According to a new report published by UnivDatos Markets Insights, The Automotive Electric Control Unit Market is valued at USD 50 Billion in 2022 & is expected to grow at a CAGR of 7% from 2023-2030. The analysis has been segmented into ECU Type (Below 16-Bit ECU, 32-Bit ECU, and 64-Bit ECU), Application (ADAS and Safety Systems, Body Control And Comfort System, Infotainment and Communication System, Powertrain System, Chassis System, and HVAC Systems), Propulsion Type (ICE, Hybrid, and BEV), Region/Country.

The electric control unit market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the electric control unit market. The electric control unit market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the electric control unit market at the global and regional levels.

Request for Sample Pages - https://univdatos.com/get-a-free-sample-form-php/?product_id=46533

Key Market Opportunities

The term ECU denotes electronic control unit, it’s a compact electrical device that plays a crucial role in controlling specific functions within a vehicle. Modern vehicles contain over 80 ECUs and manage everything from crucial functions such as power steering, braking, or engine control to comfort features like seat, wipers, or window adjustments. ECUs also are tasked to control the security and access features of the vehicle like airbags, braking, or keyless entries. ECUs go in every vehicle of today and are an integral part of the operation and safety of the modern vehicle, ensuring a safe, efficient, and comfortable journey. Furthermore, with the automotive industry undertaking strong innovations in recent decades, with the introduction of technologically advanced functions and features in the vehicle from passive safety features such as airbags and smart braking to an immersive user experience, infotainment, and connectivity is further boosting the demand for the electronic control units in the industry, as each new added feature and innovation requires its own ECU with its own power and connections. Going forward, with the rising autonomy in vehicles, the autonomous driving electronic unit (AD-ECU) are high in demand, as to achieve autonomy large amount of real-time data processing and controlling is required of all the installed equipment such as cameras, infrareds, LiDar, and numerous sensors and actuators. And with the growing demand the industry is also acting accordingly in terms of partnerships and product launches in this space. For instance, In January 2023, NVIDIA and Hon Hai Technology Group commonly known as Foxconn, announced a strategic partnership to co-produce automated and autonomous vehicle platforms. As per the agreement, Foxconn will be a manufacturer, producing electronic control units (ECUs) based on NVIDIA DRIVE Orin™ for the global automotive market. Foxconn-manufactured electric vehicles (EVs) will feature DRIVE Orin ECUs and DRIVE Hyperion™ sensors for highly automated driving capabilities.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the electric control unit market. Where the industry faced a decrease in passenger volumes as lockdowns, travel restrictions, and public health concerns have led to a sharp decline in consumer demand. This has resulted in reduced revenue for manufacturers due to lower demand for electric control units. Furthermore, the industry was also impacted due to supply chain disruptions as well.

Related Reports-

Middle East Electric Forklift Market: Current Analysis and Forecast (2022-2030)

EV Charging Kiosk Market: Current Analysis and Forecast (2022-2030)

Segmentation Details:

· Based on ECU type, the market is segmented into below 16-bit ECU, 32-bit ECU, and 64-bit ECU. The 64-bit ECU is anticipated to show significant growth in CAGR terms.

· Based on the application, the market is segmented into ADAS and safety systems, body control and comfort system, infotainment, and communication system, powertrain system, chassis system, and HVAC systems. The powertrain control unit holds a significant share of the market.

Electric Control Unit Market Geographical Segmentation Includes:

·        North America (U.S., Canada, and the Rest of North America)

·        Europe (Germany, UK, Spain, France, Italy, Rest of Europe)

·        Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

·        Rest of the World

The Asia Pacific region holds a major market share and is also poised to witness significant growth in the CAGR terms during the forecasted period. The Asia Pacific region has witnessed rapid growth in the automotive industry, with countries like China, India, Japan, and South Korea being major automotive manufacturing hubs. As vehicle production increases in the region, the demand for automotive electronic control units rises, in order to be installed for enabling advanced features that the automakers are providing in these vehicles as per the consumer demand needs. Furthermore, rising incomes, urbanization, and a growing middle class in many Asia Pacific countries have led to increased vehicle ownership. As more people purchase cars, the demand for automotive electronic control units also expands. For instance, in January 2023, as per CARS24, Indians’ average car buying budget increased an impressive 30 percent in 2022 from USD 5483 to USD 7310. Moreover, the rising demand for electric vehicles is also boosting the demand for electronic control units in these markets, where Asian countries are projected to produce almost 13 million electric vehicles in the year 2023. Whereas, in 2022, China has sold roughly 52% of the total EVs produced in the world, which amounts to almost 3.5 million units. India is currently at one-third of a million units and has shown a robust 168% growth on a y-o-y basis. Furthermore, emerging economies are also one of the largest markets due to their huge population with gradually increasing per capita GDP, and with the rising awareness, governments support, and great offerings from OEMs in terms of price and product is further developing a high growth environment for the electric vehicle segment in the APAC region. For instance, China (from a previous 2020 expiration date) extended its NEV subsidy program through the end of 2022. However, it has started to reduce basic subsidy amounts by 10%, 20%, and 30% per year (between 2020 and 2022). Through the end of 2023, it also extended the exemption from purchase taxes for NEVs.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the electric control unit market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the electric control unit market?

• Which factors are influencing the electric control unit market over the forecast period?

• What are the global challenges, threats, and risks in the electric control unit market?

• Which factors are propelling and restraining the electric control unit market?

• What are the demanding global regions of the electric control unit market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

We understand the requirements of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.