The global diesel engine management system demand is anticipated to increase at a CAGR of around 5% to 7% CAGR during the forecast period between 2022 and 2032. Growth in the market is driven by rising production and sales of diesel vehicles along with growing need for improving engine performance.
Diesel engine management system has become an important part of vehicles, as it is responsible for adjusting the ignition timing and controlling the amount of diesel being injected into the engine. It is a type of electronic control unit that controls the running of an engine and thus plays a crucial role in ensuring optimal engine performance.
Rising need for improving the performance of automotives coupled with rising sales of diesel vehicles is providing a major impetus to the growth of diesel engine management system market and the trend is likely to prevail during the forecast period.
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Diesel engine management system consist of various electrical and electronic components such as engine control unit, relays fuel pump, sensors etc., that work together for the proper functioning of engines. They provide vital data that is essential for governing various engine functions effectively. For instance, sensors provide information about the operating condition of the engine while the actuator regulates its operations.
Rising pressure on vehicle manufacturers to produce vehicles with better fuel efficiency and low emission levels will continue to boost the sales of diesel engine management systems during the forecast period.
Which are Some Prominent Drivers Spearheading Diesel Engine Management System Market Growth?
The robust expansion of diesel engine management system market is attributable to the rising production and sales of diesel automotives, growing need for improving engine performance, and implementation of stringent emission norms and fuel efficiency regulations across the world.
In recent years, there has been a substantial increase in the levels of greenhouse gases and air pollution across the world due to vehicle emissions. This has prompted regulatory bodies to introduce strict regulations, which in turn is acting as a catalyst fueling the adoption of diesel engine management systems.
Diesel engine management systems monitor and ensures the proper functioning of the diesel engines by controlling fuel injection, so that proper combustion takes place. This in turn significantly reduces the amount of fuel intake, decreases emission levels, and provide optimal performance. They have become ideal solutions for improving the performance of automotives and controlling emissions.
The rapid expansion of automotive industry coupled with increasing demand for fuel efficient technologies and vehicles is anticipated to generate lucrative sales prospects for diesel engine management systems during the forecast period.
Similarly, increasing instances of diesel engine management system replacement in vehicles for extending their life span will further expand the size of diesel engine management system market in the future.
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What are the Challenges Faced by the Diesel Engine Management System Industry?
Despite a positive growth outlook, the global diesel engine management system market is facing various challenges that are likely to restrain its growth during the assessment period. Some of the major restraining factors are the high cost of diesel engine management system and rising adoption of electric automotives across the world.
What is the Demand Outlook for the Asia Pacific Market?
As per FMI, the Asia Pacific market is slated to grow rapidly during the forecast period, owing to the increasing production and sales of passenger vehicles, growing consumer awareness, and availability of engine management system components at lower prices. Moreover, presence of stringent emission regulations for diesel engines is positively impacting the growth of diesel engine management system market in the region.
Demand for diesel engine management systems is particularly high across developing nations like China and India due to booming automotive industry and growing demand for green and fuel-efficient vehicles.
China is the leading producer of vehicles in the world. The country is home to some of the major automotive giants who are increasingly adopting diesel engine management systems in their vehicles to improve their performance. This will continue to boost the market growth during the forthcoming years.
How is Europe Contributing to Growth of the Diesel Engine Management System Market?
According to Future Market Insights, Europe will continue to remain the leading market for diesel engine management systems, accounting for the largest revenue share in 2022. Growth in the market is driven by increasing sales of diesel vehicles, presence of leading market players, presence of stringent emission regulations, and rising focus of automotive manufacturers for developing better fuel-efficient vehicles,
Countries such as Poland, Belgium, U.K and Czech Republic are all generating high demand for diesel engine management systems, as these regions are witnessing an uptick in diesel vehicle adoption.
Market Competition
Some of the key participants present in the global diesel engine management system market include Denso Corporation, Delphi Automotive plc, Hitachi Ltd, Robert Bosch GmbH, Continental AG, Hella KGaA Hueck & Co., Sensata Technologies, Infineon Technologies AG, and Sanken Electric Co., Ltd, among others.
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Key Segments Profiled in the Diesel Engine Management System Industry Survey
By Vehicle Type:
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Passenger Vehicles
By Component:
- Engine Control Units
- Fuel Pumps
- Engine Sensors
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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The post Diesel Engine Management System Market is set to flourish at a CAGR of ~ 6% during the forecast period of 2022-32. Explore deep data by Future Market Insights, Inc. appeared first on Future Market Insights.
