Instrument Cluster Market size was valued at USD 10.9 billion in 2023 and is expected to grow to USD 15.2 billion by 2031 and grow at a CAGR Of 4.2 % over the forecast period of 2024-2031.
The instrument cluster is positioned immediately in front of the steering wheel, putting all of the instruments in the driver's natural line of sight. Many early automobiles have coolant temperature gauges built straight into the radiator caps, many have turn signal lights positioned at the front and top end of each fender, and some have tachometers mounted on the bonnet. When the earliest automobiles left the sheds and bars where they were constructed (or even when the first mass-produced cars were on sale), they didn't have instrument clusters. They possessed no instruments at all. Instead of resembling modern automobiles, these early vehicles were more like the carriages of the day.
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KEY DRIVERS:
Increasing inclination toward digital solutions.
Demand for digital instrument clusters will increase due to the rapid growth of premium electric vehicles.
The market for digital instrument clusters is anticipated to increase quickly along with the sales of electric cars. For a better user experience, manufacturers are implementing improved visual displays in digital instrument clusters. These displays, for instance, continuously display information such as the time till the next charge, the number of charged batteries, and other crucial data. Advanced visual digital systems are becoming more popular on the market as part of the evolution. The dashboard and display appearance are both improved by the graphic display, which makes things clearer and easier to see. The need for digital systems is expected to rise as automotive LCDs and LEDs' resolution and size improve to accommodate growing demand.
RESTRAIN:
Costly digital clusters will impede market expansion
The significant barrier impeding this market's expansion is the high price of digital technology. High display, integrated circuit, and maintenance costs might stifle market expansion. Another issue that is slowing the expansion of the business globally is the growing risk of cyberattacks on digital devices in cars.
OPPORTUNITY:
Significant Growth in the Hybrid Segment is Anticipated During the Forecast Period
The market has been divided into analog clusters, hybrid clusters, and digital clusters based on cluster type. During the projected period, it is expected that the hybrid segment would hold a majority of the digital instrument cluster market share. The hybrid system combines an analog and digital display to provide data like speed, fuel efficiency, mileage, and temperature in both formats. The digital display system consists of an LCD screen that shows all the information, such as temperature, distance traveled, traffic statistics, and other warning indications, as opposed to the analog system, which consists of a speedometer and an odometer. According to predictions, the digital system will rule the market throughout this time.
CHALLENGES:
Technological Advancement
Passenger Cars to Maintain Significant Market Share
The market is further divided into the passenger car, light commercial vehicle, heavy commercial vehicle, and electric vehicle categories based on vehicle type. During the projected period, the passenger car category is anticipated to dominate the market period. The passenger automobile segment's entry-level and mid-sized vehicles command the biggest market share. Furthermore, growing urbanization, a high population rate, a better quality of life, and an increase in people's disposable money are driving up passenger vehicle sales and production, which in turn is driving up demand for passenger automobiles throughout the world.
IMPACT OF RUSSIAN UKRAINE WAR
The crisis between Russia and Ukraine has made the logistical and supply chain problems that have already plagued the global car sector worse. All indications point to a likely decline in output figures, especially for the Europe area. According to automobile research company S&P Global Mobility, the battle has shortages of secondhand parts for important car parts.
IMPACT OF ONGOING RECESSION
The Delays in the supply chain have also been a significant cause of inflation, although part of the stress on the system should truly be attributed to the unexpected rise in demand. More than half of major countries, including the US and the euro area, had inflation rates over 5% even before hostilities began, thus the war aggravated an already challenging position. Before the conflict, Russia and Ukraine exported 25% of the world's wheat, and Russia is a significant source of fossil fuels, particularly to Europe. Price increases are being caused by disruptions in certain commodities' suppliers.
By Vehicle Type
Passenger Car
Commercial
Two-wheeler
Agriculture
Ofthighway
By Technology
Analog
Hybrid
Digital
By Application
Speedometer
Odometer
Tachometer
Others (Temperature Gauge, Fuel Gauge, Oil Pressure Gauge)
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Asia-Pacific now holds the largest market share and is anticipated to continue to rule the industry over the coming years. Some of the key nations driving the market expansion in this area are Japan, China, and India. Government programs for the automobile sector in some emerging nations, like China and India, are eventually fostering the expansion of the market in the Asia-Pacific area.
The second-largest region in the market after Asia-Pacific is Europe, which is anticipated to have considerable expansion over the projected period. Due to the existence of the hybrid and digital sectors are more prevalent in this region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
The Major Players are Continental (Germany), DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Magnet Marelli (Italy), Aptiv (UK), Calsonic Kansei (Japan), Pricol (India), Robert Bosch (Germany), and Yazaki (Japan) and other players are listed in the final report.
