India Automotive Brakes and Gear Shifter Market Size, Growth, Market Overview, Competitive Analysis, Key Players Industry and Forecast 2024-2032

India Automotive Brakes and Gear Shifter Market Size And Forecast

The growth in the automobile industry coupled with increasing stringency in safety regulations regarding vehicles and their components are key factors that contribute to the parking brakes and gear shifter market. The brake systems and technologies associated with these systems are witnessing advancements and improvisation on a large scale. India is a developing nation with increasing disposable income of the end-users. The overall scenario and economic stability make it possible for the end-users to afford modern technology. However, some technologies cost higher than the normal prices which is a minor setback for the market growth as major players are consistently making efforts to keep the prices affordable.

A recent variation is the electric parking brake. First installed in the 2001 BMW 7 Series (E65), Electric Park brakes have since appeared in a number of vehicles. Two variations are available: In the more-traditional “cable-pulling” type, an electric motor simply pulls the parking brake cable on the push or pull of a button rather than a mechanical pedal or handle in the cabin. A more complex unit (first seen on the 2003 Audi A8) uses a computer-controlled motor attached to each of the two rear brake calipers referred to as the Motor on Caliper (MoC) system. An extension of this system, called the hill-hold function, prevents roll-back when stopping and starting on a hill. The OEM can easily turn off the system. Some electric parking brakes function similar to “park” on automatic transmission and will not engage when the vehicle is in motion, there is no emergency brake in this case.

Factors Influencing the India Automotive Brakes and Gear Shifter market

Factors that are acting as an opportunity for the growth of the market include growth in the overall Indian automobile market.  India as a growing economy is becoming one of the prominent exporters and manufacturers of automobile and auto parts. The growing automobile industry in India is one of the most significant drivers for the India Automotive Brakes and Gear Shifter market. As the disposable income of the citizen increases, the investments into convenience goods such as cars and vehicles also increase. This serves as another driver to the market. In addition, the preference for automated technology in vehicles has caused the demand for electric parking brakes and gear shifter to grow.

As depicted in the figure above, the growth of the automobile industry can be witnessed through the production statistics during the past few years till present. The production for passenger Vehicles grew at a CAGR of 7.7% from 2014 to 2017.

A factor that is negatively impacting the market is the high deployment cost of the electric parking brake. In spite of being a tremendous asset to the automobile industry, the market for electric parking brakes might face hindrances in growth due to its high cost. In addition, according to the spending capacity of Indian End users, automated parking breaks make the product over the top expensive, affecting the overall market for such vehicles. The main function of parking brakes is to avoid the motion of the vehicle when parked. In addition, these brakes also play an important role in avoiding the backward motion of the vehicle which resumes moving on a slope. Generally, parking brakes operate only on the rear wheels of a vehicle.

Automotive Brakes and Gear Shifter Market Competitive Landscape:

Some of the major players involved in the Global India Gear Shifter And Parking Brakes Market are Orscheln Group, Murata Manufacturing Co., SKF Ab. These companies will be profiled on the basis of their financials, their geographic and business segment breakdown, as well as product benchmarking. The competitive landscape section includes key development strategies and market ranking analysis of the above-mentioned players globally.

India Gear Shifter And Parking Brakes Market: Product Benchmarking

Some of the product benchmarking of the major companies that are involved in the Market are as follows:

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