Automotive Gear Stick Market to Witness Swift Growth Owing to Rise in Vehicle Production Volumes And Development in Transportation & Logistics Industry

Radiant Insights, Inc.

SAN FRANCISCO, January 15, 2019 /PRNewswire/ --

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. 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.

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, and 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. 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.