Gear Stick Market Scope
The gear stick is attached to the manual transmission which is used to change the gear. Whereas in auto transmission it is used to select among the three drive modes such as reverse, neutral or drive mode. These gear sticks are commonly installed in between the two seat. In addition, it comes with different shapes, sizes and materials.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | BMW Automobiles (Germany), Audi (Germany), Bosch (Germany), Ford (United States), Tokai Rika (Japan), Kongsberg Automotive (Norway), ZF Steering Gear (India), Aisin Seiki (Japan), Tata Autocomp Systems (India) and TVS Motor Company (India) |
CAGR | 7.7% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies. Research Analyst at AMA estimates that Germany Vendors will contribute to the maximum growth of Global Gear Stick market throughout the predicted period.
BMW Automobiles (Germany), Audi (Germany), Bosch (Germany), Ford (United States), Tokai Rika (Japan), Kongsberg Automotive (Norway), ZF Steering Gear (India), Aisin Seiki (Japan), Tata Autocomp Systems (India) and TVS Motor Company (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Gear Stick market by Type , by Application (Cars, Truck and SUVs) and Region with country level break-up.
On the basis of geography, the market of Gear Stick has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On January 10, 2023, ZF Friedrichshafen AG and Wabco Holdings Inc. announced their merger to create a leading global automotive technology supplier. The combined company will offer a wide range of products, including gear sticks, for the commercial vehicle industry.
On May 12, 2023, Jtekt Corporation launched a new electronic gear shift system for passenger cars. This new system is designed to improve fuel efficiency and driving comfort.
Influencing Trend:
Increasing demand for automatic gear
Market Growth Drivers:
Growing Automobile Sector is increasing the Market Growth and Wide Range of Applications are Driving the Market
Challenges:
Rising Sale of Electric Vehicle May Hamper the Market Growth
Restraints:
High cost
Opportunities:
Increasing Research and Development in Automobile Sector
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations