Vehicle Steer-by-wire System market was valued at US$ 129.1 million in 2022 and is anticipated to reach US$ 934.8 million by 2029, witnessing a CAGR of 39.1% - Valuates Reports

Vehicle Steer-by-wire System market was valued at US$ 129.1 million in 2022 and is anticipated to reach US$ 934.8 million by 2029, witnessing a CAGR of 39.1% during the forecast period 2023-2029.

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Vehicle steer-by-wire refers to a system that uses cables and wiring to electronically perform steering operations in a vehicle. In such a setup, there is no longer any mechanical connection between the input component for steering (e.g. the steering wheel) and the vehicle's wheels. Instead, all steering commands are transmitted electrically by a control unit to a motor that then executes the steering movement, thereby causing the wheels to turn in a corresponding manner.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global key players of vehicle steer-by-wire system include KYB Corporation, Nexteer Automotive, ZF, JTEKT Corporation, Bosch and Schaeffler Paravan, etc. Japan is the largest market, with a share about 36%, followed by North America and Europe. In terms of product, electronic control unit is the largest segment, with a share over 34%. In terms of application, L3 vehicle steer-by-wire system is the largest market, with a share over 95%.

This report aims to provide a comprehensive presentation of the global market for Vehicle Steer-by-wire System, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Vehicle Steer-by-wire System.
The Vehicle Steer-by-wire System market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Vehicle Steer-by-wire System market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Vehicle Steer-by-wire System companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.

Segment by Type
Electronic Control Unit
Road Wheel Actuators
Force Feedback Actuator

Segment by Application
L3
L4-L5

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