The global brake and steer by wire market was valued at $7.87 billion in 2021, and is projected to reach $14.75 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
Brake and steer by wire systems can be defined as adoption of electro-mechanical systems for controlling and performing vehicle functions, which were previously done by mechanical linkages. Drive by wire control systems are used as replacement for mechanical systems and energy-intensive systems in a vehicle. In the initial phase, only electronic throttle system was used, however, in the present scenario, steering and braking systems are being controlled by electronics. Drive by wire system is one of the preconditions for fully autonomous and semi-autonomous driving functions. In addition, this system also improves fuel economy and reduces emission of pollutants from the vehicle.
Factors such as rise in development of autonomous vehicles is driving the growth of the brake and steer by wire market. In addition, increase in connected infrastructure is anticipated to boost the growth of the market. However, high cost of brake and steer by wire system and threat of data hacking and malfunctioning is expected to hinder the growth of the market. Furthermore, development of smart cities present remarkable growth opportunities for the key players operating in the market.
Steer by Wire segment is projected as the most lucrative segment
The global brake and steer by wire industry is segmented on the basis of application and region. By Application, the market is divided into brake by wire and steer by wire. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The prominent players operating in the brake and steer by wire market are Brembo S.p.A., Hitachi Automotive Systems, Ltd., JTEKT Corporation, Nexteer Automotive Group Limited, Robert Bosch GmbH, Schaeffler Paravan Technologie GmbH & Co. KG, ZF Friedrichshafen, Ficosa corporation, Kongsberg Automotive, Curtiss-Wright Corporation, Mando Corporation, REE Automotive, Hyundai Mobis, thyssenkrupp AG, Nissan Motor Co., Ltd., Hitachi Automotive Systems, Ltd. And DENSO Corporation
Rise in development of autonomous vehicles
Autonomous vehicles have several advantages over traditional vehicles from improved safety to reduction in fuel and traffic congestion and emissions. An autonomous vehicle is installed with a number of sensors including LiDAR, RADAR, camera, GPS, and drive by wire system. These sensors are short range (providing details of moving objects near the vehicle) as well as long range (providing details of high-speed oncoming vehicles) to help the vehicle sense any object or obstacle in its way, thus eliminating the chances of accidents. Whereas, drive by system electronically controls the functions of vehicle rather than traditional mechanical linkages.
Autonomous vehicles can also help reduce traffic congestion. Based on a study by University of Illinois, it was proved that one autonomous car stuck in a traffic congestion with 20 other human driven cars, can ease the congestion by controlling its pace and hence, speed of all the other cars in the jam. The fuel consumption also reduces with the use of autonomous vehicle as fuel use increases when cars slow down and have to get back up to speed. However, rise in focus on development of autonomous vehicle is anticipated to propel the growth of the brake & steer by wire system.
Independence of design is expected to drive technological adoption
Drive by wires can help in replacement of hydraulic and mechanical systems in motor vehicles with electronic controls. For instance, instead of a physical linkage of the steering wheel to the wheels, sensors detect the driver's movements and send signals to actuators that apply the brakes. Drive-by-wire also helps in freeing up space in a vehicle, which was earlier occupied by mechanical components, leading to freedom of design as well as benefits such as lower noise and reduced vibration levels inside a vehicle’s cabin. For instance, removal of the steering column can provide a manufacturer the freedom to position the driver seat conveniently anywhere in the vehicle as compared to the conventional front corner position and can also increase the interior space to accommodate more passengers without altering the length of the vehicle. For instance, Nissan Murano concept car showcased the advantage of drive by wire by incorporating a third row of seats in an otherwise five-seat model. Brake & steer by wire makes use of several sensors to manage and control the vehicle response with regard to driver’s inputs. This makes it easier to integrate these systems with ADAS, as the sensors and actuators required for ADAS technologies are already present in drive by wire.
Increase in Vehicular Emission Norm Stringency
In the wake of the increasing concerns over air pollution and the effect it has on human and environmental health, governments around the world are implementing new emission norms and making the existing ones more stringent. Therefore, due to presence of such regulations, manufacturers are being compelled to use lightweight materials in vehicles in an effort to increase their fuel efficiency.
This can be achieved with the help of drive by wire controls, which is thus expected to boost the brake and steer by wire market with the increase in stringency of emission norms. The market is expected to witness growth in the coming years backed by the presence of prominent companies in the region. Also, implementation of stringent emission norms by the governments as well as adoption of innovative technologies are expected to propel the brake and steer by wire industry growth. Furthermore, manufacturers are investing considerably in their R&D activities, which is expected to propel the adoption of brake and steer by wire technologies.
Increased braking efficiency and effectiveness driving the demand
The braking efficiency and effectiveness offered by brake-by-wire system as compared to the traditional braking system is driving the demand in the brake-by-wire system market. The concept has already been proven to operate effectively in high performance applications such as Formula 1 vehicles, removes the physical connect between the brake pedal and the elements that apply the stopping force replacing it with electrical signals transmitted by-wire.
Manufacturers are developing brake-by-wire systems including sub-systems and electronic components such as actuators, sensors, and control unit to analyze vehicle data correctly. The brake-by-wire system also helps to gather vehicle data from different sensors in the vehicle which allow brake-by-wire system to react quickly, thereby, reducing the stopping distance. The features and innovative technology in brake-by-wire systems makes it more efficient, this is leading to the wide adoption of brake-by-wire system by automotive manufacturers.
The Sensify system removes nearly all the hydraulic components from the brake system, leaving no physical connection between the pedal and the discs, and it is capable of using AI to determine the correct amount of braking for each wheel under a range of different circumstances.
Europe would exhibit the highest CAGR of 8.7% during 2022-2031
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the brake and steer by wire market analysis from 2021 to 2031 to identify the prevailing brake and steer by wire market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the brake and steer by wire market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global brake and steer by wire market trends, key players, market segments, application areas, and market growth strategies.
Brake and Steer By Wire Market Report Highlights
Market Size By 2031
USD 14.8 billion
CAGR of 6.8%
2021 - 2031
Key Market Players
ZF Friedrichshafen AG, DENSO CORPORATION, Hitachi, Ltd., JTEKT Corporation, Brembo S.p.A., Nissan Motor Co., Ltd., ThyssenKrupp AG, Schaeffler Paravan Technologie GmbH & Co. KG, Nexteer Automotive Group Limited, Robert Bosch GmbH, Continental AG
According to the insights of the CXOs of leading companies, the global brake and steer by wire market is expected to grow at a remarkable rate in future owing to rising development of autonomous vehicles and growth of connected infrastructure.
Rise in development of autonomous vehicles drives the growth of the brake and steer by wire market. In addition, developments in connected infrastructure are anticipated boost the growth of the market. However, high cost of brake and steer by wire system and threat of data hacking and malfunctioning is expected to hinder the growth of the brake and steer by wire market. Furthermore, development of smart cities present remarkable growth opportunities for the key players operating in the market.
Prominent players operating in global brake and steer by wire market are Continental AG, Robert Bosch GmbH, Nissan Motor Co., Ltd., ZF Friedrichshafen, Hitachi Automotive Systems, Ltd, DENSO Corporation, Nexteer Automotive Group Limited, JTEKT Corporation, Schaeffler Paravan Technologie GmbH & Co, Brembo SpA and thyssenkrupp AG
Region wise, Asia-Pacific is the highest revenue contributor, followed by Europe, North America and LAMEA. Europe is expected to witness considerable growth during the forecast period, owing to increase in demand for high performance vehicle in the region in the region