Body Control Module Market Size & Share, by Type (CAN, LIN); Vehicle Type (Passenger Car, Commercial Vehicle, Electric Vehicle); Application (Interior, Exterior) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4789
  • Published Date: Apr 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Body Control Module Market size is expected to cross USD 62 billion by the end of 2035, growing at a CAGR of 5.60% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of body control module was over USD 32 billion. The market growth is mainly owing to the increased demand for advanced vehicle safety, comfort and convenience, stringent regulations from the government; increasing demand for automobiles. At the same time, research is also being conducted on manufacturing low-cost control modules, which is expected to spur market growth. Demand for active safety features such as driver assistance systems in automobiles is increasing and is expected to drive the growth of market during the forecast period. Rising demand for electric and hybrid vehicles, increasing global sales of automobiles, and increasing need for advanced driver assistance features in new vehicles are expected to boost the growth of the market in the near future. Between 2012 and the year 2021, around 18 million electric vehicles were sold worldwide.

In addition to this, as the population increases, the demand for automobiles is increasing year by year. As a result, more and more people are taking out auto loans to buy new cars. The global body control module market is expected to escalate during the forecast period owing to the ease of choosing auto finance with easy EMI options and digital approvals. For instance, it was noted that US auto loans reached nearly USD 1 trillion in the year 2019, up 6.5% from the year 2018. Hence, this is anticipated to be a prime factor to fuel the growth of the global market notably over the forecast period. The Automotive Central Body Control Module (BCM) is a processor-based power distribution center that controls many body-related functions, including: Such as door modules, interior and exterior lighting, windows, security, door locks and access control, and various security features. In general, a Body Control Module (BCM) is a type of embedded system used to control the vehicle's electrical system. These factors are predicted to present the potential for market expansion over the projected period.


Body Control Module Market
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Body Control Module Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Demand for Advanced Safety Features in Automobiles – With road accidents becoming a major concern worldwide, automotive manufacturers are increasingly focusing on integrating advanced safety systems into their vehicles. These safety systems require complex electronic control units such as BCMs, which are responsible for controlling various functions such as lighting, power windows, climate control, and safety systems. The global advanced driver assistance systems (ADAS) industry was noted to garner a revenue of nearly USD 28 billion in the year 2020.
  • Growing Popularity of Electric and Hybrid Vehicles – The demand for electric and hybrid vehicles has been steadily increasing in recent years, driven by factors such as government initiatives, environmental concerns, and advancements in battery technology. These vehicles require sophisticated electronic components, including BCMs, to control various functions such as battery management and charging, and to maintain optimal performance. The global electric vehicle sales were noted to account to nearly 3.4 million units in the year 2020.
  • Upsurge in the Demand of Light Commercial Vehicles – for instance, it was observed that light commercial vehicles contributed more than 78% to the global commercial vehicle production in 2021.
  • Growing Production of Heavy Trucks – It was estimated that in United States more than 280,000 heavy trucks were produced in 2021, which was ~20% more than the production volume of 2020. This is estimated to drive the body control module market growth.
  • Increasing Number of Commercial Drivers –A rise in the number of drivers in transportation industry is estimated to boost the market growth.  For instance, in United States, more than 90o,000 truck drivers were employed in 2020.

Challenges

  • High Cost of Installation- It is estimated that USD 600 -USD 1000 is the average cost of installation of the body control module.
  • Huge Initial Investment - Initial investment refers to the total sum that a buyer is required to pay in accordance with the conditions of the business opportunity contract, either before or at the time the goods or services are delivered, or within six months of the buyer starting to operate the business opportunity. The high costs included in various stages is expected to pose as a challenge as it becomes difficult for the population with middle income or startups to incorporate pressure sensitive adhesives in use of varied processes.
  • Complex Mechanism

Body Control Module Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~5.60%

Base Year Market Size (2022)

~ USD 32 Billion

Forecast Year Market Size (2035)

~ USD 62 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Body Control Module Segmentation

Vehicle Type (Passenger Car, Commercial Vehicle, Electric Vehicle)

The global body control module market is segmented and analyzed for demand and supply by vehicle type into passenger car, commercial vehicle, and electric vehicle. Out of the three types of vehicles, the passenger vehicles segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the fact that the sales of passenger cars have increased worldwide, and the demand for passenger cars is increasing. For instance, it was noted that global passenger car sales in the year 2020 reached about 63 million units. Profitable financing solutions offered by various financial institutions are aimed at individuals to purchase/lease a vehicle on their own with great convenience. Therefore, even customers with limited income sources are interested in purchasing a car for their daily commute. All these factors lead to profitable opportunities for segmental growth. On the other hand, a significant share is also attributed to the commercial vehicle segment by the end of the forecast period. Commercial vehicles cost more than passenger cars, so people use vehicle finance to buy commercial vehicles. Vehicle modification or vehicle upgrade benefits in leasing commercial vehicles through vehicle financing should also boost the growth of the segment.

