Automotive steer-by-wire system has gained a quick mileage owing to its higher efficiency. The emphasis on providing a better passenger experience is likely to lead the growth of the global — automotive steer-by-wire system market in the years to come. The observation offered by Market Research Future MRFR suggests that the market is expected to register over the assessment period. It reveals that the market is poised to attract huge investments over the next couple of years. Also, the increasing growth rate of the automotive industry is anticipated to boost the demand for the product in the foreseeable future.
Steer-by-wire systems eliminate mechanical linkages near the steering which helps in enhancing vehicle experience. This, in turn, has raised awareness about complete control to drivers. It is supposed to accelerate revenue growth of the automotive steer-by-wire system market in the foreseeable future. The systems control wheel directions using electric motors. Electrification of vehicles has gained much popularity in the industry. It is presumed to further support the expansion of the market on the global front. Thus, the rising demand for better steering capabilities of automobiles is anticipated to drive the proliferation of the automotive steer-by-wire system market in the upcoming years.
Fuel efficiency is another major ongoing trend in the automotive industry. It is projected to influence the automotive steer-by-wire system market positively. Rising fuel prices have led to a rapid increase in the sales of fuel-efficient technologies. It has emerged as a driver of the market and is expected to continue catalyzing market growth over the next few years. The elimination of mechanical linkages reduces the weight of the system. It supports in catering to the need for lightweight fuel-efficient components.
Increasing demand for automobiles is anticipated to propel the proliferation of the automotive steer-by-wire system market. Rising urbanization, in conjunction with increasing disposable income, is projected to further boost demand for passenger vehicles. Also, a rise in demand for high-end vehicles is also observed. These factors are prognosticated to support the expansion of the market in the coming years. In the near future, technological advancements are poised to create opportunities for the market participants.
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Nissan Motor Company Ltd (Japan), JTEKT Corporation (Japan), Thyssenkrupp AG (Germany), ZF Friedrichshafen AG (Germany), Paravan GmbH (Germany), LORD Corporation (US), Danfoss Power Solutions, Inc. (US), Nexteer Automotive (US), SKF (Sweden), and Eaton Corporation (Republic of Ireland) are few of the important participants of the global automotive steer-by-wire system market.
On the basis of component, the automotive steer-by-wire system market has been segmented into feedback motors, steering actuators, angular sensors, and others.
On the basis of fuel type, the automotive steer-by-wire system market has been segmented into ICE and electric.
On the basis of vehicle type, the automotive steer-by-wire system market has been segmented into light commercial vehicle, passenger car, and heavy commercial vehicle.
The geographical study of the global automotive steer-by-wire system market has been assessed in this MRFR report for four regions, namely Asia Pacific, North America, Europe, and the Rest of the World (RoW). These segments based on region are also narrowed down to country-level markets for a detailed intelligence. Europe is presumed to lead the global market in the forthcoming years. With the presence of deveoped economies such as Germany, the U.K., Italy, etc., the automotive steer-by-wire system market is supposed to witness high growth rate in the region. Also, the region is equipped with advanced automotive technology infrastructure. It is poised to influence the market favorably. Asia Pacific is also projected to witness high growth in demand. It is owing to the development of the automotive industry in the region.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
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 Porter’s Five Forces Analysis
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
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Automotive Steer-By-Wire System Market, By Component
5.2 Feedback Motor
5.2.1 Market Estimates & Forecast, 2018–2023
5.2.2 Market Estimates & Forecast, By Region, 2018–2023
5.3 Angular Sensors
5.3.1 Market Estimates & Forecast, 2018–2023
5.3.2 Market Estimates & Forecast, By Region, 2018–2023
5.4 Steering Actuator
5.4.1 Market Estimates & Forecast, 2018–2023
5.4.2 Market Estimates & Forecast, By Region, 2018–2023
5.5.1 Market Estimates & Forecast, 2018–2023
5.5.2 Market Estimates & Forecast, By Region, 2018–2023
6 Global Automotive Steer-By-Wire System Market, By Propulsion Type
6.2.1 Market Estimates & Forecast, 2018–2023
6.2.2 Market Estimates & Forecast, By Region, 2018–2023
6.3.1 Market Estimates & Forecast, 2018–2023
6.3.2 Market Estimates & Forecast, By Region, 2018–2023
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