Automotive Engine Management System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021
Albany, NY -- (SBWIRE) -- 04/10/2019 -- The global market for automotive engine management system features a highly dynamic and competitive vendor landscape as the rising demand for fuel-efficient and high-performance vehicles globally is compelling automotive companies to bring in more efficient engine management systems in their products, observes Transparency Market Research in a recent report. Stringent regulations pertaining to emission control and fuel efficiency of automotive engines are driving research and development activities in the market, further increasing the level of competition in the market.
Some of the leading companies operating in the global automotive engine management system market are Hitachi Automotive Systems Ltd., Robert Bosch GmbH, Sensata Technologies, Denso Corporation, Continental AG, Infineon Technologies AG, Delphi Automotive PLC, and BorgWarner Inc.
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According to the report, the global automotive engine management system market will register a healthy 5.5% CAGR over the period between 2015 and 2021, rising from a valuation of US$145.1 bn in 2014 to a revenue opportunity of US$210.6 bn by 2021.
On the basis of the type of engine, the report covers the global automotive engine management systems market for diesel engines and gasoline engines. Of these, the segment of gasoline-run engines accounted for the dominant share in the overall market revenue in 2014 and is expected to retain dominance over the forecast period as well. This can be chiefly attributed to the low need for maintenance and superior performance of gasoline-based engines.
From a geographical standpoint, the market for automotive engine management system in Europe accounted for the dominant revenue share in the global market in 2014. The region is the leading consumer of automotive engine management systems owing to the presence of a large number of automotive OEMs such as BMW, Volkswagen, and Mercedes Benz, which organically aids the promising development of allied industries such as automotive engine management systems.
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Rising Uptake of High-end and Passenger Vehicles in Emerging Economies Drives Market
The steadily expanding global automotive industry has been recognized as one of the most lucrative industries of the present times, exhibiting vast opportunities for technologically refining vehicles for better performance and fuel efficiency. Thus, the introduction of new technologies capable of improving aspects such as fuel-efficiency and emission regulation are finding increased uptake in modern-day vehicles. This trend has emerged as one of the key driving factors for the global automotive engine management system market.
Considered indispensable for passenger cars, HCVs, and LCVs that can pass the stringent emission-control and fuel-efficiency regulations established across the globe, the market for automotive engine management systems is also benefiting from the steadily rising consumer-base for a variety of automobiles in several emerging economies. Micro-economic factors such as rising disposable incomes and the increased affordability of high-end and commercial vehicles to affluent middle-class people in emerging economies are pushing the market further.