The automotive catalyst market will register a CAGR of around 9% by 2023
LONDON, Jan. 8, 2019 /PRNewswire/ -- About this market
The growing potential in developing countries of APAC such as India and Myanmar, automakers have developed a cost- effective and less- sophisticated alternative in the form of automated a manual transmission to compete with hydraulic systems that are mainly used in developed economies in the West. Many global automakers have begun offering this technology even in their entry- level cars, seeing its need in countries that have been facing traffic issues for a long time. The automated transmission systems were not popular among the mass segment mainly due to higher costs and concerns related to fuel economy. But with the availability of automated manual transmission, the same gearbox operated by computer delivers almost the equal or even better fuel- efficiency than conventional manual transmission. Hence, the growth of the automated manual transmission system is foreseen positively impacting the global automotive clutch actuator market. Technavio's market research analysts have predicted that the automotive catalyst market will register a CAGR of around 9% by 2023.
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Market Overview
Increasing penetration of shift- by- wire and clutch- by- wire technology to drive clutch actuator market.
The adoption of automatic transmission systems growing, the shift- by-wire market is expected to grow significantly during our forecast period. A shift- by- wire systems uses an actuator for transmission. Instead of mechanism linkages with the gearbox, actuators execute transmission. The rising penetration of CBW systems in the automotive industry will support the growth of the global automotive clutch actuator market.
Preference for cars with manual transmission in European economies
Drivers in Europe must have a separate license to operate automatic vehicles. Issues related to costs and high fuel prices restrict the market for automatic transmissions in Europe, and they are mostly limited to luxury and premium vehicles. These factors can hinder the growth of automatic transmission systems and affect the global automotive clutch actuator market
For the detailed list of factors that will drive and challenge the growth of the automotive catalyst market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented since the market has a number of companies that offer various products. The rapid commercialization of sports apparels keeps the companies in the market competitive. This automotive catalyst industry analysis report will aid clients in identifying new growth opportunities and designing new growth strategies.
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