Stringent fuel
economy standards and the rising demand for technologically advanced
engine management systems are the key factors aiding the expansion of
the market for automotive engine management systems. In a recently
published report, titled “Automotive
Engine Management System Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,”
Transparency Market Research studies the growth trajectory exhibited
by the global automotive engine management system market in detail.
The report also analyzes the factors driving and restraining the
market.
The report forecasts
the global market for automotive engine management system to expand
at a steady CAGR of 5.5% between 2015 and 2021. The market stood at
US$145.1 bn in 2014 and is anticipated to reach a valuation of
US$210.6 bn by the end of 2021.
An automotive engine
management system makes for one of the most integral parts in any
vehicle. This system enables the vehicle to function efficiently and
run smoothly on the road without any trouble. The system comprises an
engine control unit (ECU), engine sensors, fuel pump, and various
other components that help in transmitting data about the engine’s
behavior to the engine management system. The emission, fuel
efficiency, and the overall performance of every vehicle depend on
the automotive engine management system.
Currently, the world
recognizes the automotive industry as one of the fastest growing
domains exhibiting immense opportunities for technologically
upgrading vehicles for gaining better fuel efficiency and overall
performance. Hence, with the advent of the latest technologies, the
global automotive engine system market is poised to surge
exponentially. The system is also considered indispensable for HCV,
LCV, and passenger cars. Additionally, the rising disposable income
of customers will allow them to spend on high-end models of cars and
commercial vehicles, which will in turn fuel the demand for
automotive engine management systems.
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Based on engine
type, the global automotive engine management system market is
bifurcated into diesel and gasoline. Of these, gasoline-run engines
currently hold the largest share in the market. The dominance of this
segment is mainly due to its superior fuel combustion and low
maintenance needs. Based on vehicle type, the global automotive
engine management system market is segmented into HCV, LCV, and
passenger cars.
Regionally, the
global market for automotive engine management systems was led by
Europe in 2014. The presence of long-established original equipment
manufacturers (OEMs) such as Mercedes Benz, BMW, and Volkswagen in
the region aids the robust growth of the automotive engine management
system market in the region. Asia Pacific is also expected to emerge
as a lucrative market for automotive engine management systems with
rapid expansion of the automotive industry in the developing nations
in the region.
To provide a
comprehensive overview of the competitive landscape, the report
profiles companies such as Robert Bosch GmbH, Hitachi Automotive
Systems Ltd., Delphi Automotive PLC, Denso Corporation, Sensata
Technologies, Infineon Technologies AG, Continental AG, and
BorgWarner Inc. The strengths and weaknesses of these companies are
studied, and the threats and opportunities that they are anticipated
to witness in forthcoming years are analyzed in detail.
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