According to the report by IMARC Group, “Global X-by-Wire Systems Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global X-by-wire systems market reached a value of US$ 18.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.21 Billion by 2027, exhibiting a CAGR of 6.70% during 2022-2027.
X-by-wire systems are the replacement of hydraulic or mechanical systems with electronic control systems. They are equipped with electronically assisted control mechanisms that help in eliminating the mechanical linkages involved in the system. Some of the commonly available types of x-by-wire systems include steer-by-wire, brake-by-wire, shift-by-wire, park-by-wire, throttle-by-wire, etc. They aid in removing the use of traditional components, such as hoses, pumps, intermediate shafts, vacuum servos, master cylinders, steering columns, belts, etc. In addition to this, x-by-wire systems also minimize the overall weight of the vehicles and emission levels, increase fuel efficiency and safety, improve the response time, etc.
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COVID-19 Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
X-by-Wire Systems Market Trends and Drivers:
The escalating demand for electric vehicles (EVs) is primarily driving the x-by-wire systems market. Additionally, various autonomous car manufacturers are introducing electronic control units and sensors, which is further catalyzing the market growth. Besides this, the widespread adoption of X-by-Wire systems, on account of the inflating need for lightweight vehicles with enhanced efficiency, is acting as another significant growth-inducing factor.
Moreover, the launch of several favorable policies by government bodies across the countries to lower the carbon footprint and the expanding automotive industry are positively influencing the global market. Apart from this, numerous technological advancements, such as the development of the modular valve and lithium-ion capacitor that elevates the intelligence by enabling tailor steering performance, are anticipated to fuel the x-by-wire systems market over the forecasted period.
Global X-by-Wire Systems Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
- AB SKF
- Continental AG
- Curtiss-Wright Corporation
- Infineon Technologies AG
- JTEKT Corporation
- ME Mobil Elektronik GmbH
- Nexteer Automotive
- Orscheln Products L.L.C
- Parker Hannifin Corporation
- Robert Bosch GmbH
- Tata Motors Limited
- Volkswagen AG
- ZF Friedrichshafen AG.
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The report has segmented the market on the basis of region, type and vehicle type.
Breakup by Type:
- Throttle-by-Wire System
- Brake-by-Wire System
- Steer-by-Wire System
- Park-by-Wire System
- Shift-by-Wire System
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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