Automotive Electronics Control Unit Market Size worth $95bn by 2024
Published Date: September 12, 2018 Authors: Preeti Wadhwani, Prasenjit Saha
Automotive Electronics Control Unit (ECU) Market shipments are expected to witness 6% growth to surpass 9.5 billion units by 2024; according to a new research report by Global Market Insights, Inc.
Increasing installation of the advanced features and ADAS in autonomous and luxury vehicles is driving the automotive electronics control unit market growth. Luxury vehicles deploy many ECUs and offer advanced driving assistance benefits and 360º radar sensing.
Developments observed in the design and manufacturing of electric vehicles (EVs) and hybrid electric vehicles (HEVs) are the key trends that will positively impact the market demand. A major transition observed in the ECU implementation in these vehicles includes control unit degradation that deactivates the unnecessary elements and eliminates optional GPS signals and offers low current consumption, improved safety, and electric function management.
The rise in automobile production across the globe to cater to the increasing population requirement is further creating several opportunities for the market revenue. The global automobile manufacturing market identifies smart connectivity and greener production initiatives, leading to an increased consumption of control units. Additionally, several favorable government reforms to control the road traffic and ensure driver safety drive the production of modern vehicles.
Browse key industry insights spread across 430 pages with 695 market data tables & 34 figures & charts from the report, “Automotive Electronics Control Unit (ECU) Market Size By Capacity (16-bit, 32-bit, 64-bit), By Vehicle Type (Passenger Cars, Utility Vehicles, Commercial Vehicles), By Mode (Autonomous Vehicles, Conventional Vehicles, Semi-autonomous Vehicles), By Propulsion Type (BEVs, Hybrid Vehicles, ICE Vehicles), By Application (ADAS & Safety, Body Control & Comfort, Infotainment & Communication, Powertrain), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Benelux, Poland, Sweden, Russia, China, India, Japan, South Korea, Taiwan, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Colombia, Argentina, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
Passenger vehicles are expected to grow at around 6% CAGR in the automotive ECU market. These vehicles include luxury cars that deploy the highest number of ECUs owing to their requirements for enhanced performance. Modern passenger cars deploy several automated features such as airbag security and energy-efficient engines. ECUs in the utility and commercial vehicles provide several IoT-based functions, controlling and managing the overall engine capacity functions.
Additionally, in commercial vehicles, the components offer efficient cabin test and control functions for door modules that require the complex handling and control, further driving the market growth. High consumption of the commercial vehicles across the globe due to increased industrial production capacity and government infrastructure development initiatives is driving the market value.
Battery Electric Vehicles (BEVs) accounted for over 30% market share in terms of unit shipment in 2017 and is expected to grow due to high demand for energy efficient vehicles across various regions. Several countries are focusing on improving their carbon emission rates and are developing various initiatives & programs to promote the adoption of these solutions. Major automobile manufacturing players are supporting the government initiatives to reduce the pollution rate and contribute to sustainable goals achievement.
The Europe automotive electronics control unit market size will grow at a CAGR of over 5% to 2024. The growth can be credited to presence of large number of prominent automobile manufacturers in Germany, France, and Italy. In addition, the increasing government legislation and supportive policies are further expected to propel the market revenue.
Key companies providing enhanced solutions in the market comprise Bosch Group, Hitachi Automotive Systems, Hyundai MOBIS, Delphi Technologies, Lear Corporation, Johnson Control, Continental AG, Mitsubishi Electric Corporation, Altera Corporation, and Magneti Marelli.
Prominent players are focusing on the development of technically advanced products to gain a competitive advantage. An emerging trend is the development of semi-autonomous and self-driving cars exhibiting the latest connectivity technologies. Furthermore, several companies in the U.S. and China started autonomous vehicle testing in compliance with the regional regulations.