Automotive Chip Industry to Generate $121.3 Billion, Globally, by 2031 at 9.6% Compound Annual Growth Rate: Allied Market Research

The global automotive chip market is driven by factors such as an increase in demand for advanced driving assistance systems (ADAS), a rise in demand for electric vehicles, and a surge in demand for autonomous driving.  

PORTLAND, Ore., Oct. 18, 2023 /PRNewswire/ — Allied Market Research published a report, titled,Automotive Chip Market by Component (processor, analog IC, discrete power, sensor, memory, others), by Vehicle type (passenger car, light commercial vehicle, heavy commercial vehicle), by Application (powertrain, body electronics, safety systems, chassis, telematics & infotainment systems), by Propulsion Type (ICE vehicles, electric vehicles): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global automotive chip industry generated $49.8 billion in 2021 and is anticipated to generate $121.3 billion by 2031, witnessing a CAGR of 9.6% from 2023 to 2032.  

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Automotive chips, also referred to as automotive semiconductors or microcontrollers, are integrated circuits (ICs) specifically designed for automotive applications. Automotive chips are essential components of modern automotive systems, enabling the control and management of a variety of functions within a vehicle. 

 Prime Determinants of Growth: 

The global automotive chip market is driven by factors such as an increase in demand for advanced driving assistance systems (ADAS), a rise in demand for electric vehicles, and a surge in demand for autonomous driving. However, the complexity of design and high manufacturing costs are hampering the automotive chip market growth. On the contrary, increased focus on cyber security, and an increase in demand for connected cars are expected to offer remunerative opportunities for expansion of the automotive chip market during the forecast period. 

Leading Market Players in Automotive Chip Industry: – 

  • Analog Devices, Inc. 
  • Infineon Technologies AG 
  • NVIDIA Corporation 
  • NXP Semiconductors 
  • Renesas Electronics Corporation 
  • Robert Bosch GmbH 
  • ROHM CO. 
  • LTD, STMICRO Electronics 
  • Texas Instruments Incorporated 

The report provides a detailed analysis of these key players in the global automotive chip market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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Car Chip Industry Report Coverage & Details: 

Report Coverage 


Forecast Period 


Base Year 


Market Size in 2021 

$49.8 Billion 

Market Size in 2031 

$121.3 Billion 


9.6 %

No. of Pages in Report 


Segments Covered 

Product, Application, Propulsion Type, and Region 


Increase in demand for advanced driving assistance system (ADAS)  

Rise in demand for electric vehicle 

Surge in demand for autonomous driving 


Increased focus on cybersecurity 

Rise in demand for connected cars 


Complexity of design  

High manufacturing costs 

COVID-19 Scenario: 

  • Due to the COVID-19 pandemic and the subsequent global lockdowns, the automotive chip market faced a downturn. 
  • However, as the global situation has recovered, the demand has increased for EVs
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A scenario analyze of South African automotive industry

The role of supply chain in knowledge transfer: a case study of South African automotive industry
Scientists analyze the url concerning the overall performance of foreign vehicle assemblers and regional pieces suppliers in South Africa, highlighting that the rewards of technological innovation transfer as a result of overseas direct financial commitment have not attained nearby corporations. Credit score: Are unable to be reused devoid of permission

Unemployment amid the youth is a significant problem in lots of acquiring countries, specifically in Africa. This situation stems in wonderful component from a stagnant production sector. Firms in African nations have failed to expand appreciably about the past 10 years, top to fewer career positions for the youth.

Foreign direct investment (FDI) is a promising avenue for addressing this obstacle. Neighborhood corporations in acquiring countries can understand highly developed systems and management strategies from multinational providers. This transmission of awareness, in normal, aids make regional businesses extra effective, major to financial advancement in the production sector. Having said that, the move of overseas engineering and management know-how depends on the framework of output networks (supply chains), which means area firms may well not mechanically benefit from FDI.

In opposition to this backdrop, a investigate workforce led by Affiliate Professor Yuki Higuchi from the Faculty of Economics at Sophia University, Japan, has not too long ago lose further mild on the connection between FDI, knowledge transmission, and agency habits.

