Instrument Cluster Market: Summary
The Global Instrument Cluster Market is projected to reach around USD 12.26 Billion by 2027 at a CAGR of around 3.3%.
The instrument cluster contains various indicators and gauges that drivers depend on to learn important information on the current status of the automobile. In other words, automotive Instrument clusters provide drivers a centralized and easily viewable location for displaying all critical automobile information. Today’s instrument clusters provide graphical gauge readouts on large, high resolution color displays. Instrument cluster are divided into three types: digital, analog, and hybrid. Key players in the provision of instrument cluster are Continental AG, DENSO CORPORATION, Robert Bosch GmbH, Visteon Corporation, and Aptiv among others.
Instrument Cluster Market: Drivers & Restraint
- Increasing Adoption of Electric Vehicles in Developed Countries
Source: IEA 2019
According to IEA, Electric car deployment has been growing rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million in 2018, an increase of 63% from the previous year. Around 45% (2.3Billion~) of electric cars on the road in 2018 were in China. In comparison with China, Europe acquired 24% of total stock and United States acquired 22% of total electric vehicles stock. And hence, the adoption of electric vehicles is expected to drive the instrument cluster market during the forecast period.
- Increasing Demand for Luxury Vehicles
In current scenario, more global players are concentrating on providing digital cluster for high-end luxury vehicles. Manufacturers and suppliers uses LCD panels in instrument clusters for providing high-end graphics for wide variety of purposes. Color displays have seen remarkable growth in order to improve display panel expressivity and visibility. Audi AG, one of the manufacturers of luxury vehicles has developed virtual cockpit for their selected cars. This virtual cockpit contains 12.3-inch TFT display which shows all the information in razor-sharp, brilliantly clear and high-contrast quality. In this cockpit you can access tachometer, speedometer, navigation, and many more applications. Hence, these virtual cockpits are only made for luxury cars which creates an opportunity for instrument cluster market during projected years.
Instrument Cluster Market: Key Segments
- By Technology: Digital, Analog, and Hybrid
- By Vehicle: Two-Wheeler, Passenger Cars, Commercial Vehicles, and Others
- By Application: Speedometer, Tachometer, Odometer, Fuel Gauge, Gear Display, and Others
- Based on Region Covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.
Instrument Cluster Market: Report Scope
The report on the Instrument Cluster market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Technology, Vehicle, and Application
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
Key Companies Covered
- DENSO CORPORATION (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Continental AG
- Robert Bosch GmbH
- Visteon Corporation
- Marelli corporation
- Yazaki Corporation
- Nippon Seiki Co., Ltd.
- Mitsubishi Electric Corporation
- Ford Motor Company
- Panasonic Corporation
- Audi AG
- Cypress Semiconductor Corporation (Infineon)
- ASELSAN A.Ş.
- Other Key Companies
Instrument Cluster Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Instrument Cluster Market, by Technology
Instrument Cluster Market, by Vehicle
- Passenger Cars
- Commercial Vehicles
Instrument Cluster Market, by Application
- Fuel Gauge
- Gear Display
Instrument Cluster Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market worldwide?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the world?
- How are the key players leveraging in the present market scenario globally?
- Instrument Cluster Market Providers
- Instrument Cluster Market Solution and Services Suppliers
- End-Users of Varied Segments of Instrument Cluster Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Instrument Cluster MARKET STUDY