Burgeoning demand for automobiles in both developing and developed economies coupled with the growing production of electric vehicles is expected to fuel automotive gear shift system market proliferation which was valued at US$ 22 billion in 2018 and is estimated to witness a steady growth at a CAGR of over 4.5% during 2018-2028.
Resurgence in the sales of automobiles during the 2013-2017 period bolstered automotive gear shift system market growth which witnessed a CAGR of 3.7% during the period.
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What are the issues that the market’s players in the automotive gear shift system need to address?
Surge in the prices of non-ferrous raw materials and their alloys continue to be a longstanding challenge for gear shift system market. Increasing regulatory pressure to streamline mining processes to substantially reduce the harmful impacts of the procedure on the environment is a key cause expected to create a significant surge in the prices of raw materials.
Demand for lightweight and durable alternatives to conventional materials in electric vehicles will entail migration to new systems and technologies, and pose challenges to the existing status-quo.
Consumers in China and India – two of the prominent markets for automotive industry – are extremely cost-sensitive and expect quality features at affordable costs. Gear shift system manufacturers are under increasing pressure to offer competitively-priced products without compromising on the quality in these lucrative markets.
Automotive Gear Shift System Market – Competitive Landscape
- To capitalize on the growing demand for affordable vehicles in India and Asia, ZF Friedrichshafen AG, a leading player in the automotive gear shift system market, announced the launch of a new electrified clutch which functions to improve the efficiency of manual transmission in automobiles. The company plans to market the product as a way to enhance fuel efficiency in vehicles using manual transmission gear shifting systems.
- In order to stay at pace with the changing automobile industry, Eissmann Automotive Deutschland GmbH expanded its Pell City facility adding a 130,000 square-foot building to the existing infrastructure in the region. The facility is equipped with advanced manufacturing equipment which will be used for a new production line set to be unveiled by the Germany-based automotive gear shift system manufacturers.
- A recent development complementing innovations in the automotive gear shift system market was the development of a novel gear shift mechanism which uses two electromagnetic actuators to improve the mechanical efficiency and dynamic response of manual transmission systems. The study suggests the technique could potentially pave the way for the adoption of automated manual transmission systems in electric vehicles.
Some of the leading players operating in the automotive gear shift system market include Kongsberg Automotive ASA, SL Corporation, GHSP, Inc., Ficosa International, S.A., Fuji Kiko Co., Ltd., Leopold Kostal GmbH & Co. KG, Tokai Rika Co., Ltd., Jopp Holding GmbH, and Dura Automotive Systems, LLC.
Key Segmentation :
- Gear Type
- Shift By Wire
- Mechanical Linkage
- Sales Channel
- Vehicle Type
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?
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