Research Nester published a report titled “Automotive Electronic Control Unit (ECU) Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global automotive electronic control unit (ECU) market in terms of market segmentation by ECU capacity, vehicle type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global automotive electronic control unit (ECU) market is anticipated to attain a CAGR of ~30% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of application, into ADAS & safety system, body control & comfort system, infotainment & communication system, powertrain system, and others. Out of these, the ADAS & safety system segment is anticipated to hold a substantial share in the market over the forecast period on account of increasing government regulations on mandatory ADAS and safety systems in new vehicle.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006.
Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
The global automotive electronic control unit (ECU) market is estimated to grow on the back of increasing adoption of advanced technology in the automotive sector, and the growing demand of automobiles. Additionally, increasing demand for customizable control units in vehicles is estimated to boost the market growth. Along with this, increasing sale of cars globally, supported by the higher individual disposable income of the middle class, is further projected to fuel the market growth. According to the data by the International Energy Agency (IEA), in 2019, the total car sales reached 25 million cars in China, while 17 million cars were sold in the United States.
On the basis of geographical analysis, the global automotive electronic control unit (ECU) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is also anticipated to hold a notable market share by the end of 2022, owing to the rising demand for self-driving cars, accompanied by growing sales of electric cars in the region. Furthermore, the adoption of advanced technologies by car manufacturers is also projected to fuel the regional market growth.
Curious about this latest version of report? Obtain Report Details @ https://www.researchnester.com/reports/automotive-electronic-control-unit-ecu-market/3982
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Need for Customizable Management Unit in Vehicles to Boost the Market Growth
Automotive ECU is required for various functions in a vehicle, including, engine control, powertrain control, transmission, brake control module, central timing, suspension control, and others. The scope of customization in these control units, is expected to majorly drive the demand in the market. In addition to this, automobile manufacturers are investing in advanced technologies, which is also a major growth driver for the market.
However, high maintenance cost of automotive ECU is expected to operate as key restraint to the growth of global automotive electronic control unit (ECU) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive electronic control unit (ECU) market which includes company profiling of SAP SE, Continental AG, Mitsubishi Electric Corp., Autoliv Inc., Robert Bosch GmbH, BorgWarner Inc., DENSO Corporation, Accenture PLC, Tomtom International B.V., and Panasonic Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global automotive electronic control unit (ECU) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
0
