A new report published by Transparency Market Research anticipates that the increasing demand for vehicles with semi-automatic and automatic transmission coupled with raised per capita income and increasing vehicle electrification will expand the global automotive advanced gear shifter system market during 2018-2026.
Advanced gear shifter systems are less reliable and complex and hence, these are more expensive than conventional gear shifter systems. This is a key factor restraining the global automotive advanced gear shifter system market.
The global automotive advanced gear shifter system market can be segmented based on technology, component, electric vehicle type, vehicle type, and region. Based on technology, the global automotive advanced gear shifter system market can be divided into two segments. X-by-wire technology is simple and inexpensive as compared to the automatic shifter. Therefore, the x-by-wire segment accounts for a major share of the global automotive advanced gear shifter system market. X-by-wire technology is extensively being used in luxury, premium, and several mid-segment vehicles too.
Asia Pacific and Latin America are witnessing a rapid increase in the number of passenger vehicles. Steady increase in income, rise in concern about vehicle sophistication, and increase in demand for luxury and premium vehicles are fueling the demand for advanced gear shifter system in Asia Pacific and Latin America. North America witnesses a high rate of adoption of advanced technologies. High per capita income and higher standard of living are propelling the demand for luxury vehicles across the region. North America comprises a considerable number of luxury vehicles and hence, the region accounts for a leading share of the global automotive advanced gear shifter system market.
Key players operating in the automotive advanced gear shifter system market include Ficosa Internacional SA, ZF Friedrichshafen AG, Lumax Industries, Kongsberg Automotive, DURA AUTOMOTIVE SYSTEMS, Stoneridge, SILATECH S.r.l., KÜSTER Unternehmensgruppe, Magneti Marelli S.p.A., and WABCO.
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