Future Market Insights (FMI) has projected the global X-by-wire market to grow with year-on-year value growth of 13.9% in 2022 reaching a value of about USD 39 Billion by 2022 end.
| Attribute | Details |
|---|---|
| Global X-by-wire market Analysis (2021A) | USD 34,213.3 million |
| Global X-by-wire market Analysis Estimated Year Value (2022E) | USD 38,958.8 million |
| Global X-by-wire market Analysis Projected Year Value (2027F) | USD 81,993.0 million |
| Value CAGR (2022-2027) | 16.0% |
| Collective Value Share: Top 3 Countries (2022E) | 55.6% |
In X-by-Wire technology, electrical components like control units, motors, actuators, sensors, and others replace mechanical linkages. The usage of these devices lowers vehicle's overall weight and makes it lighter. Vehicle controls such as throttle, steering, brakes, shifting, and clutch are frequently replaced by X-by-wire.
Electronic components and circuits are becoming more popular due to their technical qualities which allow for a wide range of integrated functions and features while also lowering vehicle weight. Other goals in developing new forms of transportation include reducing engine size, replacing mechanical components with electrical devices, electronically conveying request information and building integrated control systems. Global market is projected to witness a value CAGR of 16% during the period 2022 and 2027.
FMI has identified APEJ to be a key market for X-by-wire over the forecast period owing to increasing adoption of X-by-wire in premium and luxury vehicles. The region is estimated to witness a value CAGR of 17.5% during the forecast period.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 13.2% |
| H1,2022 Projected (P) | 13.9% |
| H1,2022 Outlook (O) | 14.4% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 53 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 125 ↑ |
Future Market Insights presents a comparison and review analysis of the dynamics of the X by wire market, which is principally associated with their technical capabilities, which enable a wide range of integrated functions and features while also reducing vehicle weight, electronic components and circuits are growing in popularity.
Reducing engine size, swapping out mechanical parts for electrical ones, electronically transmitting request information, and creating integrated control systems are further objectives in the development of new modes of transportation.
As per FMI analysis, the difference between the BPS values identified in the X by wire market in H1, 2022 - Outlook over H1, 2022 Projected shows a rise of 53 units. Notably, compared to H1, 2021, the market is estimated to rise by 125 BPS in H1 -2022.
The key reason for this change in growth rate is due to automakers' focus on improving fuel economy and lowering emissions. The market for automotive X-by-wire systems is anticipated to rise as a result of the development of advanced driver support systems and rising levels of vehicle automation.
Demand for X-by-wire is expected to rise as a result of the expanding automotive sector and the quick uptake of expensive, high-tech items. Many passenger automobiles and commercial vehicles come with cutting-edge braking systems including ABS, brake by wire, and other safety features. Significant sales of sports and luxury vehicles also influence the market's propensity to accept cutting-edge technology.
The growing automotive industry and rapid penetration of technologically advanced and high-cost products is anticipated to increase the demand for X-by-wire.A large share of passenger cars and commercial vehicles are equipped with advanced brake technologies, such as ABS, brake by wire and other safety systems. Furthermore, significant sales of sports and luxury vehicles make the market more inclined towards the acceptance of advanced technologies.
With the success of fly-by-wire technology in the aerospace industry, the focus is now being laid on developing X-by-wire technologies for passenger cars and commercial vehicles.
The demand for X-by-wire system increased at a significant CAGR of 11% in terms of value from 2012 to 2021. Though there was a slump in 2020 but market recovered in 2021 and projected to grow at a substantial growth rate during the forecast period.
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Advanced control technologies such as radar, laser, GPS, computer vision, and others are required for a driverless car or unmanned ground vehicle that can sense and navigate without human intervention. The elimination of mechanical links and the use of computer-controlled technologies like as brake by wire, steer by wire, suspension by wire, and shift by wire are all required for driverless transportation.
Tesla, General Motors, Uber, Google, BMW, Volvo, Nissan, Ford, and other technology suppliers and automakers are either developing or have expressed an interest in developing self-driving cars.
Furthermore, many automotive companies are expected to work on autonomous technology, which will function as a driving force for the X-by-wire market. Likewise, focus on urban mobility is compelling automakers to implement new technologies and change the way transportation services are organized and delivered. Technologies such as steer-by-wire, brake-by-wire, and drive-by-wire will play a key role in constructing future urban mobility and subsequently enhancing the X-by-wire market.
The material composition and manufacturing process associated with X-by-wire technologies results in the high cost of end products, which is a major factor restraining the adoption of new and innovative safety systems and products among pocket friendly economy cars. In the existing competitive automotive industry, the cost is a major differentiating factor.
Preference for low-cost alternatives is a significant trend in the market, which is expected to significantly affect the adoption of advanced technologies and also affect market growth negatively.
There has been continuous debate in the market over the reliability of X-by-wire systems. End users are worried about the malfunctioning of electronic control units and sensors that can lead to road accidents. Regulatory authorities see mechanical systems to be more failsafe than electronic systems.
X-by-wire systems are complex in nature and further, existing concerns regarding their reliability and durability are anticipated to impede the adoption rate of X by-wire technologies.
