Research111's blog

The electric vehicle sensor market is slated to have a valuation of US$ 10,725.11 million in 2024. The greater number of electrical vehicles on the road is signaling positive things for the EV sensor market. As demand for sustainability grows, the electric vehicle sensor market is thriving alongside the EV sector.

The electrical vehicle sensor industry is slated to progress at a CAGR of 16.5% through 2034. The adoption of luxury electric vehicles is rising as a result of greater demand for automation and comfort among consumers. With the help of the ADAS and AD systems, electrical vehicle sensors are playing their part in making EVs more convenient to use, which is marked to fuel the market over the projected period.

By the time 2034 rolls around, the electric vehicle sensor market’s value is forecasted to hit US$ 49,392.50 million. As consumers get more aware of electrical vehicle working, the improvement of EV sensors is imprinting on their minds more often. The safety qualities provided by battery sensors are slated to add considerable value to the market.

Position sensors, temperature sensors, and more varieties of sensors are highlighted as drivers for the market’s growth. Sensors allowing consumers assistance with lane changing and parking, among other driving needs, are also informing the growth of the market.

Read more info @  https://www.futuremarketinsights.com/reports/ev-sensors-market 

Key Takeaways from the Electric vehicle sensor market

• The electric vehicle sensor market is expected to be US$ 10,725.11 million in size in 2024.
• Position sensor is the top product type in the market. Position sensors are expected to account for 42.9% of the market share in 2024.  
• OEMs are the predominant sales channel. For 2024, OEM sale is anticipated to account for 93.0% of the market share.
• India is expected to be a promising country in terms of progress for the market. The country is forecasted to have a CAGR of 18.8% from 2024 to 2034 in the market.
• South Korea and Australia are poised to be lucrative countries for the market. For the forecast period, the CAGR for South Korea and Australia is predicted to be 17.9% and 18.2% respectively.
• The market is expected to progress at a CAGR of 17.1% in Spain through 2034.
  

Competition Analysis of the Electric vehicle sensor market

Large multinational companies hold a significant share of the market, although the doors are not shut off for new entrants and startups. Partnerships with EV manufacturers are being sought to ease the sale process. Some of the prominent companies in the market include Analog Devices Inc., Denso Corporation, Amphenol Advanced Sensors, and Infineon Technologies AG

Recent Developments in the Electric vehicle sensor market

• In January 2024, the Xensiv TLI5590-A6W magnetic position sensor from Infineon was launched.
• In April 2022, it was announced that Denso Corporation’s sensors had found a place in two new electrical vehicles, the Toyota bZ4X and the Subaru Solterra.

The global aircraft tire market is projected to attain a valuation of US$ 1.8 billion in 2023 and is anticipated to reach US$ 3.3 billion by 2033, and is expected to increase at a CAGR of 6.2% during the forecast period.

The increasing demand for next-generation aircraft in both commercial and military sectors, along with a rise in aircraft procurement is expected to fuel market growth. The growing number of air travellers is also contributing to the demand for new aircraft, consequently driving the need for aircraft tires. Additionally, investments by the air defense sector in response to rising geopolitical tensions are anticipated to further fuel the market growth during the forecast period.

Get more info: https://www.futuremarketinsights.com/reports/aircraft-tire-market 

The demand for aircraft tires is expected to rise due to advancements in tire manufacturing technologies, including the utilization of next-generation materials such as synthetic elastomer rubber and cross-linkable rubber. These materials offer enhanced durability and contribute to improved fuel efficiency by reducing tire weight. Additionally, the growing demand for aircraft in both combat and non-combat operations in the defense sector, coupled with increased government investments in aviation infrastructure, is expected to drive the market forward.

The current global aviation market is experiencing a surge in air travel demand, leading to increased production of new aircraft to meet the growing needs of passengers. Consequently, this is expected to drive the demand for aircraft tires at a rapid pace. Furthermore, the rise in military spending for the acquisition of advanced military aircraft in both developed and developing regions is contributing to the increased demand for aircraft tires. Additionally, the demand for cost-effective aircraft tires is anticipated to fuel overall market growth during the forecast period.

