Global X-by-Wire Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
X-by-Wire Market Overview
"The global X-by-wire Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
X-by-wire is also referred to as drive-by-wire or steer-by-wire technology in the automotive industry. X-by-wire technology is the use of electrical or electro-mechanical systems for performing vehicle functions traditionally achieved by mechanical linkages.
Components such as the steering column, intermediate shafts, pumps, hoses, belts, coolers and vacuum servos, and master cylinders are eliminated from the vehicle and replaced with electronic systems. This is similar to the fly-by-wire systems used widely in the aviation industry.
Growing demand for fuel-efficient and lightweight vehicles are key factors driving the growth of the global x-by-wire market. In addition, prominent automotive vehicle manufacturers focusing on the adoption of advanced technologies in vehicles and reducing overall vehicle emissions are other major factors anticipated to boost the growth of the global x-by-wire market over the forecast period.
Moreover, increasing the adoption of these technologies in other vehicles such as forklifts, harvesters, and vehicles used for construction and mining is another factor projected to propel the growth of the global market to a significant extent.
However, high costs associated with the wide adoption of x-by-wire technologies are a major factor restraining the growth of the global x-by-wire market. Additionally, high energy requirements for x-by-wire technologies to function properly and issues related to using of electro-mechanical systems in vehicles are other factors expected to hamper the growth of the global x-by-wire market over the forecast period.
Currently, the market in North America dominates the global x-by-wire market in revenue terms owing to the presence of prominent players in the market and the high adoption of x-by-wire technologies in vehicles in the region.
The market in Europe accounted for the second-highest revenue share in the global x-by-wire market, due to high disposable income and increasing adoption of x-by-wire technologies, followed by markets in the Asia Pacific and Latin America respectively.
The market in the Asia Pacific is projected to witness significant growth in terms of revenue, owing to the growing demand for fuel-efficient and lower emission vehicles and increasing disposable income among individuals in emerging economies such as China and India.
Global x-by-wire market segmentation:
By vehicle type:
- Passenger Vehicles
- Commercial Vehicles
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Continental AG
- Kongsberg Automotive
- Curtiss-Wright Corporation
- ZF Friedrichshafen AG
- Nissan Motor Co., Ltd.
- Robert Bosch GmbH
- SKF AB
- Denso Corporation
- Ficosa International SA
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