global automotive gear stick market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The automotive gear stick is also termed, as gearshift is a metal lever attached to the shift assembly in a physical transmission-equipped automobile and is used to change gears. It is found between the front seats of the vehicle, on either console shifter or center console.
The factors that are playing a major role in the growth of automotive gear stick market are enhancements in non-ferrous metal castings, rising demand for smoother ride experience by consumers, and growing vehicle production and sales in the developing region. However, rising demand for electric vehicles may restrain overall market growth in the years to come. The market is segmented based on product type, vehicle type, material type, distribution channel, application, and region.
Automatic and manual gear stick are the product types that could be explored in automotive gear stick in the forecast period. The heavy commercial vehicle, passenger cars, light commercial vehicles, and other vehicle types could be explored in automotive gear stick in the forecast period. Non-ferrous metals, ferrous metals, and others (plastic and composites) are the material types that could be explored in automotive gear stick in the forecast period.
Based on the distribution channel, aftermarket, OEM, and others could classify automotive gear stick in the forecast period. The market may be categorized based on applications like automobile, household appliances & consumer electronics, computer & office equipment, and others could be explored in the automotive gear stick in the forecast period. Automobile sector accounted for the substantial market share of automotive gear stick and is estimated to lead the overall market in the years to come.
Globally, Asia Pacific accounted for the substantial market share of the automotive gear stick and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be high demand for automotive gear; manufacturers are developing production capacity, and growing vehicle production in developing countries.
The developing countries like India and China are the major consumers of automotive gear stick in this region. The reason behind the growth could be growing purchasing power of the consumer and a need to own a car and developing infrastructure raised the demand for commercial vehicles and personal transportation. Europe and North America are also estimated to have a positive influence on future growth.
The key players of automotive gear stick market are Nanjing Aolin, Kongsberg, Chongqing Downwind, ZF, Ningbo Gaofa, GHSP, Tokai Rika, SL Corporation, DURA, Sila, Kostal, Ficosa, and Fuji Kiko. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
• Passenger Cars
• Light Commercial Vehicles
• Heavy Trucks
• Buses & Coaches
• North America
• Asia Pacific
• Middle East and Africa
• South America
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Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global Automotive Gear Stick market?
• What are the challenges to market growth?
• Who are the key players in the Automotive Gear Stick market?
• What are the market opportunities and threats faced by the key players?
Research Support Specialist, USA