Automotive Instrument Panel Market to grow by 30.87 million units through 2025|Impacts of Drivers and Challenges|Technavio
NEW YORK, May 25, 2021 /PRNewswire/ —
The “Automotive Instrument Panel Market by Application and Geography – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering.
The automotive instrument panel market is set to grow by 30.87 million units, progressing at a CAGR of over 6% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Automotive Instrument Panel Market: Segmentation by Application
Based on the segmentation by application, the market generated maximum revenue in the passenger cars segment in 2020. Due to factors such as higher production and sales volume in the global automotive market, increasing demand for safety and comfort features in passenger cars, and the strong focus of OEMs on product differentiation, there will be an increase in the automotive instrument panel in passenger cars. The growth of the segment will be significant over the forecast period.
Automotive Instrument Panel Market: Segmentation by Geography
55% of the market’s growth will originate from APAC and held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the government incentives, low costs, and raw material advantages which will significantly influence the automotive instrument panel growth over the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the automotive instrument panel market in APAC.
Automotive Instrument Panel Market: Opportunities
Factors such as the Leather-wrapped car interiors across all vehicle segments, the VOC emissions pushing manufacturers to explore new materials and production techniques, and the product developments and innovations in the design of instrument panels are enhancing the growth of the market. Over the years, countries across the world have been making significant investments in the automotive sector. This will create considerable demand for the automotive instrument panel market, thereby opening several growth opportunities for market vendors.
Know more about Techanavio’s analysis on the impact of Disruption Threats comparing Disruptive sources and Factors driving disruption:
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Key Market Dynamics:
- In-car personalization experience
- Demand for advanced vehicle features in safety and comfort controls
- Demand for advanced vehicle features in display and infotainment
- Rise in car-sharing or pooling services in several countries
- Low-volume vehicles impacting the margins of instrument panel manufacturers
- Growing dependency on public transport
- Continental AG
- DENSO Corp.
- Faurecia SE
- IAV GmbH
- International Automotive Components Group SA
- Johnson Controls International Plc
- Marelli Holdings Co. Ltd.
- Motherson Sumi Systems Ltd.
- Nihon Plast Co. Ltd
- Robert Bosch GmbH
Get more insights about the global trends impacting the future of the automotive instrument panel market,
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Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the automotive instrument panel market report.
- Further breakdown of the market segmentation in requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
Key Topics Covered
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Geography
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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