According to a recent Fact.MR study, nearly 113 million automotive gear shift systems were sold in 2018, with steady automobile sales, development of innovative testing systems, and introduction of novel products influencing the trends in this market.
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The study opines that stick shift gear systems will continue to be the top-selling variant, on account of its cost-effectiveness and role in achieving fuel efficiency. Furthermore, the development of technology to enhance the performance and substantially reduce the weight of manual transmission systems while providing for better driver comfort and compact design is fuelling uptake of stick gear shift systems, with global sales totaling 83 million units in 2018.
Automatic Transmission Systems to Emerge as Vital Revenue Pocket for Automotive Shift Gear System Market
Demand for vehicles equipped with automatic transmission systems and automatic manual transmissions is on the rise owing to their better performance, ease of operation, and fuel-efficiency. One of the key factors behind the gradual consumer shift towards automatic gear shift is its ease of operation, which significantly reduces driver fatigue. Additionally, automatic transmission systems enable smooth drive along slopes and hilly areas as compared to manual transmission systems. Owing to these factors, automatic gear shift vehicles have witnessed increasing sales in the last decade, especially in lucrative markets of China and India where manual gear shift vehicles are ubiquitous.
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According to the study, the pervasive trend is causing automotive manufacturers to bolster production of vehicles powered with automatic transmission systems and reduce the use of manual transmissions in their products. An increasing number of automobile manufacturers are launching new models with only automatic transmission systems. According to the report, the factor is likely to open lucrative opportunities for automotive gear shift system manufacturers with passenger vehicles accounting for sales of over 75 million automotive gear shift system units in 2018. Advancements in technology and increasing investments in leisure sporting activities such as formula one and off-road driving is further expected to bolster demand for automotive gear shift systems that are compatible with automatic transmission.
Simulation Software and AI to Find Widespread Adoption in Development of Automotive Gear Shift Systems
Automotive gear shift system manufacturers are increasingly leveraging technology for the production and testing of their products. Simulation software is finding widespread adoption in the market with manufacturers using the technology to test virtual gear shift system models under different driving conditions. Coupled with artificial intelligence, the information obtained from simulation software is used for optimizing the shift schedule of automotive gear shift systems. These technologies are enabling manufacturers to conduct real-time testing using virtual scenarios and aid in designing and accurate calibration of gear shift systems quickly, efficiently, and in a cost-effective manner.
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The Fact.MR report tracks the automotive gear shift system market for the period 2018-2028. According to the report, the automotive gear shift system market is projected to grow at 4.8% CAGR through 2028.
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