What are the latest figures on the automotive gear shifter market’s size and projected CAGR?
The automotive gear shifter market size has grown strongly in recent years. It will grow from $12.07 billion in 2024 to $12.9 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. 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 $16.61 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. 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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Which Market drivers have played a significant role in driving the automotive gear shifter market?
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.
What are the key segments within 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 key players are shaping 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 transformative trends will shape the automotive gear shifter market landscape?
Major companies operating in the automotive gear shifters market are focused on developing Automated Manual Gearbox to improve fuel efficiency, enhance driving comfort, and provide smoother gear transitions, while also reducing manual effort for the driver. An Automated Manual Gearbox (AMG) is a type of transmission system that combines the mechanics of a traditional manual gearbox with the automation of shifting gears. For instance, in June 2024, Yamaha, a Japan-based company that manufactures two-wheeler vehicles launched its new Y-AMT (Yamaha Automated Manual Transmission), an innovative gearbox designed for motorcycles that enhances the riding experience by offering both automatic and manual shifting options. This technology aims to simplify gear changes while maintaining a sporty feel, allowing riders to focus more on performance and control. The gearbox employs two electronic actuators—one for clutch operation and another for gear shifting. This design eliminates the need for complex mechanical linkages, allowing for smoother and more precise shifts compared to traditional systems.
How do regional factors impact the automotive gear shifter market, and which region is the largest contributor?
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.
What Does The Automotive Gear Shifter Market Report 2025 Offer?
The automotive gear shifter market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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