Automotive Advanced Shifter System Market Overview
The Automotive Advanced Shifter Market is projected to grow from USD 7201.45 million in 2021 to USD 13700 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.69% during the forecast period (2023–2032).
The advanced gear shifter system is an electronic-controlled system that is in charge of gear engagement and disengagement. It employs a lever and an electrical system to engage/disengage or change gears in response to the driver's needs. Gear shifting can be a taxing process in a manual transmission system; however, sophisticated gear shifter technology eliminates this. When the driver shifts gears, this system detects it and activates the clutch and a solenoid actuator to control gear engagement, disengagement, and shifting. The Advanced Gear Shifter System Market Share has benefited as a result of this during the Automotive Advanced Shifter System Market Analysis.
COVID 19 Analysis
Due to poor or nearly nonexistent automobile sales or new requirements as a result of the COVID-19 epidemic hitting the automotive sector, the Transmission Market suffered a drop in market share. Although automatic transmissions are used in around 90% of automobiles in the United States, mileage-sensitive and large-scale markets like India are still slowly converting to automatic transmissions. Drivers all around the world are increasingly opting for automatic transmission, which will enable the industry to service the epidemic and produce good numbers after COVID-19. Apart from just transmitting an engine's power to the wheels, the vehicle transmission system has many advantages. Due to excessive traffic and congestion, as well as overcrowded streets, the Automotive Advanced Shifter System Market Growth vehicles has increased over the last three years, particularly in developing countries such as India and China.
Market Dynamics
The worldwide automotive advance shifter system market is being driven by rising concerns about automobile performance and rising demand for automotive advance shifter systems due to their ability to provide high efficiency and meet consumer speed demands. The global market will be driven even further by the rapidly expanding demand for a change to wire technology. The global automotive advance shifter system market is predicted to grow in response to the growing demand for shift-by-wire technology. During the projected period, it is expected that shift-by-wire technology will become more widely available in automobiles, increasing Automotive Advanced Shifter System Market Size and Automotive Advanced Shifter System Market Share for the automotive advanced shifter system. Increased demand for automobiles with semi-automatic and automatic transmissions, increased use of shift-by-wire, and precise and quick-response technologies are some of the drivers driving the industry. However, in the coming years, the industry is likely to benefit from rising demand for automated and hybrid transmissions in developing nations, as well as haptics shifters in future automobiles. The gearshift, control wires, and design style make up the majority of the car's advanced shifter system. The advanced shifter mechanism in automobiles will allow the driver to swiftly and safely select the vehicle's speed. The majority of the inputs and requirements for the vehicle's advanced shifter system come from customers. This boosts performance while also ensuring a high level of dependability and cost savings.
Design complexity and maintaining needed reliability are important limitations for the global automobile advanced shifter system market. Manufacturers in the worldwide automotive advanced shifter system market are most concerned with customer happiness. Furthermore, the complexity and lack of reliability of advanced gear shifter systems, as well as their expensive price compared to standard gear shifters, are limiting the Automotive Advanced Shifter System Market Growth. Four planetary gear sets and five shift elements make up the new gear set design, which helps to reduce drag and enhance transmission efficiency. The hydraulic impulse oil storage (HIS) option provides a start/stop feature, which can help you save money on gas. This new automatic transmission is hybrid-ready and may be used with any AWD diving idea, including AWD center differential integrated, integrated AWD system, and hang-on AWD.
Manufacturers are continuously increasing their investment in technology research, which will allow for better design of automobile advanced shifter systems. Many new manufacturing companies on the market are actively producing advanced shifter systems as original equipment manufacturers for the world's leading automobile manufacturers. The rising usage of x-by-wire technology in vehicles is one of the market's primary growth drivers. The advancement of x-by-wire technology, which is a critical component for semi-autonomous and autonomous vehicles, can provide sophisticated gear shifting system manufacturers with new income prospects. Shift-by-wire technology is currently finding a wide range of uses in all types of automobiles. The upward trend is projected to continue.
Segment Overview
The Automotive Advanced Shifter System Market is further bifurcated into various segments depending on various factors to help the market grow as per the predicted CAGR growth by the end of the Automotive Advanced Shifter System Market Forecast period in 2030.
