Automotive Gear Shifter Global Market Report 2024

The automotive gear shifter market size has grown strongly in recent years. It will grow from $11.33 billion in 2023 to $12.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed during the historic period can be attributed to several factors, including an increase in global vehicle production, the adoption of advanced automatic and dual-clutch transmission systems, growth in luxury and high-performance vehicles equipped with advanced gear shifters, the enforcement of strict emission norms promoting efficient transmission systems, and consumer demand for automatic and semi-automatic gear shifters for enhanced comfort.

The automotive gear shifter market size is expected to see strong growth in the next few years. It will grow to $15.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to several factors, including the rising adoption of electric vehicles necessitating advanced gear shifters, the evolution of autonomous driving technologies requiring innovative gear shifters, growing disposable incomes driving demand for advanced and luxury vehicles, post-pandemic recovery in global automotive production, and ongoing regulations pushing for advanced transmission and gear shifter technologies. Major trends expected in the forecast period include gear shifters incorporating haptic feedback for improved user interaction, widespread adoption of shift-by-wire technology, the trend towards lightweight and compact gear shifter designs, offering gear shifters in various materials and ergonomic designs, and gear shifters increasingly integrated with advanced driver assistance systems (ADAS).

The automotive gear shifter market is poised for growth, driven by the increasing demand for luxury vehicles in the foreseeable future. Luxury vehicles, known for their top-notch comfort, performance, and advanced features, are witnessing rising popularity due to factors such as growing disposable incomes, technological advancements, and a preference for premium amenities. In luxury vehicles, automotive gear shifters play a pivotal role in delivering enhanced driving comfort and smooth performance. For example, Porsche AG, a leading German automobile company, reported a significant uptick in deliveries, with 80,767 cars delivered in the first quarter and 320,221 cars over the past 12 months, marking a 15% gain. Notably, European deliveries saw a robust 23% increase compared to the previous year. Hence, the increasing demand for luxury vehicles is fueling the automotive gear shifter market's growth.

Key players in the automotive gear shifter market are prioritizing the development of advanced car functionalities, such as touchscreen gear-shifting mechanisms, to stay competitive. These mechanisms enable gear selection through a touchscreen interface, eliminating the need for traditional physical gear selector levers. Tesla Inc., a prominent US automotive company, introduced a groundbreaking update for the Model S and Model X cars in April 2021, featuring a touchscreen gear shifter. Unlike conventional vehicles with gear selector levers, these updated models rely solely on a touchscreen controller for shifting gears. Drivers can simply use a sliding selector icon on the touchscreen to switch between Drive (D) or Reverse (R), with Neutral (N) accessible through a shortcut menu.

In January 2023, Auto Gear Inc., a US-based designer and manufacturer of gearboxes and transmissions, completed the acquisition of Gear Motions, further enhancing its gearbox design and assembly capabilities. This strategic move enables Gear Motions to expand its service offerings to current customers. Gear Motions, also based in the US, specializes in providing automotive gear shifters.

Major companies operating in the automotive gear shifter market are Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, General Motors Co., Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Caterpillar Inc., ZF Friedrichshafen AG, Aisin Corporation, Eaton Corporation plc, Chang'an Automobile Co. Ltd., Magneti Marelli S.p.A., FAW Group Corp. Ltd., CLAAS, TREMEC Corporation, JATCO Ltd., Avtec Limited, Shanghai Automotive Transmission Co. Ltd., Hyundai Kefico Corporation, Colotti Trasmissioni.

Asia-Pacific was the largest region in the automotive gear shifter market in 2023. The regions covered in the automotive gear shifter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive gear shifter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An automotive gear shifter is a component utilized by the driver to alter gears within a vehicle's transmission system, enabling the selection of different gear ratios to control speed and torque for the wheels. Gear shifters come in two main types, manual, requiring the driver to manually select gears, and automatic, where gear changes are handled by the vehicle's transmission system.

The primary component types of automotive gear shifters include the electronic control unit (ECU), controller area network (CAN) model, and solenoid actuator. The electronic control unit (ECU) serves as a small computer responsible for managing various electronic systems within a vehicle, such as engine management, transmission, and brakes. Product types encompass manual transmission, automatic transmission, continuously variable transmission, and others, employing various technologies such as shift by wire and automatic shifter. These gear shifters accommodate multiple fuel systems including diesel, petrol, and gasoline, serving diverse applications such as passenger cars, light commercial vehicles, and heavy commercial vehicles.

The automotive gear shifter market research report is one of a series of new reports that provides automotive gear shifter market statistics, including the automotive gear shifter industry global market size, regional shares, competitors with the automotive gear shifter market share, detailed automotive gear shifter market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive gear shifter industry. These automotive gear shifter market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive gear shifter market consists of sales of joystick shifters, push-button shifters, and mechanical shifters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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