Press release
Key Trends Influencing the Growth of the Automotive Gear Shifter Market in 2025: Advanced Functionalities Reshaping Automotive Gear Shifting
Automotive Gear Shifter
What Is the Expected CAGR for the Automotive Gear Shifter Market Through 2025?
The size of the automotive gear shifter market has seen significant growth in recent years. The market which was valued at $12.07 billion in 2024, is projected to increase to $12.9 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the historic period include an uptick in worldwide vehicle production, the adoption of cutting-edge automatic and dual-clutch transmission systems, an increase in the demand for luxury and high-performance vehicles equipped with advanced gear shifters, compliance with stringent emission standards encouraging efficient transmission systems, and consumer preference for automatic and semi-automatic gear shifters for an enhanced comfort level.
What's the Projected Size of the Global Automotive Gear Shifter Market by 2029?
Significant growth is projected for the automotive gear shifter market in the coming years, with a potential to reach $16.61 billion by 2029 at a CAGR of 6.5%. The projected growth during this forecast period can be credited to factors such as the increasing popularity of electric vehicles that necessitate advanced gear shifters, advancements in autonomous driving technologies demanding innovative gear shifters, increased disposable incomes fueling demand for luxury and advanced vehicles, post-pandemic recovery of global automotive production, and current regulations advocating for sophisticated transmission and gear shifter technologies. Key trends during this forecast period comprise gear shifters featuring haptic feedback for improved user interaction, extensive uptake of shift-by-wire technology, the trend toward lightweight and compact gear shifter designs, offering gear shifters in a variety of materials and ergonomic designs, and the progressive integration of gear shifters with advanced driver assistance systems (ADAS).
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Top Growth Drivers in the Automotive Gear Shifter Industry: What's Accelerating the Market?
Anticipated growth in the automotive gear shifter market is largely attributed to the escalating demand for luxury vehicles. Characterized by their superior comfort, performance, and advanced features, luxury vehicles represent the upper echelon of automotive offerings. The market for these high-end cars is booming due to a rise in disposable income, technological innovations, and an increasing appetite for premium features and comfort. Gear shifters in these vehicles enhance the driving experience by offering a more comfortable and seamless performance. In January 2023, Porsche AG, a car manufacturing company based in Germany, reported that they had delivered 80,767 vehicles in the first quarter and 320,221 vehicles in the past 12 months, equating to a 15% increase in deliveries. In comparison, the number of vehicles delivered in Europe surged by 23% year-over-year, reaching a total of 36,574. Consequently, the amplified demand for luxury vehicles is propelling the growth of the automotive gear shifter market.
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What Trends Will Shape the Automotive Gear Shifter Market Through 2029 and Beyond?
Leading firms in the automotive gear shifters industry are prioritizing the development of Automated Manual Gearboxes (AMG) aimed at boosting fuel economy, elevating driving comfort and rendering more seamless gear shifts, lessening the requirement for drivers' manual input. AMG represents a form of transmission system that merges the mechanical operations of a conventional manual gearbox with automated gear shifting. As an example, Yamaha, a company based in Japan that produces vehicles with two wheels, introduced its novel Y-AMT (Yamaha Automated Manual Transmission) in June 2024. This inventive gearbox, created for motorcycles, enhances the riding experience by providing both automatic and manual gear shifting options. Its objective is to make gear shifting easier while keeping the sporty feel, enabling riders to concentrate more on controlling the performance. This gearbox utilizes two electronic actuators-one controlling clutch operation and the other handling gear shifting. Such a design eliminates the necessity of intricate mechanical connections, facilitating smoother and more accurate shifts compared to traditional methods.
What Are the Main Segments in the Automotive Gear Shifter Market?
The automotive gear shifter market covered in this report is segmented -
1) By Component Type: Electronic Control Unit (ECU), Controller Area Network (CAN) Model, Solenoid Actuator
2) By Product Type: Manual Transmission, Automatic Transmission, Continuously Variable Transmission, Other Product Types
3) By Technology Type: Shift By Wire, Automatic Shifter
4) By Fuel System: Diesel, Petrol, Gasoline
5) By Applications: Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle
Subsegments:
1) By Electronic Control Unit (ECU): Gear Shift Module ECU, Transmission Control ECU, Powertrain Control ECU
2) By Controller Area Network (CAN) Model: CAN Bus Communication Modules, CAN Protocol-Based Shift Control Systems, CAN Bus Transceivers For Gear Shifting
3) By Solenoid Actuator: Gear Shift Solenoid Actuators, Transmission Solenoid Actuators, Shifting Mechanism Solenoids
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Which Top Companies are Driving Growth in the Automotive Gear Shifter Market?
Major companies operating in the automotive gear shifter market are Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, General Motors Co., Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Caterpillar Inc., ZF Friedrichshafen AG, Aisin Corporation, Eaton Corporation plc, Chang'an Automobile Co. Ltd., Magneti Marelli S.p.A., FAW Group Corp. Ltd., CLAAS, TREMEC Corporation, JATCO Ltd., Avtec Limited, Shanghai Automotive Transmission Co. Ltd., Hyundai Kefico Corporation, Colotti Trasmissioni
Which Regions Will Dominate the Automotive Gear Shifter Market Through 2029?
Asia-Pacific was the largest region in the automotive gear shifter market in 2023. The regions covered in the automotive gear shifter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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