Instrument Cluster Market: Global Emerging Opportunities, Trends and Forecast Analysis (2022-2029)

Instrument Cluster market was valued at US$ 10.67Bn. in 2021 and expected to grow at a CAGR of 5.6 % during the forecast period (2022-2029). Thanks to the growing trend of single factor authentication segment use have boosted demand for Global Instrument Cluster Market.

Instrument Cluster Market Overview:

An instrument cluster is a combination of the speedometer, fuel gauge, tachometer, and odometer. Which is situated just below the steering of the vehicle and is sometimes called a dash or dashboard. This cluster instrument enables the driver to operate the vehicle by providing important information’s like vehicle speed, fuel level, seat belt warning, tire pressure monitoring, gear shift position and check engine light, etc. types of instrument cluster available in the market are mechanical, analog and digital instrument clusters. Increasing production of electric vehicles and day-to-day advancement in the instrument cluster are driving the growth of the market. As a result, global instrument cluster market is expected to reach US$ 14.80 Bn during the forecast period. Global Instrument Cluster MarketTo know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2021 to forecast the market through 2029.2021 is considered a base year however 2021’s numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Instrument Cluster Market Dynamics:

Growing demand for electric vehicles in the world to conserve the environment for the future, increasing design and production of two-wheeled vehicles, and government regulation towards the safety of humans are the major factors driving the market growth. According to the “International energy agency global EV sales was stood at 2.65 Mn. in the first half of 2021 and is expected to reach 145 Mn. by 2030. This potential growth in EV sales contributes to the growth of the instrument cluster market. According to “UNECE regulation” an instrument cluster should be displayed in direct and clear view of the driver while driving. Because instrument cluster with radio and climate control mechanisms enables the driver to a safe journey. New technological developments like “NXP's portfolio” launched cast-effective 2D and 3D displays which provide high-resolution color with a realistic view and “EMBITEL” a global leader, introduced “Digital instrument cluster” with features like phone and cloud connectivity, navigation, FOTA update module, and warning systems. These technological advancements are expected to boost the growth of the global market during the forecast period. Development of instrument clusters in two-wheelers like LCD, user interaction via BLE, TBT navigation, cloud, and phone connectivity are adding an advantage to the market growth. Recently TVS made an investment of 1200 Cr for the development of electric vehicles in India. This decision was made after OLA Electric entered the EV market. These developments in the two-wheeler segment are expected to boost the market growth during the forecast period. Some of the factors affecting the growth of the instrument cluster market are they are highly expensive, the repair cost is high at the time of the malfunction, chances of losing reliability, increasing effect of noise, and are highly sensitive to atmospheric conditions.

Instrument Cluster Market Segmentation:

Based on Type Segment, The instrument cluster market is sub-segmented into analog and digital. The digital segment dominates the global market and it held a share of 70% in 2021. The digital instrument cluster consists of a microprocessor and graphics controller for its operation. They provide more precise reading, they provide better readability and very little in energy consumption because of these features digital segment has high demand in the market. The factors affecting the growth of the analog segment are parallax errors may hamper its precision and it does not contain any refreshing units for better readings. Global Instrument Cluster MarketBased on Application Segment, the Instrument Cluster market is sub-segmented into odometer, speedometer, and tachometer. The hybrid segment dominates the global market and was valued at US$ 5.5 Bn. in 2021. The speedometer is used to know the speed of moving vehicles. The speedometer helps in reducing the traffic accidents caused by speeding and maintains a stable traffic environment. Increased manipulation in the odometer reading and lack of precision affect the growth of the market. Based on the End-user Segment, the Instrument Cluster market is sub-segmented into two-wheeler, passenger, and commercial vehicles. The passenger segment dominates the market and it held a share of 50% in 2021. Increasing buying preference of the passenger vehicle and attraction towards the new design of instrument cluster drawing the growth of the market. Need of vehicle safety and government initiatives adding an advantage to the market growth.

Instrument Cluster Market regional insights:

North America is the dominating region in the instrument cluster market. The presence of major key players like TESLA, FORD, GMC, and LINCOLN, increased advancement in automotive equipment, digitization, and growing buying trend of luxury vehicles in this region attracting the growth of the instrument cluster market. Development in human-machine interface and voice-based communication adds an advantage to the market growth. In April 2013, TVS Motor Company and BMW Motorrad made an agreement to manufacture sub-500cc motorcycles which included the USA market and recently TOYOTA launched its new electric vehicle variant “Toyota’s bZ4X” in the USA which attracting the large consumer in this region. These are some recent developments creating the demand for the instrument cluster market. Asia-Pacific is the second dominating region in the global instrument cluster market. Increasing disposal income, the Indian government initiate to “MAKE IN INDIA”, increasing investment in technology and infrastructure developments in the region creating demand for the instrument cluster market. BMW the global automotive leader invested in china for its development of the i3 electric sedan and TVS an Indian automobile manufactures launched its “TVS Apache RR 310, and TVS NTorq 125 Scooter” in the Philippines. These developments create the demand for the growth of the instrument cluster market. The objective of the report is to present a comprehensive analysis of the global Instrument Cluster market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Instrument Cluster market dynamics, structure by analyzing the market segments and projecting the Instrument Cluster market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Instrument Cluster make the report investor’s guide.

