Automotive Electronic Throttle Market Forecast to Reach $134.65 Million by 2025


Posted January 21, 2021 by Blessy_Joy

The Global market for automotive electronic throttle is forecast to reach $134.65 million by 2025, growing at a CAGR of 4.84% from 2020 to 2025.

 
Automotive Electronic Throttle Overview
The Global market for automotive electronic throttle is forecast to reach $134.65 million by 2025, growing at a CAGR of 4.84% from 2020 to 2025. The market growth is attributed to the benefits of the automotive electronic throttle including reduced weight, better control, better fuel economy, environment friendly, extra safety features and others. Moreover, technological advancements accompanied by integration of electronics equipment such as automatic high-beam control, backup cameras, GPS vehicle tracking, vehicle-to-vehicle communication, cars-as-a-service in automotive vertical for better customer experience is further enhancing the market growth.

Key Takeaways
Environmental concerns and government stringent rules and regulations related to automobiles is provoking the automotive manufacturers for development of electric vehicles with advanced features thereby deploying  electronic throttle and thus enhancing the market growth for automotive electronic throttle.
Requirement of less maintenance accompanied with fewer moving parts makes the electronic throttle preferable over mechanical throttle and consequently enhance the market growth.
APAC region is expected to dominate the global automotive electronic throttle market during the forecast period 2020-2025 due to the growing demand of passenger and commercial vehicles owing to increasing gross domestic product (GDP), per capita income, and purchasing power a customer thereby leveraging a positive impact on automotive electronic throttle market.

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Geography - Segment Analysis
North America held the highest market share of the automotive electronic throttle market in 2019. This is due to the high demand for electric passenger vehicles and commercial vehicles in this region for reducing vehicle emissions thereby contributing towards the safeguard of the environment. Moreover automotive electronic throttle market in APAC is expected to grow at highest rate during the forecast period owing to the various factors such as growing industrialization and substantial investments in infrastructure that boosts the demand of passenger and commercial vehicles thereby enhancing the growth of automotive electronic throttle market. Furthermore, increasing adoption of vehicles driven by environmentally friendly fuel alternatives and increasing investment in research and development of vehicle electrification-related systems tends to foster the market growth. In January 2020, an investment of US $110 million was made by Hyundai Motor Company and Kia Motors Corporation in a partnership with Arrival limited for the development of electric commercial vehicles. Thus such investments and partnerships enhance the market growth. Additionally, strict government regulations on carbon emissions and initiatives for the usage of electrical systems would have a direct effect on business development in the years ahead.

Drivers – Automotive electronic throttle market 
 Environment Concerns
Automotive electronic throttle is the innovation of automotive industry for adding benefits to the environment. With the automotive electronic throttle carbon emissions gets reduced thereby protecting the environment. In August 2019, 10 e-Cars were launched as a pilot project for use of Army officials in New Delhi to ensure economy, efficiency and minimal emissions.
Safety features
Automotive electronic throttle operates in aggregation with several electronic vehicle safety systems. With the deployment of this technology, safety features such as blind spot warning, adaptive cruise control, electronic stability control and lane assist are made possible. These features were lacked by a mechanical throttle-controlled engine.

Market Landscape
Automotive electronic throttle driver market is expected to be dominated by major companies such as Magneti Marelli S. p. A., Delphi Automotive PLC, Robert Bosch GmbH, Continental AG, Denso Corporation, Jenvey Dynamics Limited, Hitachi Automotive Systems Ltd., Pacco Industrial Corporation and among others.

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Issued By Blessy
Business Address IndustryARC
Country India
Categories Business
Tags automotive electronic throttle market , automotive electronic throttle market growth , automotive electronic throttle market share , automotive electronic throttle market size
Last Updated January 21, 2021