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The advanced gear shifter system industry is being driven by the thriving automotive sector in emerging economies due to the rising demand for fuel efficient automobiles. Also, the increasing inclination towards automated manual transmission owing to the greater comfort and convenience offered to the driver is also propelling the growth of the market. Moreover, the growing awareness about the faster shift and more accurate care handling achieved by advanced gear shifter system is likely to be a major driving factor for the market growth.
In July 2019, Hyundai Motor Group announced the development of world’s first active shift control for hybrids. This development was aimed towards enhancing the fuel economy and the convenience of driving. This transmission technology will optimise the transmission efficiency by monitoring gear shifts 500 times per second. Furthermore, the growing availability of a wide range of advanced gear shifter solutions by companies including Kongsberg Gruppen ASA and Stoneridge, Inc. (NYSE: SRI) is anticipated to support the market growth in the forecast period.
In terms of region, the Asia Pacific is likely to account for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. The major automotive manufacturing players in emerging economies are witnessing an increased demand for commercial cars, which is expected to provide lucrative growth opportunities to the market in the forecast period. In addition, the rising demand for passenger cars is likely to propel the growth of the global advanced gear shifter system industry.
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The major players in the global advanced gear shifter system market are ZF Friedrichshafen AG, Kongsberg Automotive Holding ASA, Delta Kogyo Co., Ltd., and Dura Automotive Systems, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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