Key Takeaways

• United States aircraft tire market is expected to grow with a CAGR of 6.1% during the forecast period.
• The market in Germany is expected to grow with a CAGR of 6% during the forecast period.
• By sales channel, the aftermarket sales segment is projected to grow with an impressive CAGR of 7.5% during the forecast period.
• The market in China is expected to grow with a significant CAGR of 6.3% throughout the forecast period.

“Advancements in tire manufacturing technologies and use of NextGen materials such as synthetic elastomer rubber are expected to drive market growth during the forecast period,” comments an FMI analyst

Competitive Landscape

The market for aircraft tires is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie Générale des Établissements Michelin, Dunlop Aircraft Tyres Limited, Petlas Tire Corporation, Aviation Tires & Treads, Polymer Enterprises Inc., Michelin, Maxam Tire International, Specialty Tires of America.

The global Automotive Engineering Services Market in 2022 was US$ 1.46 Billion and is estimated to be US$ 1.6 Billion in 2023. According to FMI, reports mentioned that the automotive engineering services market will expand at a CAGR of 7.17% between 2023 and 2033, totaling around US$ 3.2 Billion by 2033.

An increase in awareness and demand for technological solutions including connectivity, and collision avoidance sensors among others in automotive is driving the growth of the market. Rise in requirements for lightweight vehicles as governments and manufacturers are mainly focusing on the designs and development of lightweight vehicles for making more fuel-efficient vehicles.

Get more insights: https://www.futuremarketinsights.com/reports/automotive-engineering-services-market 

The increase in the requirements for safety-related systems because of government regulations is the major factor driving the automotive engineering services market. The growth in adoption of electric and hybrid vehicles is raising the production of these vehicles which is henceforth anticipated to propel the growth of the market over the forecast period.

Key Takeaways from the Market Study

• The global automotive engineering services market expanded at a CAGR of 6.42% between 2018 and 2022.
• India is forecasted to develop a 6.8% CAGR from 2023 to 2033.
• China is anticipated to expand at a CAGR of 7.2% from 2023 to 2033.
• North America has captured a market share of 43.2% in 2022.
• European market bolstered at a market share of 48.2% in 2022.
• Under the service segment, prototypes were registered at a market share of 56.2% in 2022.

“Demand for advanced and autonomous connectivity features is influencing innovation intensely and is one of the major key drivers of the automotive engineering services market”, commented a Future Market Insights analyst.

Market Competition

Companies aim to develop cutting-edge solutions during the entire life cycle of a product, from the design and inception phase to the end of its service life. They also strategically locate their main factories in emerging markets to make it ideal to service the developing markets.

Key companies profiled in the Automotive Engineering Services Market

1. FEV Group GmbH
2. IAV
3. Ricardo
4. AVL
5. ALTEN Group
6. Bertrandt
7. ALTRAN
8. L&T Technology
9. Capgemini Service SAS
10. T-NET JAPAN Co., Ltd.

The global aircraft cabin interior market is anticipated to attain a valuation of USD 20.7 billion in 2023 and is estimated to reach USD 37.6 billion by 2033, and is likely to increase at a CAGR of 6.1% during the forecast period.

In recent years, there has been a significant increase in long-haul flights, which are characterized by non-stop air travel lasting over seven hours. This trend can be attributed to the extended traveling range of aircraft, resulting in shorter travel times and fewer transit complications. However, long-haul flights can pose challenges for passengers, including fatigue, restlessness, jet lag, and overall discomfort. To address these issues, airline carriers are prioritizing passenger comfort, leading to a growing adoption of comfortable, customizable, and technologically advanced cabin interior systems.

