Chan Ye Xin Xi Wang·2025-09-18 01:39Industry Overview - The steer-by-wire (SBW) system is a key technology in automotive intelligence, significantly enhancing driving safety, control experience, and supporting autonomous driving functions [1][4] - The market size for China's steer-by-wire system is projected to reach approximately 5.5 billion yuan in 2024, with an expected growth to 301.5 billion yuan by 2030 [1][9] Market Dynamics - The steer-by-wire system is expected to see a penetration rate of 5% by 2025 and 30% by 2030, with a corresponding market size increase from 63 billion yuan in 2025 to 376 billion yuan in 2030 [4][14] - The automotive market in China has shown a production increase of 12.7% year-on-year in the first seven months of 2025, indicating a growing demand for innovative steering technologies [9] Key Companies - Leading international companies in the steer-by-wire market include Bosch, ZF, and Denso, while domestic players like Nissin and Zhejiang Shibao are emerging as significant competitors [10][11] - Zhejiang Shibao is focusing on electric power steering systems and aims to achieve mass production of steer-by-wire systems by 2026, with a revenue increase of 35.32% in the first half of 2025 [12][14] - Bertli has developed a steer-by-wire product that supports L3 and above autonomous driving, achieving a revenue growth of 30.04% in the first half of 2025 [12][14] Industry Development Trends - The steer-by-wire system is expected to experience explosive growth from 2025 to 2030, driven by advancements in technology and increasing market penetration [14][15] - The industry is witnessing a trend towards the integration of core components domestically, with a target of over 50% localization for key parts by 2030 [15] - The collaboration between steering and braking systems is becoming a focus for research and development, enhancing the overall vehicle control experience [16][17]