New York, US, Aug. 11, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive Electronic Control Unit Market Analysis by Type, By Vehicle Type (Passenger Vehicles and Commercial Vehicles) and By Region - Forecast To 2030” valuation is poised to reach USD 58310 million by 2030, registering an 7.20% CAGR throughout the forecast period (2022–2030).
Automotive Electronic Control Unit Market Overview
For automakers, the need for electric & hybrid vehicles is predicted to be a profitable growth potential. Major luxury car manufacturers are introducing electric versions of their vehicles in response to rising environmental concerns & an increase in fuel prices. Governments are also implementing enticing incentives and laws to promote the purchase of electric vehicles (EVs), which will probably accelerate the expansion of the ECU industry.
Automotive Electronic Control Unit Market Report Scope:
| Report Metric | Details |
| Market Size by 2030 | USD 58310 Million |
| Market Growth 2022-2030 | 7.20% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
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Drivers
Government Mandates to Decrease Fuel Usage to offer Robust Opportunities
Various government mandates for reducing fuel usage coupled with the growing need for a better mileage of cars among consumers to offer robust opportunities for the market over the forecast period.
Increase in Complexity to act as Market Restraint
The rise in complexity & the number of ECUs may act as market restraints over the forecast period.
Increase in Preference for BYOD to act as Market Challenge
The increase in preference for BYOD coupled with operation failure in ECUs may act as market challenges over the forecast period.
Automotive Electronic Control Unit Market Segments
The automotive electronic control unit market is bifurcated based on vehicle type and type.
By type, powertrain system will lead the market over the forecast period.
By vehicle type, passenger vehicles will dominate the market over the forecast period.
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Automotive Electronic Control Unit Market Regional Analysis
APAC to Sway Automotive Electronic Control Unit Market
Due to reasons including rigorous regulations on car emissions, increased disposable income, and increasing new vehicle registration, Asia Pacific has domineered the global market. APAC had sold the most vehicles over the past few years, with China, Japan, and Indonesia making substantial contributions. Moreover, the APAC area has been greatly influenced by the rising demand for passenger cars. The area dominates the international market. Due to the increasing demand for passenger automobiles in this region, which is driven by an increase in people's disposable income, it will continue to hold its position of supremacy over the forecasted period. Due to the growing demand for in-car entertainment & communication apps in Asia Pacific had a revenue share of over 40% in 2021.
The automobile sector is expanding quickly in nations like South Korea, China, & India, which presents numerous opportunities to integrate ECU in the new car. Additionally, the growing need for personal cars is stimulating the industry and opening up new prospects for market expansion in this area. Due to rising need for in-vehicle communication and entertainment systems in passenger cars, rising disposable income, and rising auto production in this region, Asia-Pacific now holds a monopoly on the automotive ECU market. It is anticipated that Asia Pacific would take the lead in the global market for automotive electronic control units. In the upcoming years, the market's growth is anticipated to be stimulated by expanding demand for passenger automobiles and rising personal disposable income levels.
According to estimates, both the volume and value of the automotive ECU market is dominated by Asia Pacific. The expansion of this market could be ascribed to the rise in electric vehicle and passenger car demand and production. The market in this area is primarily driven by expanding consumer awareness of safety features in developing nations, rising consumer desire for advanced electronics in automobiles, and rising consumer spending power.
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North America to Possess Significant Growth in Automotive Electronic Control Unit Market
Due to the rise in installation of the electronic systems in passenger cars, SUVs, and light commercial vehicles, North America is anticipated to experience the highest CAGR of 6.0% over the projected period. In addition, the market is being driven by stringent government regulations to reduce carbon emissions and consumer demand for energy-efficient automobiles. Additionally, the expansion of the regional industry is aided by the increased demand for luxury automobiles. Due to rising demand for luxury automobiles, rising demand for fuel-efficient vehicles, and strong government restrictions to minimize carbon emissions in this region, North America is the region with the highest predicted growth in the market. In the upcoming years, North America is expected to experience sustained growth. The increased use of safety features in all types of vehicles and the increasing electrification of SUVs, passenger cars, and light trucks are expected to drive market expansion in North America.
COVID-19 Analysis
Each market, including the one in the car industry, was unclear as a result of the COVID-19 crisis. The market for automotive ECUs was indirectly impacted by the closure of the assembly plants & extensive pauses in manufacture. Governments in several areas declared complete lockdown, temporary industry shutdown, and national and international border restrictions, which impeded movement of transportation and logistics services. Additionally, the COVID-19 epidemic disrupted mass production across Europe, forced the shutdown of U.S. assembly factories, and stopped the sale of Chinese parts, placing a heavy load on key companies and sparking merger and acquisition activity.
However, with the rise in passenger car sales and a consequent increase in need for automotive ECU market, market players' overall service operations showed a steady and favourable rebound in the months that followed. The automotive electronic ECU market is positively impacted by the current global market situation, which is progressively returning to normal thanks to new regulations and policies as well as a major recovery in the product sales all over the retail sector.
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Automotive Electronic Control Unit Market Competitive Analysis
Dominant Key Players on Automotive Electronic Control Unit Market Covered are:
- Denso Corporation (Japan)
- Delphi Automotive (UK)
- Robert Bosch (Germany)
- Hyundai Mobis (South Korea)
- Continental AG (Germany)
- Lear Corporation (US)
- Hitachi Automotive Systems (Japan)
- Panasonic Corporation (Japan)
- Magneti Marelli (Italy)
- Pektron Group (UK)
- Takata Corporation (Japan)
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