Automotive Engine Management System Market: Current Analysis and Forecast (2022-2028)

Automotive Engine Management System Market: Current Analysis and Forecast (2022-2028)

A vehicle's engine management system is the configuration of equipment used to manage the engine. A variety of electronic and electrical parts make up the automobile engine management system, which helps to improve vehicle performance and provides power to drive the vehicle’s wheel. The increased awareness of customers towards the emission of CO2 and pollution levels has made automotive manufacturers develop advanced vehicles with no emission of gases. The factors such as the increasing attraction towards vehicles, demand for efficient transmission modes and growing government policies to manufacture advanced level of engines having no emission are driving the market growth during the forecast period. For instance, In December 2021, EPA finalized revised national greenhouse gas (GHG) emissions standards for passenger cars and light trucks for Model Years 2023- 2026. The final standards would achieve significant GHG emissions reductions along with reductions in other criteria pollutants

The Automotive Engine Management System Market is expected to grow at a steady rate of around 5% owing to the stringent emission and fuel economy standards. The favourable government policies to reduce emission is also a factor responsible for the growth of the market. For instance, in April 2020, US National Highway Traffic Safety Administration and Environmental Protection Agency mandated the greenhouse gas emission and Corporate Average Fuel Economy standards for passengers cars and light trucks and established new less stringent standards, model years 2017 to 2025 in phase 2.

• Based on engine type, the market is segmented into gasoline and diesel. The gasoline segment to grow with higher CAGR and is expected dominate the market throughout the forecast period. The gasoline segment is expected to grow due to increased demand for gasoline vehicles, owing to lower cost of ownership and maintenance, and stringent emission norms in developed countries is expected to fuel the demand for gasoline engine management system.
• Based on components, the market is segmented into engine control unit (ECU), engine sensors, fuel pump, and others. The ECU segment to grow with higher CAGR during forecast period due to rising demand for fuel efficiency and emission reduction. In addition ECU controls engine ignition timing, air-fuel mixture and other important functions which are driving the growth of the segment.
• Based on vehicle type, the market has been classified into passenger vehicles and commercial vehicles. The passenger vehicles category is to witness higher CAGR during the forecast period. Luxury cars are under the category of passenger cars, which have more ECUs than other types of cars because of improved features offered in vehicle management systems, such as better driver remote functions and updated vehicle software. The demand of luxury cars, rising disposable income, and improving consumer lifestyles have also been contributing to the expansion of the passenger cars market.
• For a better understanding of the market adoption of the automotive engine management system industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. The main factors propelling the engine management system market are the forthcoming emission standards in Asia Pacific. For instance, China introduced China 6a and 6b, and India implemented BS VI requirements in 2020. Additionally, the market for luxury vehicles has grown significantly at the same period. Consequently, it is anticipated that the market for engine management systems in the area will expand significantly over the coming years.
• Some of the major players operating in the market include Robert Bosch GmbH, ZF Friedrichshafen AG, Autoliv Inc., Continental AG, BorgWarner Inc, DENSO CORPORATION, HELLA GmbH & Co. KGaA., Panasonic Holdings Corporation, Hitachi, Ltd and Infineon Technologies AG