Global Automotive Electronic Under Hood Market Overview
As per MRFR analysis, the Automotive Electronic Under Hood Market Size was estimated at 45.88 (USD Billion) in 2022. The Automotive Electronic Under Hood Market Industry is expected to grow from 48.94(USD Billion) in 2023 to 87.56 (USD Billion) by 2032. The Automotive Electronic Under Hood Market CAGR (growth rate) is expected to be around 6.67% during the forecast period (2024 - 2032).
Key Automotive Electronic Under Hood Market Trends Highlighted
The increasing demand for advanced safety features, enhanced fuel efficiency, and reduced emissions is driving the growth of the automotive electronic under-hood market. Electronic components such as sensors, actuators, and engine control units are becoming increasingly sophisticated and interconnected, offering greater control and efficiency in vehicle operation.The adoption of electric and hybrid vehicles is creating new opportunities for the market, as these vehicles require more advanced electronic systems for power management, battery optimization, and emission control.
Additionally, the trend towards autonomous driving is driving the need for reliable and high-performance under-hood electronics to support advanced driver assistance systems and autonomous vehicle functions. Other key market trends include miniaturization and integration of electronic components, increased use of artificial intelligence and machine learning, and the growing importance of cybersecurity measures in automotive systems. These trends are shaping the market and creating new opportunities for innovation and technological advancements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Electronic Under Hood Market Drivers
Advancements in Autonomous Driving Systems
The increasing adoption of autonomous driving technologies is driving the growth of the Automotive Electronic Under Hood Market Industry. As vehicles become more autonomous, they require more sophisticated electronic systems to control and monitor various functions, including engine management, transmission control, and braking. These systems are essential for ensuring the safety and reliability of autonomous vehicles. The growing demand for autonomous vehicles is expected to drive the demand for automotive electronic underhood components in the coming years.
Rising Demand for Electric Vehicles
Electric Vehicles Drive Market Growth Another factor that is expected to fuel the growth of the Automotive Electronic Under Hood Market Industry is the increasing popularity of electric vehicles. It should be noted that electric vehicles depend on a separate set of electronic components. For instance, while gasoline-powered vehicles require spark plugs, today’s electric vehicles are enforced with power inverters, battery management systems, as well as electric motors. The booming electric vehicle market will thus also result in providing opportunities to enhance the growth of the automotive electronic under hood market.
Increasing Complexity of Vehicle Systems
The increasing complexity of vehicle systems is also driving the demand for automotive electronic underhood components. Modern vehicles are equipped with a wide range of electronic systems, such as infotainment systems, navigation systems, and safety systems. These systems require a high level of integration and coordination, which is made possible by advanced electronic components.
Automotive Electronic Under Hood Market Segment Insights:
Automotive Electronic Under Hood Market Vehicle Type Insights
The Vehicle Type segment of the Automotive Electronic Under Hood Market is expected to witness significant growth in the coming years. The market is segmented into three primary vehicle types: Passenger Cars, Commercial Vehicles, and Two Wheelers. Passenger Cars hold the largest market share, driven by rising demand for advanced electronic features in personal vehicles. In 2023, the Passenger Cars segment was valued at approximately 24.56 billion USD and is projected to reach 39.87 billion USD by 2032, exhibiting a CAGR of 6.1%.
Commercial Vehicles, including trucks, buses, and vans, are also experiencing growing demand for electronic systems to enhance efficiency and safety. This segment is estimated to reach 18.76 billion USD by 2032 with a CAGR of 6.8%. Two-wheelers, such as motorcycles and scooters, are gaining popularity due to their affordability and convenience. The Two Wheelers segment is anticipated to grow at a CAGR of 7.2%, reaching 7.93 billion USD by 2032. Overall, the Vehicle Type segment of the Automotive Electronic Under Hood Market is poised for robust growth, driven by the increasing adoption of electronic systems across all vehicle types.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Electronic Under Hood Market Powertrain Architecture Insights
The Automotive Electronic Under Hood Market is divided by Powertrain Architecture into Conventional Internal Combustion Engine Vehicles, Hybrid Vehicles, and Electric Vehicles. Conventional Internal Combustion Engine Vehicles will hold the largest market share in 2023, accounting for over 80% of the market in every region. However, in the future years, the Automotive Electronic Under Hood Market for Hybrid Vehicles and Electric Vehicles will increase at a higher rate than that of Conventional Internal Combustion Engine Vehicles.
By 2032, the Automotive Electronic Under Hood Market for Hybrid Vehicles will be over 18%, while Electric Vehicles will be over 12%. This is due to government regulations providing the use of electric and hybrid vehicles, technological advances, and demand for cost-effective vehicles that are fuel-efficient.