Get more info: https://www.futuremarketinsights.com/reports/global-aircraft-cabin-interior-market 

The landscape of global air transport has been transformed by the emergence of low-cost airlines, as reported by the International Civil Aviation Organization (ICAO). In 2018 alone, low-cost carriers were responsible for transporting an estimated 1.3 billion passengers. This shift has created a surge in demand for aircraft interior refurbishment and space optimization, particularly from low-cost carriers and regional airlines.

As per the Boeing Commercial Market Outlook and Airbus Market Forecast of 2019, there is a strong anticipation of a substantial rise in global air travel demand in the next decade. This growth is expected to be supported by the entrance of approximately 200 million individuals into the middle-class category worldwide. Consequently, the market for cabin interiors is projected to expand, benefiting from this increased demand.

Key Takeaways

• United States aircraft cabin interior market is expected to grow with a CAGR of 6.1% during the forecast period.
• The demand for aircraft cabin interior in Russia is expected to grow with a CAGR of 5.9% during the forecast period.
• By distribution channel, the aftermarket segment is projected to grow with a CAGR of 6.8% during the forecast period.
• The market in China is expected to grow with a significant CAGR of 6.5% throughout the forecast period.

“A shift from conventional systems to more soothing and comfortable interior products in long-haul flights is expected to drive market growth during the forecast period,” comments an FMI analyst.

Competitive Landscape

The market for aircraft cabin interior is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are United Technologies Corporation, Zodiac Aerospace S.A., HAECO Group, Diehl Stiftung & Co. KG, Aviointeriors S.p.A., Geven S.p.A., Bucher Group, Panasonic Avionics Corporation, Turkish Cabin Interior Inc., SCI Cabin Interiors, Factorydesign and Honeywell International, Inc.

The Global Micro-mobility Charging Infrastructures Market was valued at US$ 3.8 Billion in 2021 and is expected to reach US$ 36.6 Billion by year 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, wired Micro-Mobility Charging Infrastructures will remain pivotal for the market as the bulk of revenue will be generated through this category, with a forecasted CAGR of 22.5%.

Wired Chargers to contribute the most to revenue

Wired Charging is expected to continue being the top category. It has an advantage over Wireless charging in speed, range and the ease of managing the thermal loss. Switching over to wireless may become an emerging technology as research increases in improving their efficiency.

Ready to make informed decisions for your business? Get our market overview sample and discover growth opportunities:
https://www.futuremarketinsights.com/reports/sample/rep-gb-15658

The US to continue being the leading component of revenue in the forecast period

The US will continue to be the leading market for micro-mobility charging infrastructure demand. Legislature such as the Bipartisan Infrastructure Law or the Infrastructure Investment and Jobs act, which assigned approximately US$ 7.5 Bn as funding for the building of a national network of EV chargers, and other programs such as the CMAQ Program and Surface Transportation Block Grant funding, will positively influence demand.

“Micro-mobility Charging Infrastructure manufacturers nowadays are closely working on improving their customer base, adapting to government policies, and developing safer and greener technologies.” comments an analyst at Future Market Insights.

Micro-mobility Charging Infrastructures Market: Competition Insights

At present, Micro-mobility Charging Infrastructure providers are largely aiming at gaining a foothold in the market and adapting to new technology and legislation. The key companies operating in the flexible screen market include Ather Energy, Beam, Bike-energy, Bikeep, Duckt, Electrify America LLC, Flower Turbines, Get Charged, Inc., Giulio Barbieri SRL., Gogoro, Ground Control Systems, Kuhmute Inc., Magment GmbH, Meredot SIA, Numocity Technologies Pvt Ltd., PBSC Urban Solutions, Perch Mobility, Robert Bosch GmbH, Siemens AG, Solum PV. Swiftmile, The Mobility House GmbH, Tier and WiTricity among others.

