Pune, Sept. 28, 2020 (GLOBE NEWSWIRE) -- The global drive by wire market is anticipated to gain traction from the emergence of hybrid electric vehicles. Hence, several original equipment manufacturers (OEMs) are trying to develop novel electrification processes to improve the vehicle’s efficiency. This information is provided by Fortune Business Insights™ in a new study, titled, “Drive by Wire Market Size, Share & COVID-19 Impact Analysis, By Application Type (Throttle by Wire, Steer by Wire, Shift by Wire, Brake by Wire and Park by Wire), By Component Type (Electronic Control Unit, Actuator, Electronic Throttle Control Module, Electronic Transmission Control Unit), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027.” The study further mentions that the market size was USD 4.99 billion in 2019 and is projected to reach USD 4.27 billion by 2027, exhibiting a CAGR of 5.0% during the forecast period.
COVID-19 is Severely Affecting Automotive Industry Worldwide
The automobile industry is severely affected because of the COVID-19 pandemic. Owing to the complete lockdown measures, various manufacturers have shut down their facilities. This is further causing a decline in the production of vehicles. Besides, people are nowadays focusing more on spending on essential goods rather than purchasing luxury products. Hence, the demand for drive by wire (DbW) is likely to reduce in 2020. We are providing extensive analysis of every aspect of the market. Our analysts have handpicked the best strategies for you to implement for generating more sales.
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Highlights of This Report:
- Extensive analysis of various company profiles.
- Elaborate details about the strategies adopted by key players.
- The estimated, present, and historical sizes of the global market.
- In-depth information about the regions and segments in the market.
Drivers & Restraints
Increasing Demand for Autonomous Vehicles to Aid Growth
The rising adoption of autonomous vehicles globally is set to boost the drive-by-wire market growth in the coming years. These vehicles are driverless, reduce vehicular emissions, and deliver enhanced passenger safety. They are also equipped with drive by wire systems, RADAR, cameras, LiDAR, and GPS. These sensors not only help the drivers to avoid obstacles, but also lower the chance of road accidents. However, drive-by-wire technology involves high installation, designing, and manufacturing costs. This factor may hinder growth.
Segment
Shift-by-Wire Segment to Lead Owing to High Demand for Effortless Shifting of Gears
Based on application type, the shift-by-wire segment is expected to dominate in the near future by earning the largest drive by wire market share. This growth is attributable to their ability to provide an effortless shifting of gears by utilizing a push button.
Regional Analysis
Europe to Dominate: Stringent Emission Norms by Governments will Accelerate Growth
Regionally, in 2019, Europe procured USD 2.06 billion in terms of revenue. The region is likely to lead in the coming years backed by the presence of prominent companies in the region. Also, the implementation of stringent emission norms by the governments, as well as the adoption of innovative technologies would propel growth in this region.
Asia Pacific, on the other hand, is estimated to be the fastest-growing region because of the rising shift of the consumers towards fuel-efficient vehicles equipped with improved safety features. The rising investments in research & development activities would bolster the demand for these systems in North America.
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Competitive Landscape
Key Players Focus on Delivering Their In-house Products to Reputed Organizations
The market for drive-by-wire consists of multiple companies that are persistently striving to bag new orders for their in-house products from the other renowned firms. Some of the others are trying to design supercars in innovative ways.
List of the Leading Companies Profiled in the Global Drive by Wire Market are:
- Curtiss Wright Corp. (North Carolina, United States)
- TRW Automotive (Michigan, United States)
- Nissan Motor Corporation (Yokohama, Japan)
- Robert Bosch GmbH (Gerlingen, Germany)
- Continental AG (Hanover, Germany)
- P.S.A Citroen (Rueil-Malmaison, France)
- SKF Group (Gothenburg, Sweden)
- Denso Corporation (Aichi, japan)
- ZF Friedrichshafen AG (Friedrichshafen, Germany)
- Peugeot (Paris, France)
Below are two vital industry developments:
September 2020: The Gen3 supercar will consist of a drive-by-wire throttle system instead of the conventional cable system. Currently, it is not being used by any of the teams for this season.
February 2020: Summit Racing is providing drive by wire throttle bodies to Granatelli Motor Sports. They are specifically designed for surging airflow across the engine’s revolutions per minute (RPM) range for more acceleration and horsepower.
Browse Detailed Summary of Research Report With TOC:
https://www.fortunebusinessinsights.com/drive-by-wire-market-103673
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Drive by Wire Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Market Analysis, Insights and Forecast – By Application Type
- Throttle by Wire
- Steer by Wire
- Shift by Wire
- Brake by Wire
- Park by Wire
- Road Sign Assistance
- Intelligent Headlight
- Others
- Market Analysis, Insights and Forecast – By Component Type
- Electronic Control Unit
- Actuator
- Electronic Throttle Control
- Electronic Transmission Control Unit
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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