gain momentum. The market is likely to gain striking growth in the coming years.
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Drivers and Restraints:
The incorporation of highly distributed automotive ECU in vehicles has increased in recent years. However, vehicle’s space gets occupied when a vast number of ECUs are installed on a vehicle. Thus, to avoid extra weight and space utilization, manufacturers are installing integrated ECUs to perform multiple control functions from a single unit. Hence, the rising adoption of integrated ECUs is likely to boost the global automotive electronic control unit market growth.
Concerns over data security have increased in recent years as well. Access to vehicle owner data is crucial, but the cases of data theft have increased and have inclined consumers to protect their personal data. This increasing emphasis on vehicle owner data protection is expected to be a vital factor stimulating the market’s growth.
However, the expensive repairs and technical failures affect reliability and can be the factors restraining the market’s growth during the forecast period.
Industry Developments:
October 2021: Delphi Technologies was acquired by BorgWarner Inc. The acquisition is aimed to fortify BorgWarner’s power electronic products, power electronics, and electronic control unit.
February 2021- Magna is planning to deliver a new product category to 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) (U.S.)
- Valeo Inc. (France)
- Delphi Technologies (U.K.)
- NXP Semiconductors N.V. (Netherlands)
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Segmentation Analysis-
On the basis of vehicle type, the market is fragmented into electric vehicle, heavy commercial vehicle, light commercial vehicle, and passenger car.
On the basis of application, the market is segmented into infotainment, ADAS, body electronics, braking system, and powertrain.
Geographically, the market is classified into Europe, North America, Asia Pacific, and the Rest of the World.
Key Benefits for Automotive Electronic Control Unit Market:
- The Automotive Electronic Control Unit market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the Automotive Electronic Control Unit market during the forecast period.
- The report outlines the current market trends and future scenario of the global Automotive Electronic Control Unit market to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
Regional Insights:
Asia Pacific to Dominate Market Due to Escalating Demand for Passenger Cars
Asia Pacific is predicted to emerge dominant in the global automotive electronic control unit market share. The improving personal disposable income levels and rising demand for passenger cars are expected to stimulate the market’s growth in the coming years.
North America is anticipated to exhibit steady growth in the coming years. The rising utilization of safety systems across standard vehicles and the escalating electrification of SUVs, light commercial vehicles, and passenger cars are predicted to boost the market growth in North America.
Europe is expected to witness substantial growth due to the presence of various luxury car and advanced sensors and electronic device manufacturers.
Competitive Landscape:
Major Players Adopt Ingenious Strategies to Capture Growth
The major players operating in the market conduct extensive research and development activities to deliver integrated solutions and advanced product offerings. They adopt various growth strategies, including partnerships, collaborations, mergers, acquisitions, and others. For instance, Denso Corporation unveiled a new electric power steering motor control unit (EPS-MCU) in September 2020. The new product offers enhanced safety and handling to vehicles.
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Automotive Electronic Control Unit Market Segmentation:
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Electric Vehicle
By Application Type:
- Powertrain
- Braking System
- Body Electronics
- ADAS
- Infotainment
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Automotive Electronic Control Unit Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
Continued…
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