Some of the recent developments by key providers of Micro-Mobility Charging Infrastructure are as follows:

• In June 2022, Statiq, a charging network provider and Hala mobility, a mico-mobility EV startup announced a partnership that will allow Hala’s users to benefit from Statiq’s charging network.
• In April 2022, Gogoro went public, listing on NASDAQ after a SPAC deal merger with Poema Global as Gogoro, Inc under the symbols GGROW and GGR for warrants and shares.
• In March 2022, Germany-based Swobbee raised US$6.5 Mn in Series A funding. The company focuses on the commercialization of battery swapping.
• In February 2022, South Korea’s Swing raised US$24 Mn in Series B funding. The company plans to use the funds raised to increase their fleet and progress into the market in Japan.
• In January 2022, Germany’s Soltsol AG and announced a strategic partnership with Swiftmile. They plan to collaborate to establish LEV hubs at locations throughout the European Union, starting with Germany.
• In September 2021, Perch Mobility announced a partnership with LAZ Parking. The two companies plan to collaborate through the establishment of Perch’s Community Charging Portals in LAZ spots.
• In May 2021, South Korea’s LG Electronics Inc announced a partnership with Kickgoing. The two collaborated to establish 20 wireless electric scooter charging spots in Bucheon, South Korea.
• In October 2021, in the joint venture created by battery swapping provider Gogoro and China’s Yadea and DaChangJiang, both vehicle manufacturers invested a combined US$ 50 Mn into the venture. They initially launched 45 battery swap stations and compatible vehicles in Hangzhou, under the Huan Huan brand.
• In April 2021, HeroMotoCorp and GogoroInc announced a strategic partnership. Under this partnership, they plan to establish a battery swapping joint venture under which they will combine Gogoro’s battery swapping expertise and Hero’s expertise in the manufacturing of scooters to introduce new vehicles for the Indian Market.

The global electric cargo bike market is expected to attain a valuation of US$ 2.1 billion in 2023 and is projected to reach US$ 6.2 billion by 2033, expected to rise at a CAGR of 11.4% during the forecast period.

The rise of e-commerce has sparked an increased need for last-mile delivery services, a demand that electric cargo bikes are well-positioned to meet. In urban areas, where congestion and limited parking spaces can hinder delivery vans or trucks, electric cargo bikes offer an efficient solution. These bikes enable quicker and more cost-effective deliveries, addressing the challenges of congested urban environments. With the continued growth of e-commerce, the demand for electric cargo bikes is expected to rise further.

Get more information: https://www.futuremarketinsights.com/reports/electric-cargo-bikes-market 

The demand for electric cargo bikes is anticipated to rise due to increased investments from key players driven by the growing e-commerce industry. For example, on November 24, 2022, Amazon, specializing in e-commerce, announced plans to expand its United Kingdom electric-cargo bike fleet in the coming years. This expansion aims to enhance foot-based deliveries, contributing to the decarbonization of the transportation network used for package deliveries across the country.

The rise in e-commerce and the impact of the pandemic have led to an increased demand for home deliveries of products and services. In response, businesses and industries are investing more in improving logistics and transportation to minimize downtime, save costs, and enhance customer satisfaction.

Key Takeaways

• The United States electric cargo bike market is expected to grow with a CAGR of 9.5% during the forecast period.
• The demand for electric cargo bikes in Australia is expected to grow with a CAGR of 11.5% during the forecast period.
• By battery type, the lithium-ion battery segment is projected to grow with an impressive CAGR of 12% during the forecast period.
• The market in Germany is expected to grow with a significant CAGR of 11.6% throughout the forecast period.

“The thriving e-commerce industry and use of electric cargo bikes for fast parcel deliveries are expected to drive market growth during the forecast period,” comments an FMI analyst.

Competitive Landscape

The market for electric cargo bike is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are Jiangsu Xinri E-Vehicle Co. Ltd., Jinhua Jobo Technology Co., Ltd., CERO ELECTRIC CARGO BIKES, Worksman Cycles, DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH ), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc, Amsterdam Bicycle Company, Triobike.

