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The global Automotive Gear Shifter market is expected to exhibit a strong CAGR of 6.4% over the forecast period from 2016 to 2023, according to the latest research report from Market Research Future (MRFR). The global Automotive Gear Shifter market is assessed in detail in the report to find the market’s leading drivers and restraints, major players, and leading segments.
The Global Automotive Gear Shifter market is mainly driven by the growth of the global automotive industry. The growing automotive industry is likely to remain the major driver for the global Automotive Gear Shifter market over the forecast period. Automotive Gear Shifters play a crucial role in automotive design by transferring the engine’s power to the wheels and allowing for multiple speeds. The “feel” of Automotive Gear Shifters is a crucial part of a car’s experience, as it is a key indicator of how the car was built and what it is intended to do. As a result, the Automotive Gear Shifter industry is likely to receive increasing investment from leading automotive market players over the forecast period. The increasing vehicle ownership figures around the world are likely to be a key driver for the global Automotive Gear Shifter market over the forecast period.
Increasing demand for technological innovation in Automotive Gear Shifters is also likely to be a key driver for the market over the forecast period. Due to the growing awareness about the environmental contributions made by cars, the demand for lightweight automobiles has risen rapidly. This has further driven the demand for lightweight automotive components, leading to significant upheaval in several arms of the automotive industry. The growing demand for lightweight gearboxes is likely to be a major driver for the global Automotive Gear Shifter market over the forecast period, as gearboxes comprise a large part of the overall weight of a vehicle.
Competitive Analysis:
Leading players in the global Automotive Gear Shifter market include GKN plc, ZF TRW, Robert Bosch GmbH, Dana Holding Corporation, Mitsubishi Group, Neapco Inc., Bharat Gears Ltd., NSK Ltd., Linamar Corporation, and Eaton.
In May 2019, EMAG released a new twin-spindle system for gear hobbing, called the VL 1 Twin Line. This method reduces the production times drastically, while maintaining production quality.
Segmentation:
The global Automotive Gear Shifter market is segmented on the basis of material, product type, vehicle type, and region.
By material, the global Automotive Gear Shifter market is segmented into metal and plastic.
By product type, the market is segmented into planetary, bevel, helical, non-metallic, and others.
By vehicle type, the global Automotive Gear Shifter market is bifurcated into commercial and passenger vehicles.
Regional Analysis:
Asia Pacific is likely to dominate the global Automotive Gear Shifter market over the forecast period due to the growing automotive industry in the region. The automotive industry in Asia Pacific has become a leading contributor to the global automotive market over the last decade, with the rapid rise in vehicle ownership in countries such as China and India propelling the domestic automotive industry to new heights over the last few years. This has made the region a leading consumer of automotive parts, including Automotive Gear Shifters. The growing passenger vehicle ownership in the region is likely to drive the Automotive Gear Shifter market over the forecast period. The increasing industrialization in Asia Pacific is likely to aid further growth of the automotive industry, leading to a steady rise in the demand from the Automotive Gear Shifter market over the forecast period.
North America is also likely to play a leading role in the global Automotive Gear Shifter market over the forecast period. While the dominance of Asia Pacific in the global Automotive Gear Shifter market is mainly based on overall volume, North America and Europe are likely to be the technological leaders for the global Automotive Gear Shifter market over the forecast period. The presence of leading automotive market players in North America and the easy availability of advanced research capabilities into materials and designing are likely to play a key role in ensuring steady growth of the Automotive Gear Shifter market in North America over the forecast period.
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