Automotive Gear Shifter Market to Register Unwavering Growth During in Global by 2026
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.
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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.
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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.
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