Automotive Gear Shifter Market annual growth rate is 4.4 percent
The global market for automotive gear shifter market is mainly related to the growing demand for automatic and semi-automatic transmission vehicles, together with a high per capita income and an increase in the electrification of vehicles. The growing demand for comfort during the trip is rapidly driving the market for automotive gear shifting systems.
Automotive Gear Shifter Market Size and Growth Rate:
Automotive Gear Shifter Market was valued at USD 2.6 Billion in 2017 and expected to grow at a CAGR of 4.4% during the forecast period 2018 to 2025.
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Automotive Gear Shifter Market Growth Drivers and Restraints:
Governments in several countries provide subsidies and enforce strict emission standards to promote electric vehicles. The increase in demand for electric vehicles in North America and Europe is expected to boost the market during the forecast period. The growing demand for comfort during the trip is rapidly driving the market for automotive gear shifting systems.
Geographical Overview of Automotive Gear Shifter Market:
North America is witnessing a high rate of adoption of advanced technologies. The high per capita income and the high standard of living are driving demand for luxury vehicles in the region. North America has a considerable number of luxury vehicles and, as a result, the region occupies a leading position in the global market for automotive gear shifters.
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Key Players of Automotive Gear Shifter Market:
Some of the leading market players of Automotive Gear Shifter Market are Kongsberg, ZF, GHSP, SL Corporation, Sila, Ficosa, Fuji Kiko, Kostal, DURA and others.
Automotive Gear Shifter Market Segmentation:
By Product:
- Mechanical Gear Shifter
- Electronic Gear Shifter
By End Users/Applications:
- Passenger Vehicle
- Commercial Vehicle
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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