Automotive Electronic Under Hood Market Function Insights
Function Segment Overview and Insights The Automotive Electronic Under Hood Market is segmented by Function into Engine Control, Transmission Control, Chassis Control, ADAS and Safety Systems, and Connectivity and Telematics. Engine Control accounted for the largest revenue share in 2023, and it is projected to continue to dominate the market through 2032. This growth is primarily attributed to the increasing adoption of advanced engine management systems, such as electronic fuel injection and variable valve timing, which optimize engine performance and reduce emissions.Transmission Control is another significant segment, driven by the growing demand for automatic and semi-automatic transmissions, which provide improved driving comfort and fuel efficiency.
Chassis Control systems, including electronic stability control and traction control, are gaining traction due to their role in enhancing vehicle stability and safety. ADAS and Safety Systems, such as adaptive cruise control and lane departure warning, are expected to witness substantial growth due to increasing consumer demand for advanced safety features. Connectivity and Telematics systems offer remote vehicle diagnostics, navigation, and entertainment features, and their popularity is rising with the integration of smartphones and the Internet of Things (IoT) into vehicles.
Automotive Electronic Under Hood Market Application Insights
Under Hood Electronics is projected to account for the largest market share with a revenue of USD 31.83 billion in 2024, owing to the increasing adoption of advanced driver assistance systems (ADAS) and autonomous driving technologies. Under Seat Electronics is expected to witness the highest CAGR of 7.2% from 2024 to 2032, driven by the growing popularity of electric vehicles and the integration of infotainment systems into vehicles. Power Electronics is anticipated to hold a significant market share, contributing to the overall growth of the Automotive Electronic Under Hood Market.
Automotive Electronic Under Hood Market Technology Insights
The Technology segment in the Automotive Electronic Under Hood Market is anticipated to exhibit substantial growth over the forecast period. Microcontrollers, microprocessors, power modules, sensors, and actuators are key components driving the segment's expansion. Microcontrollers and microprocessors play a crucial role in controlling and managing various electronic systems within the vehicle. The increasing adoption of advanced driver assistance systems (ADAS) and autonomous driving technologies is fueling the demand for these components.
Power modules ensure efficient power distribution and management, while sensors provide real-time data on vehicle performance and environmental conditions. Actuators enable precise control of vehicle systems, enhancing safety and performance. The growing emphasis on vehicle electrification and the integration of electronic systems are expected to further drive the growth of the Technology segment in the Automotive Electronic Under Hood Market, with a projected revenue of USD 28.46 billion by 2024.
Automotive Electronic Under Hood Market Regional Insights
The regional segmentation of the Automotive Electronic Under Hood Market market offers insights into the market's geographic distribution and performance. North America is anticipated to dominate the market with a revenue of USD 19.45 billion in 2024, owing to the presence of major automotive manufacturers and a high adoption rate of advanced technologies. Europe follows closely with a revenue of USD 14.23 billion in 2024, driven by stringent emission regulations and a growing focus on fuel efficiency. APAC is projected to witness significant growth due to the rising production and sales of vehicles in the region, with a revenue of USD 9.87 billion in 2024. South America and MEA are expected to hold smaller market shares due to limited automotive production and infrastructure.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Electronic Under Hood Market Key Players And Competitive Insights:
Major players in the Automotive Electronic Under Hood Market industry are continuously investing in research and development to enhance their product offerings and gain a competitive edge. Leading Automotive Electronic Under Hood Market players are focusing on developing advanced electronic systems that meet the evolving demands of the automotive industry. The Automotive Electronic Under Hood Market development is driven by the increasing adoption of electric and hybrid vehicles, which require sophisticated electronic systems for powertrain control, battery management, and other functions. The Automotive Electronic Under Hood Market Competitive Landscape is fragmented, with a mix of established players and emerging entrants. Key players are adopting strategies such as mergers and acquisitions, partnerships, and joint ventures to expand their market presence and strengthen their competitive position.
Continental AG is a leading supplier of automotive components and systems. The company's Automotive Electronic Under Hood Market business offers a wide range of products, including engine control units, transmission control units, and body control modules. Continental AG is known for its strong focus on research and development, and its products are highly regarded for their quality and reliability. The company has a presence, with manufacturing facilities and sales offices in major automotive markets. Continental AG is a major player in the Automotive Electronic Under Hood Market and is well-positioned to benefit from the growing demand for electronic systems in the automotive industry.
