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(Transportation-News.com, March 30, 2020 ) Market Overview
• The Global Advanced Gear Shifter System Market is expected to grow at a CAGR of 7.5% in the forecast period of 2019-2026.
• In the automobile industry, a generational change is occurring for vehicles with automatic transmission. Currently vehicles shift to modern automatic transmissions with an increasing number of gears, mechanical linkages are disappearing in favor of shift by wire.
• Advanced gear shifter system market for automotive market is segmented by type of technology, and type of vehicle and geography. By technology type market is segmented into automatic gearshift, and shift by wire . By vehicle type the market is further segmented by light duty vehicles, medium duty vehicles and heavy-duty vehicles. whereas by geography the market is divided into North America, South America, Europe, Asia Pacific and Rest of the World.
• The growing automotive industry, mainly due to rising demand for passenger cars, coupled by vehicle standards set by governments of various regions are projected to create healthy growth opportunities for the manufacturers of automotive gear shift systems in near future.
• Global Advanced Gear Shifter System Market Value (USD Million), 2018-2026
Market Dynamics
• In the automobile industry, a generational change is occurring for vehicles with automatic transmission. Currently vehicles shift to modern automatic transmissions with an increasing number of gears, mechanical linkages are disappearing in favor of shift by wire.
• The Shift by wire reduces the human machine interface efforts and improves performance, moreover provides better features such as effortless shifting, integrated safety feature, integration with custom vehicle features, reduced space claim and improved operator productivity. while offering smoother transaction between gears and replaces the current mechanical coupling.
• The growing automotive industry, mainly due to rising demand for passenger cars, is projected to create healthy demand for advanced gear shift systems during the forecast period.
• In addition, vehicle standards set by governments of various regions are also projected to create healthy growth opportunities for the manufacturers of automotive gear shift systems in near future as most manufacturers are focused on the manufacturing of more efficient automotive gear shift systems with low fuel & emission. Additionally, growing adoption of electric vehicles is also one of the key drivers creating opportunities for the overall automotive gear shift systems market.
Market Segmentation
• Based on application, Advanced Gear Shifter System Market for Automotive market is classified into Automatic Gearshift, and shift by wire. Currently automatic gearshift is the dominant segment and it accounts for approximately XX% of the market.
• The Shift by wire system converts mechanically actuated automatic transmissions into electronically shifted transmissions. Vehicle OEMs can easily integrate this space saving system into their chassis with minimal wiring required.
• Shift by wire allows vehicle OEMs to integrate more than just transmission shifting into a single controller. Six input and two output connections give vehicle OEMs better control over auxiliary systems while improving operator efficiency.
• Shift by wire system provides vehicle OEMs with a reliable platform for effortless shifting, integrated safety feature, integration with custom vehicle features, reduced space claim and improved operator productivity. Hence moving forward shift by wire gear shifter technology to witness higher growth rate replacing the conventional systems in the automotive.
Market Segmentation
• Based on vehicle type, advanced gear shifter system market for automotive is classified into light duty vehicles, medium duty vehicles, and heavy-duty vehicles. Currently light duty vehicles are the dominant segment and it accounts for approximately XX% of the market.
• The light duty vehicle segment is projected to be the largest market for advanced gear shifter systems, by vehicle type. Advanced shifter technologies such as automatic shifter and shift-by-wire are extensively used in mid-size and economy class of light-duty vehicles. On the other hand, automatic shifters are used in luxury vehicles. Increasing sales of mid-size and luxury class vehicles is driving the growth of light duty vehicle segment and hence advanced gear shifter system.
Geographical Analysis
• The Asia Pacific Advanced Gear Shifter System Market for Automotive market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Asia Pacific region is expected to grow with high CAGR during the forecast period owing to the immense growth in the end user industries.
• The Asia Pacific market is forecasted to hold the largest market share and is estimated to grow at a significant CAGR during the forecast period. The market growth in the region can be attributed to the increase in vehicle production and adoption of advanced shifter technology in vehicles.
• The Indian Government’s ‘Make in India’ initiative have been picking up speed as some of the leading automotive manufacturers across the globe are heavily investing in the region. For instance, the German automotive company Volkswagen has recently announced plans to invest around 1 billion euros in the country over the next few years to develop six new models.
• By 2021, South Korea’s second largest automobile manufacturer, Kia Motors also intends to increase investments in the region to 2 billion dollars from the present 1.1 billion dollars. Lately, Suzuki Motor Corp has also announced investments of about 3 billion dollars over the next three years to maintain its position in the Indian passenger vehicle market.
• Expansion of leading OEMs and automotive component suppliers in developing economies like China, India are also projected to drive the growth in this region.
Competitive Analysis:
• Some of the major players include Dura Automotive Systems, Ficosa International S.A, Kongsberg Automotive Holding ASA, ZF Friedrichshafen AG, Curtiss-Wright, KÜSTER Unternehmensgruppe, Lumax Industries Ltd, Stoneridge, Inc, SILATECH S.r.l, Magneti Marelli S.p.A.
• In March 2018, Ficosa announced that it has established itself in Africa for the first time, opening a new production center in Rabat, Morocco. Ficosa would produce electric cable sets, rear-view mirrors, shifter systems, and washer systems in this plant.
• These key players in the market are mainly focus on new product launches, expansions, mergers & acquisitions to enhance their position in the automotive advanced gear Shifter Systems market.
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• Visualize the composition of the Advanced Gear Shifter System Market for Automotive in terms of type of technology, and type of vehicle highlighting the key commercial assets and players.
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