Automotive Instrument Cluster Market By Vehicle Type (Heavy Commercial Vehicle, Passenger Cars, Electric Vehicles, and Light Commercial Vehicle), By Display (OLED, TFT-LCD, and LCD), By Cluster Type (Digital, Hybrid, and Analog), By Application (Odometer, and Speedometer) and By Region- Trends, Analysis and Forecast till 2034

Report Code: PMI517823 | Publish Date: May 2024 | No. of Pages: 170

Automotive Instrument Cluster Market Overview

Automotive Instrument Cluster Market was valued at USD 3.9 Billion in 2024 and is projected to grow at a CAGR of 6.70% to reach USD 7.1 Billion by 2034.

An automotive instrument cluster, often simply referred to as a dashboard or instrument panel, is a critical component of a vehicle's interior. It provides the driver with important information about the status and performance of the vehicle. The instrument cluster typically sits behind the steering wheel and is easily visible to the driver without causing distractions.

Automotive Instrument Cluster Market Drivers & Restraints

The increasing vehicle production is a significant driver of growth in the automotive instrument cluster market. As the global automotive industry continues to expand, more vehicles are being manufactured, leading to a higher demand for instrument clusters. With more vehicles being produced, there is a parallel increase in the demand for instrument clusters, as each vehicle requires this essential component. This growing demand drives manufacturers to produce a greater number of instrument clusters.  

Advancements in Digital Displays

Advancements in digital displays in the automotive instrument cluster market have transformed the way information is presented to drivers. These innovations have improved safety, convenience, and the overall driving experience. Digital instrument clusters now feature high-resolution screens, providing crisp and clear visuals. This enhances the readability of information, making it easier for drivers to access data quickly.

Restrains:

Reliability is paramount in the automotive industry. Any malfunction or failure of an instrument cluster could lead to safety hazards. For example, a non-functional speedometer or warning light could pose a risk to drivers. This risk aversion limit the adoption of new and advanced instrument clusters.

Automotive Instrument Cluster Market Segmentations & Regional Insights

Automotive Instrument Cluster Market Segmentation:

Automotive Instrument Cluster Market is segmented based on Vehicle Type, Display, Cluster Type, Application and Region.

Vehicle Type Insight

On the basis of Vehicle Type, Automotive Instrument Cluster Market is segmented into Heavy Commercial Vehicle, Passenger Cars, Electric Vehicles, and Light Commercial Vehicle.

Display Insights

On the basis of Display, Automotive Instrument Cluster Market is segmented into OLED, TFT-LCD, and LCD.

Cluster Type Insights

On the basis of Cluster Type, Automotive Instrument Cluster Market is segmented into Digital, Hybrid, and Analog.

Application Insights

On the basis of Application, Automotive Instrument Cluster Market is segmented into Odometer, and Speedometer.

Automotive Instrument Cluster Market Regional Insights:

On region the Automotive Instrument Cluster Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America market is estimated to witness a significantly high revenue share over the forecast period due to rising investment and funding. North America is a significant market for automotive instrument clusters due to the presence of a well-established automotive industry. Digital clusters with advanced features are popular, and the market is driven by innovation and a focus on user experience.  

Asia Pacific market is estimated to witness a fastest revenue share over the forecast period. Japanese automakers are known for their innovative technologies, and instrument clusters often feature cutting-edge displays and safety features.

Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Vehicle Type - Heavy Commercial Vehicle, Passenger Cars, Electric Vehicles, and Light Commercial Vehicle

By Display - OLED, TFT-LCD, and LCD

By Cluster Type - Digital, Hybrid, and Analog

By Application - Odometer, and Speedometer

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034.

Automotive Instrument Cluster Market Competitive Landscape & Key Players

Automotive Instrument Cluster Market Key Players:

The key players operating the Automotive Instrument Cluster Market includes, Yazaki Corporation, Magneti Marelli S.p.A., Panasonic Corporation, Robert Bosch GmbH, NVIDIA Corporation, DENSO Corporation, Nippon Seiki Co. Ltd., Delphi Automotive PLC, Intel Corporation, and Continental AG.

Automotive Instrument Cluster Market Recent News

The New Launched Product News,

  • In July 2019, Visteon Corporation, the world’s leading supplier of automotive digital instrument clusters, introduced the industry’s first fully digital cluster displaying holographic objects on the all-new PEUGEOT 208. The instrument cluster is the first authentic 3D cluster produced for an automobile and is a part of PEUGEOT's distinctive 3D i-Cockpit.

FAQs

The Automotive Instrument Cluster Market is segmented into Vehicle Type, Display, Cluster Type, Application and Region.

Automotive Instrument Cluster Market is driven by factors like increasing vehicle production and advancements in digital displays.

The key players operating the Automotive Instrument Cluster Market includes, Yazaki Corporation, Magneti Marelli S.p.A., Panasonic Corporation, Robert Bosch GmbH, NVIDIA Corporation, DENSO Corporation, Nippon Seiki Co. Ltd., Delphi Automotive PLC, Intel Corporation, and Continental AG.

Automotive Instrument Cluster Market accounted for US$ 3.4 billion in 2022 and is estimated to be US$ 7.5 billion by 2032 and is anticipated to register a CAGR of 8.3%.