Automotive Gear Shifter Market Growth Outlook Through 2024-2033

Overview and Scope

An automotive gear shifter is a component used by the driver to change gears in a vehicle’s transmission system. It allows the selection of different gear ratios, facilitating the control of speed and torque for the wheels. Gear shifters can be manual, requiring the driver to manually select gears, or automatic, where gear changes are managed by the vehicle’s transmission system.

Sizing and Forecast

The automotive gear shifter market size has grown strongly in recent years. It will grow from $11.33 billion in 2023 to $12.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to an increase in global vehicle production, adoption of advanced automatic and dual-clutch transmission systems, growth in luxury and high-performance vehicles with advanced gear shifters, enforcement of strict emission norms promoting efficient transmission systems and consumer demand for automatic and semi-automatic gear shifters for comfort.

The automotive gear shifter market size is expected to see strong growth in the next few years. It will grow to $15.60 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the rising adoption of electric vehicles requiring advanced gear shifters, evolving autonomous driving technologies needing innovative gear shifters, growing disposable incomes boosting demand for advanced and luxury vehicles, post-pandemic recovery in global automotive production and ongoing regulations pushing for advanced transmission and gear shifter technologies. Major trends in the forecast period include gear shifters incorporating haptic feedback for better user interaction, widespread adoption of shift-by-wire technology, the trend towards lightweight and compact gear shifter designs, offering gear shifters in various materials and ergonomic designs and gear shifters increasingly integrated with advanced driver assistance systems (ADAS).

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Segmentation & Regional Insights

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

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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Major Driver Impacting Market Growth

The rising demand for luxury vehicles is expected to propel the growth of the automotive gear shifter market going forward. Luxury vehicles are high-end cars that offer superior levels of comfort, performance, and advanced features compared to standard vehicles. There is an increasing demand for luxury vehicles due to rising disposable incomes, technological advancements, and a growing preference for premium features and comfort. Automotive gear shifters are used in luxury vehicles to provide enhanced driving comfort and seamless performance. For instance, in January 2023, according to Porsche AG, a Germany-based automobile company, they delivered 80,767 cars in the first quarter and 320,221 cars over the past 12 months, representing a 15% gain in deliveries. In Europe, 36,574 vehicles were delivered, marking a 23% increase over the same period last year. Therefore, the rising demand for luxury vehicles is driving the growth of the automotive gear shifter market.

Key Industry Players

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

The automotive gear shifter market report table of contents includes:

1. Executive Summary
2. Automotive Gear Shifter Market Characteristics
3. Automotive Gear Shifter Market Trends And Strategies
4. Automotive Gear Shifter Market – Macro Economic Scenario
5. Global Automotive Gear Shifter Market Size and Growth
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32. Global Automotive Gear Shifter Market Competitive Benchmarking
33. Global Automotive Gear Shifter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Gear Shifter Market
35. Automotive Gear Shifter Market Future Outlook and Potential Analysis
36. Appendix

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