Electric Vehicle Control Unit Market

Electric Vehicle Control Unit Market

Growth Factors of Electric Vehicle Control Unit Market

The electric vehicle control unit market size was valued at USD 9.68 billion in 2022, and the market is now projected to grow from USD 12.91 billion in 2023 to USD 39.57 billion by 2030, exhibiting a CAGR of 17.4% during the forecast period of 2023-2030.

The COVID-19 pandemic positively affected the electric vehicle control unit industry. The pandemic directed to the shutting of automotive component assembly plants and large-scale manufacturing establishments. Lockdowns, supply chain disruption, and reduced customer spending affected making and sales in the automotive industry. However, as the pandemic encouraged a better emphasis on viable transportation and condensed discharges, importance in electric vehicles augmented.

Electric vehicles have involved systems that need control units to cope numerous purposes, such as battery management systems, motor control, recreating braking, and power supply. This difficulty leads to a higher demand for vehicle control units. EV control units play a vital role in enhancing the performance of electric vehicles. The control unit achieves power delivery, turning distribution, and other acute parameters, resultant in enhanced acceleration, productivity, and complete driving experience. Thus, growing sales and demand for electric vehicles motivates the electric vehicle control unit market growth.

The progressive incorporation of machine learning and AI in Advanced Driver Assistance Systems (ADAS) is a continuing trend in the market. The movement is focused by the need to augment safety systems, efficacy, and complete driving experience. By leveraging AI and machine learning technologies, EV control units can process and examine massive amounts of actual data from devices, cameras, and other sources. This allows improved features, such as adaptive trip control, lane departure cautions, autonomous emergency slowing, and self-parking abilities.

Comprehensive Analysis of Electric Vehicle Control Unit Market

The market can be segmented in various ways, depending on the focus of analysis such as by vehicle type, by propulsion type and by application. Based on vehicle type, the market is segmented into passenger car and commercial vehicle. Based on propulsion type, the market is projected into Battery Electric Vehicles (BEV) and Hybrid Vehicles (HV). Based on application, the market is projected into ADAS, body & comfort, infotainment, and others.

Asia Pacific region is dominating the electric vehicle control unit market share due to existence of a strong automotive sector in developing economies.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include DELPHI Technologies (U.K.), Continental AG (Germany), Denso Corporation (Japan), Texas Instruments Incorporated (U.S.), HELLA GmbH & Co (Germany), Hitachi Automotive Systems Ltd. (Japan), Hyundai Mobis (South Korea), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Panasonic Corporation (Japan) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In December 2022, HELLA acknowledged a client order for its advanced coolant control hub (CCH). The company will also get the coolant control hub into sequence production for its all-electric pick-up or light truck platform. The company also received a series of orders for the presentation line of a German premibutum maker.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 17.4% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Vehicle Type

Passenger Car

Commercial Vehicle

By Propulsion Type

Battery Electric Vehicle

Hybrid Vehicle

By Application

ADAS

Body & Comfort

Infotainment

Others

By Region

North America (By Vehicle Type, Propulsion Type, and Application)

U.S. (By Vehicle Type)

Canada (By Vehicle Type)

Mexico (By Vehicle Type)

Europe (By Vehicle Type, Propulsion Type, and Application)

Germany (By Vehicle Type)

U.K. (By Vehicle Type)

France (By Vehicle Type)

Rest of Europe (By Vehicle Type)

Asia Pacific (By Vehicle Type, Propulsion Type, and Application)

China (By Vehicle Type)

Japan (By Vehicle Type)

India (By Vehicle Type)

Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By Vehicle Type, Propulsion Type, and Application)


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