Middle East & Africa Automotive Gear Shifter Market Size & Outlook
The automotive gear shifter market in Middle East & Africa is expected to reach a projected revenue of US$ 970.8 million by 2030. A compound annual growth rate of 6.1% is expected of Middle East & Africa automotive gear shifter market from 2024 to 2030.
Revenue, 2023 (US$M)
$640.9
Forecast, 2030 (US$M)
$970.8
CAGR, 2024 - 2030
6.1%
Report Coverage
Middle East & Africa
MEA automotive gear shifter market highlights
- The MEA automotive gear shifter market generated a revenue of USD 640.9 million in 2023.
- The market is expected to grow at a CAGR of 6.1% from 2024 to 2030.
- In terms of segment, solenoid actuator was the largest revenue generating component in 2023.
- Solenoid Actuator is the most lucrative component segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 640.9 million |
| Market revenue in 2030 | USD 970.8 million |
| Growth rate | 6.1% (CAGR from 2024 to 2030) |
| Largest segment | Solenoid actuator |
| Fastest growing segment | Solenoid Actuator |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solenoid Actuator |
| Key market players worldwide | ATS Corp, BorgWarner Inc, Eaton Corp PLC, Kongsberg Automotive Holdings ASA, ZF Group |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.5% of the global automotive gear shifter market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 11,440.6 million by 2030.
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Automotive Gear Shifter Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Kongsberg Automotive Holdings ASA | View profile | 5090 | Europaallee 39, Zurich, Switzerland, 8004 | https://www.kongsbergautomotive.com |
| ZF Group | View profile | 10001+ | Friedrichshafen, Baden-Wurttemberg, Germany, Europe | http://zf.com |
| BorgWarner Inc | View profile | 39900 | 3850 Hamlin Road, Auburn Hills, MI, United States, 48326 | https://www.borgwarner.com |
| ATS Corp | View profile | 7000 | 730 Fountain Street North, Building 2, Cambridge, ON, Canada, N3H 4R7 | https://www.atsautomation.com |
| Eaton Corp PLC | View profile | 94000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | https://www.eaton.com |
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