Market Analysis
According to statistic reports published by Market Research Future, the global drive-by-wire market is accounted to grow at a CAGR of 9% by 2023 during the forecast period.
Drive-by-wire is an automotive technology that alternates conventional mechanical systems to electric systems. The traditional system of mechanisms such as throttle control, braking, steering, and gear shifting. All these components are exchanged by sensors, electronic control unit, electric motors, and actuators, etc.
Top Impacting Factors for Driving Drive-By-Wire market
At present, the technology in drive-by-system accounted by reduction of mechanical parts which is replaced by electric systems. This technology also contributes to making vehicle lightweight, hence making the vehicles fuel-efficient. This implementation now has been mandatory in developed and more of developing countries in the world.
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Now that, it is clear that as such technology is becoming more efficient and affordable, fuel efficiency laws have become more comprehensive and stringent globally. These are proving to be positive for the drive-by-wire market to grow at a high level with steady CAGR.
Besides, the use of drive-by-wire technology in passenger cars also facilitates improvements in monitoring, thereby reducing the cost of maintenance of the vehicle. This is helping the manufacturers in investing more and more over this technology and supporting highly in driving the market to grow tremendously.
Moreover, the drive-by-wire technology is mostly suited for hybrid electric vehicles as it helps to improve the operation of the start-stop and regenerative braking systems. In recent time, drive-by-wire application is having the best of use in forklifts, harvesters, tractors, construction and mining equipment, industrial electric vehicles, mowers, utility vehicles, and other off-road vehicles. The adoption rate has been increased since the past decades which have formally helped the drive-by-wire market to grow substantially with more future opportunities.
Drive-by-Wire Market Segmentation
The global drive-by-wire market research report provides market segmentation by the application which includes throttle by wire, brake by wire, shift by wire, steer by wire and others. Of these, the steer by wire is expected to capture the highest CAGR over the forecast period. This system also comprises embedded software, integrated electronic control unit and control the area network bus interface. This reduces the need for maintenance services of the system.
Regional Outlook
Geographically, MRFR has provided a detailed report on the global drive-by-wire market, that has covered major regions of North America, Europe, Asia Pacific and Rest of the World. Of these, Europe is expected to lead in the growth of the global drive-by-wire market as countries such as Germany, Spain, U.K., Sweden, Italy, Belgium, France, and the Netherlands are contributing in the growth of the market over the forecast period. The reason behind the growth of the market owns to the presence of the large automotive market which is continually expanding with the growing economic environment.
Key Players:
The prominent players in the drive-by-wire market include Robert Bosch GmbH (Germany), Continental AG (Germany), Curtiss Wright Corp. (U.S.), TRW Automotive (U.S.), Nissan Motor Corporation (Japan), and P.S.A Citroen (France), and SKF Group (Sweden). Mobil Elektronik GmbH (Germany), Hitachi Automotive Systems, Ltd. (Japan), Continental Group (Germany), Denso Corporation (Japan), ZF Friedrichshafen AG (Germany), Curtiss-Wright Corporation (U.S.), and Infineon Group (Germany) are among others.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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