Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR), By Demand Category (OEM vs Replacement), By Material (Steel, Brass, Others), and By Region.
New York, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Synchronizer Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2018-2028" - https://www.reportlinker.com/p06377467/?utm_source=GNW
The global automotive synchronizer market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028. High demand for vehicles equipped with advanced features and strict government regulations stating the importance of vehicle safety are the key factors driving the growth of the global automotive synchronizer market.
An automotive synchronizer is a part of a synchromesh manual transmission that allows the smooth movement of gears.It enables the meshing gear to change on a moving vehicle without adversely affecting the interior noise and gears mechanism.
Automotive synchronizer improves the vehicle performance by smoothing the ride even while driving on rough terrains and sharp cuts on the road. It enhances the vehicles’ life and makes them durable and stable by increasing their life.
The use of advanced technologies in the manufacturing process and significant market players in the United States create growth opportunities for the global market. Improving the expenditure capacity of consumers and the high sales of automobiles is influencing the market demand in the country.
High Demand for Automobiles with Advanced Features Supports Market Growth
At the global level, total vehicle production stood at 2020 77621.58 thousand units in 2020. An increase in the customers’ disposable income is fueling their expenditure capacity to adopt an improved lifestyle and buy quality products. Rapid urbanization and industrialization are boosting the sales of automobiles in developing countries. The outbreak of COVID-19 accelerated the need to purchase private vehicles as, during this time, the government restricted public gatherings to prevent the spread of novel coronavirus. The shift in consumers’ preference to buy automobiles for personal and commercial traveling purposes to experience enhanced comfort and convenience is expected to fuel the growth of the global automotive synchronizer market. Strict government regulations focusing on lowering carbon emissions into the environment and integrating advanced safety features in automobiles make automobile manufacturers take the necessary steps. Mandates state the need to install safety features in passenger cars to make automobiles reliable with high power density, consisting of hybrid and electric car systems. The rise in crude oil prices is generating the need for fuel optimization to attain higher efficiency is expected to fuel the growth of the global automotive synchronizer market as it plays a crucial role in fuel utilization and enhances safety while driving automobiles.
Emergence Of E-Commerce Sector Fuels the Market Growth
Market players are adopting online sales channels to expand the consumer base and boost the sales of their respective brands to stay ahead in the market.Investments for the development of interactive websites and applications by the market players and advanced technologies such as artificial intelligence, internet of things, machine learning, big data analysis, and internet of things to provide a customized shopping experience to consumers are bolstering the growth of online sales channel.
Market players are also selling their products through an already established online sales channel, influencing the market demand. Availability of products at lower prices than the market price and the facility for doorstep delivery, return options, online payment gateways provided by the market players is expected to accelerate the global automotive synchronizer market growth.
The global automotive synchronizer market is segmented by vehicle type, demand category, material, regional distribution, and company.Based on the vehicle type, the global automotive synchronizer market is divided into passenger car, light commercial vehicle, medium & heavy commercial vehicle, and OTR.
Based on the demand category, the global automotive synchronizer market is divided into OEM and replacement.Based on material, the global automotive synchronizer market is divided into steel, brass, and others.
To analyze the market based on the region, the global automotive synchronizer market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa.
Schaeffler Group, Anand CY Myutec Automotive Private Limited, Dana Graziano Srl, Oerlikon Friction Systems GmbH, Hoerbiger Holding AG, Owari Seiki Co. Ltd., Diehl Metall Stiftung & Co. Kg, are among the major market players in the global platform that lead the market growth of the global automotive synchronizer market.
In this report, global automotive synchronizer market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Automotive Synchronizer Market, By Vehicle Type:
o Passenger Car
o Light Commercial Vehicle
o Medium & Heavy Commercial Vehicle
• Automotive Synchronizer Market, By Demand Category:
• Automotive Synchronizer Market, By Material:
• Automotive Synchronizer Market, By Region:
o North America
o Europe & CIS
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global automotive synchronizer market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06377467/?utm_source=GNW
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