Global Selector Lever Market Report and Forecast 2024-2032

Global Selector Lever Market Outlook

The global selector lever market size is estimated to grow at a CAGR of 9.30% in the forecast period of 2024-2032. The market is being aided by the growing usage of selector levers to enhance the comfortability and driving experiences of vehicles.

Key Trends in the Market

A selector lever in an automobile refers to a lever or knob that is used to change the gear mode of a vehicle. This lever is usually found on the middle console of a vehicle and offers automatic transmissions such as park, reverse, neutral, drive, and low.

• Growing demand for selector levers that offer a comfortable driving experience by enhancing engine stability is one of the prominent selector lever market trends. Selector levers are not very complex to operate and offer easy transmission of gears in the vehicle.

• The burgeoning popularity of compact-sized selector levers that are designed to save space in a vehicle is another crucial trend aiding the market expansion.

• With the rising trend of sustainability, many vehicle manufacturers are utilising sustainable materials in the production of vehicles and their components such as selector levers to lower carbon emissions.

• The advent of high-end safety features such as a shift lock mechanism in the selector lever, which prevents the unintentional shear shift that can lead to accidents, also provides impetus to the selector lever market growth.

Market Analysis

Based on lever, the market is divided into mechatronic levers, mono stable levers, and miniaturised levers. On the basis of technology, the market is classified into automatic selector levers and manual selector levers.

The selector lever market segmentation, on the basis of application, includes commercial vehicles and passenger vehicles. The major regional markets of selector lever are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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. The report gives a detailed analysis of the following key players in the selector lever market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• SELZER Fertigungstechnik GmbH & Co. KG

• Bayerische Motoren Werke AG

• Dr. Ing. h.c. F. Porsche AG

• Suzuki Motor Corporation

• Ficosa Internacional SA

• Kongsberg Automotive

• Tokairika, Co, Ltd.

• Tata Motors Ltd.

• Volkswagen AG

• Others

Market Share by Technology

Automatic selector levers occupy a significant portion of the selector lever market share, owing to the shift in consumer preference from manual transmission to automatic systems. Automatic levers offer convenience for those who prefer a relaxed driving experience as they do not require any manual effort during the shifting of gears.

Additionally, these levers are better suited for long-distance travel as they require less physical effort and do not cause fatigue to the driver.

Market Share by Region

As per the selector lever market analysis, North America accounts for a sizeable share of the global market, due to the growing ownership of SUVs, which are mostly equipped with automatic selector levers. Favourable government initiatives to ensure the safety standards of the vehicle also offer lucrative opportunities for selector gears, which feature shift lock release.

Meanwhile, the robust popularity of sports cars in the region further fuels the demand for manual selector levers that offer drivers more control over their speed and acceleration.

Competitive Landscape

Bayerische Motoren Werke AG, best known as BMW, is a multinational luxury vehicle company, established in 1916. The company, based in Munich, Germany, manufactures and distributes high-performance vehicles and their related parts.

Volkswagen AG, founded in 1937, is an automotive company, with its headquarters in Wolfsburg, Germany. The company promotes sustainability through its projects such as the electrification of Spain and the recycling of carbon fibre composite material, among others.

Suzuki Motor Corporation, incorporated in 1909 and headquartered in Shizuoka, Japan, is a global automobile corporation. Some of its well-known models include Alto, APV, Celerio, Ciaz, Swift, SX4, and Vitara, among others.

Other selector lever market players include Tata Motors Ltd., Dr. Ing. h.c. F. Porsche AG, Tokairika, Co, Ltd., Kongsberg Automotive, Ficosa Internacional SA, and SELZER Fertigungstechnik GmbH & Co. KG, among others.

Key Highlights of the Report