Global Advanced Gear Shifter System Market Report and Forecast 2024-2032

Global Advanced Gear Shifter System Market Outlook

The global advanced gear shifter system market stood at a value of around USD 13.16 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.50% to reach USD 23.15 billion by 2032.

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Growing Demand for Light-Duty Vehicles (LDV) to Aid the Advanced Gear Shifter System Industry

The demand for light-duty vehicles (LDV) has been growing owing to the lower cost of fuel, reduced environmental pollution, and high fuel efficiency offered by these vehicle types. Also, the frequency of repair in the case of LDV is quite less. Additionally, LDV is becoming popular, as it is cost-effective, attractive, and is subject to customisation. Furthermore, the deployment of advanced shifter technologies, including automatic shifter and shift-by-wire in mid-size and economy class of light-duty vehicles is expected to favour the market growth in the forecast period.

North America Accounts for a Significant Share in the Advanced Gear Shifter System Industry

The market for advanced gear shifter system in the Asia Pacific is driven by the increasing production of commercial and passenger cars owing to the thriving automotive industry in countries like China, India, and others. The market is supported by the steady economic growth in emerging economies of the continent. In addition to this, the rising disposable income and the rapidly growing population in the region are likely to propel the demand for luxury automobiles with automated manual transmission, thereby enhancing the product demand.

Advanced Gear Shifter System: Market Segmentation

Advanced gear shifter system is defined as the arrangement and disarrangement of gears, which allows the car to work on the principle of advanced technologies. Advanced gear shifter system uses lever and electronic system to engage or disengage gear. Being an electronically controlled system, advanced gear shifter can identify when a driver changes the gear, thus, facilitating various operations.

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Based on technology, the market can be segmented into:

• Automatic Shifter
• Shift-By-Wire (SBW)

By component, the market has been segmented into:

• Can Module
• Electronic Control Unit (ECU)
• Solenoid Actuator
• Others

The different vehicle types in the market include:

• Light-Duty Vehicles (LDV) 
• Commercial Vehicles

Among these, the light-duty vehicles (LDV) segment is further divided based on type into economy class, mid-size class, and luxury class.

The segmentation of the market based on electric vehicle include:

• Battery Electric Vehicle
• Fuel Cell Electric Vehicle
• Plug-In Hybrid Electric Vehicle

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Application of Advanced Gear Shifter System in Commercial Vehicles to Boost the Growth of the Advanced Gear Shifter System Industry

The rising application of advanced gear shifter system in commercial vehicles is driving the global advanced gear shifter system industry. The increasing demand for advanced gear shifter system in commercial vehicles can be attributed to the smooth and quick gear impulse achieved by the vehicles through the incorporation of this system. Moreover, the changing consumer preference towards automated manual transmission (AMT) to achieve improved vehicle performance even in high traffic areas is anticipated to boost the market growth. Hence, the global advanced gear shifter system industry is likely to witness a steady growth in the forecast period.

Key Industry Players in the Global Advanced Gear Shifter System Market

The report gives a detailed analysis of the following key players in the global advanced gear shifter system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• ZF Friedrichshafen AG
• Kongsberg Automotive Holding ASA
• Delta Kogyo Co., Ltd.
• Dura Automotive Systems
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report