CHICAGO, Feb. 9, 2021
CHICAGO, Feb. 9, 2021 /PRNewswire/ -- According to the new market research report "Automotive Engine Management System Market by Vehicle Type (Passenger Car, LCV, & HCV), Engine Type (Gasoline & Diesel), Components (ECU, Sensors- Temperature, Position, Oxygen, & Knock), Communication Bus & Region - Industry Trends & Forecast to 2025", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 1.5% from 2020 to 2025, and the market size is expected to grow from USD 58.8 billion in 2020 to USD 63.2 billion by 2025. Stringency in emission norms and increasing vehicle production are projected to drive the Engine Management System Market.
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125 – Tables
57 – Figures
186 – Pages
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Sensor segment will hold the largest share of the Engine Management System Market
Increase in demand for better engine performance has propelled the growth of the engine sensors market. Today, almost all the vehicles that are manufactured are equipped with an engine ECU and sensors. Thus, there is tough competition between automakers to provide optimum engine performance while keeping tab on emission. This competition has increased pressure on OEMs to deliver technologically advanced automotive engine management systems. Also, the stringency in emission norms, have increased the demand for oxygen, pressure, temperature and knock sensors connected to engines. Thus, the increasing demand for stringent emission norms has also driven the growth of sensors and is expected to grow further in coming years.
Gasoline is the fastest-growing segment for engine management system as it is witnessing increasing demand in passenger car segment
The Gasoline Engine Management System Market segment is estimated to grow at the fastest CAGR during the forecast period. In addition, the implementation of Euro 6 and EPA Tier 3 norms, have forced OEMs to decrease the production of diesel-powered passenger cars. Alternatively, the adoption of EV is facing challenges such as limited battery range and higher charging time. Owing to which, the gasoline passenger cars is witnessing growth mainly North America and Europe region.
Moreover, similar trend can be seen in Asia Pacific region owing to upcoming regulations like China 6 a and 6b and India's BS-VI, the markets for gasoline vehicle are expected grow at a prominent rate in the coming years and boost the market for engine management system for gasoline vehicles.
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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 Automotive 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), BorgWarner (US), and Hitachi Automotive (Japan), Infineon technologies (Germany), Hella (Germany), Sanken (Japan), NGK spark plug (Japan).
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