Press release
Advanced Gear Shifter System Market Market to Set Phenomenal Growth from 2018 to 2025
The report "Advanced Gear Shifter System Market for Automotive by Technology (Automatic Shifter, Shift-by-Wire), Component (CAN Module, ECU, Solenoid Actuator), Vehicle Type (Light Duty Vehicles, Commercial Vehicles), EV Type, and Region - Global Forecast to 2025", The advanced gear shifter system market for automotive is projected to grow at a CAGR of 3.64% during the forecast period, to reach USD 13.50 billion by 2025 from an estimated USD 10.51 billion in 2018.Browse 89 market data Tables and 35 Figures spread through 121 Pages and in-depth TOC on "Advanced Gear Shifter System Market"
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Factors such as higher disposable income, increasing awareness of the use of x-by-wire technology in a vehicle among vehicle occupants, increasing amount of vehicle electronics, and the adoption of advanced vehicle technologies such as connected vehicles and self-driving vehicles are expected to drive the advanced gear shifter system market for automotive. The increasing sales of mid-size and luxury vehicles in recent years is driven by the changing preferences and lifestyle of the young population. Increasing demand for vehicles with automatic and semi-automatic transmission and increasing use of e-mobility in regions like Asia Pacific, South America, and the Middle East & Africa are expected to drive the market for advanced gear shifter system for automotive.
South America to be the fastest growing market and Asia Pacific to hold the largest market for advanced gear shifter system for automotive in 2025
South America is projected to be the fastest growing market for advanced gear shifter system for automotive from 2018 to 2025. The market growth in this region can be attributed to the increasing vehicle production and expansion of leading OEMs and automotive component suppliers. Asia Pacific is projected to be the largest market for advanced gear shifter system for automotive from 2018 to 2025. The market growth in the region can be attributed to factors such as increasing sales of mid-size and luxury vehicles and government initiatives regarding the use of environment-friendly electric vehicles.
Key Players:
The advanced gear shifter system market for automotive is dominated by a few globally established players such as ZF (Germany), Kongsberg (Norway), Dura Automotive (US), Ficosa (Spain), and Stoneridge (US).
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