Engine Control Unit (ECU) Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global engine control unit (ECU) market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The rising government regulation toward vehicle emissions is anticipated to drive the growth of the engine control unit market. For instance, in December 2021, US Environmental Protection Agency (EPA) revised national greenhouse emissions standards for passenger cars and trucks for model years 2023-2026. The final standards are projected to achieve significant GHC emissions reductions along with reductions in other criteria pollutants. Also, in July 2021, European Commission adopted a series of legislative proposals setting out how it intends to achieve climate neutrality in the EU by 2050. Thus, the EU has set stricter fleet-wide CO2 emissions targets. EU targets for 15.0% reduction in CO2 emission for 2025 and 37.5% reduction for 2030 for passenger cars. Thus, such stringent regulations are anticipated to drive the demand for the global engine control unit (ECU) market.

The rise in production of passenger and commercial vehicles coupled with government schemes in the automotive industry is anticipated to drive the growth of the engine control unit (ECU) market. For instance, as per the data published by India Brand Equity Foundation (IBEF) in 2022, India has sold 3.49 million units in passenger and commercial vehicle categories. In October 2021, the total production volume of passenger vehicles reached 2,214,745 units. The luxury car market had registered sales between 28000-33000 units in 2021, up from 20000-21000 units sold in 2020. Moreover, the automotive industry attracted foreign direct investment worth $30.51 billion between April 2000 and June 2021 accounting for 5.5% of the total FDI during the period according to the data released by the Department of Promotion of Industry and Internal Trade (DPIIT). Also, in September 2021, the Indian Government issued a notification regarding a PLI scheme for automobile and auto components worth $3.49 billion. Further, the Government of India projects the automobile sector to attract $8-10 billion in local and foreign investment by 2023.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Product Type
•By Vehicle Type
•By Distribution Channel
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Robert Bosch GmbH, Hitachi Ltd, and Continental AG. among others

A full report Engine Control Unit (ECU) Market of is available at:  https://orionmarketreports.com/engine-control-unit-ecu-market/106472/

Global Engine Control Unit (ECU) Market Report by Segment
By Product Type
•Gasoline ECU
•Diesel ECU
•Natural Gas ECU
By Application
•Passenger Cars
•Light Commercial Vehicles
•Heavy Commercial Vehicle
By Distribution Channel
•OEM
•Aftermarket

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.