The global automotive TCU market is poised to grow at 5.1% CAGR from 2023 to 2033, with an overall valuation expected to reach USD 13.66 billion in 2023. Future Market Insights (FMI) forecasts market to surpass USD 22.47 billion by the end of 2033.
| Attribute | Details |
|---|---|
| Base Year (2022) Automotive TCU Market Value | USD 13 billion |
| Base Year (2023) Automotive TCU Market Value | USD 13.66 billion |
| Projected Year (2033) Automotive TCU Market Value | USD 22.47 billion |
| CAGR% (2023 to 2033) | 5.1% |
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The automotive TCU market went through a negative phase amid the spread of the COVID-19 crisis. The sales level in this market witnessed a downturn creating potential losses for global manufacturers. As the condition is normalizing in 2021 due to strong and stringent government efforts, the top manufacturers are trying to recuperate the losses incurred through product diversifications and innovations.
In terms of growth, the North American region is projected to dominate the market during the forecast period owing to the government’s initiatives to develop the technological industry. The Asia Pacific and European regions are expected to be lucrative owing to the emergence of new players.
All the other key regions are driving the market growth and opening various opportunities for manufacturers to retain their position throughout the course of the forecast period.
The United States Remains a Key Market for DCT Adoption
North America is expected to witness the maximum trend of DCT technology in the automotive TCU market. Magna, one of the prominent manufacturers of TCU in the automotive TCU market in North America, has signed a joined venture with Dongfeng GETRAG Transmission Co. Ltd., particularly for the production of dual clutch transmission systems and to meet the growing demand from consumers in the market.
North America’s AT market is forecasted to stay the strongest with a market value of just under USD 6 billion by the end of 2033. Yet the DCT market in the region is expected to witness growth at a CAGR of over 4% in terms of value.
DCT and CVT Preference Growing Among End-users
While the AT application segment is expected to lead the global automotive TCU market with the maximum market share currently, the research report gives a surprising outcome for the coming years as the DCT and CVT segments are expected to take over the market share of the AT segment during the forecast period.
DCT or Dual Clutch Technology provides two manual transmissions, providing a different torque path for each, whereas CVT is Continuous Variable Transmission technology. There are various benefits of DCT that are contributing to its popularity such as emission control, fuel efficiency, and enhanced performance.
Currently, DCT is the most expensive technology among other technologies but in terms of riding quality, it is considered to be the best. DCT and CVT are considered the best technologies in high performance vehicles and also the technologies of the future. Although DCT technology was introduced in the 1980s, it acquired recognition in the last 10 years as many automotive OEMs have started investing in this technology to increase fuel efficiency and reduce CO2 emissions.
According to the market forecast presented in this report, the DCT segment will experience exceptional growth in the coming years due to factors such as an increase in the production of high speed DCTs for passenger cars and commercial vehicles and also small size passenger cars.
Demand for AT Accounts for Over 50% Revenue Share
The global automotive TCU market deploys various technologies such as Manual, Automatic, Dual Clutch, and CVT, which are the main types of transmission technologies. The normal vehicles nowadays have manual gear changing technology that does not include any kind of automation in the transmission. With the rise in inclination towards automation and technological advancements in the global automotive market, there is remarkable growth in the current AT market.
The Automatic Transmission (AT) segment is expected to lead the global automotive TCU market with the maximum market share during the forecast period. The segment is anticipated to grow at a steady CAGR of around 5.6% in terms of value during the forecast period. Many factors are responsible for the lucrative growth of the AT application segment – one of the top factors being an increasing demand from people for luxury vehicles. The current global market for luxury vehicles includes mostly automatic transmission vehicles.
Leading corporations including Bosch, Continental, Delphi Automotive, Denso Corporation, General Motors Company, Hitachi Automotive System, Magna International, Magneti Marelli SpA, Mitsubishi Electric Corporation, ZF Friedrichshafen, and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings.
They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements, etc. to lead the global automotive TCU market with largest market share.
Hitachi Astemo, Ltd. ("Hitachi Astemo"), Trend Micro Inc. ("Trend Micro"), and its subsidiary VicOne Inc. ("VicOne") broadened their relationship in January 2023 to develop safety measures for connected cars, with the goal of commercialisation by 2025. The partnership will integrate Hitachi Astemo's Edge-SIEM*3 automotive security technology with Trend Micro and VicOne's xCarbon*4 embedded security solution.
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered | Application, Vehicle Type, Region |
| 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 |
| Customization & Pricing | Available upon Request |
The market is valued at USD 13.66 billion in 2023.
Bosch, Continental, and Delphi Automotive are key market players.
The automotive industry is the key consumer of the automotive TCU market.
The market is estimated to reach USD 22.47 billion by 2033.
The market is forecast to register a CAGR of 5.1% through 2033.
| Estimated Value (2024) | USD 18,217.7 million |
|---|---|
| Projected Size (2034) | USD 45,561.7 million |
| Value-based CAGR (2024 to 2034) | 9.6% |
| Estimated Market Size (2024E) | USD 15.8 billion |
|---|---|
| Projected Market Value (2034F) | USD 45.69 billion |
| Value-based CAGR (2024 to 2034) | 11.3% |
| Base Year Market Value (2023) | USD 93.9 billion |
|---|---|
| Projected Year Market Value (2033) | USD 414.5 billion |
| CAGR (2023 to 2033) | 16% |
| Market CAGR (2023 to 2033) | 18.7% |
|---|---|
| Market Size (2023) | USD 2,513.9 million |
| Expected Market Size (2033) | USD 13,998.3 million |
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