Press release
Automotive Advanced Shifter System Market Size Was Valued At Around USD 10.5 Billion In 2021 And Is Expected To Grow At A CAGR Of 5.8% During The Forecast Period
Global Automotive Advanced Shifter System Market
Electronically managed, the sophisticated shifter system is in charge of engaging and disengaging the gears. According to the needs of the driver, it uses a lever and an electrical system to engage/disengage or change gears. The innovative gear shifter system detects when the driver shifts into a different gear, and an electric system engages, disengages, and shifts gears using a solenoid actuator. The market for advanced shifter systems has benefited as a result.
During the forecast period, it is anticipated that factors such as rising lightweight system adoption for fuel efficiency, rising passenger and driver safety, comfort & luxury demand, and rising automatic gearbox demand will propel the growth of the global automotive advanced gearbox system market. The high cost, cybersecurity risk, and safety and reliability requirements of X-by-wire systems are, however, anticipated to restrain the development of the global market over the forecast period. Additionally, the automotive advanced shifter system business is anticipated to benefit from rising demand for shift-by-wire technology and rising vehicle production in developing nations in the near future.
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Modern cars need cutting-edge materials to increase fuel efficiency while maintaining performance and safety. Lightweight materials have the ability to dramatically increase the fuel efficiency of a vehicle because it requires less energy to accelerate a lighter entity than a heavier one. Lightweight automotive systems for vehicles have been developed as a result of regulatory requirements placed on automakers and technological breakthroughs in automotive powertrains. The development of advanced hardware and software helps automotive component manufacturers reduce the weight of car parts like the shift by wire system. Additionally, by swapping out heavy steel vehicle parts for ones made of materials like high-strength steel, aluminium, or glass fiber-reinforced polymer composites, the weight of the components can be decreased by 10% to 60%.
Competitive Landscape:
The global automotive advanced shifter system market is highly competitive, with several players operating in the market. Some of the key players in the market include:
ZF Friedrichshafen AG
Kongsberg Automotive
GHSP
Ficosa International
DURA Automotive Systems
Kostal Group
Kuster Holding
F.TECH INC.
Fuji Kiko Co., Ltd.
Zhejiang Inte Industrial Electric Co., Ltd.
Market Segmentation:
By Type:
• Electronic shifters
• Mechanical shifters
• Others
By Technology:
• Automatic shifter systems
• Semi-automatic shifter systems
• Manual shifter systems.
By Vehicle type:
• Passenger cars
• Light commercial vehicles
• Heavy commercial vehicles
By Sales channel:
• Original Equipment Manufacturers
• Aftermarket
Region
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Regional Analysis:
North America: The North American market for automotive advanced shifter systems is expected to grow significantly due to the increasing demand for luxury vehicles with advanced features, as well as rising concerns about vehicle safety and fuel efficiency. The United States is the largest market in the region, followed by Canada and Mexico.
Europe: Europe is expected to be a major market for automotive advanced shifter systems due to the high adoption rate of advanced technologies in the automotive sector. Germany, France, and the UK are the largest markets in the region.
Asia-Pacific: The Asia-Pacific region is expected to witness the fastest growth in the market due to the increasing demand for passenger cars and commercial vehicles in emerging economies such as China, India, and Japan. The region is also home to some of the world's largest automotive manufacturers and suppliers.
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Latin America: Latin America is expected to witness moderate growth in the market due to the increasing demand for passenger cars and commercial vehicles, as well as rising disposable incomes and urbanization.
Middle East & Africa: The Middle East & Africa market for automotive advanced shifter systems is expected to witness slow growth due to the limited adoption of advanced technologies and low demand for passenger cars and commercial vehicles in the region.
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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Objectives of the Study:
• To provide with an exhaustive analysis on the Automotive Advanced Shifter System Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
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We Market Research
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About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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