Global Automotive Control Panel Market 2020 research report by Market Research Future delivers a close watch on leading competitors with strategic analysis. Through this, the study revealed that the global automotive control panel market in the future is anticipated to expand at a rate of 7% in the forecast period of 2017-2023.
Top Impacting Factors
The recent years have been witnessing a revival of advanced technological development in automobiles all over the world. With cheap labor and raw materials in various countries such as India and China, the complex electronic materials are readily available. Therefore the development of the electronics and communications industry also plays a pivotal role in the growth of the automotive control panel market. In fact, stringent safety norms and escalating vehicle electrification has led to innovations and growth of the control panel systems. All these factors have made the market most rated in recent time and expects for a high valuation to score in the forecast period.
The demand for enhanced cabin comfort and convenience features is also liable for driving the growth of the automotive control panel market. Also, the demand for interior styling and development of solar sunroofs are some of the opportunities that could promote and drive the automotive control panel market and make it more and more valuation than the present. As it is known that the control panel provides the driver with operational knowledge of various systems of the vehicle. Control panels figure as an integral part of passenger cars, motorcycles, airplanes, ships, boats, and other vehicles. These features are creating high demand opportunities for market players to invest more than ever.
Furthermore, other factors causative to the growth of the automotive control panels market are accredited to the rapid urbanization, rise in demand for interior comfort, and rise in the sales of luxury cars. In spite of all these factors, the maintenance cost involved in the repairing of the control panel systems might create a moderate retraining impact on the market’s growth of the automotive control panel throughout the forecast period.
Segmentation of Market: Automotive Control Panel
The global automotive control panel market size has been segmented based on the control panel type, component type, and vehicle type.
Depending on the control panel type, the automotive control panel market has included push-button, manual, and touch screen. Out of which, the push button segment might rise, carrying the highest CAGR during the assessment period. The push-button control panel included buttons and switches to manage operations. The designing of control panels with push buttons require different components and designing of graphics and charts. All these are there to implement wiring installed components such as start push-buttons, emergency stop buttons, sound elements, and buttons with LEDs or LED lighting.
Depending on component type, the automotive control panel market has included segments such as a rotary switch, touchpad, roof light, smart roof, looking function, side mirror, door panel light, driver monitoring camera, electric window, and more.
Depending on the vehicle type segment, the market has included passenger cars and commercial vehicles.
Geologically, the global automotive control panel market study has been studied among significant regions such as Asia Pacific, Europe, North America, and the Rest of the World.
Countries such as China have the existence of a large number of automobile control panel manufacturers in the Asia Pacific region. The region is likely to lead the global automotive control panel market in the foretell period. It is the original equipment manufacturers in this region that are enhancing their technological capabilities and are thus, able to propose better interior facilities for vehicles. The region also shows promising growth potential, owing to a surge in comfort and safety levels in premium and luxury cars. The boost in the production of automobiles along with the rising demand for comfort and convenience also likely to add in the growth of the market over the forecast period.
Top Market Contenders
The outstanding players in the automotive control panel market actively participating are Johnson Controls, Inc. (U.S.), Continental AG (Germany), Hyundai Mobis Co. Ltd. (South Korea), Magna International Inc. (Canada), Lear Corporation (U.S.), Faurecia S.A. (France), Delphi Automotive Plc. (U.K.), Valeo SA (France), Calsonic Kansei Corporation (Japan), and Toyota Boshoku Corporation (Japan).
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