COVID-19 to affect the Global Automotive Gear Shift System Market Size
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Market Synopsis
As per the
research by Market Research Future Reports (MRFR), the global Automotive Gear
Shift System Market Size is projected to thrive at a CAGR of 6.56% during the
forecast period. The primary factor driving the global Automotive Gear Shift
System Market Size2020 is the development of technologies. The advancement of
technologies plays a vital role in transforming the components. The increasing
demand for fuel-efficient components,the expanding automotive industry are the
most significant drivers for the Automotive Gear Shift System Market Size.
Besides, the launch of electric vehicles has additionally propelled the market.
Research and development for an efficient system further play an essential role
in propelling the global market revenue. This technology provides a better
experience to the consumers by offering a smoother transition between gears.
Hence, it estimated to increase the demand and augment the market.
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Moreover, the
increasing preference of electronic gear shift system to the manual gear shift
system has enhanced the demand for advanced systems. Also, the rising concern
towards the green environment has plays contributed to the expansion of the market.
On the other hand, the procurement of raw materials is the biggest hurdle that
inhibits the growth of the Automotive
Gear Shift System Market Size.
Due to the sudden outbreak of novel
coronavirus, there has been an immense change in the market dynamics. Several
regions have been affected due to the pandemic. We will provide COVID-19 impact
analysis with the report.
Market
Segmentation
The global Automotive
Gear Shift System Market Size can be classified on the basis of the fuel
system, type, application, and region.
On the basis
of the fuel system, the global Automotive Gear Shift System Market Size can be
classified into diesel, petrol, and gasoline.
On the basis
of type, the global Automotive Gear Shift System Market Size can be classified
into a manual system and automatic system.
On the basis
of application, the global Automotive Gear Shift System Market Size can
be classified into light commercial vehicles, passenger
cars, and heavy commercial vehicles.
On the basis
of region, the global Automotive Gear Shift System Market Size can be
classified into North America, Europe, Asia Pacific, and
Rest of the World (RoW).
Regional Analysis
The geographical analysis of
North America, Europe, Asia Pacific, and Rest of the World (RoW) has been conducted.
As per the analysis by MRFR, the APAC region is estimated to dominate the
global market during the review period. The region is likely to dominate the
market in terms of volume and value. The factor leading to the market expansion
is increased demand for passenger vehicles and increased sales of vehicles. The
market is likely to propel at a fast pace during the forecast period. The
emerging economies like China, India, and Japan play a significant role in the
regional expansion of the market. As per the research, the second place is attained
by the European market. The market is likely to achieve the second position in
terms of market share owing to the stringent government regulations to the
vehicle transmission.
However, due to the outbreak of pandemic
coronavirus, several regions have been adversely affected. The dynamics of the
market are changed significantly due to the observation of worldwide
lockdown.
Key Players
The forefront players of the
global automotive gear shift system are Aisin Seiki Co., Ltd. (Japan), Allison
Transmission (U.S.), GETRAG (Germany), GKN PLC (U.K.), ZF Friedrichshafen AG
(Germany), ZF Friedrichshafen AG
(Germany), Continental AG (Germany), Eaton Corporation PLC (Republic of
Ireland), Magna International Inc. (Canada),
JATCO Ltd. (Japan) and BorgWarner Inc. (U.S.).
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