Electric Vehicle ECU Market Size is Worth USD 42.74 Billion in 2027 | Revenue Growth is Driven by Increasing Demand for Electric Passenger Vehicles Installation of Infotainment Systems in Vehicles, says Emergen Research
Vancouver, British Columbia, May 20, 2021 (GLOBE NEWSWIRE) — The global electric vehicle ECU market is expected to reach USD 42.74 Billion in 2027 and register a CAGR of 38.5% over the forecast period, according to the latest report by Emergen Research. Key factors driving market revenue growth are increased installation of infotainment systems and Advanced Driver-Assistance Systems (ADAS) and automated protection systems. In addition, increasing number of electronic components to perform more advanced functionalities of dashboard instruments, electric motors, telematics, and powertrain functions in electric vehicles is expected to continue to support market growth going ahead.
An Electric Vehicle (EV) is driven by an electric motor that is powered by batteries. The power is stored in the battery and a controller functions to deliver power to the electric motor. Power flow is regulated according to acceleration and desired speed the driver wishes to travel at.
Rising concerns related to rising greenhouse emissions and air pollution, as well as focus on reducing carbon footprint has resulted in a steady shift towards vehicles such as Alternative Fuel Vehicles (AFVs), electric vehicles, and hybrid and electric vehicles, including Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs)/Plug-In Hybrid Electric Vehicles (PHEVs). Electronic Control Units (ECUs) are used to control majority of functions of a vehicle including engine control, braking and safety systems, transmission, and even suspension.
Advancements in ECUs have resulted in deployment of more robust control as well as installation of smart on-board electronics in electric vehicles for electric drive and battery management. A transmission ECU is replaced with a battery management system and electric drive controller replaces engine ECU.
Supportive legislation from governments and regulatory authorities to enhance road safety is expected to continue to result in development and deployment of a variety of safety devices such as adaptive cruise control and front lighting, and anti-lock braking units. Increasing integration of electrical control units aid in reducing operation costs of EVs and steady production and adoption of electric vehicles is expected to revenue growth of the global electric vehicles ECU market to a significant extent over the forecast period.
ECUs enable avoiding unnecessary stress, heat, and over-heating in such vehicles, and particularly the power train. Also, the advent of advanced features such as in-car connectivity, power steering, and cruise control make integration of ECUs highly popular to ensure smooth functioning of EVs. However, ECU has a decentralized structure, and this is a key factor expected to impact deployment and result is re-development of other devices and units, and this could impact market growth to some extent.
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Some Key Highlights From the Report
- Among the capacity segments, the 32-bit electric vehicle ECU segment accounted for largest revenue share in 2019. Among other major vehicle components, the 32-bit ECU offers advantages such fulfils necessity for low power for operation and simplicity in design.
- Among the vehicle type segments, the commercial vehicle segment revenue is expected to register a CAGR of 36.6% over the forecast period. Revenue growth is driven by increasing expansion of electric vehicles in commercial fleets and rising concerns among fleet owners for the safety and security of these vehicles while in transit.
- Among the propulsion type segments, the hybrid vehicles segment accounted for largest revenue share in 2019. These vehicles are powered by battery as well as fuel. Preference for these types of vehicles is relatively high among consumers, and this is supporting revenue growth of this segment.
- Asia Pacific market size reached USD 1,600.4 Million in 2019, driven by relatively high demand for EVs in China and significantly high investment by major companies in developing countries, and rising production of EVs in countries in Asia Pacific.
- Major players in the market include Altera, Atmel Corporation, Continental AG, DELPHI Technologies, Denso Corporation, Autoliv Inc., Dow Corning Corporation, Hitachi Automotive Systems, Ltd., Hella KGaA Hueck & Co., and Hyundai Mobis.
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Emergen Research has segmented the global electric vehicle ECU market on the basis of capacity, vehicle type, propulsion type, application, and region:
- Capacity Outlook (Revenue, USD Billion; 2017-2027)
- Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
- Passenger Vehicle
- Commercial Vehicle
- Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)
- Battery Powered
- Application Outlook (Revenue, USD Billion; 2017-2027)
- ADAS & Safety Systems
- Body Electronics
- Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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