A Japanese market research firm, Fuji Chimera Research (Tokyo), is forecasting strong growth over the next 10 years for auto electronic systems and devices as vehicles become increasingly embedded with electronic controls and sensors. This translates to a market size of more than $290 billion according to Fuji Chimera. Market growth is primarily being driven by safety and environmental concerns, although comfort and functionality also come into play.
As diesel engine-powered cars become increasingly popular due to their solid environmental credentials, Fuji Chimera forecasts that 33.88 million diesel engine management systems will be required in 2022; 150% more than in 2012. Growth will be driven by production being stepped up in emerging economies and higher performance engines become commonplace in Europe.
Another high growth area where plastics will play a key role is fuel-conserving idle-stop systems. Fuji Chimera estimates 56.12 million such systems will be used in vehicles by 2022, representing a 9.8-fold increase compared with 2011 and valued at over $8.3 billion.