The automotive steer-by-wire system (SbW) market is anticipated to gain momentum from the strict emission rules imposed by the governments of various countries on the automakers to make the vehicles fuel-efficient. Owing to this, several automobile manufacturers worldwide are downsizing vehicles by adopting novel technologies.
This information is published in an upcoming report by Fortune Business Insights™, titled, “Automotive Steer-by-Wire System (SbW) Market Size, Share & Industry Analysis, By Vehicle Type (Passenger cars, Light Commercial Vehicles, High Commercial Vehicles), By Component Type (Steering Actuator, Feedback Motor, Angular Sensors), By Drive Type (ICE, Electric) and Regional Forecast, 2019-2026.”
Browse Report Summary:
Fortune Business Insights™ lists out all the reputed organizations present in the automotive steer-by-wire system (SbW) market. They are as follows:
- ZF Friedrichshafen AG
- Nexteer Automotive Group Limited
- Robert Bosch GmbH
- Other key market players
The report further mentions that the SbW system offers improved maneuverability with a variable steering ratio for the broad range of handwheels and road wheels. Thus, the rising demand for driving comfort and superior ride from the consumers is expected to boost the automotive steer-by-wire system market growth in the coming years.
What Does the Report Contain?
- Extensive analysis of the SbW market trends, opportunities, challenges, growth drivers, and hindrances.
- Thorough evaluation of the competitive landscape, namely, new product launches, strategic partnerships, contracts, agreements, and mergers and acquisitions.
- Elaborate information about the factors that would challenge the companies operating in the market.
- List of all the possible segments, including the niche areas.
Passenger Car Segment to Lead Backed by High Demand for Fuel-efficient Vehicles
On the bases of vehicle type, the market is categorized into heavy commercial vehicles, light commercial vehicles, and passenger cars. Amongst them, the passenger cars segment is anticipated to lead the market in the forthcoming years on account of the rising demand for fuel-efficient vehicles and increasing sales of passenger cars. Besides, the light commercial vehicle segment would also showcase a steady growth in the near future.
Europe Set to Dominate: Rising Adoption of Unique Technologies Will Favor Growth
In terms of geography, the market is grouped into Europe, North America, Asia Pacific, and the rest of the world. Out of these regions, Europe is expected to dominate in terms of SbW market revenue during the forthcoming period. This growth is attributable to the rising adoption of state-of-the-art technologies in this region. Apart from that, the rising awareness regarding the availability of advanced technologies amongst the consumers would also contribute to the growth of the market in this region.
Asia Pacific, on the other hand, is projected to showcase significant growth stoked by the rising demand for luxury vehicles. It is likely to occur because of the increasing disposable income of the masses belonging to this region. North America would also exhibit considerable growth attributable to the increasing demand for fuel-efficient vehicles in this region.
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Danfoss Launches Joystick-operated Combine; Nexteer Unveils Digital Trace Manufacturing
The market houses numerous big, small, and medium enterprises that are currently focusing on joint ventures and new product launches to gain maximum SbW market share. Below are two of the latest key industry developments:
- November 2019: Danfoss Power Solutions, a provider of mobile hydraulics, placed operator experience at the foreground of agricultural machine design. The Fendt Ideal Drive solution was created in a close partnership with AGCO. It has recently received a DLG Innovation Award. Additionally, the solution comprises of Danfoss’ latest EHD electrohydraulic steering valve and JS1-SbW joystick. The control architecture between the valve and the joystick is robust and provides added flexibility and safety.
- January 2018: Nexteer Automotive, an automotive parts supplier based in the U.S., unveiled its new integrative, holistic, and advanced approach to manufacture and design systems. It is called Digital Trace manufacturing. It uses the latest data analytics and technologies within a common architecture. It would help in providing premium-quality product performance and enhance global capacity optimization and value across all of the company’s locations across the globe. Nexteer exhibited its bestselling process automation systems at the 2018 North American International Auto Show in Detroit. With it, the consumers would be able to experience how Digital Trace manufacturing consolidates workstation optimization to refine processes.
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Author’s Bio –
Name: Reeti Banerjee
Reeti Banerjee is currently working as a content writer in a prominent market research firm named Fortune Business Insights™. She specializes in writing articles, press releases, blogs, and news reports. She believes in maintaining simplicity throughout her content to provide the clients with a seamless reading experience.