Type (CAN, LIN)

The global body control module market is also segmented and analyzed for demand and supply by type into CAN, and LIN. Amongst these two segments, the CAN segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to the growing demand for electric and hybrid vehicles, and advancements in sensor technologies. The demand for electric and hybrid vehicles has been growing rapidly in recent years, driven by factors such as government incentives, environmental concerns, and advancements in battery technology. These vehicles require sophisticated electronics and communication systems, including the CAN bus, to ensure efficient and reliable performance. Sensor technologies are advancing rapidly, with sensors becoming more compact, efficient, and affordable. These advancements are enabling the development of new applications and use cases for the CAN bus, such as predictive maintenance, vehicle tracking, and remote diagnostics. For instance, CAN bus-based sensors can monitor various parameters such as tire pressure, engine performance, and driver behavior, and transmit the data to a central ECU for analysis and action. The trend of vehicle automation is gaining momentum, with automotive manufacturers investing heavily in developing advanced driver assistance systems (ADAS) and autonomous driving technologies. These systems rely heavily on the CAN bus to enable communication between various ECUs and sensors, ensuring coordinated and safe operation of the vehicle.

Our in-depth analysis of the global market includes the following segments:

           By Type

  • CAN
  • LIN

 

   

       By Application

  • Interior
  • Exterior

 

      By Vehicle Type

  • Passenger Car
  • Electric vehicle
  • Commercial vehicle

 


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Body Control Module Industry - Regional Synopsis

North American Market Forecast

The body control module market in the North America region is projected to hold the largest market share of about ~35% by the end of 2035. The presence of major automotive finance providers, along with increasing vehicle production in the region, is a major factor expected to drive market growth. According to statistics released by the International Automobile Organization (OICA), automobile production in the Americas region has increased from about 15 million in the year 2020 to 16 million in the year 2021. Demand for body control module for vehicle purchases is expected to increase over the next few years owed to the rapid adoption of advanced vehicle technologies and increasing demand for electric, connected and autonomous vehicles. Some car dealerships also provide financing through their own companies, commonly referred to as in-house financing. This type of dealer is not considered cheap, as the interest rate charged by the buyer is significantly higher than other types of lenders and dealers.

APAC Market Statistics

The body control module market in the Asia Pacific region is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the spiking expansion of the automotive industry in the region. Other factors contributing to the market growth are favorable government policies on car purchases in economies such as India, Japan and China, increasing disposable income leading to increased purchasing power, and increasing gross domestic product (GDP). The growth of the market in this region can also be ascribed to the huge population throughout the region. According to the International Energy Agency, the World Bank reports that the population of East Asia and the Pacific reached 2.37 billion by the year 2021, making China the largest producer of vehicles. In addition, the region is becoming more urbanized, increasing traffic congestion and CO2 emission limits. Hence, this is anticipated to be a major factor to fuel the growth of the regional body control module market notably over the forecast period.

Europe Market Forecast

Further, the body control module market in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for advanced safety features in the regional vehicles. The demand for advanced safety features in vehicles is on the rise in Europe, driven by factors such as regulatory requirements, consumer awareness, and advancements in sensor technologies. The body control module plays a crucial role in enabling these safety features, such as automatic emergency braking, lane departure warning, and adaptive cruise control. Europe is witnessing a significant increase in the sales of electric vehicles, driven by factors such as government incentives, environmental concerns, and advancements in battery technology. These vehicles require sophisticated electronic systems, including the body control module, to ensure efficient and reliable performance. According to a report the sales of electric vehicles in Europe increased by 136% in 2020, with a total of 1.39 million electric vehicles sold during the year. Europe is home to several luxury car manufacturers, such as Mercedes-Benz, BMW, and Audi, which are known for their innovative technologies and advanced features. The body control module plays a key role in enabling these features, such as automatic climate control, adaptive lighting, and remote keyless entry.

Research Nester
Body Control Module Market Size
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Companies Dominating the Body Control Module Market

top-features-companies
    • Volvo Group
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Tata Motors Limited
    • Daimler Truck AG
    • Toyota Motor Corporation
    • Mahindra & Mahindra Limited
    • Paccar Inc.
    • Hino Motors, Ltd.
    • Volkswagen AG
    • Scania CV AB
    • Robert Bosch GmbH

In-the-news

In The News

  • Volvo Group - revealed an extended range for Volvo’s battery electric trucks, new fully electric rear axle, which is spaced up for more batteries.

  • Tata Motors Limited - unveiled an extensive and comprehensive range of 21 new commercial vehicles across all segments. These cutting-edge vehicles add to Tata Motors' established "Power of 6" benefit proposition to address specific usage and applications while delivering higher productivity and lower total cost of ownership. They were designed and engineered to cater to the evolving needs of cargo and people transport across segments and applications (TCO).

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 4789
  • Published Date: Apr 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand of commercial vehicles including light commercial vehicles and heavy commercial vehicles along with rising urbanization are the major factors driving the market growth.

The market size of body control module is anticipated to attain a CAGR of ~5.60% over the forecast period, i.e., 2023-2035.

The requirement of high initial investment is estimated to be the growth hindering factor for the market expansion.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Volvo Group, Tata Motors Limited, Daimler Truck AG, Toyota Motor Corporation, Mahindra & Mahindra Limited, Paccar Inc., Hino Motors, Ltd., Volkswagen AG, Scania CV AB, Robert Bosch GmbH, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by vehicle type, application, type, and by region.

The passenger vehicles segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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