Global Automotive Instrument Panel Market 2017-2021
About Automotive Instrument Panel
An automotive instrument panel is present in front of the driver or operator and co-passenger in the automobile. It has the controls and instruments for the operation of the vehicle. The instrument panel has engine temperature gauge, fuel gauge, tachometer, speedometer, fuel economy gauges, odometer, and various other indicators, such as seat belt warning, parking brake engagement, tire-pressure monitoring system (TPMS), and an engine malfunction indicator. It also includes the storage spaces, which owners use to store some everyday needs.
Technavio’s analysts forecast the global automotive instrument panel market to grow at a CAGR of 3.02% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive instrument panel market for 2017-2021. 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 Instrument Panel Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive instrument panel market: Calsonic Kansei, Faurecia, IAC Group, and IAV.
Other Prominent Vendors in the market are: Changchun Faway-Johnson Controls Automotive Systems, Dongfeng Electronic Technology, Johnson Controls, Neaton Auto Products Manufacturing, and Reydel Automotive France.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is leather-wrapped car interiors across all vehicle segments. The market is observing the trend of increased use of leather in the instrument panel interiors. The buyers are demanding more and are driven toward more aesthetic look. Leather is a sturdy material and expresses luxury. The demand from the OEMs is largely increasing for leather-coated instrument panels.”
According to the report, one driver in the market is demand for advanced vehicle features in display and infotainment. Over the years, the consumer's preferences are rapidly changing, and even the technology used in the infotainment systems are evolving at a rapid pace. Until 1997, the vehicle infotainment systems were constrained to CDs, cassettes, and the radio. However, from 1996 to 2006, the industry saw a growing demand for safe and hassle-free navigation; automotive entertainment systems observed integration with CD changers, navigation, and phones. During 2006-2010, the infotainment market witnessed advancement in technology and the introduction of telematics with the phone integration and navigation systems.
Further, the report states that one challenge in the market is rise in car-sharing or pooling services in several countries. Carpooling is the service offered by a vehicle owner for sharing the vehicle journey for an itinerary. It reduces fuel costs, toll costs, and driving stress as more people use one vehicle. Carpooling reduces carbon emissions, traffic congestion, air pollution, and the need for parking spaces. Thus, it is an eco-friendly way to commute. Carpooling is expanding quickly and widely and will impact the sales of new vehicles. People who need to commute can choose carpool and reach their destination without owning a car. Sharing allows the users to avoid the investment needed to buy the vehicle. Instead, the users can pay for the service only when needed.
Calsonic Kansei, Faurecia, IAC Group, IAV, Changchun Faway-Johnson Controls Automotive Systems, Dongfeng Electronic Technology, Johnson Controls, Neaton Auto Products Manufacturing, and Reydel Automotive France.