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.
Albany, NY -- (SBWIRE) -- 02/03/2017 -- Technological upgradation is another strategy adopted by players such that the latest engine sensors, modern fuel pumps, and upgraded engine control units are offered to customers. Upgradation is also required as systems need to conform to the latest emission norms laid by countries across the globe. Maintaining quality standards in manufacturing automotive engine management system components is also an important strategy implemented by key players to boost sales.
Development of Fuel Efficient Engine Management Systems to Boost Demand
Market players are focusing on the development of more improved engine management systems that consume less fuel and offer enhanced engine power. This has reduced the requirement for fuel and has benefitted economies across the globe.
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Market players are manufacturing engine management systems that are significantly minimized in size so as to make the engines eco-friendly, without compromising on the performance of vehicles. Reduction in engine size increases fuel efficiency, leading to a better mileage. Technological advancements in engine management systems leads to an increase in the cost of these systems and acts as one of the prime drivers from the supply perspective.
Fuel economy standards such as carbon monoxide, carbon dioxide, and nitrogen oxide emission limits are getting stricter worldwide and thus, there are many restrictions on emissions. This has encouraged manufacturers to develop fuel efficient engine management systems complying with emission standards. Thus, the strict fuel economy norms and environmental regulations are the main driving factors of the automotive engine management systems market from the demand side.
Complexities in Installation and Maintenance of Engine Management Systems Stand in Way of Growth
Automotive engine management systems require consistent maintenance so as to give performance at an optimal level. Trained staff and experienced professionals are required for the installation and maintenance of these systems. Any malfunctioning in the engine management system can lead to serious consequences. Thus, the installation and maintenance of these systems are restricting the growth of the market. The high cost of the engine management systems owing to constant upgradation is another factor limiting the demand for these systems. The high investments in R&D, owing to the need to be updated with latest technologies and developing new products are also behind the increased cost of these systems.
Open Engine Management Systems to Open New Doors of Opportunity
An engine control unit is the main component of an engine management system and these systems perform optimally only when they are updated with the latest technology at definite intervals. Thus, engine control units need to be updated and replaced to increase the average life of the automobiles. This serves as a major opportunity for manufacturers in the automotive engine management system market.
Another factor that will drive the market and open new doors of opportunity for growth is the concept of open engine management system. Open engine management systems make use of EMS3 platform and open electronic software architecture. This provides a platform for hybrid electric sensors and electric propulsion.
By engine type, the gasoline engine segment is expected to lead in the market. The segment is expected to account for 63.6% of the global automotive engine management system market by 2021. On the basis of vehicle type, the passenger car segment is expected to lead, and account for 61.4% of the market. Europe is expected to lead in the future, and account for 35.9% of the global automotive engine management system market by 2021.