Automotive SBW: Key market research findings
- Europe is the dominant shareholder in the market
- Increased adoption of backup mechanical linkages in the market
- Key vendors—Nissan, Bosch, JTEKT, ThyssenKrupp, and Paravan
Technavio’s market research analysts expect the global automotive SBW market to reach almost $13 billion in revenue between 2016 and 2020. The fundamental driver for the market is the growth of the electric high-performance vehicles (EHPV) market. EHPVs are a better and more viable long-term option in spite of their high costs expensive as they have a long lifespan and involve low maintenance costs. Currently, Europe dominated the global automotive steer-by-wire (SBW) market by occupying around 40% of the overall market share. The increase in the purchase of new vehicles integrated with SBW technology, especially in countries such as India, China, Japan, and Indonesia, will boost growth in the automotive SBW market in APAC by 2020.
The new market research report from Technavio presents a breakdown and analysis of the automotive SBW segments by technology.
“The adoption of backup mechanical linkages is the latest trend in the automotive SBW market across the globe. As per regulatory standards, backup mechanical systems in SBW system-enabled cars are mandatory in many countries. Increased focus on the implementation of such legislations in more region coupled with the awareness about the benefits of having an SBW system in place are likely to reflect positively on the market in the coming years,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
In 2015, the backup mechanical (BM)-SBW segment accounted for around 98% of the market share to dominate the global automotive SBW market and is expected to showcase substantial growth during the forecast period. However, the PE-SBW segment, accounting for around 2% of the market share, will be the fastest growing segment during the forecast period. Factors such as healthy developments in the areas of steering monitoring systems (SMS) and third party assistance (TPA) by advanced versions of onboard diagnostics in vehicles are likely to influence the growth of the PE-SBW segment during the forecast period.
The key vendors in the market include Nissan, Bosch, JTEKT, ThyssenKrupp, and Paravan. Nissan has the expertise in developing automotive products and related parts across the world. It has a broad range of vehicles that span from sports cars, electric vehicles, light commercial vehicles, trucks, minivans and vans, and crossovers and SUVs. It entered into the steering systems sector specifically focusing on steer-by-wire via its brand Infiniti Q50 sedan across the world. The company primarily focuses on its Nissan Power 88 strategic plan which includes improving the quality of the product, building a robust dealer network, and becoming a zero-emission leader in the automotive sector.
A more detailed analysis is available in the Technavio report, Global Automotive SBW Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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