The automotive engine management system market has seen steady growth, increasing from $57.90 billion in 2023 to $60.39 billion in 2024, with a CAGR of 4.3%. This growth is driven by tighter emission regulations, rising fuel prices, demand for fuel-efficient vehicles, expansion in the automotive sector, and popularity of hybrid and electric vehicles. By 2028, the market is expected to grow to $72.42 billion, representing a CAGR of 4.6%. The forecasted growth is supported by continued tightening of emission regulations, growth in electric and hybrid vehicle markets, focus on fuel economy, increased consumer awareness of environmental issues, and supportive government policies promoting green technologies. Emerging trends include integration with autonomous driving technologies, enhanced vehicle-to-everything (V2X) communication, AI and machine learning applications, smart sensors, and advancements in predictive maintenance technologies.
Major Driver In The Automotive Engine Management System Market
The growth in vehicle ownership is expected to boost the automotive key blank market. As more individuals opt for personal vehicles, the demand for key blanks for replacement and security purposes is rising. The Society of Motor Manufacturers & Traders reported a 6% increase in car registrations in 2024, reaching over 1 million vehicles. This growth in ownership is driving the automotive key blank market.
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Automotive Engine Management System Market Competitive Landscape
Volkswagen AG, Mercedes-Benz, Ford Motor Company, General Motors, Robert Bosch GmbH, Hitachi Automotive Systems, DENSO CORPORATION, ZF Friedrichshafen AG, AB Volvo, Continental AG, Mitsubishi Heavy Industries Ltd., Cummins Inc., Valeo, TE Connectivity, Infineon Technologies AG, NXP Semiconductors, Fiat Automobiles S.p.A, BorgWarner Inc., JTEKT Corporation, Dover Corporation, Sensata Technologies Inc., NGK SPARK PLUG CO. LTD., HELLA GmbH & Co. KGaA, CTS Corporation, Mobiletron Electronics Co. Ltd.
Key Automotive Engine Management System Market Trend
The automotive engine management systems market is advancing with technologies like barometric air pressure (BAP) sensors to optimize engine performance and fuel efficiency. BAP sensors measure atmospheric pressure to adjust engine functions. In June 2023, Infineon Technologies AG of Germany launched XENSIV barometric air pressure sensors, including the KP464 for engine control management and the KP466 for advanced pneumatic seat systems, providing precise measurements for improved vehicle functionality.
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Automotive Engine Management System Market Segmentation
The automotive engine management system market covered in this report is segmented –
1) By Component: Electronic Control Unit (ECU), Fuel Pump, Engine Sensors, Other Components
2) By Vehicles: Passenger Cars, Commercial Vehicles
3) By Fuel Type: Diesel, Gasoline
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
By Geography:The regions covered in the automotive engine management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the automotive engine management systems market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Automotive Engine Management System Global Market Report 2024 furnishes information about the global automotive engine management system market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
