According to Future Market Insights, demand for vehicle control unit (VCU) market size 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.
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.
Some of the Major Players in the Vehicle Control Unit (VCU) Market
- 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)
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.
Vehicle Control Unit (VCU) Market Segmentation by Category
By Vehicle Type:
- Commercial Vehicle
- Passenger Car
By Component:
- Hardware
- Software
By Propulsion Type:
- BEV
- HEV
- PHEV
By Communication Technology:
- Controller Area Network
- Local Interconnect Network
- Flexray
- Ethernet
By Function:
- Predictive Technology
- Autonomous Driving/ADAS
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI’s Extensive Ongoing Coverage on Automotive Domain
Automotive Wiring Harness Market Demand
Electric Vehicle Battery Market Growth
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube