Automotive Instrument Cluster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Instrument Cluster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global automotive instrument cluster market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

An automotive instrument cluster is a system placed in front of the driver in a vehicle that displays crucial information about the car. A tachometer, speedometer, odometer, temperature gauge, warning indication, and fuel gauge are some key components. These gauges, along with all the warning lights and displays, are built into a single instrument cluster module. It mainly consists of needle gauges driven by stepper motors. An automotive instrument cluster is usually located directly ahead of the driver (or pilot) to keep them informed and updated by delivering information about the vehicle.

Automotive Instrument Cluster Market Trends:
The increasing popularity of electric vehicles (EVs) across the globe due to the implementation of various government initiatives to reduce carbon emissions is creating a positive outlook for the market. The automotive instrument cluster is essential for EVs to display information related to range, state of charge, navigation, driving mode, charging capacity, and energy flow. Moreover, the introduction of sporty and appealing product variants that display additional information systems, such as radio, onboard computer, internet, navigation, and driver assistance features, are providing an impetus to the market growth. Apart from this, the increasing digitalization, and the launch of automotive instrument clusters with two- and three-dimensional (2D/3D) graphics to simply display more complex data is acting as another growth-inducing factor. Additionally, manufacturers are focusing on incorporating all-digital technologies and improving the resolution and size of automobile LEDs and LCDs, which, in turn, is positively influencing the market growth. Other factors, including the increasing inclination toward digital solutions, extensive research and development (R&D) activities, rising expenditure capacities of consumers, and continual technological advancements, are supporting the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive instrument cluster market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on cluster type, vehicle type, sales channel and application.

Breakup by Cluster Type:

Analog
Digital
Hybrid

Breakup by Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicle

Breakup by Sales Channel:

OEM
Aftermarket

Breakup by Application:

Speedometer
Odometer
Tachometer
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alps Alpine Co Ltd, Continental AG, JPM Group, Nippon Seiki Co. Ltd., Pricol Limited, Robert Bosch GmbH (Robert Bosch Stiftung GmbH), Simco Auto Limited, Valid Manufacturing Ltd and Visteon Corporation.

Key Questions Answered in This Report:
How has the global automotive instrument cluster market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive instrument cluster market?
What are the key regional markets?
What is the breakup of the market based on the cluster type?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the sales channel?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive instrument cluster market and who are the key players?
What is the degree of competition in the industry?