January 07, 2021
According to the research report titled ‘Global Automotive Engine Management System Market Size study with COVID-19 impact, by Vehicle Type (Passenger car, Large commercial vehicle and Heavy commercial vehicle), by Engine Type (Gasoline and diesel), by Components (ECU, Sensors- Pressure, Temperature, Speed, Position/Level, O2/NOX, Knock) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global automotive engine management system market was remunerated at USD 176.42 billion in 2019 and is expected to record a CAGR of 7.68% during 2020-2027.
Increasing complexity of electric components of vehicle and growing production of automobiles are the primary factors propelling the growth of global automotive engine management system market. As per International Organization of Motor Vehicle Manufacturer (OICA), passenger cars production rose from 72.10 million units in 2016 to 73.45 million units in 2017 globally.
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For those unversed, an automotive engine management system consists of engine control unit, sensors, fuel pumps, and other components. These components are important for effective functioning of the engine and transfers engine performance to engine management system.
On the downside, hefty cost of the system is likely to impede global automotive engine management system industry expansion over the forecast timespan. Moreover, the outbreak of COVID-19 pandemic has adversely impacted this domain, owing to disruption in supply-demand chain of automotive parts and raw materials in several regions.
Based on vehicle type, global automotive engine management system market is spilt into heavy commercial vehicle, large commercial vehicle, passenger car, and others. With reference to engine type, the industry is bifurcated into diesel, and gasoline. Speaking of component gamut, the market is classified into knock, O2/NOX, position/level, speed, temperature, sensors-pressure, and engine control unit (ECU).
Citing the geographical landscape, worldwide automotive engine management system market dynamics are defined by Asia Pacific, Europe, Latin America, North America, and Rest of the World. As per the report, North America leads the overall market forecast currently, on account of strict emission and fuel economy standards.
On the other hand, Asia Pacific automotive engine management system industry is poised to gain traction through 2027, creditable to increasing automobile production across the region.
Top companies in global automotive engine management system market sphere are Hella KgaA Hueck & Co., Sanken Electric Co. Ltd., NGK Spark Plug Co. Ltd., Sensata Technologies Holding NV, Infineon Technologies AG, Hitachi Ltd., Denso Corporation, Delphi Automotive Plc, Robert Bosch GmbH, and Continental AG.