Automotive Gear Stick Market Development, Revenue, Demand and Forecast to 2023
May
09, 2019: Global automotive gear stick market is estimated to
expand at a substantial CAGR of 4.1% by 2023 as the scope, product types, and
its applications are increasing across the globe. A gear stick is also known as
“Gear Lever”, “Gearshift” or “Shifter”. It is a metal lever attached to the
shaft assembly in a manual transmission-equipped automobile and is used to
change gears.
The factors that propel
the growth of the automotive gear stick market include increase in vehicle
production, development in the transportation and logistics industry, growing
consciousness, technological advancement, increase in the cargo traffic, and the
intermodal transport. On the other hand, there are factors that may hamper the
growth of the market including increased demand for affordable vehicles and the
high cost of the raw material.
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Automotive gear stick
market may be explored by product type, application, and geography. The market
may be explored by product type as Automatic mode and Manual mode. The market
could be explored based on the application as Buses & Coaches, Light
Commercial Vehicles, Passenger Cars, and Heavy Trucks. The “Light Commercial
Vehicles” segment led the market in 2016 and is anticipated to maintain its
dominance by 2023.
Automotive gear stick
market is categorized based on geography into North America, Latin America,
Japan, Middle East, and Africa, Western Europe, Asia Pacific, and Eastern
Europe. Asia-Pacific accounted for the
major share of the automotive gear stick market in 2016 and will continue to
lead in the forecast period. The key factor that could be attributed to the growth
of the market includes increase in vehicle production in this region. China,
India, and Pakistan are the major market for Automotive gear stick.
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The key players
contributing to the robust growth of the automotive gear stick market comprise
GHSP, Kongsberg, ZF, Sila, SL Corporation, Ficosa, Ficosa, DURA, Kostal, Ningbo
Gaofa, Tokai Rika, Nanjing Colin, Chongqing Downwind. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
Global automotive gear
stick market is anticipated to grow at a CAGR of 4.1% by 2023, according to a
new report published by Gen Consulting Company. The report segments the market
and forecasts its size, by volume and value, on the basis of application
(passenger cars, light commercial vehicles, heavy trucks, buses & coaches,
etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South
America).
The report covers
forecast and analysis for the Automotive Gear Stick market on a global and
regional level. The study provides historic data of 2013-2017 along with a
forecast from 2018 to 2023 based on both output/volume and revenue. The study
then describes the drivers and restraints for the Automotive Gear Stick market
along with the impact they have on the demand over the forecast period.
Additionally, the report includes the study of opportunities available in the
Automotive Gear Stick market on a global level.
The report has been
prepared based on the synthesis, analysis, and interpretation of information
about the global Automotive Gear Stick market collected from specialized
sources. The competitive landscape section of the report provides a clear
insight into the market share analysis of key industry players. Company
overview, financial overview, product portfolio, new project launched, recent
development analysis are the parameters included in the profile.
The research report
provides analysis and information according to market segments such as
geographies, types and applications. All the segments have been analyzed based
on present and future trends and the market is estimated from 2018 to 2023.
Relevantly, the report and company profiles specify the key drivers that are
impacting the demand in global Automotive Gear Stick market.
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