Report : Asia Pacific Automotive ECU Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (ADAS and Safety System, Body Control and Comfort System, Infotainment and Communication System, and Powertrain System), Propulsion Type (Electric, Hybrid, and ICE), ECU Capacity (16-bit ECU, 32-bit ECU, and 64-bit ECU), and Vehicle Type (Heavy Duty, Medium Duty, and Light Duty)
32-bit ECU Segment to Dominate APAC Automotive ECU Market During 2021–2028
According to a new market research study on “APAC Automotive ECU Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application, Propulsion Type, ECU Capacity, and Vehicle Type” is expected to reach US$ 23,083.16 million by 2028 from US$ 14,715.72 million in 2021. The market is estimated to grow at a CAGR of 6.6% from 2021 to 2028. The report provides trends prevailing in the APAC automotive ECU market along with the drivers and restraints pertaining to the market growth. Burgeoning sales of premium cars and surging sales of SUV are the major factor driving the growth of the APAC automotive ECU market. However, operational failures in ECUs and overpriced replacement hinders the growth of APAC automotive ECU market.
In case of COVID-19, APAC is highly affected specially India. The containment measures imposed by governments in APAC have hindered the growth of the automotive and electronics sectors. China is a manufacturing hub and is among the countries that were hit by SARS-CoV-2 in early stages, which has ultimately impacted the production of automotive and electronics equipment. Further, interruptions in supply chains and logistics have adversely affected the procurement rate of various automotive and electronics equipment, including hardware components of automotive ECUs. India, South Korea, Japan, Vietnam, etc., have witnessed a sharp decline in the production of ICE and electric vehicles. APAC is an also a global manufacturing hub with countries such as China, Japan, South Korea, and India leading the global manufacturing sector. The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries in the region. China is the largest raw material supplier for various industries in the world. Thus, a disturbed supply of raw materials and components from China and other Asian countries is limiting the growth of the automotive ECU market.
The APAC automotive ECU market is segmented into application, propulsion type, ECU capacity, vehicle type, and country. Based on application, the market is divided into ADAS and safety system, body control and comfort system, infotainment and communication system, and powertrain system. The ADAS and safety system segment dominated the market in 2020 and infotainment and communication system segment is expected to be fastest growing during forecast period. By propulsion type, the market is broadly classified into electric, hybrid, and ICE. The ICE segment dominated the market in 2020 and electric segment is expected to be fastest growing during forecast period. On the basis of ECU capacity, the market is segmented into 16-bit ECU, 32-bit ECU, and 64-bit ECU. The 32-bit ECU segment dominated the market in 2020 and 64-bit ECU segment is expected to be fastest growing during forecast period. Whereas, based on vehicle type, the market is segmented into heavy duty, medium duty, and light duty. The light duty segment dominated the market in 2020 and heavy duty segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Aptiv PLC; Continental AG; Denso Corporation; Hitachi, Ltd.; Mitsubishi Electric Corporation; Pektron; Robert Bosch GmbH; TRANSTRON Inc.; Veoneer Inc; and ZF Friedrichshafen AG are among the leading companies in the APAC automotive ECU market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Veoneer, Inc. has signed a partnership agreement with a pioneer in LiDAR, Baraja, to industrialize their Spectrum-Scan LiDAR technology for the next market wave of L2+ through L4 autonomous vehicle applications. This makes Veoneer the developer, marketer, and integrator of a scalable Spectrum-Scan platform from Baraja to serve the automotive market.
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