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The automotive paddle shifter system market share is expected to increase to 9.01 billion units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.74%.
This automotive paddle shifter system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive paddle shifter system market segmentation by application (passenger cars and LCVs) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The automotive paddle shifter system market report also offers information on several market vendors, including Bowler Performance Transmissions, EDELBROCK LLC, Geartronics Ltd, GSK InTek Co. Ltd., Hewland Engineering Ltd., Holinger Engineering, Powertrain Control Solutions LLC, Pro Shift Technologies Ltd., Savanini Precision Machinery Co. Ltd., Shiftec Leamington Ltd., and TECHART Automobildesign GmbH among others.
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The increasing demand for the automotive transmission system in vehicles is notably driving the automotive paddle shifter system market growth, although factors such as the high penetration of manual transmission systems in APAC and Europe may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive paddle shifter system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Paddle Shifter System Market Driver
One of the key factors driving growth in the automotive paddle shifter system market is the increasing demand for the automotive transmission system in vehicles. Off late, there has been an increase in the popularity of vehicles with an automatic transmission system as they are easy to drive. These vehicles are especially witnessing increased sales in regions that face extreme traffic congestion, as during stop-and-go traffic, the driver must no longer continuously operate the clutch. During the forecast period, these systems are expected to have steady growth owing to high demand from driving enthusiasts who prefer a manual transmission in cars with automatic transmission. Automatic transmission vehicles are moving toward enhanced fuel efficiency through optimization of gear ratios. The advent of robust and efficient electronic control modules has encouraged truck manufacturers to adopt automatic transmission in heavy-duty trucks. All these factors open new opportunities for the global automotive paddle shifter system market, which is expected to grow at a fast pace.
Key Automotive Paddle Shifter System Market Trend
The development of shift-by-wire gear shift systems for hybrid electric vehicles is an automotive paddle shifter system market trend that is expected to have a positive impact in the coming years. The increasing penetration of electric vehicles in the global automotive market is causing automakers to develop gear shift systems for hybrid electric vehicles. R&D of advanced technologies for electric vehicles has led to the development of shift-by-wire gear shift systems. This advanced gear shift system is expected to become a trend during the forecast period. Increasing electrification of automotive components has made its way into an automobile's gear shift system too. Electronic gears shift systems are increasingly being adopted as standard fitment in conventional vehicles. With electric vehicles being portrayed as vehicles of the future, the development of advanced electronic gear shift systems with paddle shifters is bound to increase their futuristic value and add to their ease of driving.
Key Automotive Paddle Shifter System Market Challenge
The high penetration of manual transmission systems in APAC and Europe will be a major challenge for the automotive paddle shifter system market during the forecast period. The manual transmission extends a feel of driving wherein the driver can control the amount of power sent to the wheels by the gear shift mechanism. Conventional manual transmission systems restrict the amount of new technology to be used within the vehicles. Europe and India have a substantial proportion of vehicles equipped with manual transmission. Automotive paddle shifter system makers are unwilling to expand the production of technologically advanced automatic transmissions in these markets, fearing over-stocking. The increased complexity of technically advanced paddle shifter systems also poses a major challenge for car buyers. The penetration of technologically advanced systems like paddle shifter systems is expected to be constricted during the forecast period owing to an increased preference for conventional manual transmission systems.
This automotive paddle shifter system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive paddle shifter system market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive paddle shifter system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive paddle shifter system market encompasses successful business strategies deployed by the key vendors. The automotive paddle shifter system market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive paddle shifter system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive paddle shifter system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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35% of the market's growth will originate from North America during the forecast period. The US is the key market for automotive paddle shifter systems in North America. Market growth in this region will be faster than the growth of the European, APAC, and South American market in regions.
The increased preference for sports sedans, muscle cars, and high-performance vehicles will facilitate the automotive paddle shifter system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, owing to COVID-19, the automotive industry was negatively impacted in this region. A huge number of automobile manufacturing factories had to close, resulting in a drop in the production of auto vehicles and other auto ancillary items in 2020. However, In 2021, the success of vaccination drives across the region and the rise in investment inflows into the auto sector led the automotive vehicle and auto ancillary production plants to reopen and helped in the resumption of import of high-end automotive vehicles across this region.
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The automotive paddle shifter system market share growth in the passenger cars segment will be significant during the forecast period. The overall high-volume year-on-year sales of passenger cars with automated transmission systems are leading to the growth of the global automotive paddle shifter system market. Paddle shifter systems find increased penetration in passenger cars owing to the high number of vehicle enthusiasts who prefer the experience of a manual transmission to their automatic transmission vehicles.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive paddle shifter system market size and actionable market insights on the post-COVID-19 impact on each segment.
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Automotive Paddle Shifter System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.74% |
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Market growth 2022-2026 |
9.01 bn units |
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Market structure |
Concentrated |
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YoY growth (%) |
6.36 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Bowler Performance Transmissions, EDELBROCK LLC, Geartronics Ltd, GSK InTek Co. Ltd., Hewland Engineering Ltd., Holinger Engineering, Powertrain Control Solutions LLC, Pro Shift Technologies Ltd., Savanini Precision Machinery Co. Ltd., Shiftec Leamington Ltd., and TECHART Automobildesign GmbH |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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