Automotive gear shifter system is a type of transmission system that uses gear and gear drives to control speed and spin of the vehicle. It controls application power to drive the vehicle system and is also responsible for gear engagement and disengagement. Automotive gear shifters are classified into automatic and manual gear shifter. Manual gear shifter system requires a clutch pedal whereas an automatic gear shifter system or a semi-automatic gear shifter does not require clutch pedal.
Growing use of automatic gear shifter system as compared to manual gear shifter system is one of the major factors, which enhances the demand for advance systems of gear shifter. In various regions, strict government vehicle standards for new vehicle is fueling growth over the forecast period. Manufacturers are using more fuel and emission efficient components in vehicles in order to follow government guidelines. For instance, in 2012, Environment Protection Agency (EPA) in the U.S. amended standards such as national program for greenhouse gas emission (GHG) and fuel economy standard for light-duty vehicles (passenger cars and trucks).
Driving Factors in growth of Automotive Gear Shifter Market
Growing automotive industry is a major factor driving growth of the automotive gear shifter market. According to statistics published by OICA the global sales of vehicles reached to 96.8 million units in 2017, from 93.9 million units in 2016. Several vendors in the market are replacing mechanical components with its electronic counterpart in order to increase the efficiency of transmission system so as to enhance the speed of changing gears. Furthermore, rising sales of modern energy-efficient vehicles especially in emerging economies such as China, India, and Brazil, owing to rising disposable income, improved living standard, and others is fueling the market growth as automotive gear shifter are embedded with these vehicles. For instance, according to statistics published by OICA, the sales of passenger cars in India in 2017, was 3.2 million units up from 2.9 million units in 2016.
Rising adoption of electric vehicle is prominently driving growth of automotive gear shifter vehicle. Consumers have shifted their preference towards electric vehicles, owing to rising environmental concern and rising fluctuations in fuel prices. For instance, according to Germen Federal Motor Transportation Authority, 61% increase was registered in the sales of plug-in electric vehicles in 2018 as compared to preceding year. Thus, rising popularity of electric vehicles among consumers globally, is fueling growth of the automotive gear shifter market as electric gear shifters are embedded in electric vehicles.
Increasing demand for fuel-efficient components is also fueling growth of the gear shifter market. Increasing prices of fuels has propelled consumers toward fuel-efficient vehicles, which in turn drives growth of the market as automotive gear shifter increases the mileage of a vehicle that increases fuel-efficiency of the vehicle. Moreover, increasing fuel efficiency reduces the cost spent on fuel. For instance, according to Energy Information Administration (EIA) in the U.S. gasoline prices averaged US$ 2.41 per gallon in 2017, which was 13% higher than in 2016.
Furthermore, automotive gear shifter system is helpful in hilly areas and heavy traffic conditions. Thus, all these factors boosts growth of the automotive gear shifter market. However, high cost and complex design of automotive gear shifter system is expected to hinder growth of automotive gear shifter market.
Regional Analysis of Automotive Gear Shifter Market
On the basis of geography, the global automotive gear shifter market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific is expected to be the largest market for automotive gear shifter during the forecast period, owing to increasing demand for automobiles among consumers, which has led to high growth of the automotive industry. This in turn is expected to aid in growth of automotive gear shift market. For instance, according to a report by India Brand Equity Foundation (IBEF), the Indian automotive industry (including component manufacturing) is expected to reach around US$ 251.4-282.8 billion by 2026. North America held the second largest market share followed by Europe region in 2017. North America and Europe region have been witnessing high growth in the automotive gear shifter market in the recent past. This is due to increasing production, sales, and expansion of leading automobile OEMs and automotive component suppliers in the regions. According to statistics provided by OICA, 3.5 million vehicles were sold in 2017 up from 3.1 million vehicles in 2016 in the U.S.
Key Players in Automotive Gear Shifter Market
Major players operating in automotive gear shifter market include Kongsberg, Tokai Rika, Fuji Kiko, DSM, ZF Friedrichshafen, Eissmann, ZF TRW, Fine Sinter, Aisin AI, Ficosa, Ningbo Gaofa, PT. Astra, and Sapura.
Segmentation of Automotive Gear Shifter Market
Automotive gear shifter market is segmented on the basis of product type, fuel system, applications, and region.
On the Basis of Product Type
On the Basis of Fuel system
On the Basis of Applications
On the Basis of Regions
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.