The market has been segmented based on the following:
- Based on the technology, the market has been segmented as follows:Automatic, manual Shift by wire
- Based on the components, the market has been segmented as follows:CAN modules, ECU Solenoid actuatorsOthers
- Based on the fuel type, the market has been segmented as follows:Petrol, Diesel, Gasoline
- Based on the vehicle type, the market has been segmented as follows:Passenger cars, Commercial vehicles, Electric vehicles
- Based on the region, the market has been segmented as follows:North America, Europe, Asia-Pacific The Rest of the World (RoW)
Regional Classification
Due to the rising awareness about safety, growing urbanization, and the growing aftermarket industry, Asia-Pacific is expected to hold the greatest revenue market share throughout the projected period, boosting the market size in Asia-Pacific. Furthermore, rising automobile production and sales will fuel the market for automotive advanced shifter systems in Asia-Pacific. During the projection period, the Asia Pacific market is expected to hold the highest market share and increase at a considerable CAGR. The region's market growth can be attributable to increased vehicle production and car adoption of advanced shifter technology. The expansion of prominent OEMs and automotive component suppliers in developing markets such as China and India is expected to fuel regional growth during the Automotive Advanced Shifter System Market Analysis.
Competitive Landscape
Manufacturers of transmission systems are motivated to develop cost-effective options without sacrificing vehicle performance. Dealers are concentrating on globalization and developing innovative items to comply with emission regulations. As a result, dealers are collaborating with native partners, while OEMs are focusing on creating innovative technologies to reduce production costs while providing market-leading solutions. To achieve a major Advanced Gear Shifter System Market share, these companies have used various techniques such as expansion and new product development. The major Automotive Advanced Shifter System Market Key Players are as follows: Dura Automotive (US)Ficosa (Spain)Kongsberg Automotive (Norway)ZF (Germany)WABCO (Belgium)Jopp Group (Germany)SILATECH S.r.l. (Italy) Remsons Industries Ltd. (India)Kuster Holding GmbH (Germany)Robert Bosch GmbH (Germany)
Recent Developments
February 2024 saw Cloyes Gear & Products, Inc. (“Cloyes”), which is a well-known industry leader that concentrates solely on critical timing drive systems and components for the automotive aftermarket, declare its buying of Automotive Tensioners, Inc. (“ATI”), the company based in Denton, TX. ATI is known to be a major supplier of front-end accessory drive pulleys and tensioners for the automotive aftermarket, thus strengthening Cloyes’ recognition in the sector.
In September 2023, Lumax Industries made a significant stride in the Advanced Gear Shifter System Market by unveiling a groundbreaking shift-by-wire technology integrated with advanced electronic control units (ECUs).
For example, Hyundai Mobis in October 2021 developed an innovative system for folding the steering wheel of a car and placing it on top of the dashboard. In terms of bigger space for the driver's seat, this system can move back and forth up to 25 centimeters (9.8 inches).
In April 2021, Tesla introduced the Model X and Model S gear-shifter touchscreen.
Report Overview
This report includes an analytical depiction of the Automotive Advanced Shifter System Market, as well as current trends and future projections to show potential investment areas. The entire market potential is estimated to get a better foothold in the Automotive Advanced Shifter System Market sector by understanding profitable trends. With a full impact analysis, the paper gives information on major drivers, restrictions, and possibilities in the Automotive Advanced Shifter System Market. To gauge financial competency, the Automotive Advanced Shifter System Market is quantitatively analyzed. The report shows how powerful buyers and suppliers are in the sector. The study provides market size and forecasts for the Automotive Advanced Shifter System Market for all of the segments listed above. The study examines the primary driving and limiting forces in the international Automotive Advanced Shifter System Market in-depth. This study includes a quantitative examination of the present market as well as estimates to help identify market opportunities.
| Report Attribute/Metric |
Details |
| Market Size 2021: |
USD 7201.45 Million |
| Market Size 2032: |
USD 13700 Million |
| CAGR |
6.69% (2023-2032) |
| Base Year |
2021 |
| Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
By Technology, By Application, By Vehicle type, By Component, |
| Geographies Covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors |
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) |
| Key Market Opportunities |
Rapid growing demand for a shift by wire technology |
| Key Market Drivers |
· High efficiency · To satisfy customer speed |
Automotive Advanced Shifter System Market Highlights:
Frequently Asked Questions (FAQ) :
The market recorded for a CAGR of ~6.69%.
The amplified concerns over the automobile performance and increasing demand for automotive advance shifter systems are the major factors driving the global automotive advance shifter system market.
The technology, component, fuel type, vehicle type are the segments of the market.
The major regions of the market are North America, Europe, Asia-Pacific.
Ficosa (Spain), Kongsberg Automotive (Norway), Dura Automotive (US), WABCO (Belgium), ZF (Germany), and Jopp Group (Germany) are the key competitors of the market.
