Market Summary
The Global Automotive Advanced Shifter System Market is perceived to exhibit remarkable growth and expand at a CAGR of 6% over the forecast period of 2018–2023, reveals Market Research Future (MRFR) in a minutely analysed research report. Advanced shifter system comprises gearshift, design style, and control cables which assist the driver in monitoring the speed of the vehicle, thus, ensuring safety and efficiency. Increased concerns regarding the performance of automobiles and high demand for speed and efficiency are driving the market for advanced shifter systems. Growth in the automotive industry coupled with growing disposable income in both developed and developing countries induce high demand for automotive advanced shifter systems. High demand for shift by wire technology is another factor influencing the growth of the market.
Moreover, continuous investment in R&D activities by manufacturers have resulted in the development of the technology which has facilitated better and improved designing of automotive advanced shifter systems. Moreover, the influx of new market players who are actively manufacturing advanced shifter systems as OEMs also support market growth. However, the complex manufacturing process of advanced shifter systems and reliability issues associated with advanced shifter systems are likely to restrain the growth of the market over the forecast period. Customer dissatisfaction remains a significant hurdle for market growth.
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Industry Updates
- In February 2018, ESCORT, the leader in premium radar and laser detection technology, announced the launch of two new laser shifter products. Named ESCORT ZR5 and ESCORT ZW5, the new shifter systems seamlessly integrate into vehicles and provide the most advanced ticket protection.
- In March 2018, Rohloff, a German manufacturer of hub gears, bicycle chains, and other tools, introduced a new electronic shifter system which is said to have the widest transmission ratio on the market.
Market Segmentation
The global automotive advanced shifter system market has been segmented based on technology, component, fuel type, and vehicle type. By technology, the market has been segmented into automatic, manual, and shift by wire. By component, the market has been segmented into CAN module, ECU, solenoid actuator, and others. By fuel type, the market has been segmented into petrol, diesel, and gasoline. By vehicle type, the market has been segmented into a passenger car, commercial vehicle, and electric vehicle.
Regional Analysis
North America, Europe, Asia Pacific, and the Rest of the World are the key markets of the global automotive advanced shifter system. Asia Pacific held the largest share of the global market in 2017 and is expected to continue its dominance over the forecast period. The sales of the automobile have increased considerably in the economies of China, Japan, India, Thailand, and Indonesia owing to growing urbanization and purchasing power of consumers which has boosted the growth of the Asia Pacific market. Furthermore, initiatives to increase awareness regarding efficient vehicle shifter system will enhance the Asia Pacific market growth. Europe market is driven by stringent government norms which raise adoption of automotive advanced shifter system. Europe is expected to be the second largest market over the forecast period.
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Competitive Landscape
The remarkable players in the global automotive advanced shifter system market include Dura Automotive (US), Jopp Group (Germany), Remsons Industries Ltd. (India), SILATECH S.r.l. (Italy), Küster Holding GmbH (Germany), Ficosa (Spain),WABCO (Belgium), Robert Bosch GmbH (Germany), Kongsberg Automotive (Norway), and ZF (Germany).
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