X-by-wire System Market - Growth, Trends, and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||938004|
|出版日期||內容資訊||英文 100 Pages
|X-by-wire系統市場-成長，趨勢，預測(2020年∼2025年) X-by-wire System Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日期: 2020年05月01日||內容資訊: 英文 100 Pages||
The x-by-wire system market is anticipated to register a CAGR of about 11.5% during the forecast period (2020 - 2025).
Increasing Demand for Electrical cars and Autonomous Cars
The adoption rate of electric vehicles is increasing across the globe and the sales of electric and hybrid vehicles will show a significant growth during the forecast period. This growth can be attributed to the stringent emission norms and increased battery density. The ADAS features, which were earlier offered only in the high-end luxury cars are now being offered in entry level models.
From 2020, all the newly manufactured cars in the US will come installed with Automatic braking system, Lane Departure Warning System and Parking assistance system. This factor is expected to fuel the market for x by wire systems.
The autonomous car manufacturers will soon reach level 5 autonomy in which steering wheel's mechanical movement will be picked by sensors and electric control units will convert these signals into electronic signals that will control the electric motors for the movement of wheels.
China and India have manufacturing plants of some of the major OEMs that caters to global and local needs. Due to increase in disposable income of customers and infrastructure development in this region, demand for passenger cars and commercial vehicles is rising. China's adoption rate of electric vehicles is very high and it is constantly investing in reducing the weight of the vehicle. This is driving the installation rate of x by wire systems in vehicles.
North America is Leading the X-by-wire System Market
Geographically, the market studied is led by North America, followed by Asia-Pacific. In 2019, the United States dominated the North American region and accounted for approximately 72% of the regional share.
Shift by wire systems and throttle by wire systems enjoys a healthy share of x by wire system market in the US.
Additionally, with the growing demand for the adoption of electric and hybrid vehicles, electric vehicle manufacturers are also looking forward to adopting brake-by-wire systems in their vehicles.
With the growing trend of autonomous vehicles in the United States, automobile manufacturers, such as BMW, Audi, and Daimler, are now introducing autonomous vehicles in the market, which is expected to further boost the demand for the x-by-wire market.
Furthermore, with growing environmental concerns, along with the enactment of stringent emission regulations, the demand for and adoption of electric vehicles have been continually increasing, which in turn, is propelling the demand for x-by-wire systems in the country.
The steering manufacturers, who are already present in the country, are making strategic partnerships and are expanding their businesses across the world. For instance, Nexteer Automotive announced that the company is expanding its strategic software investment.
The market studied is fairly consolidated with major players, like Nexteer, JTEKT, ZF Friedrichshafen AG, PSA Citroen, and Orscheln Products. Nexteer is working with a few OEMs for the pre-development of SbW. The company owns some prototype cars and has conducted some successful tests in Sweden for these technologies. The first production is expected to start by 2022-2023.
JTEKT displayed its steering systems, driveline components, and bearing solutions in the AUTOMOBILI-D hall at the 2019 North American International Auto Show. The company has showcased its technological achievements, such as recently developed lithium-ion capacitor, which can operate in extremely high and low temperatures, as well JTEKT's advanced driver assist system (ADAS) and steer-by-wire technologies.