Europe Automotive Electronics Market Size is Expected to Reach $63.84 Billion by 2029

According to the different impacts on the driving performance of automobiles, automotive electronic products can be classified into two categories: one is the automotive body electronic control device, which needs to be used in conjunction with the mechanical system on the vehicle, known as the "electromechanical combination" of automotive electronic devices. They include an engine control system, chassis control system, and body electronic control system (body electronic ECU), such as electronic fuel injection system, brake anti-lock control, anti-skid control, traction control, electronically controlled suspension, electronically controlled automatic transmission, electronic power steering, etc. Another type is automotive-mounted electronic devices, which are electronic devices that can be used independently in the automotive environment and are not directly related to the performance of the car itself. They include car information systems, navigation systems, car audio and television entertainment systems, in-car communication systems, internet devices, etc.
Overview of Market Development and Analysis of Segmented Markets
According to our research data, the size of the European automotive electronics market is expected to reach $55.61 billion in 2024, an increase of 2.74% compared to 2023, among which, the estimated market size of automotive body electronic control devices is $36.54 billion, and the market share is expected to reach 65.71%, occupying a dominant position in the market; The market size of automotive-mounted electronic devices is expected to be $19.07 billion, accounting for 34.29%.
The main function of automotive electronics is to improve the safety, comfort, economy, and entertainment of the car, and its most prominent feature is to promote the systematization of control. Automotive electronicization is considered a revolution in the development process of automotive technology, an important indicator of the level of modern automobiles, and the most important technical measure for developing new vehicle models and improving automotive performance. In the future, with the continuous development of the European automotive industry, automotive electronics will gain a wider market. It is expected that the total size of the European automotive electronics market will increase to $63.84 billion by 2029.

Europe Automotive Electronics Market Size and Segment Market Share Forecast 

Europe Automotive Electronics Market Size and Segment Market Share Forecast

Source: www.globalmarketmonitor.com
Analysis of Market Competition Pattern
From the perspective of market competition, the concentration of the European automotive electronics industry is moderate. Data shows that in 2023, the top 3 companies in the industry achieved a total revenue of $21.73 billion in automotive electronics, with a total revenue share of 40.13%, The total revenue of the top 6 enterprises was $29.43 billion, with a total revenue share of 54.36%. The top 3 companies were Robert Bosch GmbH Continental AG and ZF Friedrichshafen AG. In 2023, these three companies accounted for 16.08%, 13.63%, and 9.71% of their automotive electronics revenue in the European market in 2023, respectively.

Europe Automotive Electronics Revenue and Share of Main Companies in 2023

Companies

Revenue (Billion USD)

Share

Robert Bosch GmbH

9.09

16.80%

Continental AG

7.38

13.63%

ZF Friedrichshafen AG

5.26

9.71%

Top3 Companies

21.73

40.13%

Top6 Companies

29.43

54.36%

Source: www.globalmarketmonitor.com

For more industry information, please refer to our latest released "2023 Global Automotive Electronics Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".

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