AUTOMOTIVE GEAR SHIFTER MARKET ANALYSIS

Regional Analysis

Regional Analysis of Automotive Gear Shifter Market

On the basis of geography, the global automotive gear shifter market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific is expected to be the largest market for automotive gear shifter during the forecast period, owing to increasing demand for automobiles among consumers, which has led to high growth of the automotive industry. This in turn is expected to aid in growth of automotive gear shift market.  For instance, according to a report by India Brand Equity Foundation (IBEF), the Indian automotive industry (including component manufacturing) is expected to reach around US$ 251.4-282.8 billion by 2026. North America held the second largest market share followed by Europe region in 2017. North America and Europe region have been witnessing high growth in the automotive gear shifter market in the recent past. This is due to increasing production, sales, and expansion of leading automobile OEMs and automotive component suppliers in the regions. According to statistics provided by OICA, 3.5 million vehicles were sold in 2017 up from 3.1 million vehicles in 2016 in the U.S.