Press release
The Automotive Advanced Shifter System Market Reach USD 18.1 Billion by 2031
The prominent key factors that drive the growth of the automotive advanced shifter system market are rise in adoption of lightweight systems for fuel efficiency, increase in demand for driver & passenger safety, comfort & luxury, and surge in demand for automatic transmission. The global automotive industry has experienced tremendous transformation in past few years. The ever-growing demand for fuel efficient vehicles is making vehicle manufacturers focus incessantly on forming new design experiences by enabling efficient incorporation of new technologies and processes, which is anticipated to fortify demand for automotive advanced shifter system up to a great degree during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 335 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A31413
The global automotive advanced shifter system market was valued at $10.9 billion in 2021, and is projected to reach $18.1 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
The automotive advanced shifter system market is segmented basis of technology, component, vehicle type, propulsion, and region. On the basis of technology, it is divided into automatic shifter and shift-by-wire (SBW). By component, it is divided into CAN module, electronic control unit (ECU), solenoid actuator, and others. By vehicle type, it is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. By propulsion, it is divided into ICE, electric & hybrid, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐๐ญ : https://www.alliedmarketresearch.com/automotive-advanced-shifter-system-market-A31413
Modern automobiles require advanced materials to improve fuel efficiency while ensuring safety and performance. Since it takes less energy to accelerate a lighter entity than a heavy one, lightweight materials have the potential to significantly improve the vehicle economy. Regulatory demands on automakers, along with technology advancements in automotive powertrains, have resulted in the development of lightweight automotive systems for vehicles. The combination of sophisticated hardware and software assists automotive component makers in lowering the weight of automobile components, such as shift by wire system.
In addition, heavy steel automotive components can be reduced in weight by 10-60% by replacing them with materials, such as high-strength steel, aluminum, or glass fiber-reinforced polymer composites. The transmission of a vehicle plays an important part in total performance and efficiency as the engine itself, which has led to the development of new high-tech transmission systems, which in turn fuels the growth of the advanced shifter system market.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/A31413
Asia-Pacific dominated the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the automotive advanced shifter system market in 2021. The rapid growth of the automobile sector across all segments along with growing customer inclination toward semi-autonomous and autonomous vehicles propels the growth of the market.
The key players that operate in this automotive advanced shifter system market are Atsumitec Co., Ltd., Delta Kogyo Co., Ltd., Dura Automotive Systems, Eissmann Group Automotive, Ficosa International S.A., Fuji Kiko Co., Ltd., GHSP, Inc., Kongsberg Automotive, Kรผster Holding GmbH, Leopold Kostal GmbH & Co. KG, M&T Allied Technologies, Orscheln Products, Sila Group (Silatech Srl), Stoneridge Inc., and ZF Friedrichshafen AG.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A31413
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
The COVID-19 outbreak forced governments across the globe to implement stringent lockdowns and ban import-export of essential raw material items for most of 2020, and few months in 2021. This led to sudden decline in availability of important raw materials for vehicle components which, in turn, negatively impacted the market for automotive advanced shifter system market.
The global supply chain disruption induced by COVID-19 is expected to have a negative impact on the automobile industry's competitiveness, economic growth, and job losses.
The pandemic also hampered the production of critical raw materials like steel, which are used to make automotive shifter systems, affecting the supply of automotive shifter systems across the world. Moreover, financial and liquidity problems are forcing companies to cut R&D spending, with autonomous vehicle programs being amongst the first at risk. For example, Ford indicated it is expected to postpone the development of its autonomous program for a year.
Severe measures and restrictions across the globe were slowly eased as COVID-19 cases started declining globally. The production of vehicles was stunted globally, owing to the pandemic yet the automotive manufacturers focused on development of new products and announced strategic expansion and collaboration across the industry. The progressive reduction in severe restrictions measures is anticipated to promote growth in sales of the automotive advanced shifter system market and aid to bounce back the demand for automotive advanced shifter system.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฉ๐ญ๐จ ๐๐% ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (335 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/automotive-advanced-shifter-system-market/purchase-options
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