They applied the South African automotive marketplace as a situation study, peering into the associations concerning the actions of vehicle assemblers and elements suppliers, which symbolize overseas firms and local companies, respectively.

Their paper, revealed in The Entire world Financial state on 23 August 2023, was co-authored by Dr. Justin Barnes of the Gordon Institute of Company Science at the College of Pretoria, Dr. Anthony Black of the College of Economics at the University of Cape City, and Dr. Keijiro Otsuka of the University of Economics at Kobe College.

The crew gathered firm-degree info from the South African Automotive Benchmarking Club, that contains data about the spot, ownership, and “tier level” of automotive firms in South Africa. In this study, the “tier” of a organization refers to its relative situation in the offer chain. Place simply just, to start with-tier firms source solutions directly to the international assemblers, whereas 2nd-tier companies offer merchandise to first-tier companies, and so on. Most of the reduced-tier companies were community, while some of the initial-tier companies had been international-owned.

The researchers conducted many statistical analyses using annual observations from 162 corporations concerning 2002 and 2017, focusing on critical functionality indicators representing small business efficiency, administration, and expansion. As a result of regression assessment, they acquired insights into how multinational assemblers and community suppliers responded to the enlargement of the automotive business in South Africa.

“Our solution serves to illustrate the existence, or deficiency thereof, of the transmission of technological innovation and expertise from overseas assemblers to other companies,” points out Dr. Higuchi. “It is a novel analysis regarding FDI spillovers from international assemblers to numerous levels of local suppliers.”

These analyses unveiled that when the

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The Aeromotive Team Partners With Roadster Shop to Make Automotive Aftermarket Powerhouse | Business

EL SEGUNDO, Calif.–(Enterprise WIRE)–Oct 19, 2023–

The Aeromotive Group and Roadster Shop declared these days that the organizations have merged to build a new automotive aftermarket powerhouse. Running as Roadster Store, the combined power of both of those brands will travel the enhancement of revolutionary items, products and services and written content, and will leverage a robust economical and operational basis to support accelerated expansion.

This press launch characteristics multimedia. Look at the whole launch here:

Roadster Store co-founders, Jeremy and Phil Gerber (Photo: Business enterprise Wire)

“As a lifelong enthusiast, I’m thrilled to announce this partnership involving The Aeromotive Group and Roadster Shop,” reported Laurent Potdevin, CEO of The Aeromotive Team. “Having aided develop worldwide iconic makes in my occupation, I consider Roadster Store is a gem in the automotive field uniquely positioned to turn out to be an aspirational, iconic and worldwide phenomenon. As a final result of this alliance, Roadster Store can leverage The Aeromotive Group’s portfolio of brands, its operational foundation, and entry to new concentrations of cash for expansion.”

Roadster Shop is an American achievement tale, obtaining acquired a status for top-top quality craftsmanship and design and style in production and car or truck constructing. Started in the 1980s, the shop’s main target was creating chassis for prewar Fords, alongside with a handful of complete avenue rod builds.

Jeremy, Phil and their father Neal teamed up to order Roadster Store in 2004. Beneath their vision, it has developed exponentially in dimensions and scope. The organization engineers and sells custom chassis and suspensions uncovered under some of the top rated hot rods in the country. The elite coachbuilding business has constructed some of the most advanced, trendsetting demonstrate vehicles in the world.

“Our partnership with The Aeromotive Group gives us the prospect to gas accelerated progress and supercharge our expansion,” reported Jeremy Gerber, co-owner of Roadster Shop. “Over the earlier 20 many years, we have grow to be a residence title in high performance incredibly hot rods, muscle mass cars and trucks and trucks. Phil and I are pretty energized about the potential right here at Roadster Store.”

Dependent in a suburb of Chicago, Roadster Shop has two services with total chassis manufacturing, metallic fabrication, and motor vehicle development, along with a paint and system department. Their eye for design and style, craftsmanship, and consideration to element has gained quite a few leading awards and recognition in main media retailers.

