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The global X-by-wire systems market reached a value of US$ 18.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.21 Billion by 2027, exhibiting a CAGR of 6.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
X-by-wire systems refer to the replacement of mechanical or hydraulic systems with electronic control systems. Brake-by-wire, steer-by-wire, shift-by-wire, park-by-wire, and throttle-by-wire are some of the commonly used types of X-by-wire systems. These systems are equipped with electronically assisted control mechanisms that aid in eliminating the mechanical linkages involved in the system. X-by-wire systems assist in eliminating the use of various traditional components, such as intermediate shafts, hoses, pumps, vacuum servos, master cylinders, steering columns, and belts. These systems aid in reducing the overall weight of the vehicles and emission levels, increasing fuel efficiency and safety, and improving the response time. The X-by-wire systems replace the conventional mechanical control systems by using human-machine interfaces and electromechanical actuators.
The increasing demand for electric vehicles (EVs) across the globe is one of the key factors driving the growth of the market. EVs are widely adopted due to numerous advantages, such as reduced emissions and fuel consumption. In line with this, various autonomous car manufacturers are introducing electronic control units and sensors, which is positively impacting the market growth. Moreover, various technological advancements, such as the introduction of the lithium-ion capacitor and modular valve that increases the intelligence by enabling tailor steering performance, are significantly providing an impetus to the market growth. Additionally, the rapid adoption of X-by-Wire systems on account of the rising demand for lightweight vehicles with improved efficiency is favoring the market growth. Other factors, such as the significant expansion in the automotive industry, increasing disposable income levels of the masses, and implementation of various government initiatives on lowering the carbon footprint, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global X-by-wire systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and vehicle type.
Breakup by Type:
Breakup by Vehicle Type:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AB SKF, Continental AG, Curtiss-Wright Corporation, Infineon Technologies AG, JTEKT Corporation, ME Mobil Elektronik GmbH, Nexteer Automotive, Orscheln Products L.L.C, Parker Hannifin Corporation, Robert Bosch GmbH, Tata Motors Limited, Volkswagen AG and ZF Friedrichshafen AG.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Vehicle Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||AB SKF, Continental AG, Curtiss-Wright Corporation, Infineon Technologies AG, JTEKT Corporation, ME Mobil Elektronik GmbH, Nexteer Automotive, Orscheln Products L.L.C, Parker Hannifin Corporation, Robert Bosch GmbH, Tata Motors Limited, Volkswagen AG and ZF Friedrichshafen AG.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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