According to Future Market Insights (FMI) reports, the global automotive OEM market is poised to achieve a steady compound annual growth rate (CAGR) of 4.17% throughout the forecast period. As of 2023, the market is valued at US$ 35.16 Billion. Looking ahead, projections suggest that the automotive OEM market's value is set to soar, with an estimated market valuation of US$ 52.90 Billion by the year 2033. Notably, during the base year, analysts recorded a historical market valuation of US$ 32.4 Billion for the same market segment. These findings indicate substantial growth and potential opportunities for the automotive OEM industry in the coming years.

It is analyzed by the experts that demand for a large number of commercial and passenger vehicles is a major contributor to the expanding market size of automotive OEMs. Consumers are becoming more aware of their safety while traveling and this aspect is fueling the demand for automotive OEM products in 2023. There are several technological advances made by manufacturers to gain an upper hand in the market.

Read more insights: https://www.futuremarketinsights.com/reports/automotive-oem-market 

The rise in disposable income across developing economies is resulting in increased spending on personal vehicles, simultaneously fueling the market growth of automotive OEMs. However, the high cost of automotive OEM products is a crucial factor impeding the growth of the industry. Furthermore, the prevalence of counterfeit automotive OEM products is estimated to challenge the expansion of the market through 2033.

Key Takeaways from the Automotive OEM Market

• The automotive OEM market is estimated to surpass a valuation of US$ 52.90 Billion by the end of the projection period.
• An approximate surge of US$ 2.76 Billion has been witnessed from the base year to the current year in the automotive OEM market.
• The commercial vehicle type segment is projected to advance at a CAGR of 6.8% through the forecast period.
• The powertrain segment by component type category is likely to dominate the automotive OEM market, with a market valuation surpassing US$ 439.67 Billion by 2033.
• The United States automotive OEM market is projected to advance at a moderate pace registering a CAGR of 6.6% during 2023-2033.

“Demand and production of high-performance cars are projected to curate lucrative growth prospects for advancement of the industry through the foreseen years.” – Says an FMI Analyst.

Competitive Landscape in the Automotive OEM Market

Due to the existence of numerous international and regional companies, the market for automotive OEMs is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development. The key players are adopting various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world. Therefore, the market is projected to register significant growth through the forecast period.

Some of the key companies in the market are

Toyota Motor Corporation., Volkswagen AG., Nissan., Honda Motor Co., Magna International Inc., Continental AG., CIE automotive., Siemens., BMW AG., Exide Industries Limited., Denso Corp., Robert Bosch, GMbH., Valeo, Aptiv, Ford Motor Company., Mitsubishi Motors Corp.

The automotive glass market is anticipated to secure a valuation of US$ 3.85 billion in 2023 and is estimated to rise to US$ 5.70 billion by 2033. The market is securing a CAGR of 4% during the forecast period. 

Government-Imposed Stringent Safety Norms to boost the Automotive Glass Market

The implementation of stringent safety norms by the government can have a positive impact on the automotive glass market. The automotive industry is highly regulated in terms of safety standards, and the use of high-quality glass is an important aspect of ensuring the safety of passengers.

Governments may impose regulations requiring automakers to use specific types of glass, such as laminated glass, designed to resist impact and prevent shattering. These types of glass can help reduce the risk of injury in the event of an accident, making them essential components of modern vehicles.

Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-2262

The increasing demand for advanced driver assistance systems (ADAS) in vehicles has also boosted the demand for high-quality automotive glass. ADAS technologies such as lane departure warnings, and blind spot detection rely hugely on sensors and cameras that require clear, high-quality glass to function properly.

Overall, implementing stringent safety norms can help increase demand for automotive glass and ultimately lead to safe vehicles on the road.

Key Takeaways: 

• The automotive glass market is registering to have a valuation of US$ 5.70 billion by 2033. 
• With a CAGR of 4%, the global market is increasing during the forecast period. 
• The market in the United States dominates the global market by capturing a maximum share through 2033. 

Who is Winning?

