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

BriefingWire.com, 1/13/2021 - The Global market automotive electronic throttle market 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.

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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