Global Automotive Advanced Shifter System Market Size, Share, Forecast Report, 2020-2027
The automotive advance shifter system primarily consists of the gearshift, the control cables, and design style. The advance shifter system in automotive will allow the driver to select the speed of the vehicle efficiently and safely. The automotive advance shifter system is mostly based on customers inputs and requirements. This improves performance, and maintains high level of reliability and reduced cost.
Global automotive advanced shifter system market has seen remarkable growth; expected to rise at a CAGR of ~6%. Increased concerns regarding the automobile performance and growing demand for automotive advance shifter systems due to the ability to provide high efficiency and to satisfy customer speed demand are the major factors driving the global automotive advance shifter system market. Rapid growing demand for a shift by wire technology will further drive the global market. It is expected that the growing demand for shift-by-wire technology will further create opportunities for the global automotive advance shifter system market. It is predicted that the shift-by-wire technology will be more frequently available in the automobiles during the forecast period which would increase the demand for the automotive advance shifter system. Also, there is a continuous increase in investment regarding the development of the technology, by manufacturers, which would facilitate better designing of automotive advance shifter systems. There are new manufacturing companies in the market who actively manufacture advance shifter systems as original equipment manufacturers for the major top vehicle manufacturers. However, major restraints for the global automotive advance shifter system market are design complexity and maintenance of required reliability. Customer satisfaction is the major concern for the manufacturers in the global automotive advanced shifter system market.
Segmentation: Automotive Advanced Shifter System Market
Global automotive advanced shifter system market is segmented on the basis of technology, component, fuel type, vehicle type, and region. On the basis of technology, the market has been segmented into automatic, manual, and shift by wire. On the basis of component, the market has been segmented into CAN module, ECU, solenoid actuator, and others. On the basis of fuel type, the market has been segmented into petrol, diesel, and gasoline. On the basis of vehicle type, the market has been segmented into passenger car, commercial vehicle, and electric vehicle.
Geographically, the global automotive advanced shifter system market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share throughout the forecast period owing to increased awareness regarding safety, growing urbanization, and the increased aftermarket industry, which will enhance the market size of in the market in Asia-Pacific. Moreover, increased production and sale of automobiles will further boost the growth for automotive advanced shifter system market in Asia-Pacific.
The prominent players in the global automotive advanced shifter system market include Dura Automotive (US), Ficosa (Spain), Kongsberg Automotive (Norway), ZF (Germany), WABCO (Belgium), and Jopp Group (Germany). SILATECH S.r.l. (Italy), Remsons Industries Ltd. (India), Küster Holding GmbH (Germany), and Robert Bosch GmbH (Germany) are among others.