Automotive Advanced Shifter System Market Analysis By Type (electronic shifters, mechanical shifters, and others), By Technology (automatic shifter systems, semi-automatic shifter systems, and manual shifter systems), By Vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), By Sales channel (original equipment manufacturers (OEMs) and aftermarket) & Forecast 2024-2035
- PUBLISHED ON
- 4/14/2023
- NO OF PAGES
- 252
- CATEGORY
- Automotive & Transportation
The global 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.
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.
Market Segmentation:
Type: The market can be segmented into electronic shifters, mechanical shifters, and others.
Technology: The market can be segmented into automatic shifter systems, semi-automatic shifter systems, and manual shifter systems.
Vehicle type: The market can be segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
Sales channel: The market can be segmented into original equipment manufacturers (OEMs) and aftermarket.
Region: The market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The global automotive advanced shifter system market is highly competitive, with several players operating in the market.
Some of the key players in the market include:
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.
Historic Year: 2016-2022
Forecast: 2024-2035
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