The global electric vehicle market accounted for $5.05 billion in 2018 and is expected to reach $17.77 billion by 2024

NEW YORK, June 15, 2020 /PRNewswire/ --

Read the full report: https://www.reportlinker.com/p05914843/?utm_source=PRN



Market Report Coverage - Electric Vehicle Electronic Control Unit

Market Segmentation

-- ECU Type - Body Domain Controller, Motor Control Unit, Battery ECU, Transmission ECU, Infotainment ECU, and others
-- EV Type - BEV, PHEV, and HEV

Regional Segmentation

-- North America - U.S., Canada, and Mexico
-- Europe - Germany, France, Finland, Austria, Sweden, and Rest-of-Europe
-- Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific and Japan
-- U.K.
-- China
-- Rest-of-the-World

Growth Drivers

-- Paradigm Shift from Mechanical to Electronic systems
-- High Demand for Infotainment Systems in Electric Vehicles
-- Growing Adoption of ADAS Technology

Market Challenges

-- Centralization of Vehicle ECUs Impacting the Volume Demand for Electric Vehicle ECU

Market Opportunities

-- Advent of Autonomous Mobility Services
-- Capitalize on Enabling Vehicle-to-Grid (V2G) Technology

Key Companies Profiled

Continental AG, DENSO CORPORATION, Robert Bosch GmbH, Pektron, ZF Friedrichshafen AG, Keihin Corporation, Tesla, Huber Automotive AG, Autoliv Inc., MITSUBISHI MOTORS CORPORATION., Hitachi, Ltd., Aptiv., JOYSON, Renesas Electronics Corporation., and SIGRA Technologies GmbH

Key Questions Answered:
-- How much revenue was generated by the global electric vehicle ECU market in 2018, and how much revenue is expected to be generated by the market by 2024?
-- What are the major market drivers, challenges, and opportunities in the global electric vehicle ECU market?
-- How is the global electric vehicle ECU market expected to grow during the forecast period, based on segments such as
o ECU Type
o EV Type
o Region, including North America, Europe, U.K., China, Asia-Pacific and Japan, Rest-of-the-World
-- What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
-- What are the key regulatory implications in developed and developing regions for electric vehicle ECU?
-- Which are the leading players with significant offerings to the global electric vehicle ECU market? What is the current market dominance for each of these leading players?

Market Overview

The global electric vehicle ECU market is mainly attributed due to the increased demand for efficient vehicles, such as BEVs and PHEVs, across the globe.Additionally, the implementation of certain regulations on both producers and consumers to control the emissions from conventional vehicles, which are hazardous to the environment, is also boosting the electric vehicle ECU market.

The increased demand for in-house infotainment systems in electric vehicles and increased installation of advanced driver assistance systems (ADAS) features in automobiles are driving the adoption of ECUs in electric vehicle.

A battery management ECU is an electronic regulator that monitors and controls the charging and discharging of rechargeable batteries.It also monitors and measures temperature and assures the adequacy of cooling.

A battery management system avoids the stress of heat and over-temperature, along with eliminating effects of excessive charging or discharging. It is essential for long battery life and optimum fuel efficiency.

The shift of automobiles from mechanical machines to electronic systems has increased the number of innovations such as infotainment, power steering, cruise control, HUD, in-car connectivity, and mobility.The increasing emphasis on advanced and innovative vehicle electronics technologies in electric vehicles is creating several opportunities for OEMs to expand their revenue stream and product portfolios.

The most prominent change in on-board electronics of electric vehicles is the electronic control unit (ECU).

The major factors hindering the market growth is the decentralized ECU architecture.Factors such as autonomous braking, adaptive cruise control, and potentially even autonomous driving capability will decrease the number of ECUs per vehicle.

The decentralization of ECU will also affect the weight and cost of vehicle.For instance, the centralization will optimize wiring which reduces the overall weight of the vehicle and increases the efficiency.

The centralization of ECU requires simpler protocols and fewer connections as compared to multiple ECUs.

The global electric vehicle market accounted for $5.05 billion in 2018 and is expected to reach $17.77 billion by 2024. The market is anticipated to grow at a CAGR of 22.49% during the forecast period 2019 to 2024. The market growth is mainly attributed to the rising number of government policies for electric vehicle, better availability of charging infrastructure and minimizing the level of carbon dioxide emissions. In addition, governments are coming up with awareness initiatives and incentives to encourage the adoption of electric vehicles, which is expected to drive the market growth during the forecast period.

Competitive Landscape

Earlier, the composition of automobiles was limited to mechanical machine before the introduction of the electronics in the automotive industry.An electronic component unit (ECU) plays an important role in the automotive electronics and as it controls one or more electrical system in electric vehicle.

In the present scenario, electric vehicles have multiple ECUs depending upon the features in the vehicles. Moreover, the changing consumer behavior toward the environment and sustainable development is boosting the growth of electric vehicles, thus proliferating the market of electric vehicle ECUs.

Continuous product expansions (launches and enhancements) and signing of partnerships and collaborations are some of the business strategies executed in electric vehicle ECU market. Several companies, including Continental AG, DENSO CORPORATION, Robert Bosch GmbH, Pektron, ZF Friedrichshafen AG, Keihin Corporation, Tesla and Autoliv Inc., among others, have been involved in product launches and enhancements. DENSO CORPORATION and Continental AG are continuously working on the electrification of mobility that will move toward a sustainable future.

Countries Covered
-- North America
-- U.S.
-- Canada
-- Mexico
-- Europe
-- Germany
-- France
-- Finland
-- Austria
-- Sweden
-- Rest-of-Europe
-- U.K.
-- China
-- Asia-Pacific and Japan
-- Japan
-- South Korea
-- India
-- Rest of Asia-Pacific and Japan
-- Rest-of-the-World

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