Global Automotive Steer-by-Wire System Market Research Report: Information by Component (Feedback Motor, Angular Sensor, Steering Actuator), Propulsion (ICE, Electric), Vehicle (Passenger, Light Commercial, Heavy Commercial), Region – Forecast Till 2023
An automotive steer-by-wire system provides total steering control to the driver by eliminating the mechanical connection between the vehicle's steering wheel and steering system. It offers the advantages of improved refinement and barring of vibrations from being transmitted to the steering wheel from the road. The global automotive steer-by-wire system market is perceived to post an impressive CAGR of 14% and reach high growth revenue over the forecast period of 2018-2023, asserts Market Research Future (MRFR) in a detailed study.
Heightened demand for better steering functionality and increased concerns about vehicle noise due to steering mechanical components enhance the growth of the global steer by wire system market. The technology was first brought to the market in 2014 by Nissan luxury brand Infiniti in the model Q50. Even the technology failed initially; it has garnered many accolades recently after improvements in the steering responsiveness and change in turning radius. The technology has already proved its mettle in the market, and various automakers such as Nissan, BMW, General Motors, and Mercedes are investing heavily in the technology. The technology has found adoption in different high-end cars which have boosted the growth of the market. The rise in sales of vehicles, especially luxury cars across the globe has further accelerated the growth of the global automotive steer by wire system market. Conversely, the growth of the market might be met with few bottlenecks. Being in its initial phase, technology development remains a major hurdle to the growth of the market. Moreover, the incorporation of the steer by wire system in non-luxury vehicles is limited since it raises the cost of the vehicle.
Segmentation
The global automotive steer by wire system market has been segmented based on component, propulsion type, and vehicle type.
By component, the global automotive steer by wire market has been segmented into feedback motors, angular sensors, steering actuators, and others.
By propulsion type, the global automotive steer by wire market has been segmented into ICE and electric.
By vehicle type, the global automotive steer by wire system market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle.
Regional Analysis
Geographically, the global automotive steer by wire system market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Europe is the largest market for automotive steer by wire system market and is likely to maintain its dominance over the forecast period. The presence of various automotive manufacturers in the region in countries such as the UK, Germany, Russia, Sweden, Belgium, and Italy can be credited for the growth of the Europe market. The sale of luxury cars in the region is also considerably high which generates high demand for automotive steer by wire system. Also, the automobile manufacturers in the region are highly inclined towards the latest technologies which are a contributing factor.
North America automotive steer by wire system market is driven by high sales of premium range cars and strict regulations regarding vehicular emission. There is high awareness in the region regarding new automotive technologies which spur the demand for automotive components such as steer by wire system.
APAC is poised to showcase remarkable growth and generate the highest CAGR over the forecast period. The flourishing automotive industry, growing sales of luxury cars purveyed by rising disposable income and growing awareness augur the growth of the APAC automotive steer by wire system market.
Competitive Landscape
The notable players in the global automotive steer-by-wire system market include ThyssenKrupp AG (Germany), JTEKT Corporation (Japan), Danfoss Power Solutions, Inc. (the US), ZF Friedrichshafen AG (Germany), Paravan GmbH (Germany), Eaton Corporation (Republic of Ireland), LORD Corporation (US), Nexteer Automotive (US), Nissan Motor Company Ltd (Japan), and SKF (Sweden).
Industry Updates
- In August 2018, Schaeffler, a German automotive supplier announced the acquisition of drive-by-wire technology Space Drive from Paravan GmbH. The amount of the transaction has not been disclosed and is pending regulatory approval.
- In March 2018, Nexteer Automotive introduced a suite of advanced steering technology at the North American International Auto Show in Detroit.
Get FREE Sample Report Before Buying @ https://www.upmarketresearch.com/home/requested_sample/1912 UpMarketResearch offers a latest published report on “Global Automotive Steer-by-Wire (SBW) System Market Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report.
Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The statistics are represented in graphical format for a clear understanding on facts and figures.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Region-wise Analysis Global Automotive Steer-by-Wire (SBW) System Market covers:North AmericaEuropeChinaJapanIndiaSoutheast AsiaOther regions (Central & South America, Middle East & Africa) For More Information, Please Visit https://www.upmarketresearch.com/home/enquiry_before_buying/1912 The Report covers in-depth analysis as follows:Chapter 1 Automotive Steer-by-Wire (SBW) System Market OverviewChapter 2 Global Economic Impact on Automotive Steer-by-Wire (SBW) System IndustryChapter 3 Global Automotive Steer-by-Wire (SBW) System Market Competition by ManufacturersChapter 4 Global Automotive Steer-by-Wire (SBW) System Production, Revenue (Value) by Region (2013-2018)Chapter 5 Global Automotive Steer-by-Wire (SBW) System Supply (Production), Consumption, Export, Import by Regions (2013-2018)Chapter 6 Global Automotive Steer-by-Wire (SBW) System Production, Revenue (Value), Price Trend by TypeChapter 7 Global Automotive Steer-by-Wire (SBW) System Market Analysis by ApplicationChapter 8 Global Automotive Steer-by-Wire (SBW) System Manufacturers AnalysisChapter 9 Automotive Steer-by-Wire (SBW) System Manufacturing Cost AnalysisChapter 10 Industrial Chain, Sourcing Strategy and Downstream BuyersChapter 11 Marketing Strategy Analysis, Distributors/TradersChapter 12 Market Effect Factors AnalysisChapter 13 Global Automotive Steer-by-Wire (SBW) System Market Forecast (2018-2023)Chapter 14 Appendix Buy Automotive Steer-by-Wire (SBW) System Market analysis & forecast 2018-2023 Report along with complete TOC @ https://www.upmarketresearch.com/buy/Global-Automotive-Steer-by-Wire-SBW-System-Industry-Market-Analysis-Forecast-2018-2023 “Automotive Steer-by-Wire (SBW) System Market Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
Scope of the ReportThis study provides an overview of the global automotive steer-by-wire system market, tracking three market segments across four geographic regions.
The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World.
The report also provides a forecast, focusing on market opportunities for the next five years for each region.
The scope of the study segments the global automotive steer-by-wire system market by component, propulsion type, vehicle type, and region.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/6389 Market HighlightsThe automotive steer-by-wire system is considered to be different from the electric power steering system.
After improvement in the steering responsiveness and change in turning radius, the technology put a mark in the global market.
The presence of automobile manufacturers in Germany, the UK, Italy, Belgium, Sweden, and Russia is expected to drive the growth of the automotive steer-by-wire systems market in Europe as these regions have a continuous demand for steer-by-wire systems in vehicles to raise the comfort level.
About Automotive Steer-by-wire SystemAutomotive steer-by-wire system (SBW) is a system which uses all-electric means for steering and eliminates the use of mechanical and hydraulic components, such as steering column, shaft, and gear reduction mechanism.
In short, the steer-by-wire system eliminates the use of conventional steering system with electronic components, such as sensors and control modules.Radiant Insights analysts forecast the global automotive steer-by-wire system market to grow at a CAGR of 8.22% during the period 2018-2022.Covered in this reportThe report covers the present scenario and the growth prospects of the global automotive steer-by-wire system market for 2018-2022.
To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:AmericasAPACEMEATo Request A Sample Copy Of This Report at: https://www.radiantinsights.com/research/global-automotive-steer-by-wire-system-market-2018-2022/request-sampleRadiant Insights report, Global Automotive Steer-by-wire System Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.Key vendorsBoschJTEKT CorporationNexteer AutomotiveNissanthyssenkruppMarket driverBenefits of SBW systemFor a full, detailed list, view our reportMarket challengeSystem reliability issues and acceptance level among consumersFor a full, detailed list, view our reportMarket trendGrowing implementation of advanced steering systemsFor a full, detailed list, view our reportKey questions answered in this reportWhat will the market size be in 2022 and what will the growth rate be?What are the key market trends?What is driving this market?What are the challenges to market growth?Who are the key vendors in this market space?To Browse Full Research Report @: https://www.radiantinsights.com/research/global-automotive-steer-by-wire-system-market-2018-2022About Radiant Insights:Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
The latest report published on Up Market Research, on Vehicle Steer-by-wire System Market Analysis offers comprehensive analysis, delivering detailed market data and penetrating insights.
The Global Vehicle Steer-by-wire System Market is projected to grow at a healthy growth rate from 2018 to 2023 according to new research.
The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies.Vehicle Steer-by-wire System Market Analysis Report provides an overview of the various factors enabling growth in the market.
It also presents insights into various restraints that pose threat and highlights opportunities that will help the market pick pace in the forthcoming years.
The report compiles exhaustive information obtained via proven research methodologies and from trusted sources from within the industries.
It also includes expert opinions to provide readers a clearer perspective regarding the global market.
