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.
In electric vehicle electronics, an electronic control unit (ECU) is an embedded system that controls one or more electronics in an electric vehicle. The increased installation of advanced driver assistance systems (ADAS) features in automobiles is mainly boosting the number of ECUs used in the electric vehicle. According to BIS Research analysts, the global electric vehicle ECU market was valued at $5.05 billion in 2018 and is projected to reach $17.77 billion by 2024, registering a compound annual growth rate (CAGR) of 22.49% during 2019-2024.
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.
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).
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.
This research has been conducted to answer some of the most crucial questions about the electric vehicle ECU market:
- What are the major forces that are expected to increase the global market demand for EV ECUs during the forecast period, 2019-2024?
- What are the major challenges inhibiting the growth of the global electric vehicle ECU market?
- What was the revenue generated by the electric vehicle ECU market by type in 2018, and what are the estimates for the period between 2019 and 2024?
- Which application type is expected to dominate the global electric vehicle ECU market in the coming years (2019-2024)?
- Which are the key market players in the global electric vehicle ECU market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- What significant opportunities do the electric vehicle ECU manufacturers foresee?
- What is the consumption pattern of the electric vehicle ECU across end users in different regions and countries?
- Which are the major regions and countries that provide growth opportunities for the electric vehicle ECU market?
- Which different types of electric vehicle ECU are currently being used, and what are their key applications?
- What is the competitive strength of the leading players in the global electric vehicle ECU market?
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The report is a compilation of various segmentations, including market breakdown by ECU type, electric vehicle type, and region. The report highlights the key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the EV ECU value chain.
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With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies
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