Global Automotive Steer-by-Wire Market is expected to grow at a CAGR of 5.9% throughout the forecast period, to reach US$ 40.12 Bn. by 2029.Global Automotive Steer-by-Wire Market Overview
Steer-by-wire technology uses electronic components for steering a vehicle rather than conventional mechanical and hydraulic steering systems. This steer-by-wire technology utilizes an electric motor to apply steering force over the rack and pinion. It also reduces the vehicle weight & enhances vehicle performance, safety, and reliability by eliminating several mechanical components like steering shaft, column, and gear reduction mechanism. Nissan is among the first automobile manufacturers who introduced SBW systems in its cars. The report covers the detailed analysis of the global automotive Steer-by-wire industry with the classifications of the market based on technology, vehicle type, and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.To know about the Research Methodology :- Request Free Sample Report The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. The manufacturing environment in each region is different and focus is given to the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Global Automotive Steer-by-Wire Market Dynamics
Regulatory bodies across several countries have urged vehicle manufacturers to incorporate electronic power-assisted steering technology due to raised concerns about in-vehicle safety, the need for advanced driver assistance systems, and development & integration of advanced vehicle technologies, which in turn is expected to drive the growth of the global automotive steer-by-wire market. Similarly, factors like safety, reliability, and reduction in vehicle weight to enhance vehicle efficiency are creating demand for automotive steer-by-wire technology globally. The manufacturers like BMW, Mercedes, and Nissan started investing high amounts in the development and adoption of steer-by-wire system technology in their vehicles, which is expected to fuel the automotive steer-by-wire market during the forecast period. The factors like high chances of malfunction as automotive steer-by-wire technology use a computerized system and electronic sensors and occasionally fatal injuries are expected to hinder the growth of the global automotive steer-by-wire market during the forecast period.Global Automotive Steer-by-Wire Market Segmentation Analysis
By Technology, the automotive steer-by-wire market is segmented as backup mechanical and pure electronic technology. The backup mechanical segment held the entire market share in 2019, accounting for 100% of the automotive steer-by-wire market. Where pure electronic technology is expected to hold 18% of the total market share by 2029.By Vehicle Type, the global automotive steer-by-wire market is segmented into passenger vehicles and commercial vehicles. As electric power-assisted steering is expected to become mandatory in passenger cars across several countries the passenger segment is expected to grow during the forecast period. The rise in the average age of vehicles and demand for autonomous technology in cars like hatchback, sedan, SUV/MUV, sports car, and others are driving the growth of passenger vehicles across the world. Similarly, increase in demand for advanced features, rise in the standard of living, increasing purchasing power capacity, rise in per capita income of individuals, increasing industrialization, changing way of life, and high disposable incomes are some of the factors for the growth of the automotive steer-by-wire market globally. The Americas was the leading region for the global automotive steer-by-wire system market in 2019, accounting for a market share of nearly 65% and is expected to share the highest growth of nearly 3% by 2026. Growing urbanization, industrialization, and the strong presence of key vehicle manufacturers in countries such as China, Japan, and South Korea of Asia pacific have led the global automotive steer-by-wire market to hold a significant share during the forecast period. Similarly, the European region has adopted automotive steer-by-wire due to the rise in the automotive sector, new technologies, and their availability at a lower cost by top automobile manufacturers, which in turn is expected to boost the automotive steer-by-wire market in the region during the forecast period.