There are several competitive players in the automotive glass market, each playing strategic role in the industry. Here are some of the key players:

• Saint-Gobain S.A.: One of the leading players in the automotive glass market, Saint-Gobain S.A. is a French multinational company that produces a wide range of glass products, including automotive glass. The company's strategic focus is on innovation and sustainable development.
• AGC Inc.: AGC Inc. is a multinational glass manufacturing company in Japan known for producing high-quality glass products. The company strongly focuses on research and development and constantly works to improve its products and processes.
• Nippon Sheet Glass Co., Ltd.: Nippon Sheet Glass Co., Ltd. is anotherglass manufacturing company in Japan that produces various glass products for the automotive industry, including laminated and tempered glass. The company's strategic focus is on global expansion and growth.
• Fuyao Glass Industry Group Co., Ltd.: Fuyao Glass Industry Group Co., Ltd. is a glass manufacturing company in China that produces a wide range of automotive glass products, including laminated glass. The company focuses on vertical integration and improving its supply chain efficiency.
• Guardian Industries Corp.: Guardian Industries Corp. is a multinational company in America that produces a range of glass products, including automotive glass. The company's strategic focus is on innovation and developing new products that meet the evolving needs of its customers.

Read more: https://www.futuremarketinsights.com/reports/automotive-glass-market 

Other Prominent Players in the Market are:

A.G.C. Inc., Nippon Sheet Glass Co. Ltd., Saint-Gobain Sekurit, Fuyao Glass Industry Group Co. Ltd., Pilkington Automotive Limited (N.S.G. Group), Central Glass Co. Ltd., Guardian Industries Corp., Vitro, S.A.B. de C.V., Xinyi Glass Holdings Limited, Gentex Corporation, Magna International Inc., Webasto Group, Shenzhen Benson Automobile Glass Co. Ltd., Splintex Distribution AG, Carlex Glass America L.L.C. 

The global automotive interior ambient lighting system market in 2022 was US$ 36.2 billion and is estimated to be US$ 37.23 billion in 2023. According to the Future Market Insights Market report, the interior ambient lighting system market is projected to expand at a CAGR of 6.41% between 2023 and 2033, totaling around US$ 69.1 billion by 2033.

Key Takeaways from the Market Study

• The global automotive interior ambient lighting system market in 2022 was US$ 36.2 billion.
• The automotive interior ambient lighting system market expanded with a year-on-year growth of 4.1% in terms of value in 2022 reaching a value of about US$ 3,066.0 million by 2022 end.
• The global business is anticipated to witness a considerable CAGR of 5.4% by value during the period between 2022 and 2030.
• East Asia automotive interior ambient lighting system market is the most prominent market, expanding at a CAGR of 5.6% by volume over the forecast period.
• The global automotive interior ambient lighting market expanded at a CAGR of 5.2% between 2018 and 2022.
• China is projected to be one of the prominent markets in the Asia Pacific region with a value share of 68.9% of overall sales of automotive interior ambient lighting systems in East Asia in 2022. It is further expected to secure a CAGR of 6.9% during the forecast period.

• Japan holds a market share of 24.3%.
• India is predicted to capture a CAGR of 5.8%.
• Australia is estimated to record a CAGR of 5.12%.
• North America is a key market in the automobile interior ambient lighting system industry holding a market share of 52.8%.
• The United States holds a significant part in the region with a value share of 38.2%.
• Europe's large automotive market holds a market share of 45.4%.
• Germany also has Europe's high concentration of OEM factories with a value share of 33.2%.
• The United Kingdom holds a second position in the market region, which is expected to thrive at a CAGR of 4.12%.
• LEDs are said to hold a prominent share of the market.
• The most preferred and dominant technology in the current scenario is the LED segment, which might remain in the similar position in the upcoming years with a market share of 62.1%.
• Aftermarket segment has the most preferred sales.
• Aftermarket segment is projected to expand at 5.1% CAGR by volume.
• Luxury vehicles are said to hold a leading position in the market.
• Luxury vehicles hold a market share of 39.8% in the market regions as they are synthesized for transporting passengers and are designed to seat more than five individuals.
• Centre console and dashboard is estimated to have significant demand in the market.
• Centre console and dashboard segment is expected to have the huge demand in the market with a value share of 47.88%

Growth in the trend of customization among customers is one of the key trends of the global automotive interior ambient lighting system market”, comments a Future Market Insights Analyst.

