Global Automotive Selector Lever Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 8% during the forecast period.
The Global Automotive Selector Lever market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Automotive Selector Lever report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Automotive Selector Lever Market
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Global Automotive Selector Lever Market Overview:
Automotive Selector Lever is an important part of the gearbox transmission mechanism. The selector lever is mainly used in automatic transmission to select the required drive position by the driver. Moreover, selector levers facilitate the driver to adapt to the gear shifting mechanism. Automotive selector levers are made by chrome-plated surface to meet the high standards of automation and requirements.
As a selector lever is a component used mainly in the passenger compartment, high standards for safety is needed while manufacturing and installation of the levers. The increasing need to use the space of a car in an efficient way and increasing demand for weight reduction of the engine control mechanism owing to stringent government norms regarding vehicle emission are the key factors considered to drive the automotive selector lever market growth.
Furthermore, increasing vehicle sales across the globe has boosted the demand for selector levers in the market exponentially. According to Statistical reports published by Automotive Manufacturers Association (AMA) in 2019, 65.5 million cars were sold in the year in which the passenger cars share accounted for approximately 25 million USD. AMA predicted the worldwide sales to grow at a CAGR of 6.3% owing to increasing manufacturing of vehicles post-pandemic.
Global Automotive Selector Lever Market Dynamics:
Increasing demand for compact vehicle designs across the globe and rising demand for ergonomic comfort of drivers are the key factors considered to drive the automotive selector lever market growth. Moreover, the exponential adoption of driver assistance system by the automotive sector owing to the increasing inclination of manufacturers towards drivers’ comfort is the key supporting factor considered to drive the market growth.
According to Chalmers Survey on Ergonomic Driver Assistance, approximately 69% of automotive manufacturers for passenger and commercial cars are inclined towards the development of a highly adaptive gear shifting mechanism. Also, electric cars manufacturers are keen on using comfortable gear shifting technology for the drivers. In addition, the increasing need for the safety of the lever shifting mechanism is expected to boost the market during the forecast period.
Electric gear shifting mechanism with control knobs is the key factor considered to restrain the automotive selector lever market growth. Furthermore, increasing adoption of drive by wire technology which totally eliminates the lever system and connects the gear shifting mechanism with computers is the factor considered to hamper the market during the forecast period.
The highly untapped market of the APAC region and increasing interconnected smart transportation system are the key factors expected to create opportunities in the market.
Mechatronic Levers are dominating the Automotive Selector Lever Market:
Increasing demand for augmented electric automation and rising demand for weight reduction of the gear shifting mechanism are the key factors considered to drive the mechatronic levers segment in the market. Furthermore, mechatronics levers have design advantages over simple mechanical levers including adoption in electric cars as well as applications in autonomous vehicles also.
Increasing demand for electric vehicles owing to sustainable development imitative taken by governments is the key factor expected to drive the segment growth during the forecast period. According to the research and development cell of AUDI, mechatronics levers is expected to pose many opportunities in the market owing to the design ergonomics of mechatronics levers. According to the Annual report of Audi, the company installs approximately 8 million units of mechatronic levers by far since the adoption of design in the market.
Manual Transmission Segment is boosting the Automotive Selector Lever Market Sales:
Many developing economies and manufacturers within it are still preferring manual transmission system in commercial vehicles as well as in passenger cars owing to their low cost and simplicity of mechanism. According to Volkswagen, more than 10 million units of manual transmission mechanism are sold each year owing to the adoption of manual system by luxury cars manufacturers.
But, factors including fuel efficiency, ease in shifting of gears and increasing demand in the developed regions are the factors expected to dominate the electronic transmission segment during the forecast period. Moreover, the increasing adoption of electric transmission in electric and autonomous cars is the key supporting factor considered to boost the electric transmission segment during the forecast period.
OEM holds the largest share in the Automotive Selector Lever Market:
According to Tokai Rika Annual report, the OEM segment holds the largest share in the automotive selector lever market with approximately 64% market share owing to the increasing adoption of shift by wire transmission system for automated manual and dual-clutch transmission system. Easy gear shifting mechanism provided by shift by wire technology is boosting the demand for selector levers and in turn, increases the sales for OEMs on the global level.
