The global advanced gear shifter system market is projected to grow at a CAGR of 7.91% during the forecast period, from USD 10.5 billion in 2018 to USD 17.8 billion by 2025
NEW YORK, April 30, 2019 /PRNewswire/ -- Increasing use of x-by-wire technology in vehicles, increasing sales of mid-size and premium vehicles, and increasing use of energy-efficient electric vehicles to fuel the demand for the advanced gear shifter system market
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The global advanced gear shifter system market is projected to grow at a CAGR of 7.91% during the forecast period, from USD 10.5 billion in 2018 to USD 17.8 billion by 2025. Increasing use of x-by-wire technology and advantage of accurate and quick responding gear actuation are driving the advanced gear shifter system market. However, less reliability and more complexity of an advanced shifter is a restraining factor for the advanced gear shifter system market. Increasing preference for automatic and hybrid transmission in developing countries and haptics shifters in future vehicles are expected to create opportunities for the advanced gear shifter system market in the coming years. On the other hand, developing automotive industry in emerging markets can pose challenges for the advanced gear shifter system market.
Solenoid actuator component segment for advanced gear shifter system is estimated to be the largest segment by current rating from 2018 to 2025
The advanced gear shifter system market for solenoid actuator is estimated to be the largest since it is used in most of the vehicle shifting mechanism. Increasing vehicle production equipped with automatic and semi-automatic transmission is likely to drive the growth of this segment.
Shift-by-wire segment to grow at a significant rate during the forecast period
The advanced gear shifter system market for shift-by-wire is projected to grow at the highest CAGR during the forecast period.It is followed by automatic shifter.
The growth of shift-by-wire segment is driven by the increasing sales of luxury and ultra-luxury vehicles in developed and developing countries.Shift-by-wire technology eliminates the need of mechanical linkages.
This in turns reducing the weight of the vehicle. It results in improved vehicle efficiency.
Asia Pacific to lead the advanced gear shifter system market during the forecast period
The Asia Pacific region is estimated to hold the largest share of the global advanced gear shifter system market in 2025. Increasing use of vehicles with automatic and semi-automatic transmission and increasing awareness of green vehicles among people are expected to fuel the growth of the advanced gear shifter system market in the Asia Pacific region.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1: 45%, Tier 2: 30%, Tier 3: 25%
• By Designation: Manager level: 35%, C level: 25%, Other: 40%
• By Region: Asia Pacific: 45%, Europe: 30%, North America: 20%, SA and MEA: 10%
Major players profiled in the report are:
• ZF (Germany)
• Kongsberg Automotive (Norway)
• Stoneridge (US)
• Fuji Kiko (Japan)
• Dura (US)
• Ficosa (Spain)
• Küster (Germany)
• Kostal (Germany)
• GHSP (US)
• Orscheln Products (US)
Research Coverage:
The report segments the advanced gear shifter system system market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, South America and Middle East & Africa), technology (Automatic Shifter and Shift-by-wire), component(CAN Module, ECU, Solenoid Actuator and Others), Vehicle Type(Light Duty Vehicles, Commercial Vehicles), Electric Vehicle (BEV, FCEV, & PHEV).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the advanced gear shifter system system market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information about the advanced gear shifter system market and the top 10 players in the market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the advanced gear shifter system market.
• Market Development: The report offers comprehensive information about the advanced gear shifter system system market. The report analyzes the advanced gear shifter system market across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the advanced gear shifter system market.
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