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Automotive Steer-By-Wire Systems Market is expected to grow at a CAGR of 23.4% over 2018 -2026

The purpose of the report is to illustrate the state of the market of Specialty Fats and Oils, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

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Market Insights

The steering system of a vehicle is responsible for turning the vehicle in desired direction by connecting the components and linkages. Steer-by-wire (SBW) systems have emerged as a promising next generation automobile steering system. It is dependent on electrical or electro-mechanical systems in order to perform steering function. It further facilitates better steering control as it is dependent on electronic control system. SBW replaces the traditional mechanical steering column linkages with steering assist motors, electronic control units and sensors. Nissan is among the first automobile manufacturers to have introduced SBW systems in its cars.

The automotive steer-by-wire systems have gained increased adoption in vehicles as a result of the benefits it renders. Various benefits associated with automotive steer-by-wire systems include:

  • Better configuration of a vehicle’s steering functionality
  • Offers better design flexibility for a vehicle
  • Improved human-machine interface
  • Better fuel efficiency
  • Reduced vibration and thereby providing a comfortable ride
  • Reduced weight due to elimination of mechanical linkages

One of the most prominent factors contributing to automotive steer-by-wire systems market growth is increasing demand for automation in automobiles along with rising prospects of driverless cars. Moreover, increasing focus on the part of manufacturers to design and develop fuel efficient cars is another important factor complimenting market growth. Several original equipment manufacturers (OEMs) have introduced automotive steer-by-wire systems in vehicles in order to improve operational efficiency and fuel economy. These systems are popular mainly in plug-in electric vehicles. Thus, rising demand for plug-in electric vehicles is another important factor contributing to automotive steer-by-wire systems market growth.

However, major factor limiting the automotive steer-by-wire systems market growth is reluctance of people towards adopting new technology. SBW technology is still in its nascent stage and may experience considerable delay in gaining consumers’ confidence. In addition, high cost is offsetting the demand for these systems, thereby limiting its usage. Vulnerability to hacking is another prominent factor impacting the market growth negatively.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Specialty Fats and Oils buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Automotive Steer-By-Wire Systems contains:

Analysis and forecast of Specialty Fats and Oils market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Specialty Fats and Oils market;

Assessment and forecast of Specialty Fats and Oils market development;

Financial and business profiles of the leading companies in the Specialty Fats and Oils industry.

Scope

– Up to date working Specialty Fats and Oils data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Specialty Fats and Oils for the period 2018 to 2026

– Planned Specialty Fats and Oils additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Specialty Fats and Oils projects by region, key countries, and companies

– Details of major planned Specialty Fats and Oils projects in the world up to 2026

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