Market Trends of Japan X By Wire Systems Industry
This section covers the major market trends shaping the Japan X-by-Wire Systems Market according to our research experts:
Increasing Demand for Electrical cars and Autonomous Cars
The adoption rate of electric vehicles is increasing across the globe and the sales of electric and hybrid vehicles will show a significant growth during the forecast period. This growth can be attributed to the stringent emission norms and increased battery density. The ADAS features, which were earlier offered only in the high-end luxury cars are now being offered in entry level models.
From 2020, all the newly manufactured cars in the US will come installed with Automatic braking system, Lane Departure Warning System and Parking assistance system. This factor is expected to fuel the market for x by wire systems.
The autonomous car manufacturers will soon reach level 5 autonomy in which steering wheel's mechanical movement will be picked by sensors and electric control units will convert these signals into electronic signals that will control the electric motors for the movement of wheels.
Fuel Efficient vehicles Are Driving the Market
With the growing demand for the adoption of electric and hybrid vehicles, electric vehicle manufacturers are also looking forward to adopting brake-by-wire systems in their vehicles.
With the growing trend of autonomous vehicles in the Japan, automobile manufacturers, such as BMW, Audi, and Daimler, are now introducing autonomous vehicles in the market, which is expected to further boost the demand for the x-by-wire market.
- For instance, on June, 13 2018, Magna announced that it is partnering with May Mobility, an Ann Arbor, Michigan startup, for manufacturing self-driving shuttles, to retrofit and scale up May Mobility's unique fleet of low-speed electric micro shuttles.
Furthermore, with growing environmental concerns, along with the enactment of stringent emission regulations, the demand for and adoption of electric vehicles have been continually increasing, which in turn, is propelling the demand for x-by-wire systems in the country.
The steering manufacturers, who are already present in the country, are making strategic partnerships and are expanding their businesses across the world. For instance, Nexteer Automotive announced that the company is expanding its strategic software investment.
- The role of software in vehicles, especially in safety-critical steering, is evolving quickly. Nexteer's software plays a critical role, including cybersecurity, in its products, such as steer-by-wire (SbW) and electric power steering systems (EPS).
- Nexteer has also formed a joint venture with Dongfeng Motor Parts and Components Group Co. Ltd in China, which is expected to further boost the market for x-by-wire systems in the country.