Instrument Cluster Market Scope: Inquiry Before Buying

Instrument Cluster Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $  10.67Bn.
Forecast Period 2022 to 2029 CAGR: 5.6 % Market Size in 2029: US $ 16.50 Bn.
Segments Covered: by Type • Analog • Digital
by Application • Odometer • Speedometer • Tachometer
by End-User • Two-Wheeler • Passenger • Commercial vehicles

Instrument Cluster Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Instrument Cluster Market Key Players

• Continental • DENSO • Visteon • Nippon Seiki • Magneti Marelli • Aptiv • Calsonic Kansei • Pricol • Robert Bosch • Yazaki • Alpine Electronics • Cypress Semiconductor • Dongfeng Electronic Technology • JP Minda • Luxoft • Mini Meters Manufacturing • NVIDIA • Panasonic Automotive • Parker Hannifin • Stoneridge Frequently Asked Questions: 1. Which region has the largest share in Instrument Cluster Market? Ans: North-America held the largest share in 2021. 2. What is the growth rate of the Instrument Cluster Market? Ans: The Instrument Cluster Market is growing at a CAGR of 5.6 % during the forecasting period 2022-2029. 3. What segments are covered in Instrument Cluster Market? Ans: Instrument Cluster Market is segmented into type, application, and end-user. 4. Who are the key players in Instrument Cluster Market? Ans: Continental, DENSO, Visteon, Nippon Seiki, Magneti Marelli, Aptiv, Calsonic Kansei, Pricol, Robert Bosch, Yazaki ,Alpine Electronics, Cypress Semiconductor, Dongfeng Electronic Technology, JP Minda, Luxoft, Mini Meters Manufacturing, NVIDIA, Panasonic Automotive, Parker Hannifin, and Stoneridge 5. What is the study period of this market? Ans: The Instrument Cluster Market is studied from 2021 to 2029.
1. Global Instrument Cluster Market: Research Methodology 2. Global Instrument Cluster Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Instrument Cluster Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Instrument Cluster Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Instrument Cluster Market Segmentation 4.1 Global Instrument Cluster Market, by Type (2021-2029) • Analog • Digital 4.2 Global Instrument Cluster Market, by Application (2021-2029) • Two-Wheeler • Passenger • Commercial vehicles 4.3 Global Instrument Cluster Market, by End-User (2021-2029) • Two-Wheeler • Passenger • Commercial Vehicles 5. North America Instrument Cluster Market (2021-2029) 5.1 Global Instrument Cluster Market, by Type (2021-2029) • Analog • Digital 5.2 Global Instrument Cluster Market, by Application (2021-2029) • Two-Wheeler • Passenger • Commercial vehicles 5.3 Global Instrument Cluster Market, by End-User (2021-2029) • Two-Wheeler • Passenger • Commercial Vehicles 5.4 North America Instrument Cluster Market, by Country (2021-2029) • United States • Canada • Mexico 6. Asia Pacific Instrument Cluster Market (2021-2029) 6.1. Asia Pacific Instrument Cluster Market, by Type (2021-2029) 6.2. Asia Pacific Instrument Cluster Market, by Application (2021-2029) 6.3. Asia Pacific Instrument Cluster Market, by End-User (2021-2029) 6.4. Asia Pacific Instrument Cluster Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Instrument Cluster Market (2021-2029) 7.1 Middle East and Africa Instrument Cluster Market, by Type (2021-2029) 7.2. Middle East and Africa Instrument Cluster Market, by Application (2021-2029) 7.3. Middle East and Africa Instrument Cluster Market, by End-User (2021-2029) 7.4. Middle East and Africa Instrument Cluster Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Instrument Cluster Market (2021-2029) 8.1. Latin America Instrument Cluster Market, by Type (2021-2029) 8.2. Latin America Instrument Cluster Market, by Application (2021-2029) 8.3. Latin America Instrument Cluster Market, by End-User (2021-2029) 8.4. Latin America Instrument Cluster Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 9. European Instrument Cluster Market (2021-2029) 9.1. European Instrument Cluster Market, by Type (2021-2029) 9.2. European Instrument Cluster Market, by Application (2021-2029) 9.3. European Instrument Cluster Market, by End-User (2021-2029) 9.4. European Instrument Cluster Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Continental 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 DENSO 10.3 Visteon 10.4 Nippon Seiki 10.5 Magneti Marelli 10.6 Aptiv 10.7 Calsonic Kansei 10.8 Pricol 10.9 Robert Bosch 10.10 Yazaki 10.11 Alpine Electronics 10.12 Cypress Semiconductor 10.13 Dongfeng Electronic Technology 10.14 JP Minda 10.15 Luxoft 10.16 Mini Meters Manufacturing 10.17 NVIDIA 10.18 Panasonic Automotive 10.19 Parker Hannifin 10.20 Stoneridge

About This Report

Report ID 2456
Category Electronics
Published Date Aug 2019
Updated Date Sept 2022
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