Body Control Module Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, June 17, 2024 /EINPresswire.com/ -- The global body control module market is projected to grow from $32.4 billion in 2023 to $33.56 billion in 2024, at a CAGR of 3.6%. The market size is anticipated to reach $38 billion by 2028 at a compound annual growth rate (CAGR) of 3.2%, driven by the proliferation of electric vehicles and increasing emphasis on cybersecurity, among other factors.

Increase in Demand for Electric Vehicles Drives Market Growth
The rise in demand for electric vehicles is significantly contributing to the growth of the body control module market. Electric vehicles (EVs), which utilize electric motors and batteries, rely heavily on body control modules to manage energy and maximize travel distance before battery recharge. For instance, in September 2022, the International Energy Agency reported that EV sales doubled to 6.6 million in 2021, bringing the total number of EVs on the road to 16.5 million. This surge in EV adoption is expected to drive the demand for body control modules.

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Body Control Module Market Key Players and Market Trends
Major companies in the body control module market include Robert Bosch GmbH, ZF Friedrichshafen AG, Denso Corporation, Continental AG, and Mitsubishi Electric Corporation, among others. These companies are focusing on advanced products like ADAS (advanced driver-assistance system) platforms to drive market revenues. For example, in January 2021, Aptiv PLC launched a next-generation Level 1-3 capable ADAS platform, enhancing sensor performance and offering sophisticated parking functions.

Body Control Module Market Segments:
• Type: Control Area Network (CAN) Bus, Local Interconnect Network (LIN) Bus
• Component: Hardware, Software
• Vehicle Type: Passenger Car, Electric Vehicle, Commercial Vehicle
• Power Distribution Components: Relays, Fuses
• Application: Interior, Exterior

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the body control module market in 2023 and is expected to continue its dominance. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, providing detailed insights into regional dynamics, market trends, and growth opportunities.

Access the complete report for an in-depth analysis of the global body control module market:
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Body Control Module Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Body Control Module Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on body control module market size, body control module market drivers and trends, body control module market major players, competitors' revenues, market positioning, and market growth across geographies. The body control module market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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