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X-by-Wire Systems Market 2018-2024 Global Forecast by Key Players - SKF Group, LORD Corporation, Continental, ZF Group, Citroën, Infineon Technologies

11-23-2018 12:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Automotive Industry

X-by-Wire Systems Market 2018-2024 Global Forecast by Key

Europe X-by-wire systems market size is dominating owing to the initial advent of these systems across the region. Asia Pacific is expected to display significant growth rates owing to rising purchasing power of the customer, urge of making the vehicle fuel-efficient, better living standards, and preference for enhanced privacy measures. Emerging countries that include Mexico, Brazil, and India are projected to register exponential growth rates owing to the increasing need for these technologies by automakers.

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Next-generation vehicles utilize the technologies, which include CAN (Controller Area Network) and LIN (Local Interconnect Network) for transmitting and receiving the vehicle diagnostic information. X-by-wire systems require privacy-centric data bus with higher bandwidth and inherent tolerance for any defects. Architectures, such as FlexRay and Time-Triggered Protocol (TTP), are increasingly adopted by automakers, which present potential growth avenues over the forecast timeframe. TTP ensures proper transmission of important messages on the data bus, increasing the importance of these technologies. The integration of next-generation semiconductors and the intelligence transferred on data buses will provide a significant development platform for X-by-wire systems market participants over the coming years.

By system, the industry is segmented into brake-by-wire, park-by-wire, steer-by-wire, shift-by-wire, suspension-by-wire, and throttle-by-wire. Shift-by-wire system is expected to witness significant gains over the forecast timeline owing to its increasing applications in gear shifting, which transmits signals to change the gear. Throttle-by-wire segment is also expected to hold a significant market share owing to its applications in vehicles to adjust the valve settings by utilizing the throttle pedal position sensors.

The industry is characterized by the ongoing R&D and related component developments for better consumer satisfaction. The requirement of heavy investments for such activities will present a considerable challenge to the X-by-wire market players. Lack of concern for fuel-effectiveness in various emerging economies and ineffective fuel-efficiency standards in developed countries will challenge the industry growth through 2024.

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The utilization of these technologies makes the vehicle lighter by reducing the overall weight of mechanical components, boosting the overall efficiency and reducing emissions. Moreover, the usage of motors, actuators, and sensors helps the driver to provide a precise, quick, and accurate response, which will enhance the overall vehicle performance. These factors will favor the X-by-wire systems market share over the forecast timeframe.

Rising concerns regarding emission levels and fuel economy will draw huge investments among automotive industry participants. Increasing regulatory amendments to reduce environmental impacts will positively influence the overall X-by-wire systems market growth from 2016 to 2024. The technology is used in electro-mechanical systems, which includes human-machine interfaces such as pedals and steering fuel emulators.

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Industry participants in the X-by-wire systems market are SKF group, LORD Corporation, Danaher Motion, RLP Engineering, Continental AG, ZF TRW, TORC Technologies, Curtis Wright Corp., Citroen and Infineon Technologies. Rising demands for hybrid vehicles will present considerable growth opportunities for manufacturers owing to its lightness and advanced application characteristics.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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