Gear knob is the mounting on the top of the gear shift lever with the line diagram of the gear shift pattern engraved or printed on it. The gear knob is provided on each gear shift lever for the convenience in gear shifting, and it is an integral part of the gear lever. Gear levers can be made of different material designed according to the required size in order to offer maximum comfort to the driver.
Demand for the gear knob is growing at a significant pace due to the demand for more comfortable and luxurious gear knobs by customers. Several people prefer gear knob covers on the gear knobs to protect the gear knobs from any damage and to obtain better grip while driving. The market for the customized gear knobs is witnessing expansion due to the growing passion for automobiles among youngsters. Arrival of the autonomous vehicles in the market can be a restraining factor for the gear knob market due to removal of the gear lever from the cabin.
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The gear knob market for vehicles can be segmented based on transmission system, sales channel, material, vehicle type, and region.
In terms of transmission system, the gear knob market can be segmented into three categories, among which, the manual transmission segment is expected to hold a major share; however the other segments are gaining popularity, which are expected to expand at a significant pace during the forecast period. The manual transmission segment can be further split into two sub-segments, as the number of speed gears of the vehicle transmission segment affect the design of the gear knob.
Based on the sales channel, the gear knob market can be segregated into two segments as original equipment manufacturer (OEM) and Aftermarket. The original equipment manufacturer (OEM) segment hold the major market share. The OEM segment is expected to maintain its dominant position during the forecast period due to the increasing production of the vehicles and improved lifespan of the gear knobs. Trend of installing customized knob is also increasing due to its attractive appearance and ease in gear shifting.
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Based on material, the gear knob market for vehicles can be classified into three segments. Among them, plastic material is a leading segment and is expected to maintain its dominance due to better life span as compared to the other segments. Plastic gear knobs are generally installed in most the standard vehicles segment and commercial vehicles. Increase in production of these vehicles is anticipated to propel the gear knob market.
In terms of vehicles, the gear knob market for vehicles can be classified into two major segments. Among them, the passenger vehicles segment is likely to hold a major share of the market due to the high production of passenger vehicles, as compared to any other segment of vehicles.
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Based on region, the gear knob market for vehicles can be segmented into five regions. Among them, Asia Pacific is expected dominate the market due to the presence of a high number of manufacturing facilities in the region. High production of the vehicles in the region is another major factor boosting the market in the region.
Key players operating in the global gear knob market for vehicles include PANORAMA AUTOMOTIVE INDUSTRIES PVT. LTD., Parker Hannifin Corp, Eissmann Group Automotive, American Shifter Company, TWM Performance and Central Manufacturing Company, Inc. The gear knob market is highly fragmented market and is witnesses the presence of several small manufacturers.
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