The global automotive throttle-by-wire-system market is expected to post a CAGR of over 4% during the period 2018-2022, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
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Technavio has published a new market research report on the global automotive throttle-by-wire-system market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the cost benefits of x-by-wire technology. The x-by-wire technologies provide freedom from mechanical linkages that significantly lowers the cost of a vehicle with more efficient packaging. This is because electronic systems require fewer components than mechanical linkages. Traditional mechanical components, such as the steering column, intermediate shafts, pumps, hoses, vacuum servos, belts, coolers, and master cylinders, are removed from the vehicle when x-by-wire systems are used. X-by-wire systems are lightweight, as they use fewer materials.
This market research report on the global automotive throttle-by-wire-system market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the back conversion of electronic systems to mechanical linkages by the do-it-yourself population to negatively impact the BBW market as one of the key emerging trends in the global automotive throttle-by-wire-system market:
Global automotive throttle-by-wire-system market: Back conversion of electronic systems to mechanical linkages by the do-it-yourself population to negatively impact the BBW market
The main drivers that powered the rise of the DIY population amongst enthusiasts and adventure seekers include the introduction of onboard diagnostics ports, in addition to the mechanical nature of the vehicles. The recent trend of the increase in auto electronics concentration in automobiles has caused a sudden imbalance in the DIY population's skill set. In order to be a successful DIY automobile owner, there is a strong need to be conversant with in-depth electronics and electrical knowledge, along with the capacity to handle the innards of the onboard computers and networked systems.
"The DIY population have started a back to basics movement, wherein x-by-wire technology enabled vehicles are being converted back to mechanical systems. This is seen as a backlash from the DIY population as a rejection of the higher electronics content to get back to their comfort zone," says a senior analyst at Technavio for research on automotive electronics.
Global automotive throttle-by-wire-system market: Segmentation analysis
This market research report segments the global automotive throttle-by-wire-system market by application (passenger cars and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for nearly 77% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 52% of the market share. The market share occupied by this region is anticipated to increase by nearly 2% during 2018-2022.
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