Automotive Advanced Shifter System Market Analysis By Type (Electronic shifters, Mechanical shifters, Others), By Technology (Automatic shifter systems, Semi-automatic shifter systems, Manual shifter systems), By Vehicle type (Passenger cars, Light commercial vehicles, Heavy commercial vehicles), By Sales channel (Original Equipment Manufacturers, Aftermarket) & Forecast By 2033
- PUBLISHED ON
- 2024-05-10
- NO OF PAGES
- 281
- CATEGORY
- Automotive & Transportation
Automotive Advanced Shifter System Market size was valued at around USD 10.5 billion in 2021 and is expected to grow at a CAGR of 5.8% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 10,500 million |
Market Forecast in 2033 | USD 18,160 million |
CAGR % 2023-2033 | 5.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production and consumption data by countries, company sales, revenue, gross margin, pricing and production capacity |
Key Companies | ZF Friedrichshafen AG, Kongsberg Automotive, GHSP, Ficosa International, DURA Automotive Systems, Kostal Group, Kuster Holding, F.TECH INC., Fuji Kiko Co., Ltd., Zhejiang Inte Industrial Electric Co., Ltd |
Covid-19 Impact:
The global automotive industry has been significantly impacted by the COVID-19 pandemic, and the automotive advanced shifter system market is no exception. The pandemic has disrupted global supply chains, leading to shortages of raw materials and components, and has caused a decline in demand for vehicles, resulting in reduced production and sales of advanced shifter systems.
However, the market is expected to recover gradually as the automotive industry recovers from the pandemic. The shift towards electric and hybrid vehicles, as well as the increasing adoption of advanced driver assistance systems (ADAS), is expected to drive the demand for advanced shifter systems. The growing demand for comfortable and safe driving experience is also expected to boost the adoption of advanced shifter systems.
The pandemic has also led to an increased focus on hygiene and cleanliness, which is expected to drive the demand for contactless shifter systems. Several companies are developing contactless shifter systems that can be operated using hand gestures or voice commands, which is expected to become increasingly popular in the post-pandemic period.
Overall, while the COVID-19 pandemic has had a short-term impact on the global automotive advanced shifter system market, the long-term prospects remain positive, driven by the increasing demand for advanced technologies and the growing adoption of electric and hybrid vehicles.
Market Dynamics:
Drivers:
- Increasing demand for electric and hybrid vehicles: The shift towards electric and hybrid vehicles is expected to drive the demand for advanced shifter systems, as these vehicles require advanced technologies to manage power delivery and optimize the driving experience.
- Growing demand for advanced driver assistance systems (ADAS): The increasing adoption of ADAS in vehicles is expected to drive the demand for advanced shifter systems, as these systems require precise control over the vehicle's transmission and power delivery.
- Focus on improving driving experience: The automotive industry is increasingly focused on improving the driving experience of vehicles, which is expected to drive the adoption of advanced shifter systems that provide smooth and precise gear changes, as well as enhanced safety and comfort for the driver and passengers.
- Technological advancements: The increasing use of electronic control units (ECUs), sensors, and actuators in advanced shifter systems is expected to drive the development of more advanced and efficient systems, leading to improved performance, reliability, and cost-effectiveness.
- Increasing demand for contactless shifter systems: The COVID-19 pandemic has led to an increased focus on hygiene and cleanliness, which is expected to drive the demand for contactless shifter systems that can be operated using hand gestures or voice commands.
Restraints:
- High cost of advanced shifter systems: The advanced shifter systems are more expensive than the traditional ones, which may limit their adoption in cost-sensitive markets.
- Limited awareness and acceptance of advanced shifter systems: Many consumers are still unaware of the benefits of advanced shifter systems, and may prefer traditional systems due to their familiarity and ease of use.
- Technological complexity: The advanced shifter systems are more complex than traditional systems, and require a high level of technical expertise to design, develop, and manufacture, which may limit the availability of skilled labor and drive up the costs.
Regional Analysis:
North America: The North American market for automotive advanced shifter systems is expected to grow significantly due to the increasing demand for luxury vehicles with advanced features, as well as rising concerns about vehicle safety and fuel efficiency. The United States is the largest market in the region, followed by Canada and Mexico.
Europe: Europe is expected to be a major market for automotive advanced shifter systems due to the high adoption rate of advanced technologies in the automotive sector. Germany, France, and the UK are the largest markets in the region.
Asia-Pacific: The Asia-Pacific region is expected to witness the fastest growth in the market due to the increasing demand for passenger cars and commercial vehicles in emerging economies such as China, India, and Japan. The region is also home to some of the world's largest automotive manufacturers and suppliers.
Latin America: Latin America is expected to witness moderate growth in the market due to the increasing demand for passenger cars and commercial vehicles, as well as rising disposable incomes and urbanization.
Middle East & Africa: The Middle East & Africa market for automotive advanced shifter systems is expected to witness slow growth due to the limited adoption of advanced technologies and low demand for passenger cars and commercial vehicles in the region.
Competitive Landscape:
The global automotive advanced shifter system market is highly competitive, with several players operating in the market.
- ZF Friedrichshafen AG
- Kongsberg Automotive
- GHSP
- Ficosa International
- DURA Automotive Systems
- Kostal Group
- Kuster Holding
- F.TECH INC.
- Fuji Kiko Co., Ltd.
- Zhejiang Inte Industrial Electric Co., Ltd.
These companies are focusing on product innovation and development, strategic partnerships, and mergers and acquisitions to expand their market presence and increase their revenue. Moreover, the companies are also investing in research and development activities to improve the performance of the advanced shifter systems and enhance the driving experience of the customers. With the increasing demand for advanced shifter systems in the automotive sector, the competition among the players in the market is expected to intensify further in the coming years.
Market Segmentation:
By Type:
• Electronic shifters
• Mechanical shifters
• Others
By Technology:
• Automatic shifter systems
• Semi-automatic shifter systems
• Manual shifter systems.
By Vehicle type:
• Passenger cars
• Light commercial vehicles
• Heavy commercial vehicles
By Sales channel:
• Original Equipment Manufacturers
• Aftermarket
Region
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
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Case Study- Automotive Sector
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Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
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Case Study- ICT Sector
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Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global automotive advanced shifter system market size was valued at around USD 10.5 billion in 2022 and is expected to grow at a CAGR of 5.8% during the forecast period.
What are the drivers shaping various markets?
The shift towards electric and hybrid vehicles is expected to drive the demand for advanced shifter systems, as these vehicles require advanced technologies to manage power delivery and optimize the driving experience.
Who are the key competitors of market Players?
Some of the major players operating within the market are ZF Friedrichshafen AG, Kongsberg Automotive, GHSP, Ficosa International, DURA Automotive Systems, Kostal Group, Kuster Holding, F.TECH INC., Fuji Kiko Co., Ltd., Zhejiang Inte Industrial Electric Co., Ltd.
What are the top performing segments, and countries / regions of each of the markets?
Europe is expected to be a major market for automotive advanced shifter systems due to the high adoption rate of advanced technologies in the automotive sector. Germany, France, and the UK are the largest markets in the region.
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