Automotive Gear Shift System Market
Automotive Gear Shift System Market Analysis By Gear Type (Stick, Joystick, Rotary, Stalk, Push Button), By Transmission Type (Automatic, Manual), By Vehicle Type (Passenger, Commercial), By Sales Channel (OEMs, Aftermarket) and Region - Global Market Insights (2023 to 2033)
Analysis of Automotive Gear Shift System Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive Gear Shift System Market Outlook (2023 to 2033)
The global automotive gear shift system market is forecasted to expand at 4.8% CAGR from 2023 to 2033. As such, worldwide sales of automotive gear shift systems are projected to increase from US$ 27.1 billion in 2023 to US$ 43.5 billion by the end of 2033.
A gear shift system in a vehicle is used to alter the output speed from the transmission as per the driver’s requirements. Gear shift systems are essential for the proper functioning of the vehicle and improve fuel efficiency as well. The implementation of strict vehicle emission standards to reduce pollution around the world is slated to benefit sales of automotive gear shift systems going forward.
Advancements in technology are aiding automotive gear shift system manufacturers in the development of sophisticated gear-shifting mechanisms that can adapt autonomously to driving conditions and provide optimized performance for better fuel economy and vehicle efficiency. The introduction of novel and improved systems for testing and measuring the performance of automotive gear shift systems is helping manufacturers and end-users analyze and make necessary adjustments.
- In April 2023, Peugeot, a French automotive manufacturer debuted its gear shift actuator system in the second round of the FIA World Endurance Championship. The Peugeot LMH car featured hydraulic actuators to improve the reliability of the race car and eliminate issues that it had with electric actuators in the past.
Advanced testing systems will aid in the development of custom gear-shifting mechanisms and torque systems to help automotive manufacturers accommodate the evolving needs of consumers around the world.
Advancements in additive manufacturing are also projected to benefit automotive gear shift system demand as it will allow companies to experiment with the combination of efficient and cost-effective techniques for the production of complex components used in gear shifting systems in substantially less time as compared to the conventional manufacturing approach.
- Growing use of dual-clutch transmissions, sequential gearboxes, and shift-by-wire gear systems in luxury cars and hypercars is also slated to benefit automotive gear shift system market development throughout the study period.
On the contrary, a surge in the prices of non-ferrous raw materials and their alloys continues to be a longstanding challenge for automotive gear shift system suppliers. Increasing regulatory pressure to streamline mining processes to substantially reduce the harmful impacts of the procedure on the environment is a key cause slated to create a significant surge in the prices of raw materials.
Demand for lightweight and durable alternatives to conventional materials in electric vehicles will entail migration to new systems and technologies, and pose challenges to the existing status quo.
|Automotive Gear Shift System Market Size (2023)||US$ 27.1 Billion|
|Projected Market Value (2033F)||US$ 43.5 Billion|
|Market Growth Rate (2023 to 2033)||4.8% CAGR|
|China Market Growth Rate (2023 to 2033)||4.1% CAGR|
|Market Share of OEMs (2023)||60%|
|Asia Pacific Market Share (2023)||>30%|
|Key Companies Profiled||
Don't Need a Global Report?
save 40%! on Country & Region specific reports
What Market Opportunities Can New Companies Capitalize On?
“Rising Demand for Gear Shift Systems for Electric Vehicles”
As the world focuses on moving towards sustainable mobility solutions, the popularity and sales of electric vehicles are projected to surge significantly over the next ten years and beyond. Electric vehicle gear shift systems are vastly different from the conventional ones that have been used for years in vehicles as electric vehicles already have a high amount of torque on offer.
Shift toward EVs is not an easy one as drivers and car enthusiasts all over the world have been raging about missing the fun and thrill of driving a manual shifter vehicle. Automotive gear shift system start-ups can focus on the development of new gear systems that allow EVs to mimic the same feel of a manual shifter-operated vehicle. Innovation is projected to be of utmost importance for incoming as well as established automotive gear shift system manufacturers in the future.
- In June 2023, Toyota, a renowned Japanese automotive manufacturer revealed that it was working on making next-generation electric vehicles that could mimic manual gear shifts and even possibly stall if drivers put it into the wrong gear. This could bring manual gear auto enthusiasts to try and opt for electric vehicles over the coming years.
