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NEW YORK, UNITED STATES, March 14, 2023 /EINPresswire.com/ — According to our latest market study on “Automotive ECU Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Application (ADAS and Safety System, Body Control and Comfort System, Infotainment and Communication System, and Powertrain System), Propulsion Type (Electric, Hybrid, and ICE), ECU Capacity (16-Bit ECU, 32-Bit ECU, and 64-Bit ECU), and Vehicle Type (Heavy Duty, Medium Duty, and Light Duty),” the market is expected to grow from US$ 28,155.75 million in 2021 to US$ 42,649.95 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.
The demand for automotive electronic control unit (ECU) is increasing at a notable rate in the SUVs segment of the automotive sector. The rising demand for SUVs is thus boosting the growth of automotive ECU market. The popularity of SUVs continues to grow in almost every market in the world. As the global marketplace has experienced tremors due to trade tensions and a slowdown in the Chinese market, car manufacturers look for new ways to expand their presence. The shifting interest of customers from sedan or hatchbacks to SUVs started 7 years ago and is still progressing strong, which has encouraged vehicle manufacturers to focus on integrating advance automotive ECUs in these vehicles. China accounted for ~46% of global SUV sales in 2020, registering a year-on-year rise of 27%. The SUV market in China has undergone some significant changes. For instance, General Motors succumbed from its place as the top-selling brand with the famous Buick and Baojun models, as sales fell by 9%, which pushed it to the third place. Geely now occupies the top position. The new SUVs from Lynk&Co and Volvo XC60, and some Geely models boosted the SUV sales in China in 2020 to reach ~72,700. Other major manufacturers include Hyundai-Kia and VW Group.
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Companies Profiled in this report includes: Aptiv, Autoliv Inc., Continental AG, Denso Corporation, Intellias Ltd., Marelli Europe S.p.A., Mitsubishi Electric Corporation, Robert Bosch GmbH, Transtron Inc., and ZF Friedrichshafen AG
Growing Sales of Premium Cars in China to Propel Automotive ECU Market Growth in Coming Years
In 2020–2021, China accounted for the sales of ~25 million vehicles. The country is the world’s largest producer as well as consumer of cars. Although the overall car sales fell by ~2.4 by October 2021, the demand for new energy vehicles (NEV) grew by 135% in that month to reach 383,000 units. All significant OEMs of luxury vehicles in the country, including BMW, Mercedes-Benz, and Audi, have reported positive sales figures. In the earlier generations, consumers used to purchase premium vehicles mainly to exhibit their social status. However, the progressively sophisticated new generation of consumers prefers buying premium automobiles for luxury experience and smart technologies. According to a study conducted by the China Association of Automobile Manufacturers, women play a significant role in the Chinese premium car market. This survey stated that while opting for a vehicle model, women value safety features, comfort, and exterior styling over the other qualities that are favored by their male counterparts, such as powertrain technology, social premium brand recognition, and model size. Thus, with the growing sales of premium cars, especially in China, are driving the demand for the integration of automotive ECU in sedans and SUVs.
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Automotive ECU Market: Application Overview
The automotive ECU market, by application, is segmented into ADAS and safety system, body control and comfort system, infotainment and communication system, and powertrain system. In the past few years, vehicle accidents have increased significantly, which is compelling automotive manufacturers, along with their technology partners, to bring further developments in automotive and automotive electronic technologies.
Automotive ECU Market: Competitive Landscape and Key Developments
Aptiv, Autoliv Inc., Continental AG, Denso Corporation, Intellias Ltd., Marelli Europe S.p.A., Mitsubishi Electric Corporation, Robert Bosch GmbH, Transtron Inc., and ZF Friedrichshafen AG are among the key players in the global automotive ECU market. The leading companies are expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.
In October 2021, Aptiv PLC launched new zone controllers working to distribute high-speed data and power between sensors and peripherals that separate input/output (I/O) from compute in the vehicle. These controllers allow OEMs to reduce the vehicle’s physical complexity into manageable zones, further driving up-integration of distributed ECUs.
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Article originally published on www.einpresswire.com as Automotive ECU Market Growth Sturdy at 6.1% CAGR to Outstrip $ 42,649.95 Million by 2028 by The Insight Partners