Global Automotive Instrument Cluster Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

Global Automotive Instrument Cluster Market: Overview

“The global Automotive Instrument Cluster market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The automotive instrument cluster is a set of information or console that includes a speedometer, and an analog gauge. The automotive instrument cluster has digital speedometers in which green numbers are displayed on a dark green or black background.

Global Automotive Instrument Cluster Market: Dynamics

Rising demand for advanced technology-based instruments i.e. instrument clusters in the automotive industry is expected to boost the growth of the global market over the forecast period.

In addition, rising concern towards comfortable and safe driving due to accurate information given by instrument clusters and increasing demand for automotive instrument clusters in luxury vehicles is also anticipated to bolster growth for the automotive instrument cluster market over the forecast period.

Increasing R&D activities for technologically advanced product development in the automotive instrument cluster is also projected to boost the growth of the target market during the forecast period.

However, the high cost of the automotive instrument cluster may hamper demand for the automotive instrument cluster and restrain growth of the global market over the forecast period.

Global Automotive Instrument Cluster Market: Segment Analysis

Among the technology type, the hybrid segment is expected to account for the highest growth in the global automotive instrument cluster market, owing to hybrid technology containing information in both analog and digital technology forms.

Increasing investments in the development of 3D graphics technology are also expected to propel the growth of the hybrid segment over the forecast period.

Among the vehicle type, the passenger car segment contributes a leading share in the global automotive instrument cluster market, due to the increasing adoption of advanced technology-based automotive instrument clusters in luxury passenger cars, with the moderate price including various new functionalities such as song selection option, navigation, and video display.

Global Automotive Instrument Cluster Market: Region Analysis

The market in North America accounted for the highest revenue share in the global market owing to the increasing adoption of the new advanced automotive instrument cluster in countries in the region. Europe is also accounting for the second highest share in the global automotive instrument cluster market.

The Asia Pacific automotive instrument cluster market is expected to grow at a lucrative rate in terms of revenue and volume in the global market over the forecast period, owing to increasing demand for vehicles and increasing the production of the vehicle in countries such as China, Japan, Korea, and India in the region.

Global Automotive Instrument Cluster Market Segmentation:

Segmentation by Technology Type:

• Analog
• Digital
• Hybrid

Segmentation by Display Type:

• LCD
• TFT-LCD
• OLED

Segmentation by Vehicle Type:

• passenger Car
• commercial Vehicle

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa