The engine management system market is projected to grow to USD 63.2 billion by 2025 from USD 58.8 billion in 2020, at a CAGR of 1.5% during the forecast period. The major driving factors for the engine management system industry are stringent emission norms, fuel efficiency regulations and growing vehicle production around the globe. However, increasing sales of electric vehicles due to attractive government incentives is expected to impact engine management system market.
The automotive industry plays a crucial role in building the global economy.However, the COVID-19 outbreak disrupted the whole automotive supply chain on a global scale in the first 6–7 months of 2020.
The pandemic presented an uncertain recovery timeline for the automotive industry due to lockdown implementation and shutdown of manufacturing facilities in various parts of the world.The automotive industry faced four major challenges amid COVID-19—limited supply of vehicle parts, drop in new vehicle sales, shutdown of production facilities, and decline in working capital.
As the engine management system market is dependent on vehicle production, this market is expected to be impacted due to this outbreak. However, with growing normalcy and momentum in vehicle production, the engine management system market is expected to pick up pace in the coming years.
Position Sensors are estimated to be the fastest-growing and largest market share of the sensor segment Position sensors are must-have sensors inside an engine management system of any kind of vehicle.Position sensors generally consist of throttle position, camshaft position, crankshaft position, and EGR position sensors.
All above mentioned position sensors are installed in every vehicle owing to which the demand for position sensors is estimated to grow as the growing vehicle production across the globe. Moreover, as number of position sensors installed in each vehicle are multiple the growth rate for position sensors market is also estimated to grow at the highest CAGR during forecast period.
Passenger cars is expected to be the largest vehicle segment of the engine management system market Growing population has increased the overall demand for Passenger cars across the globe.Passenger cars production accounts for more than 75% of total vehicle production across the globe.
Moreover, due to betterment in income opportunities and increasing disposable income demand for vehicle is estimated to increase in countries such as India, Mexico and Brazil. Which will drive the market for engine management system market in forecast period.
Asia Pacific is estimated to be the largest geographical segment of the engine management system market The upcoming emission norms in Asia Pacific are the most prominent driving forces for the engine management system market.For instance, China implemented China 6a & 6b, India implemented BS VI norms in 2020.
Also, At the same time, the demand for luxury cars has increased considerably.The increase in demand for vehicles, especially premium passenger cars, has accentuated the need for better emission technologies and better engine performance.
Thus, the market for engine management systems in the region is expected to grow significantly in the coming years.
The breakup of primary respondents • By Stakeholder: Supply Side- 80% and Demand Side- 20% • By Designation: C level executives - 10%, Directors/Vice-Presidents - 30%, Others – 60% • By Region: Europe - 20%, Asia Oceania - 60%, North America - 20%
The engine management system market is dominated by global players and comprises several regional players as well.The key players in the engine management system market are Robert Bosch (Germany), Continental AG (Germany), Denso (Japan), and BorgWarner (US), Hitachi Automotive (Japan), Infineon technologies (Germany), Hella (Germany), Sanken (Japan), NGK spark plug (Japan).
The study includes an in-depth competitive analysis of these key players in the engine management system market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies.
Research Coverage The study segments the engine management system market and forecasts the market size based on component (ECU and Sensors), sensor type (Oxygen, Temperature, Knock, Position and Others), fuel type (Gasoline and diesel), vehicle type (passenger cars, light commercial vehicles, and Heavy commercial vehicle), Communication Bus type (CAN, LIN and Flexray), and region (North America, Europe, Asia Pacific, and RoW).
Key Benefits of Buying the Report: The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the engine management system market and the sub-segments.This will also help the key players to identify the highest potential region and design its product portfolio as per the market requirements.
A detailed study on ECU and sensors of engine management system, is expected to help manufacturers to understand the potential market for them.This report also includes various analysis like supply chain, average selling price analysis, value chain analysis, market ecosystem, porter’s analysis, regulatory landscape.
This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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