August 30, 2022 14:42 ET | Source: STRATEGIC MARKET RESEARCH LLP STRATEGIC MARKET RESEARCH LLP
New York,United States, Aug. 30, 2022 (GLOBE NEWSWIRE) -- The value of the Automotive Electronic Control Unit Market size was USD 92.91 Billion in 2021 and will reach USD 151.78 Billion in 2030 with a 5.61% CAGR. An electronic control unit or ECU is regarded as one of the most advanced embedded systems that are most commonly used in the Automotive Electronics sector. It effectively controls one or more electrical systems/sub-systems of a vehicle. An abrupt increase in demand for the BEVs (Battery Evs) & Hybrid Evs (HEVs), a rise in the adoption rate of ECUs, along with significant improvements in the safety regulations and convenience norms are facilitating the market growth.
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A detailed insight into Automotive Electronic Control Unit Market:
Factors Augmenting the Growth Rate of the Automotive Electronic Control Unit Market:
(A steep increase in the demand for the BEVs (Battery Evs), & Hybrid Evs (HEVs), a rise in the adoption rate of ECUs, the rise in need for ADAS (Advanced-Driver-Assistance Systems) along with significant improvements in the safety regulations and convenience norms are expediting the market growth rate)
Segment Ramification of the Automotive Electronic Control Unit Market:
The Global Automotive Electronic Control Unit Market ramification is done based on Capacity, Vehicle Type, Application, Propulsion Type, & Geography.
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The 32 Bit segment accounted for the highest market share of 40.34% for the Capacity sector. These 32-bit ECUs have highly boosted the efficacy of the transmission control unit, engine control system, and automotive power tool of automobiles worldwide. A high-performance 32-bit ECU that can be modified for a quick prototyping is the UECU32. The majority of the functions of an automotive ECU are covered by this unit, which also provides an effective research platform for automotive electronic control. All of the input/output functions of the control unit are driven by the needs of spark ignition engines, compression ignition engines, and multi-fuel engines, respectively. All these factors are expediting the growth of this segment.
The Passenger Cars segment of the Vehicle Type section led the market with a share of 60.11%. The rise in the rate of manufacturing and sales of Luxury Passenger cars is facilitating market growth as most ECUs are used in these vehicles as compared to the other categories. In luxury cars, the ECUs improvise the driver-remote functions, upgrades the driving sensor efficacy, etc. A vital research survey by SMR reported that in 2022, the sale of luxury cars covered almost 17.71% of the total number of cars sold worldwide. Also, it delineated that BMW currently holds the 1st position worldwide in terms of luxury passenger car sales.
For the Application section, the Powertrain segment held 26.23% of the market share. Powertrain electronic control units are used to improve the engine's performance by regulating the vehicle's warning lights, valve timings, fuel injection, and spark timing. The powertrain electric control modules also have a number of useful qualities, such as being portable, small, and simple to install.
The ADAS systems held the fastest market CAGR of around 6.71%. The major automakers are adopting the ADAS solutions by integrating them to raise the safety rating of their vehicles and win over consumers, which is further boosting the demand for this sector globally. A pivotal research study stated that in 2021, almost 33.1% of the new vehicles sold in Europe, the USA, China, and Japan had ADAS features installed in them.
For the Propulsion Type, the ICE segment led the market with a 70.12% share due to the continuous rise in the rate of production worldwide, which in turn has resulted in an increase in manufacturing and installations of the ECU systems. SMR's research survey reported that a luxury ICE vehicle consists of almost 150 ECUs installed in it for the improvisation of its sophistications, operating efficiencies, and various other complexities.
For the Regional section, Asia-Pacific/APAC dominated with 41.68% market share. The rise in usage of the BEV and HEV batteries and the increase in ECU installations in countries China, Japan, Australia, India, and South Korea are proliferating the overall growth of this sector. SMR's research showed that by the end of 2020 in China, almost 4.9 million BEVs and HEVs were sold throughout the country, which accounted for nearly 1.75% of the total number of vehicles sold in China. Also, it was reported that in 2021 the demand for new-energy vehicles in China grew by almost 135% (around 3,83,000 units) compared to 2020.
Key Players in Automotive Electronic Control Unit Market:
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