According to a market report by Lucintel, the future of the global automotive throttle by wire system market looks promising with opportunities in the passenger vehicle and commercial vehicle markets. The global automotive throttle by wire system market is expected to reach an estimated $1.27 billion by 2030 with a CAGR of 8.7% from 2024 to 2030. The major drivers for this market are growing adoption of advanced technologies in automobiles, rising need for automotive safety and emission regulations, and increasing demand for electric vehicles.
A more than 150 – page report is developed to understand Trends, opportunity and forecast in automotive throttle by wire system market to 2030 by type (traction control system and speed control system), application (passenger vehicles and commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that traction control system is expected to witness the higher growth over the forecast period due to increasing stringent safety regulations and standards regarding vehicle safety and stability control.
Within this market, passenger vehicles will remain the larger segment due to high production volume and rising penetration of safety features in vehicles.
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North America is expected to witness highest growth over the forecast period due to increasing popularity of electric vehicles and rising trend of vehicle customization in the region.
Robert Bosch, Nexteer Automotive, SKF, Hitachi, and Schaeffler are the major suppliers in the automotive throttle by wire system market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1 972.636.5056
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