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Drive by Wire Market to Reach USD 4.27 Billion by 2027; Increasing Adoption of Autonomous Vehicles Worldwide to Aid Growth

September 25, 2020 | Automotive & Transportation

The global drive-by-wire market size is projected to reach USD 4.27 billion by 2027. The ever-increasing adoption of autonomous vehicles worldwide owing to their ability to lower vehicular emissions and provide enhanced passenger safety is set to affect growth positively. Fortune Business Insights™ published this information in a new report, titled, “Drive by Wire Market Size, Share & COVID-19 Impact Analysis, By Application Type (Throttle by Wire, Steer by Wire, Shift by Wire, Brake by Wire and Park by Wire), By Component Type (Electronic Control Unit, Actuator, Electronic Throttle Control Module, Electronic Transmission Control Unit), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027.” The report further states that the market stood at USD 4.99 billion in 2019. But, it would exhibit a CAGR of 5.0% during the forecast period between 2020 to 2027.


Bosch Introduces eCityTruck Powertrain for a Wide Range of Delivery Vehicles


In August 2018, Bosch, a multinational engineering and technology company based in Germany unveiled its latest electric powertrain. It is best suited for a wide range of delivery vehicles that are targeted at last-mile deliveries to final recipients from distribution centers. A single-charge of an electrified powertrain will be sufficient to cover a full day of operation.


The new product is called the eCityTruck powertrain. They will be available in two versions. Both solutions can be scaled for light commercial vehicles. The company has taken numerous components, such as power electronics and electric motors. It has blended them within a single module. Thus, the products would reduce cost, surge efficiency, and economize on parts.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/drive-by-wire-market-103673


Increasing Government Laws to Curb Emission will Favor Growth


The governments and regulatory authorities of several countries are imposing strict norms and regulations on automotive manufacturers to curb emission. These rules are compelling the manufacturers to surge the utilization of lightweight materials, namely, metals, plastics, and composite materials. The usage of lightweight electronic components is aiding to reduce the consumption of fuel. This is set to boost the drive by wire market growth in the coming year.


However, the COVID-19 pandemic is affecting the automotive industry severely. Owing to the reduction in workforce and complete lockdown measures in many countries, there is a decline in the rates of production & sales of vehicles. This factor may hinder the demand for drive by wire systems across the globe.


Acquisitions & New Product Launches — Important Strategies of Key Companies


Robert Bosch GmbH is considered to be one of the leading companies in this market. The company is constantly striving to maintain its position by developing a broad range of novel technologies, such as sensors, electronic power steering, and electric fuel pump. Some of the other organizations are engaging in strategies, such as launch of innovative drive by wire and acquisitions.  


Fortune Business Insights™ lists out the names of all reputed drive by wire systems manufacturers operating in the global market. They are as follows:



  • Curtiss Wright Corp.  (North Carolina, United States)

  • TRW Automotive (Michigan, United States)

  • Nissan Motor Corporation (Yokohama, Japan)

  • Robert Bosch GmbH (Gerlingen, Germany)

  • Continental AG (Hanover, Germany)

  • P.S.A Citroen (Rueil-Malmaison, France)

  • SKF Group (Gothenburg, Sweden)

  • Denso Corporation (Aichi, japan)

  • ZF Friedrichshafen AG (Friedrichshafen, Germany)

  • Peugeot (Paris, France)


A Notable Industry Development-



  • August 2018: Schaeffler, a manufacturer of rolling element bearings for industrial, aerospace, and automotive uses headquartered in Germany, acquired Space Drive, the drive-by-wire technology from Paravan. The technology would help people with disabilities to steer and stop their vehicles by electronic means. It also removes the requirements of steering column or steering wheel.  


Further Report Findings-



  • In 2019, Europe earned USD 2.06 billion in terms of revenue. This growth is attributable to the stringent emission norms imposed by the government in the region. It is expected to dominate the market throughout the forthcoming years.

  • Asia Pacific is likely to be the fastest-growing region in the coming years backed by the rising shift of the consumers towards fuel-efficient vehicles. They are also looking for vehicles equipped with enhanced safety features.

  • Based on application type, the shift-by-wire segment is set to lead in the near future by generating the largest drive-by-wire market share as it provides an effortless shifting of gears.

  • The brake-by-wire segment, on the other hand, would remain in the second position because of its ability to lower the stopping time of the vehicle.


The global market is segmented in the following way:











































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion) & Volume (thousand units)



Segmentation



By Application Type



  • Throttle-by-wire

  • Steer-by-wire

  • Shift-by-wire

  • Brake-by-wire

  • Park-by-wire



By Component Type



  • Electronic control unit

  • Actuator

  • Electronic throttle control module

  • Electronic transmission control unit



By Vehicle Type



  • Passenger Cars

  • Commercial Vehicles



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France and Rest of Europe)

  • Asia-Pacific (Japan, China, India, South Korea and Rest of Asia- Pacific)

  • Rest of the World


Global Drive by Wire Market
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  • 2019
  • 2016-2018
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