Global Automotive Steer-by-Wire Market Scope: Inquire before buying
Automotive Steer-by-Wire Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 26.86 Bn. Forecast Period 2023 to 2029 CAGR: 5.9% Market Size in 2029: US $ 40.12 Bn. Segments Covered: by Technology Backup mechanical technology Pure electronic technology by Vehicle Type Commercial vehicles Passenger vehicles Global Automotive Steer-by-Wire Market by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Global Automotive Steer-by-Wire Market Key Players
1. Danfoss 2. JTEKT NORTH AMERICA 3. ZF Friedrichshafen AG 4. LORD Corporation 5. Eaton 6. KYB Corporation 7. NSK Ltd 8. Nexteer Automotive Corporation 9. Ficosa International S.A. 10.Kongsberg Gruppen 11.Robert Bosch GmbH 12.Thyssenkrupp AG 13.Paravan GmbH (Germany) 14.SKF (Sweden) 15.Sona Koyo Steering Systems Ltd Frequently Asked Questions: 1.Which region has the largest share in Global Automotive Steer-by-Wire Market? Ans: Asia Pacific region held the highest share in 2022. 2.What is the growth rate of Global Automotive Steer-by-Wire Market? Ans: The Global Automotive Steer-by-Wire Market is growing at a CAGR of 5.9% during forecasting period 2023-2029. 3.What is scope of the Global Automotive Steer-by-Wire Market report? Ans: Global Automotive Steer-by-Wire Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors& Leaders, and market estimation of the forecast period. 4.Who are the key players in Global Automotive Steer-by-Wire Market? Ans: The important key players in the Global Automotive Steer-by-Wire Market are – Denso Corporation, Hanon Systems, Sanden Holding Corporation, Mitsubishi Heavy Industries Ltd, MAHLE GmbH, Valeo SA, Keihin Corporation, Calsonic Kansei Corporation, SamvardhanaMotherson Group, Subros Limited, SMAC Auto Air, TransAir Manufacturing, Eberspacher Group, Marelli Corporation. 5.What is the study period of this Market? Ans: The Global Automotive Steer-by-Wire Market is studied from 2022 to 2029.
1. Automotive Steer-by-Wire Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Automotive Steer-by-Wire Market: Dynamics 2.1. Automotive Steer-by-Wire Market Trends by Region 2.1.1. North America Automotive Steer-by-Wire Market Trends 2.1.2. Europe Automotive Steer-by-Wire Market Trends 2.1.3. Asia Pacific Automotive Steer-by-Wire Market Trends 2.1.4. Middle East and Africa Automotive Steer-by-Wire Market Trends 2.1.5. South America Automotive Steer-by-Wire Market Trends 2.2. Automotive Steer-by-Wire Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Automotive Steer-by-Wire Market Drivers 2.2.1.2. North America Automotive Steer-by-Wire Market Restraints 2.2.1.3. North America Automotive Steer-by-Wire Market Opportunities 2.2.1.4. North America Automotive Steer-by-Wire Market Challenges 2.2.2. Europe 2.2.2.1. Europe Automotive Steer-by-Wire Market Drivers 2.2.2.2. Europe Automotive Steer-by-Wire Market Restraints 2.2.2.3. Europe Automotive Steer-by-Wire Market Opportunities 2.2.2.4. Europe Automotive Steer-by-Wire Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Automotive Steer-by-Wire Market Drivers 2.2.3.2. Asia Pacific Automotive Steer-by-Wire Market Restraints 2.2.3.3. Asia Pacific Automotive Steer-by-Wire Market Opportunities 2.2.3.4. Asia Pacific Automotive Steer-by-Wire Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Automotive Steer-by-Wire Market Drivers 2.2.4.2. Middle East and Africa Automotive Steer-by-Wire Market Restraints 2.2.4.3. Middle East and Africa Automotive Steer-by-Wire Market Opportunities 2.2.4.4. Middle East and Africa Automotive Steer-by-Wire Market Challenges 2.2.5. South America 2.2.5.1. South America Automotive Steer-by-Wire Market Drivers 2.2.5.2. South America Automotive Steer-by-Wire Market Restraints 2.2.5.3. South America Automotive Steer-by-Wire Market Opportunities 2.2.5.4. South America Automotive Steer-by-Wire Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Automotive Steer-by-Wire Industry 2.8. Analysis of Government Schemes and Initiatives For Automotive Steer-by-Wire Industry 2.9. Automotive Steer-by-Wire Market Trade Analysis 2.10. The Global Pandemic Impact on Automotive Steer-by-Wire Market 3. Automotive Steer-by-Wire Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 3.1.1. Backup mechanical technology 3.1.2. Pure electronic technology 3.2. Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 3.2.1. Commercial vehicles 3.2.2. Passenger vehicles 3.3. Automotive Steer-by-Wire Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Automotive Steer-by-Wire Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 4.1.1. Backup mechanical technology 4.1.2. Pure electronic technology 4.2. North America Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 4.2.1. Commercial vehicles 4.2.2. Passenger vehicles 4.3. North America Automotive Steer-by-Wire Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 4.3.1.1.1. Backup mechanical technology 4.3.1.1.2. Pure electronic technology 4.3.1.2. United States Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 4.3.1.2.1. Commercial vehicles 4.3.1.2.2. Passenger vehicles 4.3.2. Canada 4.3.2.1. Canada Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 4.3.2.1.1. Backup mechanical technology 4.3.2.1.2. Pure electronic technology 4.3.2.2. Canada Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 4.3.2.2.1. Commercial vehicles 4.3.2.2.2. Passenger vehicles 4.3.3. Mexico 4.3.3.1. Mexico Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 4.3.3.1.1. Backup mechanical technology 4.3.3.1.2. Pure electronic technology 4.3.3.2. Mexico Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 4.3.3.2.1. Commercial vehicles 4.3.3.2.2. Passenger vehicles 5. Europe Automotive Steer-by-Wire Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.2. Europe Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3. Europe Automotive Steer-by-Wire Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.1.2. United Kingdom Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.2. France 5.3.2.1. France Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.2.2. France Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.3.2. Germany Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.4.2. Italy Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.5.2. Spain Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.6.2. Sweden Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.7.2. Austria Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 5.3.8.2. Rest of Europe Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6. Asia Pacific Automotive Steer-by-Wire Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.2. Asia Pacific Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3. Asia Pacific Automotive Steer-by-Wire Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.1.2. China Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.2.2. S Korea Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.3.2. Japan Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.4. India 6.3.4.1. India Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.4.2. India Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.5.2. Australia Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.6.2. Indonesia Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.7.2. Malaysia Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.8.2. Vietnam Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.9.2. Taiwan Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 6.3.10.2. Rest of Asia Pacific Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 7. Middle East and Africa Automotive Steer-by-Wire Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 7.2. Middle East and Africa Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 7.3. Middle East and Africa Automotive Steer-by-Wire Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 7.3.1.2. South Africa Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 7.3.2.2. GCC Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 7.3.3.2. Nigeria Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 7.3.4.2. Rest of ME&A Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 8. South America Automotive Steer-by-Wire Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 8.2. South America Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 8.3. South America Automotive Steer-by-Wire Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 8.3.1.2. Brazil Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 8.3.2.2. Argentina Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Automotive Steer-by-Wire Market Size and Forecast, by Technology (2022-2029) 8.3.3.2. Rest Of South America Automotive Steer-by-Wire Market Size and Forecast, by Vehicle Type (2022-2029) 9. Global Automotive Steer-by-Wire Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Automotive Steer-by-Wire Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Danfoss 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. JTEKT NORTH AMERICA 10.3. ZF Friedrichshafen AG 10.4. LORD Corporation 10.5. Eaton 10.6. KYB Corporation 10.7. NSK Ltd 10.8. Nexteer Automotive Corporation 10.9. Ficosa International S.A. 10.10. Kongsberg Gruppen 10.11. Robert Bosch GmbH 10.12. Thyssenkrupp AG 10.13. Paravan GmbH (Germany) 10.14. SKF (Sweden) 10.15. Sona Koyo Steering Systems Ltd 11. Key Findings 12. Industry Recommendations 13. Automotive Steer-by-Wire Market: Research Methodology 14. Terms and Glossary