Global $31.74 Bn Drive by Wire Markets 2021-2026 – Shifting Focus Towards Development of Autonomous Driving Technologies – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Drive by Wire Market (2021-2026) by Application, Component, Sensor Type, On-Highway Vehicle Type, Off-Highway Vehicle Type, Electric & Hybrid Vehicle, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Drive by Wire Market is estimated to be 23.8 Bn and is expected to reach 31.74 Bn by 2026, growing at a CAGR of 5.9%
Key factors, such as the growing demand for electric vehicles by adopting electric circuit and related devices for efficient braking in hybrid electric and pure electric vehicles is likely to lead to a growth in the drive-by-wire market.
The growing vehicular weight has been a significant cause of concern due to the increasing mechanical components and rising software deployments. With the adoption of drive by wire technology, the overall weight of the vehicles can be reduced significantly thereby indicating a positive demand for drive by wire technology. Further, the advancements in active lane control and emergency control is propelling the growth of the market.
However, the increasing costs of electronic components make the drive by wire technology costlier. Moreover, the possibilities of electronic malfunctions in sensors leading to system failures can be a hindering factor to the growth of the market.
Some of the companies covered in this report are Robert Bosch GmbH, Continental AG, Infineon, Hitachi Automotive, ZF Friedrichshafen AG, SKF Group, Kongsberg Automotive, and Curtiss-Wright Corporation.
Market Segmentation
- By Application, the market is classified as Throttle-by-wire, Shift-by-wire, Steer-by-wire, Park-by-wire, and Brake-by-wire. Amongst all, the shift-by-wire segment is estimated to hold the highest market share during the forecast period.
- By Component, the market is classified as Electronic Control Unit, Engine Control Module, Actuator, Feedback Motor, Parking Pawl, Electronic Throttle Control Module, and Electronic Transmission Control Unit. Amongst all, the Electronic Control Unit segment is estimated to hold the highest market share during the forecast period.
- By Sensor Type, the market is classified as Throttle pedal sensor, Throttle position sensor, Pinion Angle Sensor, Hand wheel angle sensor, Gear shift position sensor, Park sensor, and Brake Pedal Sensor. Amongst all, the Gear shift position sensor segment holds the highest market share during the forecast period.
- By On-Highway Vehicle Type, the market is classified as PC, LCV, Trucks, and Buses. Amongst all, the PC i.e the passenger cars segment is estimated to hold the highest market share during the forecast period.
- By Off-Highway Vehicle Type, the market is classified as Agricultural Tractors, Construction & Mining Equipment, and Forklift. Amongst all, the agricultural tractors are estimated to hold the highest market share during the forecast period.
- By Electric and Hybrid vehicles, the market is classified as BEV, PHEV, and FCEV. Amongst all, the BEV segment is estimated to hold the highest market share during the forecast period.
- By Geography, North America is projected to lead the market during the forecast period.
Recent Developments
- Schaeffler plans to buy the drive by wire technology for autonomous vehicles from Paravan GmbH to eliminate the need for the steering column and create potential opportunities in the areas of cab interior design – 6th August 2018
- Nissan Motor Co Ltd has recently launched a concept car called “EA2” which is equipped with x-by-wire or commonly known as drive-by-wire technology. – 31st December 2019
Market Dynamics
Drivers
- Growing popularity of Electric Vehicles
- Developments in active lane control and emergency braking
- Higher emphasis by manufacturers on car weight reduction
Restraints
- High cost of electric components and systems
- Potential electronic malfunctions in sensors
Opportunities
- Shifting focus towards development of autonomous driving technologies
- Stringent vehicle emission standards laid by the regulatory authorities
Challenges
- Less Awareness about internal systems issues
- Use of traditional hydraulic systems in vehicles
Companies Mentioned
- Robert Bosch Gmbh
- Continental AG
- ZF Friedrichshafen AG
- Infineon Technologies AG
- Nexteer Automotive (Pacific Century Motors)
- CTS Corporation
- Ficosa International SA (Panasonic Corporation)
- Kongsberg Automotive
- Hitachi Automotive Systems, Ltd.
- Curtiss-Wright Corporation
- P.S.A Citroen
- Nissan Motor Corporation
- ME Mobil Elektronik GmbH
- SKF Group
- Denso Corporation
- KSR International
- LORD Corporation (Parker Hannifin Corporation)
- Dura Automotive Systems (MiddleGround Capital)
- ThyssenKrupp AG
- HELLA GMBH
- Schaeffler
- Peugeot
- Danaher Motion
For more information about this report visit https://www.researchandmarkets.com/r/t4jh16
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