March 31, 2020
According to the research report titled ‘Europe Automotive Electronics Control Unit (ECU) Market Size By Capacity, Vehicle Type, Mode, Propulsion Type, Application – Industry Report, Growth Analysis & Forecast, 2018 – 2024’, available with Market Study Report LLC, Europe automotive ECU (electronics control unit) market is expected to cross USD 20 billion by the year 2024.
Growing preference for driving assistance systems owing to increased pervasiveness of road accidents along with strict government regulations pertaining to vehicle safety are prime factors driving the growth of automotive electronics control unit industry in Europe. High concentration of major automakers in the region and increasing disposable income are further aiding the market expansion.
The report states that 32-bit components segment is presumed to expand substantially during the forecast period. Launch of innovative automobile systems such as connected and automated features require high processing speeds and effective vehicle communication. Rising adoption of 32-bit ECU owing to numerous benefits such as reduced design complexity, reasonable cost, and extended power provision are stimulating the industry outlook.
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As per the study, Europe automotive ECU industry share from BEVs and HEVs is expected to grow significantly over 2018-2024. Increasing utilization of energy management systems in such vehicles is promoting the business scenario in Europe. Flourishing sales of electric and battery operated cars in order to reduce GHG emission and lower carbon footprint as well as to save fuel costs is fostering the demand for BEVs and HEVs across Europe, in turn supporting the segmental growth.
The prominent companies functioning in Europe automotive electronics control unit industry are Delphi Technologies, Mitsubishi Electric Corporation, Hitachi Automotive Systems, Lear Corporation, Hyundai Mobis, Continental AG, Denso Corp., and Bosch Group among others.
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