Dover, DE -- (SBWIRE) -- 05/17/2016 -- Automotive selector lever market size is expected to be driven by the global increase in vehicle sales over the forecast period. In 2014, global automotive production was around 67.53 million cars and 22.22 million commercial vehicles while, over 71.15 million cars were sold in the same year. Volkswagen is the leading passenger car manufacturer followed by Toyota and Hyundai respectively. However, Toyota was the leading manufacturer of passenger cars in terms of sales in 2014. The company recorded the sales for around 10.23 million units in the same year. This should boost the global automotive selector lever market size over the forecast period.

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These leavers are mainly utilized in the vehicles to facilitate the driver or user to adapt to gear shifting process. Increasing need for limited space, ergonomic comfort, electronic automation and weight reduction is likely to propel growth over the forecast period. In addition, rising safety features for automotive gear levers is anticipated to offer potential growth opportunities for this industry.

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The gear leavers are segmented into mono stable levers, mechatronic levers and miniaturized levers in order to execute the necessities for automotive applications. The gear levers are primarily poisoned in the middle console of a vehicle in order to attain optimal ergonomics for energetic driving experience. In addition, it facilitates both manual and automatic gear switching.

Electronic gear shifts coupled with special knobs are expected to pose the threat to the industry demand over the coming few years. With the advent of new technologies such as drive by wire, the vehicles are controlled by computer transmissions which do not require the gear leavers to be mechanically coupled to the transmission unit. This type of installation offers less occupied space without the assistance of complex interlocking and remote mechanism settings. In addition, the manufacturers are now shifting towards the adoption of miniaturized gear sticks and buttons which in turn hamper the industry growth over the forecast period. Furthermore, increasing adoption of rotary knobs in Range Rover and Jaguar models is anticipated to obstruct the industry demand over the next few years.

The global automotive selector lever market share can be segmented on the basis of type and geography. By technology, the industry can be segregated into automatic selector levers and manual selector levers. Based on geography, the industry can be classified into North America, Europe, Latin America, Asia Pacific and MEA.

Europe automotive selector lever market size was estimated to be the largest closely followed by North America in 2014. Asia Pacific automotive selector lever market share is anticipated to observe high growth rate over the forecast period. This can be attributed to rising disposable income and increasing customer preference towards luxury cars. China and Thailand were the foremost regions accounted for large industry shares in the Asia Pacific region over the next few years.

Manual selector levers are leading the type segment for the industry. Automatic selector levers are anticipated to witness significant gains over the forecast period. These leavers are primarily deployed in the luxury cars owing to mounting demand from the upper class population. The demand for these levers is on the surge owing to increasing demand for luxury vehicles. In addition, automatic levers change gear ratios as the vehicle moves, freeing the driver from having to shift gears manually. Moreover, these levers are ideally suited to run at a moderately high rotational speed. It offers a range of torque and speed outputs essential for vehicular travel.

Some of the major companies for the global automotive selector lever market share are Tokai Rika Co., Ltd., Fuji Kiko Co., Ltd., Kongsberg Automotive, ZF Steering Gear (I) Ltd, Aisin Seiki, Ficosa International S.A., CIE Automotive, Mahindra Sona Limited, BMW Automobiles, TVS Motor Company Limited, Tata Autocomp Systems Limited, Sapura Group of Companies, Audi AG, Astra Automotive, SL Corporation, Xian Sanming, Ford Motor Company, Jaguar Land Rover Limited and Zunhua Jinyang Automobile Part Co., Ltd among others.