Automotive Engine Management System Market Share, CAGR, Size, Status, Trend Insights, Forecast, 2027
Automotive Engine Management System Market Synopsis:
As per Market Research Future (MRFR)’s analysis, the global automotive engine management system market is expected to thrive at a CAGR of 7.68% during the forecast period. Its valuation has been estimated to grow from USD 141.3 Bn in 2016 to USD 235.6 Bn by the end of 2023. The growth of the market is directly dependent on the expansion of the automobile industry. Thus, the rising demand for personal and commercial vehicles is projected to drive the proliferation of the market over the next few years.
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The regulations enforced by the governments for the reduction in carbon emissions has resulted in the technological developments in the automotive engine management system market. It is presumed to lead the growth of the market over the next couple of years. The developing nations signify tremendous potential and are likely to be capitalized by the global players in the forthcoming years. This, in turn, has been prognosticated to aid the proliferation of the market through the projection period.
Market Segmentation:
On the basis of engine type, the automotive engine management system market is segmented into gasoline engine and diesel engine.
On the basis of components, the automotive engine management system market has been segmented into engine control unit (ECU), engine sensors, fuel pump, and others.
On the basis of vehicle type, the global automotive engine management system market has been segmented into passenger vehicles and commercial vehicles.
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Regional Analysis:
The global automotive engine management system market share, by region, has been segmented into North America, Europe, Asia-Pacific and the Rest of the World. Europe is likely to strengthen its foothold in the global marketplace over the next couple of years. The region houses a highly developed automotive sector which is poised to dominate the growth trajectory of the regional automotive engine management system market over the projection period.
Asia Pacific is projected to thrive at the highest CAGR over the assessment period. The growth of the region as a manufacturing hub has attracted investments from the global players of the market. It is presumed to influence the expansion of the automotive engine management system market positively. The market has been witnessing exceptional growth for the last two years. This trend is estimated to continue benefitting the market by accelerating revenue creation. In addition, the increasing purchasing power of the most populous country-level markets – India and China are anticipated to propel the proliferation of the automotive engine management system market in the foreseeable future.
Competitive Dashboard:
Some of the key players profiled in this MRFR report are Denso Corporation (Japan), Infineon Technology (Germany), Delphi Automotive (UK), Continental AG (Germany), Hella KgaA Hueck (Germany), Hitachi Automotive Systems (Japan), Sensata Technologies (Netherlands), Robert Bosch (Germany), NGK Spark Plug (Japan), and MBE Systems (UK).
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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