Drive-by-Wire Market Overview:
The
global drive by wire market is
expanding at a moderate CAGR of 5.90% during the forecast period from 2023 to
2032. The global drive by wire market 2023 is estimated to witness expansion
during the forecast period due to the rising sales of electric vehicles and
plug-in hybrid electric vehicles across the globe. The usage of drive-by-wire
technology in passenger cars also provides improvements in fault recognition
and regulation. Therefore, it also reduces the cost of maintenance of the
vehicle. The rising demand for off-road vehicles has also resulted in the
demand for the drive-by-wire market.
With the rising concern of increasing pollution, various rules and
regulations have been implemented by the government of several countries.
The
usage of drive-by-wire technology in an automotive increases the fuel
efficiency of an automotive by lessening the weight of the vehicle. The use of
these systems improves the safety of the vehicle by offering computer-controlled
systems such as lane assists systems and electronic stability control. These
systems are very efficient and demand low maintenance, which increases their
demand across commercial and passenger cars. On the other hand, several
authorities believe that mechanical systems are more trustworthy. Besides, the
drive-by-wire systems are more complicated, and hence, they are more expensive
than mechanical controls. The growth of the market is likely to be restricted
due to the low rate of adoption among several vehicle owners.
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drive-by-wire Market Segmentation
The
global drive by wire market can be segregated on the basis of vehicle type,
application, and region.
On
the basis of vehicle type, the global drive by wire market can be classified
into commercial vehicles and passenger cars.
Between these two segments, the commercial vehicle segment is estimated to
experience considerable growth during the review period.
On the basis of application, the global
drive by wire market can be classified into shift
by wire, brake by wire, throttle by wire,
steer by wire, and others. among all, throttle by wire is estimated to lead the
market during the review period.
On the basis of region, the global
drive by wire market can be classified into Europe, North America,
Asia-Pacific, and the Rest of the World (RoW).
Regional Analysis
On
the basis of region, the global drive by wire market can be segregated into
Europe, North America, Asia-Pacific, and the Rest of the World (RoW). As per
the analysis by the MRFR, the European market is estimated to lead the global
drive-by-wire market. With the presence of countries like Spain, Germany,
Italy, Belgium, Netherlands, France, the U.K., the expansion of the market has
expanded significantly. In the European region, Germany is estimated to lead
the market due to the presence of the large automotive market in the region.
The North American market is expanding significantly due to the presence of
developed nations like Canada and the U.S. The regions are technically
developed and are fast in adopting the latest techniques. The APAC region is
estimated to expand significantly during the forecast period due to the
presence of the fastest growing economies of the world such as India and China.
Key Players
The
major players of the global drive-by-wire market are Continental AG (Germany), Robert Bosch GmbH (Germany), Curtiss Wright Corp. (U.S.), Nissan Motor
Corporation (Japan), T.R.W. Automotive (U.S.), P.S.A Citroen (France), and S.K.F.
Group (Sweden). Apart from these, there are some other key players which are
Hitachi Automotive Systems, Ltd. (Japan), Mobil Elektronik GmbH (Germany),
Denso Corporation (Japan), Curtiss-Wright Corporation (U.S.), Z.F.
Friedrichshafen AG (Germany), and Infineon Group
(Germany).
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