Advent of body control functions and increasing mid-size and luxury vehicle production are anticipated to trigger the growth of the body control module market. The global body control module market is projected to grow at a CAGR of 2.6% to reach USD 35.7 billion by 2027 from an estimated USD 29.2 billion in 2019. Increasing body electronic functions in modern vehicles and cost benefits associated with body control module are the primary enabler for the growth of the body control module market. However, the technical programming of the body control module is restraining the growth of the body control module market during the forecast period.
High-end BCM is the largest functionality segment of the body control module market during the forecast period. The rising demand for concierge body functions inside the vehicle and handling such critical function is imposing OEMs to use high-end body control module in their vehicle model variants.High-end BCM are installed with higher configuration microcontroller and other hardware component making it capable of handling complex body control functions.
These features makes it preferred choice for OEM for their high-end variants of vehicle models.
Light-duty vehicle segment is expected to dominate the body control module market.
Each light-duty vehicle is installed with the body control module for proper operations of other body control functions.OEMs are customizing/tuning the body control module for their respective vehicle models.
Considering the availability of customization in the vehicles, people are also willing to go for such vehicle offerings. This is the reason for the growth of the light-duty vehicle market in every region.
RoW is expected to record the highest growth rate during the forecast period. Most of the Tier I, II suppliers and OEMs are focusing on the automotive market of Rest of the world.Countries in the rest of the world category are becoming self-dependent and economically strong.
The production of vehicles in this region is increasing day-by-day.People in these countries are also looking out for high featured vehicles.
This is the reason for the growth of the body control module in the rest of the world region.
In-depth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the market. • By Company Type: Tier I – 47%, Tier II – 33%, and OEMs – 20% • By Designation: C Level – 43%, D Level – 39%, and Others – 18% • By Region: Europe – 36%, Asia Pacific – 32%, North America – 24%, and RoW – 8%
The market comprises major manufacturers such as Bosch (Germany), Continental (Germany), Lear Corporation (US), Hella (Germany), and Aptiv (UK). The study includes an in-depth competitive analysis of these key players in the market with their company profiles, recent developments, and key market strategies.
Research Coverage: The study covers the market across segments.It aims at estimating the market size and future growth potential of this market across different segments such as application, hardware, deployment, vehicle, and region.
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