What Is The Current and Historic Market Size Analysis Of The Advanced Gear Shifter System Market?
The advanced gear shifter system market has seen considerable growth due to a variety of factors.
• The advanced gear shifter system market is expected to grow from $13.55 billion in 2024 to $14.74 billion in 2025 at a CAGR of 8.8%.
The growth is attributed to the increase in automotive systems, the adoption of cable shifting, vehicle electrification, consumer focus on vehicle performance, and the demand for smoother and faster gear shifts.
What Are The Predictions for The Advanced Gear Shifter System Market Size?
The advanced gear shifter system market is expected to maintain its strong growth trajectory in upcoming years.
• The advanced gear shifter system market is projected to grow to $20.4 billion by 2029, at a CAGR of 8.5%.
Growth is attributed to higher sales of mid-size and luxury vehicles, the increased use of x-by-wire technology, a shift toward automatic and semi-automatic transmissions, and a focus on driving comfort and fuel efficiency. Trends include advanced shifter technologies, improved vehicle connectivity, autonomous driving tech, wire technology, and shift-by-wire integration.
Which Factors Are Boosting Growth In The Advanced Gear Shifter System Market?
The rise in luxury vehicle sales is likely to foster the growth of the advanced gear shifter system market. Luxury vehicles, known for their superior comfort, advanced technology, and high-end materials, are seeing higher sales due to factors like a desire for prestige and access to financing options. Advanced gear shifter systems are commonly used in luxury vehicles to improve the driving experience, offering smooth, customizable gear shifts. For example, in April 2024, Tesla reported a 37.24% increase in production and delivery totals for luxury electric vehicles, from $21.454 billion in 2022 to $24.32 billion in 2023. Thus, the rise in luxury vehicle sales is contributing to the growth of the advanced gear shifter system market.
What Are The Core Segments Of The Global Advanced Gear Shifter System Market?
The advanced gear shifter system market covered in this report is segmented –
1) By Component: Solenoid Actuator, Electronic Control Unit (ECU), CAN Module, Other Components
2) By Technology: Automatic Shifter, Shift-By-Wire (SBW)
3) By Vehicle Type: Light Duty Vehicle, Commercial Vehicle, Electric Vehicle, Other Vehicle Types
Subsegments:
1) By Solenoid Actuator: Linear Solenoid, Rotary Solenoid, Push Or Pull Solenoid
2) By Electronic Control Unit (ECU): Transmission Control ECU, Engine Control ECU, Integrated ECU
3) By CAN Module: High-Speed CAN Module, Low-Speed CAN Module, CAN FD Module
4) By Other Components: Sensors, Wiring and Connectors, Hydraulic Components
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Which Emerging Trends Are Reshaping The Advanced Gear Shifter System Market Size?
Companies operating in the advanced gear shifter system market are focusing on innovations like electronic clutch control systems to improve vehicle performance and integrate with advanced driver-assistance systems (ADAS). For example, in November 2023, Honda Motor Co. Ltd., a Japan-based automobile company, introduced the first electronic clutch control system for manual motorcycle transmissions. This system optimizes clutch control based on multiple sensor inputs, enhancing vehicle dynamics and supporting automation in the automotive industry.
Who Are the Key Players In The Advanced Gear Shifter System Market?
Major companies operating in the advanced gear shifter system market are:
• TOKAI RIKA CO Ltd.
• Robert Bosch GmbH
• Varroc Group
• ZF Friedrichshafen AG
• Denso Corporation
• Atsumitec Co Ltd.
• Magneti Marelli S.p.A.
• Kostal Group
• Ficosa Internacional SA
• Remsons Industries Ltd.
• Eissmann Group Automotive
• Ficosa
• M&T Allied Technologies Co. Ltd.
• Fujikiko Co. Ltd.
• Kongsberg Automotive GmbH
• Dura Automotive Systems Inc.
• Stoneridge
• GHSP
• Kapsch Components
• Delta Kogyo Co. Ltd.
• Lumax Industries
• SL Corporation
• Sila Group
• Leopold Kostal GmbH & Co. KG
• Orscheln Products
• Jopp Technology Co. Ltd.
What Are The Regional Insights Into The Advanced Gear Shifter System Market?
North America was the largest region in the advanced gear shifter system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced gear shifter system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
