Instrument Cluster Market

According to the research report on "Instrument Cluster Market by Application (Speedometer, Odometer, Tachometer, and Others), Vehicle Type (Passenger Car, Commercial, Two-wheeler, Agriculture, Off-highway), Technology (Analog, Hybrid, Digital), and Geography - Global Forecast to 2023", the instrument cluster market, the overall market is estimated to be worth USD 9.02 Billion in 2018 and is expected to reach USD 10.72 Billion by 2023, at a CAGR of 3.5% between 2018 and 2023. Increasing vehicle production worldwide and stringent government regulations for vehicle and passenger safety across the globe are the major drivers for the growth of the instrument cluster market.

Browse 67 tables and 57 figures spread through 143 pages and in-depth TOC on "Instrument Cluster Market  - Global Forecast to 2023"
https://www.marketsandmarkets.com/Market-Reports/instrument-cluster-market-255415383.html
Early buyers will receive 10% customization on reports.

Hybrid instrument cluster expected to hold a major share during the forecast period

Hybrid instrument cluster led the market in 2017. Hybrid instrument clusters are used in various vehicles, such as two-wheelers, passenger cars, buses and coaches, among others. The increasing adoption of hybrid instrument clusters for passenger cars and commercial vehicles is expected to drive the market during the forecast period. The increasing sales of passenger and commercial vehicles will simultaneously increase the demand for hybrid instrument clusters.

Two-wheeler expected to grow at a high CAGR between 2018 and 2023

Two-wheeler is expected to grow at the highest CAGR during the forecast period. APAC is the leading two-wheeler market, with the major demand driven by China and India. Globally, India was the leading country in 2016-17 for the sales of two-wheelers (17.7 million units), followed by China (Source: Society of Indian Automobile Manufacturers and China Association of Automobile Manufacturers). Factors such as large middle-class population, young population, launches of new models, increase in per capita income, and changing lifestyles increase the consumption tendency of customers, thus acting as driving factors for increased buying preference for passenger cars and two-wheelers. Greater fuel efficiency is also one of the major factors that affect consumer purchase decision. This will compel leading companies across two-wheelers segment to focus on delivering performance-oriented vehicles.

APAC expected to hold a major share of instrument cluster market between 2018 and 2023

Asia Pacific is expected to hold the largest share of the instrument cluster market during the forecast period. In APAC, China is expected to be the major contributor for the instrument cluster market between 2018 and 2023. This is due to the increasing sales of different types of vehicles such as passenger cars, two-wheelers, and commercial vehicles. The automotive industry in Asia Pacific has been very dynamic over the past few years, owing to changing consumer preferences, rapid urbanization, increasing per capita income of the middle-class population, and low vehicle cost. The region is known for producing compact and cost-effective cars and comprises some of the fastest-developing economies of the world, including China and India.

Major players profiled in the instrument cluster market report are Continental (Germany), DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Magneti Marelli (Italy), Aptiv (UK), Calsonic Kansei (Japan), Pricol (India), Robert Bosch (Germany), and Yazaki (Japan). The report also includes profiles of companies such as Alpine Electronics (Japan), Cypress Semiconductor (US), Dongfeng Electronic Technology (China), JP Minda (India), Luxoft (Switzerland), Mini Meters Manufacturing (India), NVIDIA (US), Panasonic Automotive (Germany), Parker Hannifin (US), and Stoneridge (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]