PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455690
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455690
Automotive Brakes and Gear Shifter Market size was valued at USD 31,124.33 Million in 2023, expanding at a CAGR of 6.84% from 2024 to 2032.
Automotive brakes and gear shifters represent pivotal elements within a vehicle's drivetrain and safety apparatus. Brakes are entrusted with decelerating or halting the vehicle as needed, typically leveraging friction between brake pads and rotors to convert kinetic energy into heat, which is then dispersed into the surrounding air. In modern vehicles, disc brakes, employing brake pads squeezing against rotors, are prevalent due to their efficient heat dissipation and consistent braking performance. Meanwhile, drum brakes, utilizing brake shoes pressing against an internal drum, persist in certain applications, particularly as rear brakes in smaller vehicles. Additionally, technological advancements like anti-lock braking systems (ABS) and electronic stability control (ESC) further enhance braking efficacy and vehicle stability, especially during emergencies. On the other hand, automotive gear shifters, alternatively known as gear selectors or gear levers, afford drivers the ability to manually select gears in manual transmissions or regulate gear selection in automatic transmissions. In manual transmissions, gear shifters typically feature a gated pattern delineating positions for each gear alongside a neutral position, enabling drivers to engage desired gears. In contrast, automatic transmissions may integrate a straightforward lever offering options like Park, Reverse, Neutral, Drive, and sometimes additional modes like Sport or Low gear for specialized conditions. Furthermore, contemporary vehicles incorporate electronic gear selectors, replacing traditional mechanical linkages with electronic signals to govern gear selection. Additionally, paddle shifters mounted on the steering wheel permit manual gear shifting in automatic transmissions, fostering a more immersive driving experience.
Automotive Brakes and Gear Shifter Market- Market Dynamics
Advent of the advanced shifter system to propel market demand
The advent of the advanced shifter system, an electronically controlled mechanism managing gear engagement and disengagement, has revolutionized the automotive landscape. Employing a combination of a lever and electronic systems, this innovative gear shifter seamlessly executes gear changes based on driver input. By discerning driver intent, the system orchestrates clutch operations and solenoid actuator actions, facilitating gear engagement, disengagement, and shifting. This technological leap has substantially invigorated the advanced shifter system market, aligning with the automotive industry's pursuit of lightweight materials to enhance fuel efficiency without compromising safety or performance. Regulatory imperatives coupled with technological breakthroughs in automotive powertrains have spurred the development of lightweight automotive systems, including advanced shifter systems, to meet the evolving demands of modern vehicles. Leveraging sophisticated hardware and software, automotive component manufacturers are striving to minimize the weight of vehicle components, exemplified by the shift-by-wire system. By replacing heavy steel components with lightweight materials like high-strength steel, aluminum, or glass fiber-reinforced polymer composites, manufacturers can achieve weight reductions ranging from 10% to 60%, optimizing vehicle efficiency and performance. Given the pivotal role of transmissions in vehicle dynamics, the pursuit of high-tech transmission systems further propels the demand for advanced shifter systems. Automotive manufacturers are increasingly embracing lightweight transmission and shifter systems to mitigate emissions and enhance fuel efficiency. Consequently, the demand for advanced shifter systems, particularly shift-by-wire solutions, is anticipated to escalate. With prominent companies concentrated in the Asia-Pacific region and stringent emission regulations fostering innovation, the advanced shifter systems market is poised for robust growth. Moreover, substantial investments in research and development activities are projected to bolster the adoption of automotive advanced shifter systems in the foreseeable future.
Automotive Brakes and Gear Shifter Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.84% over the forecast period (2024-2032)
Based on product type segmentation, Shift-By-Wire was predicted to show maximum market share in the year 2023
Based on Vehicle Type segmentation, passenger cars was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Automotive Brakes and Gear Shifter Market is segmented on the basis of Product type, Component, Vehicle Type, Propulsion, and Region.
The market is divided into two categories based on product type: Automatic Shifter and Shift-By-Wire (SBW). In the automotive brakes and gear shifts sector, Shift-By-Wire (SBW) technology has emerged as the dominant choice over Automatic Shifter systems. SBW technology replaces traditional mechanical linkages with electronic controls, enabling smoother gear shifts, heightened precision, and seamless integration with advanced driver assistance systems. With improved responsiveness and customization options, SBW systems are increasingly favored by automakers aiming to elevate driving comfort and performance in contemporary vehicles.
The market is divided into three categories based on Vehicle Type: Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle. Based on Vehicle type, passenger cars take the spotlight as the primary segment in the automotive brakes and gear shifts market. This category encompasses a wide array of vehicles, including sedans, hatchbacks, SUVs, and crossovers, constituting a significant portion of the automotive market worldwide. Given the widespread adoption of passenger cars and the rising demand for advanced features, the segment propels substantial demand for innovative braking and gear shifting systems. Furthermore, manufacturers of passenger cars prioritize enhancements in comfort, convenience, and driving experience, prompting them to embrace advanced braking and gear shifting technologies early on to meet consumer expectations and maintain competitiveness.
Automotive Brakes and Gear Shifter Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the automotive brakes and gear shifters market, companies concentrate on developing dependable, efficient, and user-friendly components that comply with safety standards and meet consumer demands. This involves ongoing research and development endeavors aimed at enhancing braking performance, durability, and driver comfort. Additionally, firms may incorporate advanced technologies such as regenerative braking systems for hybrid and electric vehicles or adaptive shift algorithms for automatic transmissions to bolster efficiency and performance. Moreover, marketing endeavors frequently highlight attributes like responsive braking, seamless shifting, and user-friendly operation to appeal to customers seeking dependable and enjoyable driving experiences.
In July 2022, Orbis Brakes unveiled a groundbreaking braking technology developed in collaboration with NASA. This partnership yielded the patented Periodic Wave disc brake, leveraging advanced aerodynamics to deliver superior surface cooling, mitigate brake fade risks, and extend vehicle range and fuel efficiency.
GLOBAL AUTOMOTIVE BRAKES AND GEAR SHIFTER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Eissmann Group Automotive
Orscheln Products
Dura
Kongsberg Automotive
M&T Allied Technologies
ZF
Delta Kogyo
Kostal
Stoneridge
Fuji Kiko
Silatech Srl
GHSP
Kuster
Ficosa
Atsumitec
Others