automotive ecu Market

The global automotive ECU market is expected to grow from US$ 28,155.75 million in 2021 to US$ 42,649.95 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.

APAC is expected to be one of the fastest growing region in the adoptions of automotive ECU. The region is expected to grow at around 6% to 7% by this year and accounts for two third of global growth. The current focus of Asian countries on the development of a solid and a strong manufacturing sector has boosted the prospects of the automotive manufacturing in the region. There are various factors such as growing vehicles production and sale that are expected to drive the growth of the automotive ECU market in this region. The automotive industry in North America continues to expand year on year, exhibiting steady growth rate. The region is concentrated with leading automakers, and tier 2 and small vehicle manufacturers. The economic rise in the region has a positive impact on the consumption pattern of passenger cars. The demand for premium cars is constantly increasing in North America due to steady economic progression. Owing to the increasing demand from North American mass, the automakers in the region are increasing their production line to meet the rising demand.

North America has a developed automotive market and is considered as one of the largest commercial vehicle producers and consumers nations across the world. The demand for commercial and military heavy-duty vehicles is all-time high in the region due to the continuously high need for logistics and transportation in countries such as the US, Canada, and Mexico. Thus, North America has recorded the significant sales of trucks, trailers, and other heavy-duty vehicles in recent years. The adoption of tire pressure monitoring systems (TPMS) on all commercial vehicles has been mandated by the US government. In addition, the Greenhouse Gas (GHG) regulation implemented by the US Environmental Protection Agency (EPA) is anticipated to catalyze the use of electric vehicles (EVs), thereby boosting the demand for automotive ECUs in the region.

The overall size of the automotive ECU market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the automotive ECU market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the automotive ECU market.