Automotive Gear Shifter Market estimated to experience a hike in growth by 2026


Posted November 4, 2020 by rohit890

Automotive gear shifter system is a type of transmission system that uses gear and gear drives to control speed and spin of the vehicle
 
Market Overview

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).

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Market Dynamics

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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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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Issued By coherent market insights
Country India
Categories Advertising , Blogging , Industry
Last Updated November 4, 2020