Aug 12, 2019 (AB Digital via COMTEX) -- Automotive Gear Shift System Market growing at 6.56% CAGR during 2019 to 2023, according to “Automotive Gear Shift System Market 2019 Global Industry Analysis Research Report”, published by Market Research Future.Global Automotive Gear Shift System Market Information by System Type (Automatic System, and Manual System), by Fuel Type (Petrol, Diesel, and Gasoline), by Application (Passenger Car, LCV, and HCV), with region forecast to 2023.
Global Automotive Gear Shift System Market Forecast Highlights:
Major players in the global automotive gear shift system market include Aisin Seiki Co., Ltd. (Japan), Allison Transmission (USA), BorgWarner Inc. (USA), Continental AG (Germany), Eaton Corporation PLC (Republic of Ireland), GKN PLC (UK), Magna PT (Germany), JATCO Ltd. (Japan), Magna International Inc. (Canada), and ZF Friedrichshafen AG (Germany).
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According to Market Research Future (MRFR)’s assessment, the global automotive gear shift system market is expected to exhibit a CAGR of 6.56% during the forecast period 2019 to 2023. Gear shift system is a crucial component of a vehicle used to accelerate or decelerate while driving. The increasing sales of automobiles is the primary factor expected to drive the growth of the market in the upcoming years.
The leading factors enhancing the global automotive gear shift system market growth include stringent government regulations regarding vehicle safety (and road safety), increase in demand for the fuel-efficient gear system, and increase in the sales of vehicles. The fourth factor highlighting market growth is the advancement of technologies. Increasing use of electronic gear shift system instead of manual gear shift system is changing the driving experience and making driving simple. Other factors backing the market growth include research and development (R&D) for better automotive gear shift systems, growth of the automotive industry, and the introduction of electric vehicles.
Technological innovations in the industry have led to a shift from manual gear shift systems to an automated one. Automated gear systems are widely adopted by high-end car manufacturers. The growing demand for luxury cars is anticipated to accelerate revenue generation for the players of the automotive gear shift system market across the review period.
On the flipside, the automotive gear shift system market can get leashed by the high price of the raw materials. This can spike the total cost of the car against the consumers which can deter the regular market growth.
Automotive Gear Shift System Market Segmentation:
The global automotive gear shift system market can be segmented by type, fuel system, and application.
Based on type, the automotive gear shift system market can be segmented into automatic system and manual system.
Based on fuel system, the automotive gear shift system market includes petrol, diesel, and gasoline.
Application-wise, the automotive gear shift system market can be segmented into passenger cars, light commercial vehicle, and heavy commercial vehicle.
Automotive Gear Shift System Market Regional Analysis:
The regional segmentation of the global automotive gear shift system market covers Asia Pacific, North America, Europe, and Rest of the World (RoW).
Asia Pacific is expected to dominate the market for automotive gear shift system and retain its dominance over the next couple of years. The growth of the regional market can be attributed to the rising demand for automobiles backed by the increasing purchasing power of the population. The region has also become the manufacturing hub of automobiles which is poised to catapult the automotive gear shift system market on upward trajectory. Also, the boost witnessed in the sales of passenger vehicles is expected to provide impetus to market growth.
Europe is assuming the second spot with market giants such as BMW, Mercedes spending millions on developing better technology. Government regulations regarding fuel emission are also stringent in the region owing to which cars with auto-gears are getting traction. High disposable income of the people is also an effective factor. North America is also witnessing a boom in the market. With the automotive sector getting revamped, the regional market can hope for further growth in coming years.
In North America, the market is stable due to technological advancement and established automotive sector. The U.S. and Canada are the biggest country-specific markets due to the high disposable income of people living in these countries.
Table Of Content
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
5 GLOBAL AUTOMOTIVE GEAR SHIFT SYSTEM MARKET, BY TYPE
5.2 AUTOMATIC SYSTEM
5.2.1 MARKET ESTIMATES & FORECAST, 2018-2023
5.2.2 MARKET ESTIMATES & FORECAST BY REGION, 2018-2023
5.3 MANUAL SYSTEM
5.3.1 MARKET ESTIMATES & FORECAST, 2018-2023