The automotive TCU market is predicted to be worth US$ 15,157.9 million in 2023 and rise to US$ 22,437.4 million by 2033. Demand initially expanded at a market CAGR of 3.2% between 2018 and 2022.
Technological improvements significantly drive the demand for automotive TCUs. Incorporating cutting-edge technologies into TCUs and ongoing innovation in gearbox systems increase vehicle performance, fuel efficiency, and user experience.
Automakers and TCU producers are making significant investments in research and development to stay on the bleeding edge of technology and provide consumers with cutting-edge solutions.
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Using machine learning and artificial intelligence technology in TCUs creates new possibilities. Algorithms based on AI and ML assess data from various vehicle sensors and instantly improve the efficiency of the gearbox and gear changes. Implementing AI and ML in automotive TCUs opens up new possibilities for the market players.
Key Takeaways
- By 2033, the automotive TCU market in the United Kingdom is likely to expand, with a CAGR of 2.9%.
- In 2023, the United States is expected to have a market share of 15.2% in the automotive TCU sector.
- The automotive TCU market was significantly expanding, with a size of US$ 14,546.9 million in 2022.
- By 2033, the automotive TCU market in China is likely to expand, with a CAGR of 4.5%.
- In 2023, Germany is expected to expand significantly in the automotive TCU business, with an expected share of 7.1%.
- By 2033, India is projected to expand significantly in the automotive TCU market, with a share of 5.1%.
- In 2023, Australia is likely to develop significantly in the automotive TCU business, with an expected share of 0.3%.
- Japan’s automotive TCU industry share is projected to develop significantly, with a 7.9% share in 2022.
- In 2023, the passenger car segment is likely to expand in the market with a significant share of 77.9% and is expected to hold a top spot in the market regarding vehicle type.
- Based on the application, the automotive transmission segment is likely to dominate the industry in 2023, with a share of 73.9%.
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Competitors Winning Strategies
The automotive TCU industry is also significantly influenced by partnerships and collaborations between industry members. Using their combined knowledge, automakers and TCU manufacturers work together.
Partnerships between industry players seek to jointly create cutting-edge solutions, exchange information, and promote market expansion. Strategic partnerships aid in speeding up technology progress, extending market penetration, and meeting changing customer requirements.
Key Companies Profiled
- Robert Bosch GmbH
- Continental AG
- Aptiv PLC
- LG Electronics Inc.
- Denso Corporation
- Harman International Industries Inc.
- Visteon Corporation
- Valeo SA
- Panasonic Corporation
- Magneti Marelli S.p.A
Recent Developments:
- Phillips Connect made many announcements in March 2022 to assist fleets and drivers in utilizing many innovative trailers. These announcements included new intelligent nose box gateways, backup cameras, and a partnership with Utilities to introduce the Utility Connect trailer telematics solution.
- A 5G compatible TCU was launched by Harman International in April 2019 as part of a new strategy to update the cutting-edge technology inside of vehicles made by current automakers. With 5G network infrastructure, 5G TCU aids in delivering scalable mobile network access for connected automobiles. This TCU’s foundational technology is based on a platform previously made available for mobile devices.
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Segmentation of the Global Automotive TCU Market
Application:
- AT (Automatic Transmission)
- CVT (Continuous Variable Transmission)
- DCT (Dual Clutch Transmission)
Vehicle Type:
- Passenger Car
- LCV (Light Commercial Vehicle)
- HCV (Heavy Commercial Vehicle)
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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.
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.
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