The global automotive gear position sensor market at a CAGR of almost 9% during the forecast period

NEW YORK, Aug. 19, 2019 /PRNewswire/ --

Global Automotive Gear Position Sensor Market: About this market

Automotive gear position sensor detects the position of the gear and sends the information regarding the current position of the gearshift to the transmission control module, also called transmission control unit (TCU). This automotive gear position sensor market analysis considers sales from both automatic transmission and manual transmission. Our analysis also considers the sales of automotive gear position sensor in APAC, Europe, MEA, North America, and South America. In 2018, the automatic transmission segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand for comfort and convenience features, growing traffic concerns, and the declining price difference between manual and automatic transmission systems will play a significant role in the automatic transmission segment to maintain its market position. Also, our global automotive gear position sensor market report also looks at factors such as growing demand for automatic transmission system, increasing demand for shift-by-wire technology, and growing demand for high-gear transmission system. However, increased complexities in designing of modern transmission system, stray field interference in magnetic gear position sensor, reliability issue with advanced transmission system leading to increase in events of malfunctioning and vehicle recalls may hamper the growth of the automotive gear position sensor industry over the forecast period.

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Global Automotive Gear Position Sensor Market: Overview

Increasing demand for shift-by-wire technology

With the increase in the adoption of automatic transmission system, the demand for the shift by wire technology is expected to grow significantly during the forecast period. A shift by wire system uses an actuator for transmission. Instead of mechanical linkage with the gearbox, the transmission is done using actuators. The gear shift using the shift by wire system could be actuated using digital controls such as lever or buttons or rotary shifters. The GPS plays a crucial role in measuring the position of the digital controls, which control system continuously monitor. This demand for shift-by-wire technology will lead to the expansion of the global automotive gear position sensor market at a CAGR of almost 9% during the forecast period.

Development of the triple-clutch transmission system

Among automotive transmission systems, DCT is one of the most popular transmission systems in automotive applications. DCT offers improved performance, efficiency, and driving comfort. However, continuous works on R&D related to automatic transmission have led to the development of triple-clutch automatic transmission in the recent past. The prominent automotive OEMs, along with tier-1 suppliers, are working on commercial validity of the triple-clutch transmission system. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape

With the presence of several major players, the global automotive gear position sensor market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive gear position sensor manufacturers, that include Continental AG, Honeywell International Inc., Infineon Technologies AG, TE Connectivity Corp., and ZF Friedrichshafen AG.

Also, the automotive gear position sensor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05800696/?utm_source=PRN

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