Learn more about how start-ups can learn more about aspects such as local supply, pricing trends, product standards, safety regulations, and new developments in this automotive gear shift system market research analysis by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
No doubt investing in Asian countries such as India, China, and Japan will pay off for automotive gear shift system vendors in one way or another. Automotive gear shift system suppliers should also focus on Germany, the United States, Italy, Brazil, and Mexico if they want to improve their market presence on a global level.
What is the Significance of India and China in this Market?
“Growing Automotive Production and Sales Creating Lucrative Business Opportunities”
Asian countries such as India and China have been witnessing a prominent hike in automotive production in recent years and this is slated to bolster shipments of automotive gear shift systems through 2033. Increasing disposable income of people in these countries is also promoting sales of vehicles thereby boosting automotive gear shift system demand as well.
- Sales of automotive gear shift systems in India are set to rise at 3.1% CAGR over the next ten years.
High availability of cheap labor and abundance of raw materials coupled with supportive government initiatives to promote manufacturing activity is also forecasted to attract automotive gear shift system producers to Asian economies such as India and China. Japan and South Korea are also predicted to emerge as highly profitable markets in the Asian region across the study period.
- Automotive gear shift system shipments in China are forecasted to increase at 4.1% CAGR from 2023 to 2033.
Why is Germany Seen as a Highly Profitable Country in This Market?
“Presence of Key Automotive Manufacturers in the Country”
Germany is home to some of the most significant automotive companies in the world and this is what makes it a highly coveted space for all types of automotive component suppliers. Advancements in gear shift technology and rising demand for novel automotive gear shift systems are also projected to benefit automotive gear shift system demand in the long run. Increasing production of electric vehicles and hybrid vehicles in the country is also slated to offer new opportunities for automotive gear shift system companies through 2033.
How Will Automotive Gear Shift System Sales Fare in the United States?
“Rising Popularity of Luxury Vehicles to Augment Product Sales Potential”
The high spending potential of the people of the United States is driving up the sales of luxury vehicles in the country. Luxury vehicles are preferred for their smooth drive and ride comfort, which is why these vehicles are equipped with advanced automatic gear shift systems. The increasing adoption of advanced automotive technologies by automotive companies in the country is also slated to bolster demand for novel automotive gear shift systems in the long run.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Gear shift system suppliers are focusing on providing products for automatic transmission as more and more people prefer to drive vehicles with automatic gear shift systems to avoid excessive labor in heavy traffic conditions.
Gear Shift Systems for Which Type of Transmission are Gaining Popularity?
“Gear Shift Systems for Automatic Transmissions to Lead Sales Growth”
Gear shift systems for automatic transmission are capable of automatically shifting through gears and provide a better ride quality and experience for the driver as well as passengers in the vehicle. Automatic gear shift systems have also been shown to improve the fuel economy of vehicles and this is why their implementation is forecasted to increase at a good pace across the study period and hold a prominent sales revenue share by the end of 2033.
However, manual gear shift systems are projected to maintain their dominance in terms of revenue and volume share and just lose a small amount to automatic systems by the end of the next ten years.
Automotive gear shift system companies are focusing on creating innovative systems to improve the efficiency of vehicles and reduce gear-shifting time for drivers.
- In 2019, Hyundai, a leading automotive company based in South Korea, announced that it had developed the world’s first Active Shift Control (ASC) transmission technology for hybrid vehicles. The system is capable of optimizing transmission efficiency by monitoring gear shifts at 500 times per second to enable faster shift time.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key Segments of Automotive Gear Shift System Market Research
By Gear Type :
- Mechanical Linkage
- Push Button
By Transmission Type :
By Vehicle Type :
By Sales Channel :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
The global automotive gear shift system market has reached a value of US$ 27.1 billion in 2023.
Automotive gear shift system sales are forecasted to reach US$ 43.5 billion by 2033-end.
Sales of automotive gear shift systems are set to increase at 4.8% CAGR from 2023 to 2033.
Demand for automotive gear shift systems in China is set to rise at 4.1% CAGR over the next ten years.
Kongsberg Automotive ASA, ZF Friedrichshafen AG, SL Corporation, GHSP Inc., Ficosa International S.A., and Fuji Kiko Co. Ltd. are key market players.