NOIDA, India, Feb. 27, 2023 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Automotive Body Control Module Market was valued at more than USD 2.4 billion in 2021 and is expected to grow at a CAGR of around 3% from 2022-2028. The analysis has been segmented into Type (CAN and LIN); Vehicle Type (Passenger Car, Commercial Vehicle, and Electric Vehicle); Application (Interior and Exterior); Region/Country.
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The automotive body control module market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive body control module market. The automotive body control module market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive body control module market at the global and regional levels.
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Market Overview
Global Automotive Body Control Module Market is expected to grow at a significant rate of around 3% during the forecast period. Automotive body control module functions as a brain that controls different ECUs by sending and receiving signals through vehicles. It controls the multiple electrical functions of the vehicle to provide better safety and security to the vehicles. Additionally, strict government restrictions regarding carbon dioxide emissions and road safety, rising consumer expectations, expanding R&D in manufacturing organizations, and competition between key players to build superior electronic-equipped vehicles are also factors driving the growth of the market. For instance, July 2019, Denso Corporation and Toyota Motor Corporation jointly established a Joint Venture for R&D of next gen in-vehicles semiconductors.
Factors such as an increasing demand for electric vehicle, hybrid vehicles and increasing demand for advanced technology to enhance the safety of the vehicle are driving the growth of the markets
Some of the major players operating in the market include Continental AG, Aptiv, Mitsubishi Electric Corporation, Robert Bosch GmbH, Denso Corporation, HELLA GmbH & Co. KGaA, Mouser Electronics, Inc, Infineon Technologies AG, Harman International, and Tata Elxsi
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. During the pandemic everything was under restrictions like travelling, import and export, production and sales of units, which in turns disrupted the market and done a negative impact on the growth of the market.
The global automotive body control module market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on type, the market is segmented into Controller Area Network (CAN) and Local Interconnect Network (LIN). The LIN segment to hold a significant share of the market in 2020. It is used for communication between components in vehicles. Moreover, the LIN is less complex and ease to operate, helps to reduce vehicle weight, having lower total cost of ownership, and increased fuel efficiency are the driving factors of the segment.
- Based on vehicle type, the market is categorized into passenger cars, commercial vehicle, and electric vehicle. Among these, the commercial vehicle held a significant share in the market in 2020. This is mainly due to the growth of commercial units which require advanced vehicles with power steering system, anti-lock braking system, climate control system and others. All these factors fuel the demand of the market. For instance, the overall Commercial Vehicles sales increased from 568,559 to 716,566 units. Sales of Medium and Heavy Commercial Vehicles increased from 160,688 to 240,577 units and Light Commercial Vehicles increased from 407,871 to 475,989 units in April 2021 to March 2022 compared to the previous year
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Automotive Body Control Module Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
APAC is anticipated to grow at a substantial CAGR during the forecast period due to the rising demand for vehicles in these countries, Asia Pacific is witnessing high economic growth. Due to its extensive production of passenger cars, higher rate of adoption of cutting-edge technologies than other countries, and growing purchasing power of customers, the Asia Pacific region is home to the greatest market for body control module. For instance, according to Society of Indian Automobile Manufacturers, around 3,650,698 passenger vehicles were manufactured in 2021-22
The major players targeting the market include
- Continental AG
- Aptiv
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Denso Corporation
- HELLA GmbH & Co. KGaA
- Mouser Electronics, Inc.
- Infineon Technologies AG
- Harman International
- Tata Elxsi
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive Body Control Module market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the automotive body control module market?
- Which factors are influencing the automotive body control module market over the forecast period?
- What are the global challenges, threats, and risks in the automotive body control module market?
- Which factors are propelling and restraining the automotive body control module market?
- What are the demanding global regions of the automotive body control module market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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Automotive Body Control Module Market Report Coverage
|
Report Attribute |
Details |
|
Base year |
2021 |
|
Forecast period |
2022-2028 |
|
Growth momentum |
Accelerate at a CAGR of over 3% |
|
Market size 2021 |
USD 2.4 billion |
|
Regional analysis |
North America, Europe, APAC, Rest of World |
|
Major contributing region |
APAC to Dominate the Global Automotive Body Control Module Market |
|
Key countries covered |
United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, and Australia |
|
Companies profiled |
Continental AG, Aptiv, Mitsubishi Electric Corporation, Robert Bosch GmbH, Denso Corporation, HELLA GmbH & Co. KGaA, Mouser Electronics, Inc, Infineon Technologies AG, Harman International, and Tata Elxsi |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
|
Segments Covered |
By Type; By Vehicle Type; By Application; By Region/Country |
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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