LONDON, Oct. 6, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the automotive ECU market, growth in demand for hybrid and battery electric vehicles is expected to drive market growth. automotive ECU market in the future. . Hybrid electric vehicles are powered by an internal combustion engine and one or more electric motors, while battery electric vehicles rely entirely on electric motors. The growing shift in consumer interests towards green transportation and growing government initiatives towards sustainable transportation solutions have contributed to increasing demand for hybrid and electric vehicles around the world. The rapid increase in demand for hybrid and battery electric vehicles is expected to drive the utilization of automotive ECUs as they are a vital component in the effective operation of electric and hybrid vehicles.
For example, according to a study published in the International Energy Agency (IEA), an intergovernmental organization based in France, global electricity increased to 10 million units in 2020, which represents an increase of 43% compared to the global car stock in 2019. Thus, growth in demand for hybrid and battery electric vehicles is expected to drive demand for automotive ECU solutions during the forecast period.
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The global automotive ECU market size is expected to grow from $75.10 billion in 2021 to $79.92 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The global automotive ECU market share is expected to grow to $99.47 billion in 2026 at a compound annual growth rate (CAGR) of 5.6%.
Product innovation is a key trend gaining popularity in the automotive ECU market. Organizations that provide automotive ECUs are increasingly focused on developing low-cost ECUs that can provide better services to their users and strengthen their position in the market. For example, in November 2020, Siemens, a Germany-based provider of automotive electronics solutions, launched Vehicle Cabin Consolidation Solutions (VCO2S), comprehensive software systems, and a hardware service offering that incorporates infotainment systems. and instrument clusters into a single high-performance ECU. With an emphasis on safety and security, automotive engineering teams can use VCO2S to reduce costs, speed time to market, and improve user experience while meeting the stringent cybersecurity and functional safety requirements of the automotive industry. Customers can save space and money by integrating in-vehicle infotainment (IVI) systems and instrument clusters into the same ECU with VCO2S. VCO2S provides essential features such as IP software and services for a consolidated cabinet design. VCO2S Base is delivered as a reference design that can be ported to the customer’s target hardware.
The main players in the automotive ECU market are ZF Friedrichshafen AG, Continental AG, Denso Corporation, Hyundai Mobis, Autoliv Inc, Robert Bosch GmbH, Delphi Technologies, Panasonic Corporation, Lear Corporation, Hitachi Automotive Systems Pvt. Ltd., Magneti Marelli SpA , Pektron Group Ltd, Mitsubishi Motors Corporation, NXP Semiconductors NV and Calsonic Kansei Corporation.
The global Automotive ECU market segments are categorized by ECU into 16-bit ECU, 32-bit ECU, 64-bit ECU; by type of vehicle in tourism, light commercial vehicle, heavy commercial vehicle, electric vehicle; by way in conventional, autonomous.
Pacific Asia was the largest region in the automotive ECU market in 2021, and it is also expected to be the fastest growing region in the global automotive ECU market during the forecast period. Regions covered in global Automotive ECU Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Global Automotive ECU Market Report 2022: Market Size, Trends and Global Forecast 2022-2026 is one of a series of new reports by The Business Research Company providing Automotive ECU market overviews, analyze and forecast the market size and growth for the entire market. Automotive ECU market segments and geographies, Automotive ECU market trends, Automotive ECU market drivers, Automotive ECU market restraints, Revenue, profiles and market shares of leading competitors in the Automotive ECU market over 1,000 industry reports, covering more than 2,500 market segments and 60 geographies.
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