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Automotive Engine Management System Market to Record Study Growth by 2021
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The report forecasts the global market for automotive engine management system to expand at a steady CAGR of 5.5% between 2015 and 2021. The market stood at US$145.1 bn in 2014 and is anticipated to reach a valuation of US$210.6 bn by the end of 2021.
An automotive engine management system makes for one of the most integral parts in any vehicle. This system enables the vehicle to function efficiently and run smoothly on the road without any trouble. The system comprises an engine control unit (ECU), engine sensors, fuel pump, and various other components that help in transmitting data about the engine’s behavior to the engine management system. The emission, fuel efficiency, and the overall performance of every vehicle depend on the automotive engine management system.
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Currently, the world recognizes the automotive industry as one of the fastest growing domains exhibiting immense opportunities for technologically upgrading vehicles for gaining better fuel efficiency and overall performance. Hence, with the advent of the latest technologies, the global automotive engine system market is poised to surge exponentially. The system is also considered indispensable for HCV, LCV, and passenger cars. Additionally, the rising disposable income of customers will allow them to spend on high-end models of cars and commercial vehicles, which will in turn fuel the demand for automotive engine management systems.
Based on engine type, the global automotive engine management system market is bifurcated into diesel and gasoline. Of these, gasoline-run engines currently hold the largest share in the market. The dominance of this segment is mainly due to its superior fuel combustion and low maintenance needs. Based on vehicle type, the global automotive engine management system market is segmented into HCV, LCV, and passenger cars.
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Regionally, the global market for automotive engine management systems was led by Europe in 2014. The presence of long-established original equipment manufacturers (OEMs) such as Mercedes Benz, BMW, and Volkswagen in the region aids the robust growth of the automotive engine management system market in the region. Asia Pacific is also expected to emerge as a lucrative market for automotive engine management systems with rapid expansion of the automotive industry in the developing nations in the region.
To provide a comprehensive overview of the competitive landscape, the report profiles companies such as Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Delphi Automotive PLC, Denso Corporation, Sensata Technologies, Infineon Technologies AG, Continental AG, and BorgWarner Inc. The strengths and weaknesses of these companies are studied, and the threats and opportunities that they are anticipated to witness in forthcoming years are analyzed in detail.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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