Automotive Gear Stick Market Growth, Business Development, SWOT Analysis, and Forecast, 2023

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 the market are:
  • Enhancements in non-ferrous metal castings
  • Rising demand for smoother ride experience by consumers
  • 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.

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.

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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
  • Others
Automobile sector accounted for the substantial market share of the automotive gear sticks 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 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
  • Fuji Kiko
These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

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