NEWARK, DE / ACCESSWIRE / December 6, 2022 / According to Future Market Insights, demand for Vehicle Control Units (VCU) Market is expected to grow at a CAGR of 19.3% over the projected timeframe. The market is expected to be valued at US$ 11,102.5 million by 2033, up from US$ 1,901.1 million in 2023.
Rising demand for electric vehicles, as well as the increasing prevalence of automation in vehicles and the electrification of automotive parts, are expected to drive vehicle control unit sales (VCU). Rising public safety concerns, as well as rising demand for ADAS and automated safety systems, are some of the primary driving factors. However, high investment costs are a significant impediment to industrial development.
The demand for advanced electric vehicles and cutting-edge vehicle electronics technologies are key factors driving the vehicle control unit market's expansion. An increased focus on electric car features and the requirement for integrated vehicle electronics are anticipated to assist the industry. Advanced compact VCUs are being developed by businesses so they can handle and execute linked processes including ADAS, predictive technology, infotainment, body control, battery management, torque coordination, and autonomous driving.
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Key Takeaways from the Vehicle Control Unit (VCU) Market
The United States is expected to hold a 10.5% market share during the projection period. The region dominates the global market.
During the forecast period, Europe is predicted to be the second largest market, with a 6.4% share.
Asia Pacific is expected to be the fastest-growing and largest vehicle control unit market during the forecast period.
The China vehicle control unit market is expected to develop at a CAGR of 14.6% during the projected period.
The India vehicle control unit market is expected to be one of the areas with the biggest development potential, with a CAGR of 23.6%.
Due to the constant growth in the pace of production worldwide, which has increased in the manufacture and installations of VCU systems, the ICE category dominated the market with a 70.12% share for the Propulsion Type.
The market CAGR for ADAS systems was about 6.71%. The major automakers are incorporating ADAS technologies to increase the safety rating of their vehicles and win over customers, which is driving up demand for this industry internationally.
With a market share of 65%, the Passenger Cars sector of the Vehicle Type division topped the market.
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Who is Winning?
The global vehicle control unit (VCU) market is highly competitive with a large number of players. Some of the key players in this market are Texas Instruments (US), Mitsubishi Electric Corporation (Japan), ZF FRIEDRICHSHAFEN AG (Germany), Continental AG (Germany), Denso Corporation (Japan), Hyundai Mobis (Korea), Autoliv (Sweden), Robert Bosch GmbH (Germany), Altera (Intel Corporation) (U.S.), Valeo Inc. (France), Delphi Technologies (U.K.), NXP Semiconductors N.V. (Netherlands) These players have a strong presence in the global market and are well-positioned to capitalize on the growing demand for vehicle control units.
Recent Developments in the Vehicle Control Unit (VCU) Market
Mitsubishi said in February 2019 that it has developed the world's smallest power unit for a two-motor hybrid electric car (two inverters and one converter), weighing only 2.7 liters and generating a world-leading 150 kVA/l power density. The motor also has a world-class output power density of 23 kW/l.
In March 2020, Robert Bosch GmbH and Nikola Motor Company formed a partnership to develop a fuel cell truck. The central component of the advanced truck system is the Bosch vehicle control unit, which provides more computer capacity for advanced operations while reducing the number of separate components.
Continental unveiled the redesigned Safety Domain Control Unit (SDCU) in January 2018 as a backup for the Automated Driving System.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer's
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