Press release
Blockchain technology to re-instate the Automotive Charge Management Control Unit Market
Nowadays, automakers are looking to provide customers with excellent battery charging features for electric and hybrid electric vehicles in the global market. Automotive charge management control units are used to control the charging of the battery.
An automotive charge management control unit is the main supervisory controller for the battery charger of a hybrid or an electric vehicle. It is capable of reading the input signals and is mainly responsible for managing the battery energy system and the on-board charging system in electric and hybrid electric vehicles.
Additionally, with support from the effective charging infrastructure in use at present, automotive charge management control units have become exceptionally efficient and this has created a unique selling proposition among consumers in global as well as regional markets.
Automotive charge management control units use advanced and intelligent charging technology, which ensures outstanding efficiency and performance. Another ideal feature of these new automotive charge management control units is that they have become extremely lightweight and compact, which further increases their attractiveness among end users in the global market.
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Automotive Charge Management Control Unit Market: Dynamics
At present, automotive charge management control units have not been commercialized yet as their conventional counterparts are more efficient and has greater performance. Conversely, the rapid growth of automotive charge management control units has also activated exhaustive debates, in which the environmental influences of retried and used batteries is a severe issues in the market.
Thus, the market for electric and hybrid vehicles is anticipated to grow with a market share in the coming future, due to the low emission and durable & enhanced operation life of these vehicles, which in turn will fuel the demand for automotive charge management control units. Despite the low presence of charging infrastructure globally, electric vehicles continue to remain a popular choice among consumers.
They are expected to hold major shares in terms of value and volume over the forecast period in the global market. The increasing production of electric vehicles is directly impacting the demand for auto-components such as automotive charge management control units. Thus, the increasing production of electric vehicles is estimated to propel the demand for automotive charge management control units as they have become a standard in all vehicle types in the global market.
Additionally, the vehicle parc or fleet, i.e. the total number of vehicles in use, has been witnessing rapid growth globally and is expected to retain this momentum in the coming years. This cumulative growth in the fleet is projected to provide good impetus to the growth of the automotive charge management control unit market.
The global market for the automotive charge management control unit is projected to grow with a prominent CAGR over the forecast period. Furthermore, the increasing use of blowers in commercial vehicles is expected to propel the growth of the automotive charge management control unit market in the near future.
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Automotive Charge Management Control Unit Market: Segmentation
By sales channel
OEM (Original Equipment Manufacturer)
Aftermarket
By vehicle type
BEV (Battery Electric Vehicle)
HEV (Hybrid Electric Vehicle)
PHEV (Plug-In Hybrid Electric Vehicle)
Electric Two Wheelers
Automotive Charge Management Control Unit Market: Regional Outlook
The automotive charge management control unit market is anticipated to witness significant growth over the forecast period. China is a prominent region in terms of electric vehicles. The total acceptance of electric two-wheelers can be attributed to the regulations that partially or completely banned the use of conventional two-wheelers in urban cities in China. China is a prominent exporter of automotive charge management control units to all major countries across various regions around the globe.
Additionally, these automotive charge management control units are also economical as compared to domestic products in the country. Hence, china captures a substantial share of the automotive charge management control unit market in terms of value as well as volume.
China and Japan automotive charge management control unit markets are expected to register prominent growth rates, owing to the increasing production of electric vehicles in these countries. The acceptance of green & clean electric vehicles in the U.S. and EU-5 countries has significantly grown over the past few years and is estimated to further rise in the coming years. This is anticipated to fuel the demand for automotive charge management control units in the global market.
North America and Europe markets are pegged to represent lucrative opportunities for participants. In the Asia-Pacific region, the automotive charge management control unit market is expected to be driven by the increasing popularity and investments in renewable energy resources as well as the increasing population.
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Automotive Charge Management Control Unit Market: Market Participants
Some of the market participants in the automotive charge management control unit market are Hella KGaA Hueck & Co., PI Innovo, Ecotrons LLC, Robert Bosch GmbH, KEBA, World Products Inc. and Renesas Electronics Corporation.
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