Press release
Global Automotive Engine Management System Market To Be Driven By The Growing Demand For Electronic Vehicles In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2020): Around USD 57.6 Billion
Forecast CAGR (2022-2027): 3%
The automotive engine management system industry is being driven by the growing demand for the electrification of automobiles in the automotive industry. The engine management system is a crucial component in controlling the emissions and performance of the automobile. Therefore, the demand for efficient and reliable engine management systems in both passenger and commercial vehicles is likely to propel the market growth.
The rising demand for passenger cars owing to the rising population and the increasing disposable incomes are estimated to bolster market growth. Meanwhile, the market growth in the Asia Pacific is likely to grow significantly over the forecast period owing to the increasing manufacturing of vehicles in countries like India and China, among others.
Industry Definition and Major Segments
An automotive engine management system is the arrangement of devices for controlling a vehicle's engine to control the emissions and enhance its performance. The engine control unit (ECU) is a crucial component of the engine management system that receives signals from various sensors. The unit makes calculations to transfer output signals and carry out various functions and operations within or around the engine.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/automotive-engine-management-system-market
On the basis of component type, the market is divided into:
Engine Control Unit (ECU)
Fuel Pump
Sensors
Others
The significant engine types of automotive engine management system in the industry includes:
Gasoline
Diesel
Others
Based on vehicle, the market can be segmented into:
Commercial Vehicle
Passenger Car
Others
The regional markets for automotive engine management system include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The growing technological advancements in the automotive industry to reduce fuel emission and enhance the fuel economy of vehicles is likely to bolster the market. The rising concerns about surging pollution levels and the growing requirements to curb global warming are predicted to propel the market for the automotive engine management system.
Moreover, the growing demand for electric vehicles owing to their fuel efficiency and cost-effectiveness is likely to bolster the market over the forecast period. As electric vehicles utilise various electronic components for efficient functioning, the demand for automotive engine management systems to control the components is surging. This, in turn, is likely to invigorate the market growth in the coming years.
Key Market Players
The major players in the market are Robert Bosch GmbH, Continental AG, Hitachi Automotive Systems, Ltd., Infineon Technologies AG, Delphi Technologies (BorgWarner Inc.), and DENSO Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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