China Automotive Microcontroller Market Expected with Huge Growth and Growth Prediction 2021 to 2026

The Market Insights Reports has added a new statistical data to its repository titled as, China Automotive Microcontroller Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.

The Chinese automotive microcontroller market is expected to register a CAGR of 7% during the forecast period, 2021-2026.

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Top Key Players in the China Automotive Microcontroller Market are NXP Semiconductors NV, Microchip Technology Inc., Renesas Electronics Corporation, STMicroelectronics, Sunplus Innovation Technology Inc., Toshiba Corporation, Holtek Semiconductor Inc., Puolop China, Bojuxing Industrial, Shanghai Neusoft Carrier Microelectronics Co., and others. 

Industry News and Update:

October 2019 – NXP Semiconductors launched the i.MX RT1170 range of crossover MCUs, which are expected to open the GHz microcontroller era. The firm says the new chip combines unprecedented performance, reliability, and high levels of integration to propel the automotive applications.

Market Overview:

The growing demand for electric vehicles is expected to drive the market’s growth. According to the Chinese Association of Automobile Manufacturers (CAAM), the EV market’s share increased, with 8.4% decline in sales of combustion vehicles (26.82 million in 2018 to 24.56 million in 2019), with EV sales remaining relatively constant with 1.26 million in 2018 and 1.21 million in 2019. While government officials expect fossil vehicle sales to decline in 2020, the EV sales will remain relatively healthy, helped by a stable incentive environment and substantial numbers of Tesla’s locally made vehicles in China. Beijing, Tianjin, Shanghai, and Shenzhen, among others are accounting for the demand for EV vehicles. Furthermore, premium EV makers in China, such as Tesla and Nio, have plenty of future growth, are driving the microcontroller market’s growth. Also, China’s New Energy Vehicle (NEV) policy is primarily guided by the MIIT, who announced that NEV subsidies would remain relatively steady during 2020 due to the cause of COVID-19 pandemic.

The anticipated rise in advanced features from the mid and high-end segments are expected to drive the growth of the market. The high demand of Chinese customers for greater connectivity in cars is driving the automakers to implement upgrades on their Chinese models ahead of the other major car players. The Chinese connected vehicle market is anticipated to witness a double-digit growth rate. According to the Accenture survey, currently, 11.6 million cars on Chinese roads feature online connectivity, which account for 10.6% of the market. Also, more than 41 million people in China will be using in-car connectivity by 2021.

Ongoing trade stand-off and recent decline in the automotive sector due to the COVID-19 pandemic are challenging the market’s growth currently. In January 2020, China’s car sales reduced by 18%, and the China Passenger Car Association (CPCA) considers that the first two to three-month sales could decline by 40% or more. Production shortfalls mostly from international players in China, resulting from supply chain disruptions will impact global automakers. While Moody’s Investor Service adjusted its global vehicle sales forecast to decline by 2.5% in 2020, instead of a previous 0.9% decline due to the COVID-19 outbreak. However, the decline is likely to be 6-8%, with knock-on effects into 2021.

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https://www.marketinsightsreports.com/reports/02082593026/china-automotive-microcontroller-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=28         

Highlights of TOC:

Market Overview: It starts with product overview and scope of the China Automotive Microcontroller market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Automotive Microcontroller market size analysis for the review period 2015-2026.

Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Automotive Microcontroller market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.

Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.

Market Dynamics: Readers are provided with a comprehensive analysis of Automotive Microcontroller market challenges, influence factors, drivers, opportunities, and trends.

Market Forecast: Here, the Automotive Microcontroller report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.                              

Frequently Asked Questions about China Automotive Microcontroller market:

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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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