Acumen Research and Consulting recently published a report titled “Automotive electronic control units Market Size, Share, Trend, Growth and Forecast 2019-2026”.
LOS ANGELES, July 19, 2019 (GLOBE NEWSWIRE) -- The global automotive electronic control unit market is expected to reach over USD 70,986.0 Million by 2026 and is expected to grow at CAGR 6.1% during the forecast period, 2019-2026.
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The global automotive electronic control units market is majorly driven by increasing demand for the automotive vehicles across the globe. Continuously increasing population and changing standard of living, increasing spending of the people and increasing government support for the new startups have supported the growth of the automotive electronic control units market. Economic fluctuations are simply fluctuations in the level of the national income of a country representing growth or contraction. Overall, automotive electronic control units market is the dependent market on the automotive industries. The market trends get change as per the change in automotive industries. Currently, an economic condition of all major countries is nearly stable. However, in African countries due to economic fluctuations, the market is expecting a steady growth. Though in 2015 and 2016 the economies of the countries like America, U.K, India and others are disturbed which has disturbed the market growth. However, they have overcome this in 2017 and 2018. Currently the automotive electronic control units market is expecting a very healthy growth in this region owing to the increasing demand for the automotive vehicles, and increasing per capita income of the people.
On the other hand, Stringent government regulations for manufacturing and raw material will limit the automotive electronic control units market growth.
The global Automotive Electronic Control Unit Market is segmented By Technology, Application, and region.
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On the basis of Technology, the market is segmented transmission control system, engine management system, anti-lock braking system, climate control system, power steering system, airbag restraint system, and body control system. Among all, owner steering system segment emerged as the global leader with largest market shares in 2016 and similar trend are anticipated during the assessment period. With the incorporation of power steering system features in the vehicle system, it becomes necessary to use electronic control units in order to control other components. Due to which the demand of ECU in the power starring segment is high as compared to other segment. On the other hand, engine component segment expected to exhibit highest CAGR during the forecast period.
On the basis of by application, the global automotive electronic control unit market is segmented into utility vehicles, passenger cars, commercial vehicles. Passenger cars are the largest segment for which automotive electronic control units are large used. This is due to highest sales passenger car as compared to other vehicle types that results into the higher demand for electronic control unit.
Geographically, the automotive electronic control units market is segmented into Asia Pacific, North America, Europe, and Latin America & Middle East Africa (LAMEA).
North America automotive electronic control units market holds the major largest share in the global automotive electronic control units market owing to well developed automotive sectors, increasing demand for the commercial vehicles, and presence of leading players in the market. The manufacturing is considered as the largest industry in U.S. employing over 12 million workers over different states. In addition the overall manufacturing sector contributed around $2.18 trillion to U.S. economy in 2016. These all factors has led to the increasing in the production of the various automotive electronic control units. Additionally, availability of skilled workforce and favorable government policies are major factors supporting the growth of the market. Europe is a growing market for the automotive electronic control units market. The major market share is hold by the eastern European countries due to low labor cost and cheap raw material prices.
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A huge number of automotive industries are present in the Europe however, the minors’ requirement required for the vehicles are imported from Asian countries like China and India. China dominates the Asia Pacific automotive electronic control units market owing to the presence of huge manufacturing companies. The major driving factor for the automotive electronic control units market in China is increasing demand for the various types of automotive electronic control units from the European countries. The factors favoring the market growth are cheap cost of raw materials, low labor cost, and presence of abundant raw material. Japan automotive electronic control units market is expecting the steady growth during the forecasted period. The major factors for the steady growth are the saturation in the automotive electronic control units market. Automobile industries in Japan is highly saturated which is the major reason the market is growing at a steady pace. South Korea is expected to have the similar scenario for the market as Japan. The manufacturing of the automobile vehicles in this region is decreasing from last 5 years. In last 5 years the automotive vehicles production is decreased by over 20% which is led to decrease in the demand for the automotive electronic control units in domestic market and ultimately steadying the growth of the market in South Korea.
India is expecting a healthy growth for the automotive electronic control units market during the forecasted period owing to the presence of huge number of OEM manufacturing and cheap cost of raw material. Well developed chemical industries, increasing government support and availability of skilled labor force have supported the growth of the market. In near future, the automotive electronic control units market in India is expecting stunning growth as many major automotive players are trying to enter in the market.
Some of the key players analyzed and profiles in this market 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, and Pektron Group Limited.
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