As per the ECU market report, the value of the market stood at USD 73.4 billion in 2019. The main features of the report include:A comprehensive study of the factors driving and restraining market growth;Detailed analysis of the market segments and opportunities;Tangible insights into the regional dynamics shaping the market; andMicroscopic examination of the leading players and their key strategies.
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Market RestraintSteep Decline in Sales & Closure of Plants amid COVID-19 to Stall GrowthThe economic fallout in the automotive industry precipitated by the COVID-19 pandemic is likely to hit the automotive electronic control unit market growth. For example, according to the Oxford Business Group (OBG), in March 2020 the demand for light vehicles in the European Union shrunk by 44%, while in the ASEAN it contracted by 40%. In the US, passenger vehicle sales reduced by 46% in April 2020, the OBG reported in June. Declining sales, lockdowns, and social distancing also forced several automakers to close their manufacturing plants, a trend that was highly noticeable in Europe. Fiat Chrysler, for instance, closed several plants across Italy, Poland, and Serbia in March 2020. Volkswagen and France-based PSA Group had to take similar measures. Such drastic turn of events is inhibiting the adoption of ECUs and stalling the growth of this market in the process.Regional InsightsIncreasing Purchasing Power in Asia Pacific to Favor Regional Market GrowthAsia Pacific dominated the automotive electronic control unit market share in 2019, boasting a market size of USD 35.5 billion. The region is expected to retain its apex position during the forecast owing to the rising willingness among consumers in the region to purchase high-end cars, which is a direct result of the increasing disposable income.In North America, the top growth driver for the market will be the increasing preference for advanced automotive ECUs for enhanced safety of occupants. On the other hand, the market in Europe is anticipated to showcase an impressive growth trajectory on account of the strong presence of some of the world’s biggest automakers, such as Volkswagen and BMW, in the region.
Competitive LandscapeInvestments in Cutting-Edge Technologies to Give Key Players Strategic EdgeKey players in the automotive ECU market are steadily expanding their investments in next-gen, cutting-edge vehicular electronics to gain a competitive edge over other participants. Besides this, companies are also partnering with other competitors to broaden their innovation horizons.
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Industry Developments:September 2020: DENSO Corporation announced the creation of a novel Electric Power Steering Motor Control Unit (EPS-MCU), which can achieve superior handling and safety of vehicles. It made its debut in the Toyota Harrier that was launched in June 2020.March 2020: Bosch collaborated with Nikola Motors to engineer the world’s first 40-ton fuel cell truck that will be mass produced. A key component of the Nikola Two trucks is the Vehicle Control Unit developed by Bosch to manage the complex electric & electronic power that these trucks need.
List of Key Companies Profiled in the Automotive Electronic Control Unit Market Report:NXP Semiconductors N.V. (Eindhoven, Netherlands)Valeo Inc. (Paris, France)Robert Bosch GmbH (Stuttgart, Germany)Hyundai Mobis (Seoul, Korea)Continental AG (Hanover, Germany)Delphi Technologies (London, U.K)Altera (Intel Corporation) (California, United States)Autoliv (Stockholm, Sweden)DENSO Corporation (Kariya, Aichi, Japan)ZF FRIEDRICHSHAFEN AG (Friedrichshafen, Germany)
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsMerger, Acquisitions, and PartnershipsDistributor Analysis – For Major PlayersGrowth and Penetration AnalysisPorter’s Five Forces AnalysisPEST AnalysisVendor LandscapeGlobal Bus Rapid Transit Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By Bus TypeStandardArticulatedOthersMarket Analysis, Insights and Forecast – By ApplicationUrban AreaOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificRest of the WorldTOC Continued…!
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October 26, 2020 at 05:18PM
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Automotive Electronic Control Unit Market to Hit USD 84 Billion by 2027; Increasing Demand for Efficient Engine Automation Solutions in Vehicles to Boost ECU Market Growth, Says Fortune Business Insights™ - GlobeNewswire
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