Steer-by-Wire System Market to Incur Considerable Upsurge During 2027 - Danfoss, Eaton, Nexteer Automotive, Nissan Motor, Robert Bosch GmbH, SKF, thyssenkrupp AG and ZF Friedrichshafen AG
The steer-by-wire system enables complete steering control to the driver by eliminating any mechanical linkages. The current market landscape for the steer-by-wire system is supported by technological advancements in the automotive industry and enhancements in the driving dynamics. The increasing purchasing power of the population is likely to play a significant role in the robust growth of the steer-by-wire system market in the Asia Pacific region during the forecast period.
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Top Leading Market Players:
2. Eaton Corporation
3. Hitachi Automotive Systems Americas, Inc.
4. Nexteer Automotive Corporation
5. Nissan Motor Corporation
6. PARAVAN GmbH (Adolf Würth GmbH and Co. KG)
7. Robert Bosch GmbH
9. thyssenkrupp AG
10. ZF Friedrichshafen AG
The steer-by-wire system market is anticipated to grow in the forecast period owing to driving factors such as easy integration and independence of design coupled with the growing demand for better fuel efficiency. Also, enhanced steering functionality is expected to augment the growth of the steer-by-wire system market.
However, reluctance in adoption and associated high cost may hamper the growth of the steer-by-wire system market during the forecast period. Nevertheless, the demand for autonomous vehicles is foreseen to create excellent opportunities for the steer-by-wire system market players in the coming years.
The global steer-by-wire system market is segmented on the basis of component, propulsion type, and vehicle type. Based on component, the market is segmented as steering actuator, angular sensors, feedback motor, and others. On the basis of the propulsion type, the market is segmented as ICE and electric. The market on the basis of the vehicle type, is classified as passenger cars, heavy commercial vehicles, and light commercial vehicles.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steer-by-wire system market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The steer-by-wire system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting steer-by-wire system market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the xx market in these regions.
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Reasons to Buy the Report:
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market
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