Calsonic Kansei (Japan)-Company Financial Analysis
Renault Mégane E-TECH electric and HARMAN International established a partnership in September 2021. The partnership between Companies were formed to modify the vehicle's interior. The firm is introducing brand-new in-car experiences for consumers and drivers. There should be new items on the market with the greatest features and innovative styles.
| Report Attributes | Details |
| Market Size in 2023 | US$ 10.9 Bn |
| Market Size by 2031 | US$ 15.2 Bn |
| CAGR | CAGR of 4.2 % From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Vehicle Type (Passenger Car, Commercial, Two-wheeler, Agriculture, Ofthighway) • By Technology (Analog, Hybrid, Digital) • By Application (Speedometer, Odometer, Tachometer, Others (Temperature Gauge, Fuel Gauge, Oil Pressure Gauge)) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Continental (Germany), DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Magnet Marelli (Italy), Aptiv (UK), Calsonic Kansei (Japan), Pricol (India), Robert Bosch (Germany), and Yazaki |
| Key Drivers | • Increasing inclination toward digital solutions. • Demand for digital instrument clusters will increase due to the rapid growth of premium electric vehicles. |
| Market Opportunities | • Significant Growth in the Hybrid Segment is Anticipated During the Forecast Period |
Ans: The instrument Cluster Market is anticipated to expand by 4.2 % from 2024 to 2031.
Ans: Digital Out Of Home Market is growing at a CAGR Of 10.9% over the forecast period of 2023-2030.
Ans: The instrument Cluster Market size was valued at USD 10.9 billion in 2023.
Ans: Asia-Pacific now holds the largest market share
Ans: Technological Advancement and Passenger Cars to Maintain Significant Market Share
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Instrument Cluster Market Segmentation, By Vehicle Type
8.1 Passenger Car
8.2 Commercial
8.3 Two-wheeler
8.4 Agriculture
8.5 Ofthighway
9. Instrument Cluster Market Segmentation, By Technology
9.1 Analog
9.2 Hybrid
9.3 Digital
10. Instrument Cluster Market Segmentation, By Application
10.1 Speedometer
10.2 Odometer
10.3 Tachometer
10.4 Others (Temperature Gauge, Fuel Gauge, Oil Pressure Gauge)
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1North America Instrument Cluster Market by Country
11.2.2North America Instrument Cluster Market by Vehicle Type
11.2.3 North America Instrument Cluster Market by Technology
11.2.4 North America Instrument Cluster Market by Application
11.2.5 USA
11.2.5.1 USA Instrument Cluster Market by Vehicle Type
11.2.5.3 USA Instrument Cluster Market by Technology
11.2.5.4 USA Instrument Cluster Market by Application
11.2.6 Canada
11.2.6.1 Canada Instrument Cluster Market by Vehicle Type
11.2.6.3 Canada Instrument Cluster Market by Technology
11.2.6.4 Canada Instrument Cluster Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Instrument Cluster Market by Vehicle Type
11.2.7.3 Mexico Instrument Cluster Market by Technology
11.2.7.4 Mexico Instrument Cluster Market by Application
11.3 Europe
11.3.1 Europe Instrument Cluster Market by Country
1.3.3.2 Europe Instrument Cluster Market by Vehicle Type
11.3.3 Europe Instrument Cluster Market by Technology
11.3.4 Europe Instrument Cluster Market by Application
11.3.5 Germany
11.3.5.1 Germany Instrument Cluster Market by Vehicle Type
11.3.5.2 Germany Instrument Cluster Market by Technology
11.3.5.3 Germany Instrument Cluster Market by Application
11.3.6 UK
11.3.6.1 UK Instrument Cluster Market by Vehicle Type
11.3.6.2 UK Instrument Cluster Market by Technology
11.3.6.3 UK Instrument Cluster Market by Application
11.3.7 France
11.3.7.1 France Instrument Cluster Market by Vehicle Type
11.3.7.2 France Instrument Cluster Market by Technology
11.3.7.3 France Instrument Cluster Market by Application
11.3.8 Italy
11.3.8.1 Italy Instrument Cluster Market by Vehicle Type
11.3.8.2 Italy Instrument Cluster Market by Technology
11.3.8.3 Italy Instrument Cluster Market by Application
11.3.9 Spain
11.3.9.1 Spain Instrument Cluster Market by Vehicle Type
11.3.9.2 Spain Instrument Cluster Market by Technology
11.3.9.3 Spain Instrument Cluster Market by Application
11.3.10 The Netherlands
11.3.10.1 Netherlands Instrument Cluster Market by Vehicle Type
11.3.10.2 Netherlands Instrument Cluster Market by Technology
11.3.10.3 Netherlands Instrument Cluster Market by Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Instrument Cluster Market by Vehicle Type
