Global Drive-By-Wire Market to Reach $37.7 Billion by 2030
The global market for Drive-By-Wire estimated at US$27.3 Billion in the year 2023, is expected to reach US$37.7 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030. Actuators, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$10.2 Billion by the end of the analysis period. Growth in the Engine Control Module (ECM) segment is estimated at 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.2 Billion, While China is Forecast to Grow at 4.2% CAGR
The Drive-By-Wire market in the U.S. is estimated at US$8.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.5 Billion by the year 2030 trailing a CAGR of 4.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
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