Market Outlook
According to the report by Expert Market Research (EMR), the global automotive powertrain electronics market size is projected to grow at a CAGR of 7% between 2024 and 2032. Aided by the continuous advancements in vehicle technology and growing demand for fuel efficiency and emission reduction, the market is expected to grow significantly by 2032.
Automotive powertrain electronics encompass the electronic systems used in vehicles to control and optimise the function of the powertrain – the components that generate power and deliver it to the road surface. This includes engine control units (ECUs), transmission control modules, powertrain control modules, and sensors, among others. These systems are crucial for enhancing vehicle performance, fuel efficiency, and emissions control.
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Stringent global emission norms are one of the primary drivers of the automotive powertrain electronics market growth. Governments worldwide are implementing stricter emission regulations, pushing automakers to adopt advanced powertrain technologies that can reduce emissions and enhance fuel efficiency.
The growing trend of vehicle electrification and the development of hybrid and electric vehicles (EVs) are significantly impacting the powertrain electronics market. The shift towards EVs necessitates advanced electronic systems for efficient power management and battery control.
Consumers’ increasing demand for vehicles with improved performance, better fuel efficiency, and enhanced driving experience is further boosting the automotive powertrain electronics market demand. Advanced electronics play a crucial role in meeting these consumer expectations.
The integration of powertrain electronics with autonomous and connected vehicle technologies presents significant opportunities for growth. These integrations can lead to more efficient, safer, and smarter vehicles, catering to the evolving demands of modern mobility.
The global market varies across regions, influenced by factors like technological advancements, automotive production, and regional emission standards. In North America, particularly the United States, the market is driven by the adoption of advanced vehicle technologies and stringent emission standards. The presence of major automotive manufacturers and technology companies also contributes to the growth in this region.
The Asia Pacific region, led by China, Japan, and South Korea, is holding a substantial portion of the automotive powertrain electronics market share. This growth is fuelled by increasing vehicle production, governmental initiatives for vehicle electrification, and rising consumer awareness of fuel-efficient vehicles.
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Market Segmentation
The market can be divided based on device type, component type, vehicle type, and region.
Market Breakup by Device Type
- Power IC
- Module and Discrete
Market Breakup by Component Type
- Engine
- Chassis
- Transmission
- Steering
- Front/ Rear Axle
- Interior Trim
- Others
Market Breakup by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive powertrain electronics market. Some of the major players explored in the report by Expert Market Research are as follows:
- Infineon Technologies AG
- Texas Instruments Incorporated
- Renesas Electronics Corporation
- NXP Semiconductors N.V.
- STMicroelectronics International N.V.
- Robert Bosch GmbH
- Mitsubishi Electric Corporation
- Others
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