Global Automotive Engine Management System Market 2023-2030

Global Automotive Engine Management System Market 2023-2030

Global Automotive Engine Management System Market Size, Share & Trends Analysis Report by Vehicle Type (Passenger Car, and Commercial Vehicle), by Component Type (Engine Control Unit (ECU), Engine Sensors, Fuel Pump, and Others), and by Sensor Type (Oxygen Sensor, Temperature Sensor, Position Sensor, Knock Sensor, and Others) Forecast Period (2024-2031)

The global automotive engine management system market is anticipated to grow at a CAGR of 3.7% during the forecast period (2024-2031). The market’s growth is attributed to the increasing demand for fuel cell technology adoption across the globe. The specific use of a fuel cell cooling package indicates an emphasis on fuel cell technology. Fuel cells' growth in automotive applications continues to be a driving factor, primarily since it offers a more sustainable alternative to traditional internal combustion engines. For instance, in April 2023, Modine Manufacturing Company launched the EVantage Fuel Cell Stack Cooling Package (FC-SCP). The EVantage FC-SCP is a commercial fuel cell system that has been modified to specific applications and low conductivity specifications. It employs company’s unique technology to maintain fuel cell propulsion systems at optimal temperatures while minimizing power draw. A flux-free heat exchanger, predictive cooling process, and waste heat recovery system are among the key features.

Segmental Outlook

The global automotive engine management system market is segmented by vehicle type, component type, and sensor type. Based on the vehicle type, the market is bifurcated into passenger car, and commercial vehicle. Based on the component type, the market is sub-segmented into ECU, engine sensors, fuel pump, and others (variable valve timing (VVT) systems, and on-board diagnostics (OBD)). Based on the sensor type, the market is sub-segmented into oxygen sensor, temperature sensor, position sensor, knock sensor, and others (oil pressure sensors, and manifold absolute pressure sensors (MAP)). The ECU subcategory is expected to capture a significant portion of the market share within the component type segment, owing to the growing demand for ECUs has been driven by the developing automotive industry and the rising number of passenger vehicles produced and sold.

The Temperature Sensor Sub-Segment is Anticipated to Hold a Considerable Share of the global Automotive Engine Management System Market

Among the sensor type, the temperature sensor sub-segment is expected to hold a considerable share of the global automotive engine management system market. The segmental growth is attributed to the demand for enhanced temperature sensing accuracy. Accurate temperature monitoring allows improved control over thermal conditions, that's essential for the dependability and durability of devices. This feature is particularly essential in high-power applications where specific operating temperatures are required. For instance, in December 2023, Infineon Technologies AG launched its new CoolMOS S7T product family with an integrated temperature sensor to improve the accuracy of junction temperature sensing. The addition of these items improves the durability, safety, and efficiency of numerous electronic applications. As a result of its superior R DS (on) and highly accurate, embedded sensor, the CoolMOS S7T is best suited for solid-state relay (SSR) applications for enhanced performance and reliability.

Regional Outlook

The global automotive engine management system market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the rising trend of automotive modification across the region .

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the global Automotive Engine Management System Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increasing sales of electric vehicles (EVs) across the region. The rise in EV sales has the potential to influence the automotive engine management system industry, as manufacturers prioritize the development of innovative systems designed specifically for EVs. According to the India Brand Equity Foundation (IBEF), in October 2023, the combined production of passenger cars, three-wheelers, two-wheelers, and quadricycles reached a significant volume of 2.1 unit. Similarly, the total production of passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycles totaled an amazing 6.0 million units in the first quarter of 2023-24. Furthermore, EV sales in India surpassed a significant milestone of 8,32,434 units during the same period, highlighting the country's expanding potential in the EV market.

Market Players Outlook

The major companies serving the automotive engine management system market includesContinental AG, Honeywell International Inc., Robert Bosch GmbH, Sensata Technologies, Inc., and Siemens AGand others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2022, Melexis has launched a new series of PCB-less pressure sensor ICs that deliver the highest degree of accuracy over lifetime. The MLX90824 measures absolute pressure and then provides a digital output signal using the SENT protocol, whereas the MLX90822 produces an analog output voltage.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global automotive engine management system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.