Press release
Advanced Gear Shifter System Market Anticipated To Witness Robust Growth, Surpassing $20.4 Billion By 2029
Advanced Gear Shifter System
What Is the Current Advanced Gear Shifter System Market Size and Its Estimated Growth Rate?
The advanced gear shifter system market has grown considerably, forecasted to grow from $13.55 billion in 2024 to $14.74 billion in 2025 at a CAGR of 8.8%, attributed to growth in automotive systems, more use of cable shifting, increased vehicle electrification, consumer focus on performance, and demand for smoother gear transitions.
The advanced gear shifter system market is expected to grow steadily, projected to hit $20.4 billion by 2029 at a CAGR of 8.5%. This increase is driven by rising sales in mid-size and luxury cars, growing x-by-wire technology adoption, preference for automatic transmissions, enhanced driving comfort, and fuel efficiency. Trends include tech-advanced shifters, vehicle connectivity, autonomous driving systems, and wider adoption of shift-by-wire setups.
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How Are Emerging Segments Shaping the Advanced Gear Shifter System Market Landscape?
The advanced gear shifter system market covered in this report is segmented -
1) By Component: Solenoid Actuator, Electronic Control Unit (ECU), CAN Module, Other Components
2) By Technology: Automatic Shifter, Shift-By-Wire (SBW)
3) By Vehicle Type: Light Duty Vehicle, Commercial Vehicle, Electric Vehicle, Other Vehicle Types
Subsegments:
1) By Solenoid Actuator: Linear Solenoid, Rotary Solenoid, Push Or Pull Solenoid
2) By Electronic Control Unit (ECU): Transmission Control ECU, Engine Control ECU, Integrated ECU
3) By CAN Module: High-Speed CAN Module, Low-Speed CAN Module, CAN FD Module
4) By Other Components: Sensors, Wiring and Connectors, Hydraulic Components
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Which Growth Factors Are Influencing Advanced Gear Shifter System Market Expansion?
Increased luxury vehicle sales are contributing to the growth of the advanced gear shifter system market. Premium cars, known for their comfort and high-end features, are gaining traction due to lifestyle trends, brand appeal, and accessible financing. Advanced gear shifter systems in these vehicles enhance precision, driving comfort, and luxury. According to Tesla Inc., luxury EV deliveries and production jumped to $24.32 billion in 2023 from $21.454 billion in 2022-a 37.24% increase. Hence, the expanding luxury vehicle market supports the advanced gear shifter system market.
Who Are the Dominant Players Across Different Advanced Gear Shifter System Market Segments?
Major companies operating in the advanced gear shifter system market are TOKAI RIKA CO Ltd., Robert Bosch GmbH, Varroc Group, ZF Friedrichshafen AG, Denso Corporation, Atsumitec Co Ltd., Magneti Marelli S.p.A., Kostal Group, Ficosa Internacional SA, Remsons Industries Ltd., Eissmann Group Automotive, Ficosa, M&T Allied Technologies Co. Ltd., Fujikiko Co. Ltd., Kongsberg Automotive GmbH, Dura Automotive Systems Inc., Stoneridge, GHSP, Kapsch Components, Delta Kogyo Co. Ltd., Lumax Industries, SL Corporation, Sila Group, Leopold Kostal GmbH & Co. KG, Orscheln Products, Jopp Technology Co. Ltd.
What Are the Latest Developing Trends in the Advanced Gear Shifter System Market?
Key players in the advanced gear shifter system market are innovating with products like electronic clutch control systems to improve vehicle performance and facilitate ADAS integration. In November 2023, Honda Motor Co. Ltd. launched an electronic clutch control system for motorcycles, automatically adjusting the clutch based on sensor input like speed and gear position to enhance dynamics and support automation.
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Which Geographic Regions Are Expected to Dominate the Advanced Gear Shifter System Market in the Coming Years?
North America was the largest region in the advanced gear shifter system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced gear shifter system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Advanced Gear Shifter System Market?
2. What is the CAGR expected in the Advanced Gear Shifter System Market?
3. What Are the Key Innovations Transforming the Advanced Gear Shifter System Industry?
4. Which Region Is Leading the Advanced Gear Shifter System Market?
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