The global Powerglide Shifter market is expected to witness a market value of US$ 32.5 Billion in 2023 and is expected to accumulate a market value of US$ 52.9 Billion by registering a CAGR of 5.0% in the forecast period 2023 to 2033. The Powerglide Shifter market registered a CAGR of 2.3% in the historical period 2018 to 2022. Factors such as increase in retail as well as eCommerce market for automotive shifters are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Powerglide Shifter has been flourished. The increasing demand for high-performance vehicles is one of the major factors that is anticipated to accelerate the growth of the Powerglide shifter market. With the growing popularity of motorsports, consumers have been looking for vehicles that offer high speed and performance, and the Powerglide shifter is an essential component for achieving this. Powerglide shifters are designed to provide a smooth and efficient shifting experience, which is why they are becoming increasingly popular among performance enthusiasts.
Additionally, technological advancements in the automotive industry are also expected to drive the growth of the Powerglide shifter market. The development of new materials and manufacturing processes has enabled the production of high-quality and durable Powerglide shifters that offer improved performance and reliability. Also, the integration of advanced features such as electronic shifting and clutchless shifting has made Powerglide shifters more user-friendly and convenient.
Moreover, the increasing popularity of drag racing and hot rods is another major factor that is projected to stimulate the market growth during the forecast period. Powerglide shifters are commonly used in these types of vehicles due to their ability to handle high levels of power and provide a smooth shifting experience. As the popularity of these sports continues to grow, so does the demand for Powerglide shifters.
Furthermore, the market growth is expected to propel, owing to the continually rising aftermarket for performance parts. With the increasing number of performance enthusiasts, there is a growing demand for aftermarket products that can improve the performance and reliability of their vehicles. Powerglide shifters are one of the popular products in this category, and their growing demand is anticipated to augment the growth of the Powerglide shifter market in the forthcoming years.
Besides, the rising popularity of pro street vehicles is also expected to escalate the revenue share of the market. Pro street vehicles are designed for both street use and high-performance driving, and the Powerglide shifter is an essential component for achieving the desired performance. With the increasing popularity of pro street vehicles, the demand for Powerglide shifters is expected to grow.
On the regional end, the Powerglide Shifter market in Asia Pacific is expected to account for the maximum share during the analysis period, owing to the factors such as the high demand for passenger cars and LCVs in the region, the increasing urbanization and rising disposable income, as well as the growing demand for high-performance vehicles.
On the other hand, the Powerglide Shifter market in Europe is expected to hold a significant growth rate over the forecast period, attributed to factors such as the increasing popularity of motorsports, and the increasing demand for advanced transmission technologies.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Powerglide Shifter are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in August 2022, TCI Automotive expanded its Outlaw-X Shifter product line. The new products include two finish options including the standard aluminum finish, or blackout versions, which have a slimmer design as well as new internals incorporated in them.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 32.5 Billion |
| Projected Market Value in 2033 | US$ 52.9 Billion |
| Growth Rate (2023 to 2033) | 5.0 % CAGR |
Demand for Powerglide Shifter will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Rise in demand for vehicles production and new product innovation is likely to boost the market.
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Powerglide shifter is installed in vehicles to upgrade their car transmissions as they offer consistent shifts at three speed with overdrive, with five, six and even seven speed automatics for changing gear.
The demand for the market is most likely to increase with the increase in vehicle production in developed and developing countries in the coming years. Manufacturers are investing in new machine technologies for improving product performance for powerglide shifters.
Over the forecast period, the market is likely to grow because of increase in retail and E- commerce market for automotive shifters. Automotive shifters for different car models are available for customers on E- commerce websites which is accelerating the sales of automotive shifters in many regions like South Asia & Pacific, East Asia and the Middle East. These shifters are used on a large scale for racing applications as well.
COVID-19 has had a huge impact on the automotive industry, but the market is slowly recovering from the losses of pandemic. With the gradual increase in vehicle production on a global level, the sales for automotive shifters will also surge in number.
Shifters are used for manual and automatic transmission systems which have gear sets that are useful to change gears in the car while driving. Aluminum cased powerglide is mostly used in electric vehicles which will grow with the production of electric vehicles especially in countries like Germany, USA and China.
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USA is one of the most lucrative markets for powerglide shifter. The USA market will increase in the coming years because of exponential growth in sales of vehicles and technological innovations by manufacturers. Due to pandemic the demand is likely to remain low for the next couple of years but as manufacturing facilities are gradually opening, vehicle production is likely to surge thus accelerating the automotive shifter market.
Demand for shifters in USA and Canada will be led by growth in automotive. The powerglide shifter market is also benefited from the availability of the product in the e-commerce platforms, which makes easier for the end users to purchase it directly from these platforms, without moving out.
Many countries in Asia Pacific have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. But the market is slowly recovering with the resume of automotive production in many countries and that is impacting the demand for automotive shifters.
Asia Pacific market is mostly driven by countries like China, India and Japan that have high population and also high demand for passenger cars and LCVs. In India and China, high three- wheeler demand is also accelerating the growth of automotive shifters.
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Some of the leading manufacturers and suppliers include
Many leading manufacturers are making power glide shifters for various car models which are of high quality with warranty. Aluminum and cast iron based power glides are used on a large scale by manufacturers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Powerglide Shifter Market
