Global Automotive Cockpit Module Market 2018-2022
About Automotive Cockpit Module
Automotive cockpit module is the assembly that consists of heating, ventilation, and air conditioning (HVAC) units, ducts, electronic units, wiring harnesses, and instrument panels that are built around the steering system.
Technavio’s analysts forecast the global automotive cockpit module market to grow at a CAGR of 4.53% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive cockpit module market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Cockpit Module Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive cockpit module market: Continental, Delphi, Faurecia, Harman International, HYUNDAI MOBIS, and Visteon.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is use of lightweight materials. Over the years, there has been a considerable increase in consumer demand for automobiles with improved fuel efficiency, primarily because of the rise in fuel prices. Automobile manufacturers are increasingly exploring solutions that can reduce the weight of automobiles, to enhance fuel efficiency.”
According to the report, one driver in the market is increasing demand for automotive in emerging countries. The demand for automotive is rising in emerging economies such as Brazil, China, Mexico, and India, due to the increased purchasing power of consumers and significant economic growth. The growth in emerging markets, in step with ongoing industrialization, and global trade activity, especially in the BRIC countries, have been vigorous.
Further, the report states that one challenge in the market is high cost pressure on OEMs. The automotive industry had witnessed a structural change post the financial crises of 2008, when most of the North American OEMs were on the verge of bankruptcy. An introspective view of this situation shows how the OEMs had been taking a hit on profitability to cater to the price-sensitive consumers without transferring much of the liability and risk to the other stakeholders in the value chain, which includes tire-1 suppliers and component manufacturers.
Continental, Delphi, Faurecia, Harman International, HYUNDAI MOBIS, and Visteon.
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