Report : North America 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)
ADAS and Safety System Segment to Dominate North America Automotive ECU Market During 2021–2028
According to a new market research study on “North America 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$ 7,444.50 million by 2028 from US$ 5,258.46 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report provides trends prevailing in the North America automotive ECU market along with the drivers and restraints pertaining to the market growth. Rising preference for electrification of vehicles and growing popularity of fully-autonomous cars are the major factor driving the growth of the North America automotive ECU market. However, defects in ECUs and expensive replacement hinders the growth of North America automotive ECU market.
In case of COVID-19, North America is highly affected specially the US. An exponential rise in the number of COVID-19 cases compelled governments in North American countries to impose lockdown in the respective countries. The majority of the manufacturing plants were shut down, municipalities were functioning at a slower pace than that in the past, and the automotive industry has been at a halt, which adversely affected the North American automotive ECU market in 2020. North America accounts for a major share of automotive ECU sales, and declining sales of ECU in North America might affect the growth of the lobal automotive ECU industry. The impact of the pandemic is expected to persist for a short term. The short-term effect of COVID-19 would not affect the recovery of the overall sales performance of the automotive industry; this is mainly attributed to the continuous promotion of passenger vehicles by various companies in the North America. However, the automotive sector is regaining its pace with the resumption of operations at manufacturing units, which would boost the adoption of automotive ECUs in the coming years.
The North America 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 the US, Canada, and Mexico.
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 North America 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, Continental AG formed a Joint Venture with Horizon Robotics, to be located in Shanghai, China. The JW is expected to leverage from Continental's expertise in Advanced Driver Assistance Systems and Automated Driving and Horizon Robotics focus on Artificial Intelligence processors and algorithms for intelligent driving.
Contact Person: Sameer Joshi
Email Id: email@example.com