Get more insights @ https://www.futuremarketinsights.com/reports/automotive-interior-ambient-lighting-systems-market 

Competitive Scenario

Key Players Profiled in the Market

• Valeo SA
• HELLA KGaAHueck& Co.
• OSRAM Licht AG
• LSI Industries Inc
• Everlight Electronics Co., Ltd
• Toshiba Corporation
• DRÄXLMAIER Group.
• Oshino Lamps Limited
• Innotec Group
• Grupo Antolin
• DOMINANT Opto Technologies Sdn. Bhd

Recent Industry Development in the Global Automotive Interior Ambient Lighting System Market:

• In June 2023, LSI Industries Inc. (Nasdaq: LYTS), a leading United States based manufacturer of commercial lighting and display solutions, announced that it has earned the opportunity to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution.

The automotive ECU market is expected to record a CAGR of 4.7% during the forecast period. The market is anticipated to cross a market share of US$ 22.8 billion by 2033, while it holds a revenue of US$ 14.4 billion in 2023. 

The demand for automotive ECU rises with the increasing safety norms, rising sales of passenger cars, and increasing per capita income. Furthermore, the business growth of the automotive industry has also pushed vendors to adopt ECU systems for the advanced vehicles. The advent of AI and Machine Learning and its integration with ECU circuits delivers ease to the passenger and gives access to a wide number of applications from cooling to engine and cruise control.

Connecting the car control system to the smartphone with the help of an app that enhances the driving experience along with the ECU connect interface. The improved ECUs have also expanded the market.

For more insights: https://www.futuremarketinsights.com/reports/automotive-ecu-market 

Key Points

The Chinese market for automotive ECU holds the biggest market share and is expected to cross the biggest anticipated values of US$ 5.7 Bn by 2033 with a CAGR of 5.4%. The growth rate is rising for the Chinese market as the market thrived at a lower CAGR of 3.0% between 2017 and 2022. 

The Indian market for automotive ECU thrives at the highest CAGR of 6.6% during the forecast period while expecting revenue of US$ 895.9 Mn by 2033. The regional market flourished at an extremely lower CAGR of 0.7% during the previous forecast period. 

The research report of FMI states that the gasoline ECU segment continues to lead the product type category with a CAGR of 5.3% between 2023 and 2033. The growth is attributed to the higher number of passenger car sales. 

Based on the sales channel, the OEM segment thrives at a CAGR of 5.7% between 2023 and 2033 due to the higher amount of customer trust and better implementation.

Competitive Landscape

The major players in the automotive ECU market focus on creating machines and software that save a higher amount of fuel and provide a healthy equation to the engine. Automotive ECU manufacturers are setting up collaborations with other companies and launching new products in the ECU market.

The market has been described as consolidated. Some of the leading market participants included in this report are:

Continental AG, Denso Corporation, Garmin Ltd., Harman International, Infineon Technologies AG, Robert Bosch GmbH, Delphi Technologies, Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, Texas Instruments Incorporated, Panasonic, Aptiv, Verizon, Intel Corporation, Renesas Electronics Corporation, Microsoft Corporation, Kontron AG, ARM Limited, Fujitsu Limited, Microchip Technology Inc., Xilinx, STMicroelectronics, Sierra Wireless,, Zhuhai ENPOWER Electric Co., Intellias Ltd,, HYUNDAI MOBIS, Lear, Hitachi Astemo, Ltd., Marelli Holdings Co., Ltd., BorgWarner Inc.