11.3.11.2 Rest of Europe Instrument Cluster Market by Technology
11.3.11.3 Rest of Europe Instrument Cluster Market by Application
11.4 Asia-Pacific
11.4.1 Asia Pacific Instrument Cluster Market by Country
11.4.2 Asia Pacific Instrument Cluster Market by Vehicle Type
11.4.3 Asia Pacific Instrument Cluster Market by Technology
11.4.4 Asia Pacific Instrument Cluster Market by Application
11.4.5 Japan
11.4.5.1 Japan Instrument Cluster Market by Vehicle Type
11.4.5.2 Japan Instrument Cluster Market by Technology
11.4.5.3 Japan Instrument Cluster Market by Application
11.4.6 South Korea
11.4.6.1 South Korea Instrument Cluster Market by Vehicle Type
11.4.6.2 South Korea Instrument Cluster Market by Technology
11.4.6.3 South Korea Instrument Cluster Market by Application
11.4.7 China
11.4.7.1 China Instrument Cluster Market by Vehicle Type
11.4.7.2 China Instrument Cluster Market by Technology
11.4.7.3 China Instrument Cluster Market by Application
11.4.8 India
11.4.8.1 India Instrument Cluster Market by Vehicle Type
11.4.8.2 India Instrument Cluster Market by Technology
11.4.8.3 India Instrument Cluster Market by Application
11.4.9 Australia
11.4.9.1 Australia Instrument Cluster Market by Vehicle Type
11.4.9.2 Australia Instrument Cluster Market by Technology
11.4.9.3 Australia Instrument Cluster Market by Application
11.4.10 Rest of Asia-Pacific
11.4.10.1 APAC Instrument Cluster Market by Vehicle Type
11.4.10.2 APAC Instrument Cluster Market by Technology
11.4.10.3 APAC Instrument Cluster Market by Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Instrument Cluster Market by Country
11.5.2 The Middle East & Africa Instrument Cluster Market by Vehicle Type
11.5.3 The Middle East & Africa Instrument Cluster Market by Technology
11.5.4 The Middle East & Africa Instrument Cluster Market by Application
11.5.6 Israel
11.5.6.1 Israel Instrument Cluster Market by Vehicle Type
11.5.6.2 Israel Instrument Cluster Market by Technology
11.5.6.3 Israel Instrument Cluster Market by Application
11.5.6 UAE
11.5.6.1 UAE Instrument Cluster Market by Vehicle Type
11.5.6.2 UAE Instrument Cluster Market by Technology
11.5.6.3 UAE Instrument Cluster Market by Application
11.5.7 South Africa
11.5.7.1 South Africa Instrument Cluster Market by Vehicle Type
11.5.7.2 South Africa Instrument Cluster Market by Technology
11.5.7.3 South Africa Instrument Cluster Market by Application
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Instrument Cluster Market by Vehicle Type
11.5.8.2 Rest of Middle East & Asia Instrument Cluster Market Technology
11.5.8.2 Rest of Middle East & Asia Instrument Cluster Market by Application
11.6 Latin America
11.6.1 Latin America Instrument Cluster Market by Country
11.6.2 Latin America Instrument Cluster Market by Vehicle Type
11.6.3 Latin America Instrument Cluster Market by Technology
11.6.4 Latin America Instrument Cluster Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Instrument Cluster Market by Vehicle Type
11.6.5.2Brazil Instrument Cluster Market by Technology
11.6.5.3 Brazil Instrument Cluster Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Instrument Cluster Market by Vehicle Type
11.6.6.2 Argentina Instrument Cluster Market by Technology
11.6.6.3 Argentina Instrument Cluster Market by Application
11.6.7 Rest of Latin America
11.6.7.1 Rest of Latin America Instrument Cluster Market by Vehicle Type
11.6.7.2 Rest of Latin America Instrument Cluster Market by Technology
11.6.7.3 Rest of Latin America Instrument Cluster Market by Application
12. Company Profile
12.1 Continental (Germany)
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 DENSO (Japan),
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Visteon (US),
12.4.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Nippon Seiki (Japan)
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Magnet Marelli (Italy)
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Aptiv (UK),
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Calsonic Kansei (Japan),
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Pricol (India),
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Robert Bosch (Germany)
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Yazaki (Japan)
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. USE Cases and Best Practices
16. Conclusion
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