New York, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drive By Wire Market by Application, Sensor ,Vehicle ,Component & Region - Global Forecast to 2025" - https://www.reportlinker.com/p05589886/?utm_source=GNW
However, the major factor restraining the growth of the drive by wire market is the high incremental cost, risk of failure in electronics, and lack of public acceptance.
Parking pawl is expected to remain the fastest market in drive by wire component market
Parking pawl is gaining popularity due to the advanced technical benefits offered by the application.It is installed in the automatic transmission system of the vehicle for locking the transmission to park a vehicle.
Parking pawl is mainly used in automatic transmissions and offers reduced traction energy losses and better traction control.Therefore,as automatic transmissions adoption in vehicles is growing rapidly, parking pawl is expected to gain huge popularity.
North America is the leading market for parking pawls. Since the majority of the cars in North America are equipped with drive by wire systems, penetration of parking pawl is already high.
The COVID-19 outbreak has disrupted the whole automotive supply chain on a global scale in the first 6–7 months of 2020.The pandemic has presented an uncertain recovery timeline for the automotive industry due to lockdown implementation and shutdown of manufacturing facilities in various parts of the world.
The automotive industry is facing four major challenges amid COVID-19—limited supply of vehicle parts, drop in new vehicle sales, the shutdown of production facilities, and decline in working capital. As the drive by wire market is dependent on vehicle production, this market is expected to be impacted due to this outbreak.
Agriculture Tractor expected to remain the largest in off-highway vehicle type market
Agriculture tractor manufacturers are constantly innovating and looking to go one step further with their technological advancements.An integral design change to achieve these innovations is switching from a mechanical system to a drive by wire system.
Major tractor manufacturers working toward autonomous drive by wire systems are AGCO, John Deere, and New Holland.Most importantly, the development of autonomous tractors and intelligent technologies provides a good growth avenue for the drive by wire market.
Autonomous tractors are advanced and fully equipped with drive by wire applications to offer more autonomy for precision agriculture. The increasing developments toward self-driven or autonomous tractors will drive the demand for drive by wire systems.
Asia Pacific is expected to register the fastest growth during the forecast period.
Asia Pacific is estimated to dominate the drive by wire market during the forecast period.Customers in the Asia Pacific region are increasingly demanding advanced technologies such as automatic and automated manual transmission in mid-size and economy class vehicles.
Advanced drive by wire technologies such as shift-by-wire, park-by-wire, and throttle-by-wire are thus deployed in these vehicle classes.As Asian countries plan to standardize emission norms and use an increasing number of EVs in the future, drive by wire systems are likely to gain traction.
Also, considering the growing sales of electric vehicles, particularly in China, the drive by wire market is expected to witness a significant growth.
In-depth interviews were conducted from supply-side (drive by wire manufacturers) and demand side and other stakeholders ( OEMs, vehicle architects and industry experts ) across major regions, namely, North America, Europe, Asia Oceania.
• By Stakeholder: Supply-side- 80% and demand side and other stakeholders- 20%
• By Designation: C Level - 10%, Directors/Vice Presidents Level - 30%, and Others - 60%
• By Region: Asia Pacific- 60%, Europe - 20%, North America - 20%
Note: Supply-side companies are component manufacturers, and demand-side are OEMs, vehicle architects and industry experts.
*Other designations include sales, marketing, and product managers
The drive by wire market is dominated by globally established players such as Bosch (Germany), Continental (Germany), ZF (Germany), Infineon (Germany), Nexteer (US), CTS (US), Ficosa (Spain), Kongsberg (Switzerland), Hitachi Automotive (Japan), and Curtiss-Wright (US).
Research Coverage:
The drive by wire market has been segmented on the basis of application (throttle-by-wire, steer-by-wire, shift-by-wire, brake-by-wire, and park-by-wire), sensor type (throttle pedal sensor, throttle position sensor, pinion angle sensor, hand wheel angle sensor, gear shift position sensor, park sensor, and brake pedal sensor), component (ECU—Electronic Control Unit, ECM—Engine Control Module, actuator, feedback motor, parking pawl, ETCM—Electronic Throttle Control Module, and ETCU—Electronic Transmission Control Unit), on highway vehicle (passenger car, light commercial vehicles, buses, and trucks), off-highway vehicle (construction & mining equipment, agriculture tractors, forklifts), electric & hybrid vehicle (BEV, PHEV and FCEV), autonomous vehicles in terms of application (throttle-by-wire, steer-by-wire, shift-by-wire, brake-by-wire, and park-by-wire), and region (Asia Pacific, Europe, North America, and RoW).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the drive by wire market and the sub-segments.This will also help the key players to identify the highest potential region and design its product portfolio as per the market requirements.
A detailed study on upcoming technologies such as autonomous vehicles, drive by wire application is expected to help drive by wire manufacturers to understand the potential market for them.This report also include various analysis like supply chain, average selling price trends, market ecosystem.
This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05589886/?utm_source=GNW
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The drive by wire market is projected to reach USD 31.9 billion by 2025 from an estimated USD 24.0 billion in 2020 at a CAGR of 5.9% - GlobeNewswire
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