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The USA. is estimated to account for82.3%of the North America X-by-wire market in 2022 and projected to remain above 80% throughout the forecast period. In the USA., automobile utilization is rapidly expanding and hybrid vehicles are expected to grow in popularity in the coming years. Similarly, expansions of automotive industry as well as a growing demand from luxury and premium vehicles are driving X-by-wire sales in the USA. In addition, the region is supporting the growing demand for electric vehicles, which will boost the market for X-by-wire systems.
Germany is playing a significant role in the growth of the Western Europe X-by-wire market as the country is the prominent supplier of X-by-wire. The replacement of mechanical elements by electronic systems also helps to make vehicles lighter, boosting fuel efficiency is the topmost requirement around the world. The factors such as advanced technology and vehicle weight loss are driving the market. Major X-by-wire system manufacturers are creating new technology for the future and forming agreements with other players to stay ahead in the market and give the safest experience to vehicle owners. The market in Germany is estimated to dominate the Western Europe X-by-wire market throughout the forecast period with a 14.3% CAGR in terms of value.
Between 2022 and 2027, China is estimated to grow at a value CAGR of 17.5% percent. China is a major market for automobile manufacturers due to the growing population and need for personal vehicles. Furthermore, the government has implemented scrappage incentive programs, which encourage customers to acquire new automobiles which boosting the overall market growth. The luxury car industry in China has plenty of room to develop and it is projected to overtake the USA. as the top market by the end of 2026. Despite the country’s rise, mature markets like the USA and Europe remain essential target countries. The X-by-wire market in China will undoubtedly grow in the next 10 years.
Throttle-by-wire is projected to create an absolute dollar opportunity of more than USD 25 Billion during the period of 2022 to 2027. Technology such as throttle-by-wire has seen significant adoption in the recent past and is in a stage of healthy growth as part of the product life cycle. In recent years, throttle-by-wire has gained significant use among luxury and premium vehicles.
The passenger car segment is projected to create an absolute dollar opportunity of more than USD 33 Billion from 2022 to 2027. With increasing urbanization and a rising population, the demand for passenger cars is rising steeply. Similarly, rising purchasing power and demand for driving comfort will boost X-by-wire use in the coming years. A substantial percentage of passenger cars are equipped with advanced braking technologies such as ABS, brake-by-wire, and other safety systems.
Over the past few years, an increment in the number of joint ventures and expansion activities has been witnessed to improve the supply of X-by-wire. Several key players are also focusing on improving the efficiency of X-by-wire for various applications. The emergence of various manufacturers had also been witnessed in global businesses, especially in China, USA. and India.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2027 |
| Historical Data Available for | 2012 to 2021 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Western Europe; Eastern Europe; Latin America; Asia Pacific Excluding Japan; Middle East and Africa; and Japan |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Russia, Poland, Germany, Italy, France, UK, Spain, BENELUX, China, India, ASEAN, ANZ, South Africa, and Turkey |
| Key Segments Covered | By Technology, By Vehicle Type, By Region |
| Key Companies Profiled | Continental AG; Kongsberg Automotive; Curtiss-Wright Corporation; ZF Friedrichshafen AG; Nissan Motor Co., Ltd.; Robert Bosch GmbH; SKF AB; Denso Corporation; Ficosa International SA; ThyssenKrupp AG; Orscheln Products LLC; KSR International Co.; DURA Automotive System; LORD Corporation; Mobil Elektronik GmbH; JTEKT Corp. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The x-by-wire market was worth around USD 38,958.8 million in 2022.
The x-by-wire market is slated to thrive at 16% CAGR through 2027.
The x-by-wire market is predicted to reach a USD 81,993 million valuation by 2027.
The throttle-by-wire technology segment is predicted to worth more than USD 25 billion by 2027.
The passenger car segment leads the market, worth USD 33 billion by 2027.
China’s x-by-wire market is predicted to showcase a 17.5% CAGR through 2027.
Germany is estimated to expand at a 14.3% CAGR in the Western Europe x-by-wire market.
1. Executive Summary 2. Market Introduction 3. Market Viewpoint 4. Global X-by-Wire Market Analysis and Forecast 5. Forecast Factors: Relevance and Impact 6. Global X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027, By Technology 6.1. Throttle by wire 6.2. Shift by wire 6.3. Brake by wire 6.4. Suspension by wire 6.5. Park by wire 7. Global X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027, By Vehicle Type 7.1. Passenger Car 7.2. Commercial Vehicle 8. Global X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 By Region 8.1. North America 8.2. Western Europe 8.3. Eastern Europe 8.4. Latin America 8.5. APEJ 8.6. MEA 8.7. Japan 9. North America X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 10. Latin America X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 11. Western Europe X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 12. Eastern Europe X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 13. Asia Pacific Excl. Japan (APEJ) X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 14. Middle East and Africa (MEA) X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 15. Japan X-by-Wire Market Analysis 2012 to 2021 and Forecast 2022 to 2027 16. Competition Landscape 16.1. Continental AG 16.2. Kongsberg Automotive 16.3. Curtiss-Wright Corporation 16.4. ZF Friedrichshafen AG 16.5. Nissan Motor Co., Ltd. 16.6. Robert Bosch GmbH 16.7. SKF AB 16.8. Denso Corporation 16.9. Ficosa International SA 16.10. ThyssenKrupp AG 16.11. Orscheln Products LLC 16.12. KSR International Co. 16.13. DURA Automotive System 16.14. LORD Corporation 16.15. Mobil Elektronik GmbH 16.16. JTEKT Corp.
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