South & Central America Automotive Transceivers Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Protocol (CAN, LIN, FLEXRAY, and Others), Application (Safety, Body Control Module, Chassis, Powertrain, Steering Wheel, Engine, and Door/S

South & Central America Automotive Transceivers Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Protocol (CAN, LIN, FLEXRAY, and Others), Application (Safety, Body Control Module, Chassis, Powertrain, Steering Wheel, Engine, and Door/Seat), and Vehicle Type (Passenger Vehicles and Commercial Vehicles)

The South & Central America automotive transceivers market is expected to grow from US$ 215.40 million in 2022 to US$ 275.88 million by 2028. It is estimated to grow at a CAGR of 4.2% from 2022 to 2028.

Increasing Need for Communications in Automobiles is Driving the South & Central America Automotive Transceivers Market

Automobile manufacturers are continuously striving to improve safety and performance, and reduce the environmental impact of their products, along with enhancing comfort for vehicle occupants. This, in turn, increases the volume of data generated and communicated between electronic control units (ECUs) of vehicles, along with the reliance on the same, thereby contributing to the demand for automotive transceivers. Advanced vehicles, nowadays, utilize about five separate ECUs to address the elevating demand for next-generation, embedded networks, and high bandwidths. The growing requirement for bandwidth and embedded networks propels the deployment of transceivers in automobiles.

Earlier, only high-end cars had comfort and other prime features. However, these features are gradually becoming common in other car segments due to the declining prices of sensors and ECUs with economies of scale. Nowadays, hatchbacks, and B and C segment sedans are also equipped with these comfort and safety features. This has created a huge demand for ECUs and sensors in the automotive market, which triggers the demand for transceivers, as they connect all ECUs and sensors on a single mesh network. FlexRay, one of the key players in the automotive transceivers market, provides CAN for mainstream powertrain communications and Local Interconnect Network for low-cost body electronics to optimize cost and reduce transition challenges in high-end applications. The increasing applications of LIN in body electronics such as mirrors, power seats, and accessories; CAN in powertrain components such as engine, transmission, and ABS; and FlexRay in high-performance powertrain and safety systems further trigger the adoption of transceivers. Thus, increasing communications needs in automobiles propel the growth of the South & Central America automotive transceivers market .

South & Central America Automotive Transceivers Market Overview

Mexico and Brazil are largely contributing the highest sales of automotive in South & Central America. The growing investment in the production of vehicles is fueling the growth of the automotive industry. For instance, in April 2022, Nissan Motor Co announced its plan to invest US$ 276.12 million in its plant in Rio de Janeiro, Brazil, and launch new products such as Frontier pickup trucks between 2022 and 2025. In addition, in February 2022, Volvo's Brazilian unit announced that it would invest US$ 283.36 million in the country by 2025. In 2021, Volvo sold 21,800 trucks in Brazil, which increased by 45.7% compared to 2020. Thus, such growth prospects in the sale of commercial vehicles are expected to boost the demand for automotive transceivers, which is driving the South & Central America automotive transceivers market growth.

The rise in demand for electric vehicles equipped with safety features is making EV manufacturers increase its manufacturing capabilities, which is further aiding the usage of automotive transceivers in the vehicles. In 2021, all major vehicle markets in SAM reported an increase in EV sales. As per the local electric vehicle association—ABVE, EV sales in Brazil reached ~35,000 in 2021, an increase of 77% compared to 2020; it is expected to continue growing in the coming years. According to Chile's national automotive chamber, sales of zero- and low-emission light- and medium-sized vehicles increased by 231% in 2021. In addition, the growing investment in manufacturing plants is anticipated to drive the SAM automotive transceivers market. For instance, in January 2022, Great Wall Motor announced its plan to invest US$ 1.9 billion in Brazil over the next decade to manufacture electric and hybrid cars, which will serve as an export hub in Latin America. Hence, the growing investment in the automotive industry and the rising demand for EVs are influencing the demand for automotive transceivers in the region, which would drive the South & Central America automotive transceivers market growth over the forecast period.

South & Central America Automotive Transceivers Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Automotive Transceivers Market Segmentation

The South & Central America automotive transceivers market is segmented into protocol, application, vehicle type, and country.

Based on protocol, the South & Central America automotive transceivers market is segmented into CAN, LIN, FLEXRAY, and others. The CAN segment held the largest market share in 2022.

Based on application, the South & Central America automotive transceivers market is segmented into safety, body control module, chassis, powertrain, steering wheel, engine, and door/seat. The safety segment held the largest market share in 2022.

Based on vehicle type, the South & Central America automotive transceivers market is bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment held the larger market share in 2022.

Based on country, the South & Central America automotive transceivers market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of South & Central America. Brazil dominated the market share in 2022.

Broadcom Inc; NXP Semiconductors NV; Renesas Electronics Corp; Robert Bosch; STMicroelectronics NV; Texas Instruments Inc; and Toshiba Corp are the leading companies operating in the South & Central America automotive transceivers market.

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