LONDON--(BUSINESS WIRE)--The global automotive gear shift systems market 2018-2022 is expected to register a CAGR of around 3% during the forecast period, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
A key factor driving the market’s growth is the rising penetration of shift-by-wire systems. Vehicle makers are increasingly replacing mechanical components with electronics to increase the efficiency of transmission systems. Automotive gear shift systems are also undergoing similar changes. A lot of mechanical parts are being replaced by electronic components to achieve faster and more efficient gear shifts.
This market research report by Technavio on the global automotive gear shift systems market provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of shift-by-wire gear shift systems for electric vehicles systems as one of the key emerging trends in the global automotive gear shift systems market:
Global automotive gear shift systems market: Development of shift-by-wire gear shift systems for electric vehicles systems
The increasing penetration of electric vehicles has prompted vehicle makers to develop advanced technologies such as shift-by-wire gear shift systems for electric and hybrid electric vehicles. A major vendor in the global market has developed a shift-by-wire technology, which uses electronic signal transmission for its operations.
“The market has been witnessing an increasing use of electronic methods of shifting gears in conventional vehicles. The penetration of the same in electric vehicles is an emerging trend that is expected to increase the futuristic value of electric vehicles and their associated advanced electronic gearshift systems,” says a senior analyst at Technavio for research on powertrain.
Global automotive gear shift systems market: Segmentation and analysis
This market research report segments the global automotive gear shift systems market based on transmission type (automatic transmission and manual transmission) and key regions (the Americas, APAC, and EMEA).
APAC held the highest share of the global automotive gear shift systems market in 2017, accounting for a market share of approximately 55%. The market share occupied by this region is anticipated to increase by almost 2% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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