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Drive-By-Wire Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
Drive-By-Wire Market
The Business Research Company's Drive-By-Wire Global Market Report 2023 identifies the increasing demand for electric vehicles (EVs) as the major driver for the drive-by-wire market's growth in the forecast period. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. It operates on electric motors and charges its batteries with electricity rather than using fossil fuels like gasoline or diesel. In electric vehicles (EV), drive-by-wire technology uses electronic systems to activate brakes, control steering, and fuel the engine.
The global drive by wire market size is expected to grow from $22.92 billion in 2022 to $24.22 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global drive by wire market size is expected to grow to $29.65 billion in 2027 at a CAGR of 5.2%.
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Major competitors in the drive-by-wire market are Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissan Motor Co. Ltd., Nexteer Automotive, Kongsberg Automotive Holding ASA, Curtiss-Wright Corporation, Hitachi Astemo Ltd., DENSO Corporation, Ficosa Corporation, TRW Automotive Holdings Corp., Peugeot, SKF Group, TORC Robotics Inc., ME Mobil Elektronik GmbH, and Danaher Motion.
A key trend in the drive-by-wire market includes technological advancement. Major companies operating in the drive-by-wire market are focusing on the use of advanced solutions to sustain their market position. For instance, in March 2020, ZF Friedrichshafen AG, a Germany-based car parts manufacturer, launched front electric park brake technology for a wider range of vehicles. With this technology, automobile manufacturers can equip smaller vehicles with a modern braking system and design their interiors without the typical handbrake lever or parking brake pedal. Its features include the auto-hold and stop-and-go functions, and the increased static load distribution on the front axle, which contributes to improved parking safety.
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The drive-by-wire market is segmented -
• By Vehicle Type: Passenger Car, Commercial Vehicle, Electric Vehicle, Off-Highway Vehicles
• By Component: Vehicle Electronic Control Unit, Actuator, Engine Control Module, Electronic Transmission Control Unit, Feedback Motor, Sensors, Other Components
• By Application Type: Throttle-By-Wire, Steer-By-Wire, Shift-By-Wire, Brake-By-Wire, Park-By-Wire
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the drive-by-wire market.
The Business Research Company's "Global Drive-By-Wire Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Drive-By-Wire Market Include:
1. Executive Summary
2. Drive-By-Wire Market Characteristics
3. Drive-By-Wire Market Trends And Strategies
4. Drive-By-Wire Market - Macro Economic Scenario
5. Drive-By-Wire Market Size And Growth
……
26. Africa Drive-By-Wire Market
27. Drive-By-Wire Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drive-By-Wire Market
29. Drive-By-Wire Market Future Outlook and Potential Analysis
30. Appendix
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