Market Size of Automotive Engine Management System Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 66.20 Billion |
| Market Size (2029) | USD 84.80 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Engine Management System Market Analysis
The Automotive Engine Management System Market size is estimated at USD 66.20 billion in 2024, and is expected to reach USD 84.80 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
Over the long term, the growing consumer trend toward fuel-efficient vehicles has encouraged manufacturers to develop advanced components that control engine operation. The enactment of stringent emission norms is likely to increase significantly due to the rise in greenhouse gas levels globally.
With the growth in sales and production of passenger cars, the global automotive sector has been witnessing exponential growth year on year. For instance, the sales of passenger cars in India increased from 14,67,039 to 17,47,376, utility vehicles from 14,89,219 to 20,03,718, and vans from 1,13,265 to 1,39,020 units in FY 2022-23, compared to the previous year.
With the growth in demand for vehicles, engine management companies are adopting strategic moves such as product launches, capacity expansion, and mergers to cater to the high demand.
- In July 2023, Valeo expanded its ultrasonic sensor manufacturing capacity to 7 million units at the Sanand plant. The first production line at Sanand was started in November 2021. With this additional line, the total production capacity increased from 3 million to 7 million units annually.
- In January 2023, Sensata showcased its broad range of mission-critical sensors and electrical protection solutions for automotive and heavy vehicle off-road (HVOR) applications.
North America is the fastest automotive engine management systems market in the world. However, due to the more significant automotive sales, especially in China and India, the automotive engine management systems in Asia-Pacific hold the major market share. Customers in India and China are becoming more aware of enhancing their vehicles' performance, which is expected to boost the automotive engine management system market.
