MarketsandMarkets’ research report, “Advanced Gear Shifter System Market for Automotive by Technology, Component, Vehicle Type, EV Type, and Region - Global Forecast to 2025", estimates the global market to grow at a CAGR of 3.64% and reach $13.50 Billion by 2025 from an estimated $10.51 Billion in 2018. Factors such as higher disposable income (?), increasing awareness of the use of x-by-wire technology in a vehicle among vehicle occupants, increasing amount of vehicle electronics, and the adoption of advanced vehicle technologies such as connected vehicles and self-driving vehicles are expected to drive the Advanced Gear Shifter System Market for automotive.
- South America to be the fastest growing market and Asia Pacific to hold the largest market for advanced gear shifter system for automotive in 2025
- Shift-by-wire technology is estimated to hold the largest market share during the forecast period
- Solenoid actuator is estimated to hold the largest share of advanced gear shifter system for automotive market by component from 2018 to 2025
- The Advanced Gear Shifter System Market for automotive for solenoid actuator is estimated to be the largest since it is used in most of the vehicle shifting mechanisms. Increasing production of vehicles equipped with automatic and semi-automatic transmission is expected to drive the growth of this segment.
- Major technology vendors include ZF (Germany), Kongsberg (Norway), Dura Automotive (US), Ficosa (Spain), and Stoneridge (US).
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