Automotive TCU Market Set to Surge from US$ 15.2 Billion in 2023 to US$ 22.4 Billion by 2033, Fueled by Technological Advancements and Improved Vehicle Performance

The automotive TCU market is predicted to be worth US$ 15.2 Billion in 2023 and rise to US$ 22.4 Billion by 2033. Demand initially expanded at a market CAGR of 3.2% between 2018 and 2022.

Technological improvements significantly drive the demand for automotive TCUs. Incorporating cutting-edge technologies into TCUs and ongoing innovation in gearbox systems increase vehicle performance, fuel efficiency, and user experience.

Automakers and TCU producers are making significant investments in research and development to stay on the bleeding edge of technology and provide consumers with cutting-edge solutions.

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Using machine learning and artificial intelligence technology in TCUs creates new possibilities. Algorithms based on AI and ML assess data from various vehicle sensors and instantly improve the efficiency of the gearbox and gear changes. Implementing AI and ML in automotive TCUs opens up new possibilities for the market players.

Key Takeaways

By 2033, the automotive TCU market in the United Kingdom is likely to expand, with a CAGR of 2.9%.
In 2023, the United States is expected to have a market share of 15.2% in the automotive TCU sector.
The automotive TCU market was significantly expanding, with a size of US$ 14,546.9 million in 2022.
By 2033, the automotive TCU market in China is likely to expand, with a CAGR of 4.5%.
In 2023, Germany is expected to expand significantly in the automotive TCU business, with an expected share of 7.1%.
By 2033, India is projected to expand significantly in the automotive TCU market, with a share of 5.1%.
In 2023, Australia is likely to develop significantly in the automotive TCU business, with an expected share of 0.3%.
Japan's automotive TCU industry share is projected to develop significantly, with a 7.9% share in 2022.
In 2023, the passenger car segment is likely to expand in the market with a significant share of 77.9% and is expected to hold a top spot in the market regarding vehicle type.
Based on the application, the automotive transmission segment is likely to dominate the industry in 2023, with a share of 73.9%.

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Competitors Winning Strategies

The automotive TCU industry is also significantly influenced by partnerships and collaborations between industry members. Using their combined knowledge, automakers and TCU manufacturers work together.

Partnerships between industry players seek to jointly create cutting-edge solutions, exchange information, and promote market expansion. Strategic partnerships aid in speeding up technology progress, extending market penetration, and meeting changing customer requirements.

Key Companies Profiled

Robert Bosch GmbH
Continental AG
Aptiv PLC
LG Electronics Inc.
Denso Corporation
Harman International Industries Inc.
Visteon Corporation
Valeo SA
Panasonic Corporation
Magneti Marelli S.p.A

Recent Developments:

Phillips Connect made many announcements in March 2022 to assist fleets and drivers in utilizing many innovative trailers. These announcements included new intelligent nose box gateways, backup cameras, and a partnership with Utilities to introduce the Utility Connect trailer telematics solution.
A 5G compatible TCU was launched by Harman International in April 2019 as part of a new strategy to update the cutting-edge technology inside of vehicles made by current automakers. With 5G network infrastructure, 5G TCU aids in delivering scalable mobile network access for connected automobiles. This TCU's foundational technology is based on a platform previously made available for mobile devices.

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Segmentation of the Global Automotive TCU Market

Application:

AT (Automatic Transmission)

CVT (Continuous Variable Transmission)

DCT (Dual Clutch Transmission)

Vehicle Type:

Passenger Car

LCV (Light Commercial Vehicle)

HCV (Heavy Commercial Vehicle)

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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This release was published on openPR.