Europe automotive electronics control unit market is expected to record a CAGR of 5% over 2018-2024. The substantial growth can be credited to the large number of reputed automobile manufacturers in located in Italy, Germany and France. Additionally, increasing government legislation and supportive policies for the encouragement to bring down emission levels are further anticipated to propel the automotive electronics control unit market share.
The automotive electronics control unit market from passenger vehicles is expected to register a 6% CAGR over 2018-2024 as modern passenger cars have come to deploy various automated features such as energy-efficient engines and airbag security. Apparently, luxury passenger cars also deploy a number of ECUs as they are required for performance enhancement, further augmenting the industry growth via passenger cars.
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Luxury vehicles, in an effort to increase their efficiency, appeal and to gain a competitive edge, have introduced an increasing number of ECUs that range from advanced driving assistance benefits to 360º radar sensing. With the privileges of luxury cars being in demand among all car owners, ECUs have come to be used in most high and mid segment vehicles as well. The increasing adoption of electric and hybrid vehicles are also trends that would positively impact the growth of the automotive electronics control unit industry in the coming years. In electric vehicles ECUs include control unit degradation which is designed for the deactivation of unnecessary elements and improvement of electric function management, safety and energy consumption.
With an increasing number of luxury and autonomous vehicles fitted with advanced features and ADAS, automotive electronics control unit market has come to register a steady growth in the recent decade. Remarkably, the global shipments of automotive electronics control units are expected to record a CAGR of 6% over 2018-2024 with the overall automotive electronics control unit market size anticipated to surpass $95 billion by 2024.
However, ECUs are also deployed in commercial and utility vehicles that are designed to provide IoT-based functions that control and manage overall engine capacity functions. ECUs are in demand in commercial vehicles where they are needed to complex handling and control of components such as door modules. High consumption of the commercial as well as passenger vehicles is thus likely to escalate the growth of automotive electronics control unit market.
Battery electric vehicles, that are keener on being energy efficient, have come to deploy an increasing number of ECUS, accounting for 30% of the total unit of shipments in 2017. But several countries across the world are now trying to bring down emission levels in the atmosphere which is encouraging governments to undertake initiatives and programs that are being directly responsible for the increased adoption of ECUs and the eventual growth of the automotive electronics control unit market. Major automobile manufacturers are working to support such government initiatives and increasing the adoption of ECUs in their vehicles.
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Some of the pivotal companies delivering top-notch solutions in the automotive electronics control unit industry comprise Delphi Technologies, Bosch Group, Altera Corporation, Hyundai MOBIS, Hitachi Automotive Systems, Continental AG, Johnson Control, Mitsubishi Electric Corporation, Magneti Marelli, and Lear Corporation. Prominent players have been focusing on the development of technically-advanced products to gain an advantage over their rivals. Another emerging trend is the development of self-driving cars and semi-autonomous depicting the most recent connectivity technologies. Not to mention, several companies in China and the U.S. have already commenced autonomous vehicle testing adhering to the domestic regulations.
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