“I seem forward to writing the upcoming chapter in Roadster Shop background with our companions at The Aeromotive Team,” said Phil Gerber, co-operator of Roadster Shop. “It’s thrilling to have further means to construct the supreme tailor made automobiles and envision new types, parts and companies. And we’ll have greater capabilities to marketplace Roadster Shop as the top automotive life style brand globally.”

Aeromotive has been synonymous with innovation, passion and efficiency at the highest amounts for many years. The group contains best names in the business:

  • Aeromotive Fuel Techniques
  • Waterman Racing Elements
  • JBA Efficiency
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Ford, UAW leaders spar as car strike expenses rise

DEARBORN, Michigan, Oct 16 (Reuters) – Ford (F.N) government chairman Invoice Ford on Monday urged the United Vehicle Staff union to conclusion a 32-working day strike and access a new labor settlement, and warned of the increasing influence to the automaker and the U.S. economy.

“We can halt this now,” Ford mentioned of the strike that expanded past week to shut down the Kentucky plant. “I get in touch with on UAW colleagues … We need to come with each other to convey an stop to this acrimonious round of talks.”

Ford produced his charm in a push meeting at the automaker’s historic Rouge assembly plant near enterprise headquarters in Dearborn, Michigan.

UAW President Shawn Fain replied with a statement warning Ford that the union could “near the Rouge” with a strike. “If Ford needs to be the all-American car company, they can shell out all-American wages and gains,” Fain stated.

Extra than 34,000 union members functioning at Ford, Typical Motors (GM.N) and Chrysler father or mother Stellantis (STLAM.MI) are out on strike and Ford has furloughed 2,480 other staff, citing impacts of the strike.

Meanwhile, talks between Stellantis and the UAW remained active on Monday, sources reported.

The strikes have price the Detroit A few automakers, suppliers, sellers and workers a total of $7.7 billion by way of Oct. 12, Anderson Financial Group of East Lansing, Michigan, approximated in a new report Monday.

“We have entered the threat zone for several suppliers,” AEG mentioned in a statement.

Ford, the good grandson of organization founder Henry Ford, stated Toyota, Honda, Tesla and other automakers “are loving this strike simply because they know the for a longer time it goes on, the better it is for them.”

In reply, Fain reported personnel at Tesla and other non-union U.S. auto producers “are not the enemy – they are the UAW users of the foreseeable future.”

The UAW’s walkout at Kentucky Truck, Ford’s biggest and most worthwhile assembly procedure globally, “harms tens of 1000’s of American staff,” Ford explained. “If it carries on, it will have a main impact on the American economy.”

On Friday, Fain accused Ford of seeking to match the talks with insufficient provides and insisted Ford sharply boost compensation. Ford CEO Jim Farley ought to “go get the massive checkbook – the a person Ford employs when it needs to devote thousands and thousands on firm executives or Wall Road giveaways,” Fain explained.

Fain also vowed to strike at added plants at any time.

On Thursday, a senior Ford executive claimed the automaker was “at the limit” of what it can devote on greater wages and benefits for the UAW. Its latest provide consists of a 23% wage hike by early 2028, which is increased than GM or Stellantis has provided. Ford has explained the UAW’s proposals

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Why China hopes to dominate Europe’s electric vehicle market

European consumers use Chinese products every day. Will they also embrace cars by companies such as BYD that have their sights set on the European market?

Andreas Wiborg, a product specialist, at the BYD showroom in Copenhagen. (Charlotte de la Fuente for The Washington Post)

COPENHAGEN — Some of the newest, lowest-cost electric vehicles for sale in Europe are showcased on the second floor of a shopping mall here, steps away from H&M, a fitting place for an upstart to go mainstream. The cars’ exteriors had been dusted and buffed. The logo on their grills had three letters, BYD.

“These are Chinese cars?” one mall shopper asked, stopping at the showroom entrance.

“Yes, that’s right,” said Charlotte Ejlertsen, the sales manager.

The shopper, Michael Christiansen, pursed his lips.

Ejlertsen said China already made so many of the products central to his life, including, most likely, the phone chips in his pocket. So what’s one more?

