The global advanced gear shifter system market is estimated to be USD 12.5 billion in 2020 and is projected to grow at a CAGR of 6.9 % during the forecast period, to reach USD 19.8 billion by 2027 Automotive Advanced Gear Shifter System Market size will witness exponential growth over the study timeframe on account of reducing the driver fatigue while changing gears and improving the overall customer driving experience. The technology engages, disengages, and change gears as per the driver’s and engine requirement, thus eliminates the tiring task of manual gear shifting. It uses electric system to operate clutch and solenoid actuators that performs gear shifting task.
The poor road conditions coupled with improvements in technology and enhanced fuel efficiency of semi-automatic and automatic transmission vehicles are boosting the product penetration over the study timeframe. The vehicle users in the emerging economies including India are adopting automatic vehicles owing to ease in travelling along with ease of driving in highly congested areas. For instance, in April 2018, Ford announced that up to 50% Ford buyers in Indian cities including Delhi are opting for automatic transmission. This will support the automotive advanced gear shifter system market growth over study timeframe.
The increasing adoption of x- by- wire technologies in vehicles owing to the requirement for precision in electronic engine controls are supporting the automotive advanced gear shifter system market growth. The system eliminates mechanical linkages and uses electromechanical or electrical systems to improve fuel economy and offers superior comfort during travelling compared to the manual transmission vehicles. In addition, the several counties including U.S., China, and India across the globes are providing subsidiaries to promote usage of electric vehicles that will further boost the product penetration.
The organizations including the International Organization for Standardization (ISO), Automotive Research Association of India (ARAI), and National Highway Traffic Safety Administration (NHTSA) provides guidelines for safety of automotive systems. ISO/TS 12104:2003 provide the gearshift pattern guidelines for automatic transmission to ensure the safety and vehicle performance. These regulations further boost the customer confidence towards usage of these systems, thereby proliferating the automotive advanced gear shifter system market expansion.
The key players in automotive air suspension system market are Continental Ag (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp Ag (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd. (China), Mando Corporation (South Korea), ZF Friedrichshafen (Germany), LORD Corporation (U.S.), Volvo (Sweden), Air Lift Company (Michigan), and VB-Airsuspension (Netherlands).
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future because of increased demand of air suspension system in commercial vehicles in emerging nations such as India, China, and Japan. The increase in the disposable income in Asia Pacific is also expected to drive the market. The increase in the disposable income will result in the growing sale of passenger and commercial vehicles, which will indirectly result in the growth of the market. North America is expected to be the second largest market in future due to increase demand for premium cars. The growing demand for premium cars will result in growing installation of air suspension in the vehicle. The increase in installation of air suspension in the vehicle will drive the air suspension system market in North America.
The poor road conditions coupled with improvements in technology and enhanced fuel efficiency of semi-automatic and automatic transmission vehicles are boosting the product penetration over the study timeframe. The vehicle users in the emerging economies including India are adopting automatic vehicles owing to ease in travelling along with ease of driving in highly congested areas. For instance, in April 2018, Ford announced that up to 50% Ford buyers in Indian cities including Delhi are opting for automatic transmission. This will support the automotive advanced gear shifter system market growth over study timeframe.
The increasing adoption of x- by- wire technologies in vehicles owing to the requirement for precision in electronic engine controls are supporting the automotive advanced gear shifter system market growth. The system eliminates mechanical linkages and uses electromechanical or electrical systems to improve fuel economy and offers superior comfort during travelling compared to the manual transmission vehicles. In addition, the several counties including U.S., China, and India across the globes are providing subsidiaries to promote usage of electric vehicles that will further boost the product penetration.
The organizations including the International Organization for Standardization (ISO), Automotive Research Association of India (ARAI), and National Highway Traffic Safety Administration (NHTSA) provides guidelines for safety of automotive systems. ISO/TS 12104:2003 provide the gearshift pattern guidelines for automatic transmission to ensure the safety and vehicle performance. These regulations further boost the customer confidence towards usage of these systems, thereby proliferating the automotive advanced gear shifter system market expansion.
The key players in automotive air suspension system market are Continental Ag (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp Ag (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd. (China), Mando Corporation (South Korea), ZF Friedrichshafen (Germany), LORD Corporation (U.S.), Volvo (Sweden), Air Lift Company (Michigan), and VB-Airsuspension (Netherlands).
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future because of increased demand of air suspension system in commercial vehicles in emerging nations such as India, China, and Japan. The increase in the disposable income in Asia Pacific is also expected to drive the market. The increase in the disposable income will result in the growing sale of passenger and commercial vehicles, which will indirectly result in the growth of the market. North America is expected to be the second largest market in future due to increase demand for premium cars. The growing demand for premium cars will result in growing installation of air suspension in the vehicle. The increase in installation of air suspension in the vehicle will drive the air suspension system market in North America.
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