Denso Corporation is a leading Japanese automotive supplier. The company's Automotive Electronic Under Hood Market business offers a wide range of products, including engine control units, fuel injection systems, and air conditioning systems. Denso Corporation is known for its expertise in electronics and its commitment to quality. The company has a strong presence in the Asian market and is expanding its presence in other regions. Denso Corporation is a major player in the Automotive Electronic Under Hood Market and is well-positioned to benefit from the growing demand for electronic systems in the automotive industry.
Key Companies in the Automotive Electronic Under Hood Market Include:
- Visteon Corporation
- Hyundai Mobis
- ZF
- Aptiv
- Marelli
- Continental AG
- Hella GmbH KGaA
- Robert Bosch GmbH
- Denso Corporation
- Delphi Technologies
Automotive Electronic Under Hood Market Industry Developments
The Automotive Electronic Under Hood Market is anticipated to witness significant growth over the forecast period, owing to rising demand for advanced driver-assistance systems (ADAS) and fuel-efficient vehicles. In 2023, the market was valued at USD 48.94 billion and is projected to reach USD 87.56 billion by 2032, exhibiting a CAGR of 6.67%.
Recent developments in the market include the launch of new products and technologies by key players. For instance, in 2023, Continental AG introduced a new range of electronic control units (ECUs) designed to improve engine performance and fuel efficiency. Additionally, the increasing adoption of electric vehicles is expected to drive demand for automotive electronic under hood components, such as power modules and battery management systems.
Major players in the market include Bosch, Continental AG, Denso Corporation, Delphi Automotive, and Hyundai Mobis. These companies are focusing on strategic partnerships and acquisitions to expand their market presence and enhance their product offerings.
Automotive Electronic Under Hood Market Segmentation Insights
-
Automotive Electronic Under Hood Market Vehicle Type Outlook
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
-
Automotive Electronic Under Hood Market Powertrain Architecture Outlook
- Conventional ICE Vehicles
- Hybrid Vehicles
- Electric Vehicles
-
Automotive Electronic Under Hood Market Function Outlook
- Engine Control
- Transmission Control
- Chassis Control
- ADAS and Safety Systems
- Connectivity and Telematics
-
Automotive Electronic Under Hood Market Application Outlook
- Under Hood Electronics
- Under Seat Electronics
- Power Electronics
-
Automotive Electronic Under Hood Market Technology Outlook
- Microcontrollers
- Microprocessors
- Power Modules
- Sensors
- Actuators
-
Automotive Electronic Under Hood Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
45.88(USD Billion) |
| Market Size 2023 |
48.94(USD Billion) |
| Market Size 2032 |
87.56(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.67% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Visteon Corporation, Hyundai Mobis, ZF, Aptiv, Marelli, Continental AG, Hella GmbH Co. KGaA, Robert Bosch GmbH, Denso Corporation, Delphi Technologies |
| Segments Covered |
Vehicle Type, Powertrain Architecture, Function, Application, Technology, Regional |
| Key Market Opportunities |
1 Increasing electrification of vehicles2 Growing demand for fuel efficiency3 Advancements in sensor technology4 Need for improved vehicle safety5 Government regulations on emissions |
| Key Market Dynamics |
Government Regulations Electrification Component Miniaturization Connectivity Autonomous Driving |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Electronic Under Hood Market is expected to reach USD 48.94 Billion in 2023 and is projected to grow to USD 87.56 Billion by 2032, exhibiting a CAGR of 6.67% during the forecast period.
North America is anticipated to lead the Automotive Electronic Under Hood Market, capturing the largest market share due to the increasing production of vehicles and growing demand for advanced automotive electronics in the region.
Automotive Electronic Under Hood components find applications in various vehicle systems, including engine management, transmission control, braking systems, and other electronic systems.
Leading players in the Automotive Electronic Under Hood Market include Bosch, Continental, Denso, Delphi, and Aptiv.
Rising demand for fuel-efficient and environmentally friendly vehicles, increasing adoption of autonomous driving technologies, and government regulations promoting vehicle safety are driving the growth of the Automotive Electronic Under Hood Market.
The Automotive Electronic Under Hood Market is projected to grow at a CAGR of 6.67% during the forecast period from 2024 to 2032.
The Sensors segment is estimated to account for the largest market share in the Automotive Electronic Under Hood Market owing to the increasing use of sensors for monitoring and controlling various vehicle systems.
The electrification of vehicles is expected to drive the demand for Automotive Electronic Under Hood components due to the increased complexity of electrical systems in electric and hybrid vehicles.
Challenges in the Automotive Electronic Under Hood Market include stringent safety regulations, semiconductor supply chain disruptions, and the need for continuous innovation to meet evolving vehicle technologies.