After gaining a dominant hold on the raw materials and batteries necessary for electric vehicles, China is now making a play for the one thing it doesn’t have: cars on roads in the West. Chinese automakers have been pushing into new markets, particularly in Europe, building showrooms and inking deals with existing dealers everywhere from Paris to the northern reaches of Scandinavia. The implicit sales pitch is that those vehicles are an essential part of the world’s clean energy goals.

But in Europe, which aims to ban the sale of traditional petrol cars by 2035, the Chinese EVs are a solution and problem all at once.

The Chinese brands are poised to offer something that Europe’s famed automakers can’t yet match — low-cost EVs for the masses. As in the United States, many climate-attuned European consumers are hungry for a vehicle that helps them cut their dependence on fossil fuels without a premium price tag.

While that makes the Chinese imports attractive, they also pose a clear threat to one of Europe’s biggest industries, which underestimated the speed of the electric revolution. Brussels, amid an investigation into potential subsidies, is weighing whether to raise tariffs on Chinese vehicles. European Commission President Ursula von der Leyen said the global market is now flooded with “cheaper Chinese electric cars.” Auto executives have talked about a period of unprecedented upheaval, influenced in part by one question: How many people are willing to buy a Chinese car?

The underbelly of electric vehicles

That answer is emerging day after day in places such as the Copenhagen showroom of BYD, where three models sit under rectangular lights, with the cheapest — named the Dolphin (starting at $33,000 in Denmark) — closest to the entrance. A sign on the wall says the company’s EVs “are among the best in the world.” The showroom is staffed solely by Danes, including the manager, Ejlertsen, whose parents ran a Peugeot dealership. She said she has “petrol”

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Automotive Chromium Material Market 2023 Industry Outlook, Business Strategies, Trends and Forecast to 2029 has provided qualitative and informative knowledge by adding titled Automotive Chromium Material Market that recognizes, explains, and forecasts that the global market. The report provides an organized consideration analysis with projections for the market players. The report aims to ease the understanding of global Automotive Chromium Material market estimates through statistical and numerical data in the form of tables, graphs, and charts. The research offers a calculated assessment of the new recent developments, import-export analysis, production analysis, market share, market players, opportunities, strategic market growth, and market size. The report provides detailed information on major market competitors and emerging companies with significant market share based on high-quality demand, revenue, sales, and product manufacturers.

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Market Dynamics:

Different parameters are used to identify either the growth of the global Automotive Chromium Material market globally or the decline of the market. The report covers different factors, solutions, as well as ways to increase the market share. The report identifies the market growth rate based on the volume of units sold and the value of each product manufactured. The report provides a detailed evaluation of the market size by highlighting information on different aspects which include drivers, restraints, opportunities, and threats, and market forecast to 2029.

The major players covered in the market study:

  • Atotech
  • Kakihara Industries
  • MVC Holdings
  • Platform Specialty Products

What are the product types covered in the market 2023?

  • Decorative Plating Chromium
  • Functional Plating Chromium

What are the end users/applications covered in the market 2023?

  • Passenger Vehicles
  • Commercial Vehicles

Which regions are covered and what are the global Automotive Chromium Material market trends in these regions?

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
  • South America (Brazil, Argentina, Colombia, and Rest of South America)
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

View the Complete Report including the Most Newest Data, Tables, and Chart:

The report introduces the industrial chain of the global Automotive Chromium Material market, industrial chain analysis, raw material sources, and downstream buyers. The report prospects the whole market, including the global production and revenue forecast, regional forecast. The report offers a detailed analysis of geographical areas and describes the competitive scenario. The study presents a summary of each market segment such as type, end-user, applications, and region. In continuation of this data, the sale price is for various types, applications, and the region is also included in the report. The report analyzes the potential for various applications, discusses recent product innovations, and gives an overview of potential regional market shares.

Major Factors Covered In The Report:

  • Study of the important players and their growth plans
  • Market analysis concerning growth trends, prospects, and also their participation in this global Automotive Chromium Material market
  • Market size (volume & value) from the company, essential regions/countries, products, and application
  • Market rivalry landscape, SWOT
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