Moreover, OEMs are inclining towards a less complex mechanism for transmission system including electronic transmission system owing to less complex interlocking patterns in the electronic transmission mechanism which is hampering the selector levers market. The adoption of a miniaturized gear system is boosting the OEM segment in the market and creating a positive environment for the market.
Global Automotive Selector Lever Market
Impact of Covid pandemic on the Automotive Selector Lever market:
The covid pandemic posed a negative impact on the Automotive Selector Lever market owing to delayed manufacturing activities and halting of shipments for Automotive Selector Levers due to disruptions in supply chains for manufacturers across the globe. Moreover, changes in dealer inventories and the sudden closing of manufacturing activities in factories across the globe has induced a drop in the Automotive Selector Lever market. Furthermore, the unavailability of the workforce owing to stringent rules and regulations of social distancing has expected to hamper the market growth by approximately 12%.
Steady demand for Automotive Selector Lever and growing manufacturing activities across the automotive industries especially in passenger cars and commercial vehicles segment are the factors expected to create a positive atmosphere in the market. Moreover, manufacturers are also seeing the pandemic as a new way to incorporate their supply chains and integrate their operational demands and dive for cost-cutting Automotive Selector Lever solutions to adhere to the market growth during the forecast period.
Global Automotive Selector Lever Market Regional Insights:
Europe holds the major share in the Automotive Selector Lever Market with approximately 53% of the total market share in the year 2019 owing to increasing infrastructure development for the automotive sector in the region due to booming economic growth. Furthermore, increasing consumer preferences towards the latest technologies is the key supporting factor considered to drive the market growth.
Germany is the dominating market in the region in terms of volume share of approximately 68% as Germany is the largest industrial components manufacturer across the globe owing to the abundance of manufacturing infrastructure and high transportation capabilities across the market. The UK is expected to pose a relatively high share in the market as many key players in the market are investing dominantly in the region. For instance, Kongsberg Automotive has installed a plant for selector levers in the year 2015 which is producing approximately 5-6 million units per year.
The Asia Pacific is the fastest-growing region in the Automotive Selector Lever Market with approximately 34% market share. Factors attributing growth in the market are the abundance of domestic manufacturers of Automotive Selector Lever in the region. China holds the largest market share of approximately 49% along with India and Japan owing to established infrastructure for automotive components manufacturing and increasing disposable income of consumers.
North America holds the dominant share in the market owing to highly increasing transportation capabilities in the region and increasing sales of passenger and commercial vehicles in the region. According to Hyundai, more than 18 million cars have been sold in the year 2019 in the North American region owing to the increasing popularity of premium vehicles and dominance of luxury cars over the regional market.
Global Automotive Selector Lever MarketThe objective of the report is to present a comprehensive analysis of the Global Automotive Selector Lever Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Automotive Selector Lever Market dynamics, structure by analyzing the market segments and project the Global Automotive Selector Lever Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Automotive Selector Lever Market make the report investor’s guide
Global Automotive Selector Lever Market Scope: Inquire before buying
Global Automotive Selector Lever Market
Global Automotive Selector Lever Market, by Region
• North America
o US
o Canada
o Mexico
• Europe
o U.K
o France
o Germany
o Italy
o Spain
o Sweden
o CIS Countries
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o ASEAN
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Egypt
o Nigeria
o Rest of ME&A
• South America
o Brazil
o Argentina
o Rest of South America
Global Automotive Selector Lever Market Key Players
• Ficosa International SA
• Kongsberg Automotive
• SELZER Fertigungstechnik GmbH& Co. KG
• TOKAIRIKA Co. Ltd.
• Fuji Kiko Co. Ltd.
• Aisin Seiki
• ZF Steering Gear Co. Ltd.
• CIE Automotive
• Audi AG
• Ford Motor Co.
• Astra Automotive
• TVS Motor Co. Ltd.
• Mahindra Sona Ltd.
• SL Corporation
• Xian Sanming
• BMW Automobiles
• Jaguar Land Rover Ltd.
• Sapura Group of companies
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