The automotive industry has undergone a massive technological revolution in the recent past. The latest electronic developments have transformed the car manufacturing industry in particular. The building blocks of automotive systems gradually transitioned from mechanical to electronic, while establishing a new status in the industry. The rising amount of digital content accessed within the vehicle is one of the key factors behind this change.    ​

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The global instrument cluster market is expected to reach USD 13,738.06 million by 2029 from USD 9,228.48 million in 2021, growing with a CAGR of 5.2% in the forecast period of 2022 to 2029. The growth of the automotive industry in developing countries, and the rise in demand for high-end passenger cars are driving the automotive instrument cluster market. In addition, the rise in production & sales of vehicles and increase in infotainment systems are boosting the market growth.        

Rising demand for development of complete digital cockpit solution across the world will drive the market's growth rate

Currently, consumers expect to be constantly connected to their digital lives, no matter where they are. Therefore, the companies have started building products and services that support the in-vehicle experience to meet the user's expectations. Through value and integrated engineering, the global market solutions have enabled a personalized and integrated cabin user experience for the consumers. Digital cockpit solution has revolutionized the automotive industry by providing a unified digital experience to the user. Technologies such as digital interfaces, and HMI allows the manufacturers to overcome the limitations of the instrument cluster and other interfaces. Moreover, the companies have started to add a conversational AI platform to the cockpit allowing passengers to interact with in-car and 3rd-party apps via voice. Hence, the rising demand for the development of complete digital cockpit solutions is expected to propel the instrument cluster market significantly.

Report Scope and Market Segmentation

Segment Analysis:

The global instrument cluster market is categorized into five segment on the basis of utility, vehicle type, technology, enterprise size and end-user

• On the basis of utility, the global instrument cluster market is segmented into speedometer, tachometer, odometer, oil pressure gauge, coolant temperature gauge, and others. In 2022, the speedometer segment is expected to dominate the global instrument cluster market with 28.63% market share as they are the primary component of any instrument cluster which provides all the information to the driver related to the vehicle.
• On the basis of vehicle type, the global instrument cluster market is segmented into ICE vehicle, battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), hybrid electric vehicle (HEV), and fuel cell electric vehicle (FCEV). In 2022, the ICE vehicle segment is expected to dominate the global instrument cluster market with 79.57% market share due the increasing demand for electric vehicles with advanced features, and the rising need for filtering the information according to the driving scenario.
• On the basis of technology, the global instrument cluster market is segmented into hybrid, analog, digital and others. In 2022, the hybrid technology segment is expected to dominate the global instrument cluster market with 48.77% market share as it offers modern displays with themes, colors, and even 3D imagery thereby making it more efficient for detecting a dynamic speed change.
• On the basis of enterprise size, the global instrument cluster market is segmented into large scale organizations, semi-urban mid-scale organizations, and small-scale organizations. In 2022, the large scale organizations segment is expected to dominate the global instrument cluster market with 50.66% market share as they have a higher capacity of production volume and deal with a wide range of product portfolios in the market.

The large-scale organizations segment will dominate the enterprise size segment of the instrument cluster market

The large-scale organization's segment will emerge as the dominating segment enterprise size segment. This is because of the growing number of large-scale organizations in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of end-user, the global instrument cluster market is segmented into passenger cars, commercial vehicles, two-wheelers, agriculture vehicles, off-highway vehicles and others. In 2022, the passenger cars segment is expected to dominate the global instrument cluster market with 33.04% market share as the implementation of digital display and instrument cluster are higher in the passenger cars such as compact, hack back and others.

The passenger car segment will dominate the end-user segment of the instrument cluster market

The passenger car segment will emerge as the dominating segment under end-user with approximately 33% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors and electronics industry all around the globe will further bolster the growth of this segment.

Major Players  

Data Bridge Market Research recognizes the following companies as the market players in instrument cluster market: Huhtamaki (Finland), DS Smith (U.K.), Ball Corporation (U.S.), Tetra Pak (Switzerland), Printpack (U.S.), Mondi (U.K.), Sealed Air (U.S.), WestRock Company (U.S.), Sonoco Products Company (U.S.), Pactiv Evergreen Inc. (U.S.), Berry Global Inc. (U.S.), EMERALD PACKAGING (U.S.), Amcor plc (Australia), UFlex Limited (India), Nampak Ltd. (South Africa), Plastipak Holdings, Inc. (U.S.), Crown Holdings, Inc. (U.S.), Ardagh Group S.A. (Luxembourg), Smurfit Kappa (Ireland), Elopak (Norway).

Market Development

• In October 2020, Marelli Holdings Co., Ltd. was awarded the prestigious PACE award for its very high-pressure fuel system that boosts the efficiency of internal combustion engines. This had further helped the company to get recognized in the premium market
• In November 2019, Robert Bosch GmbH announced the launch of the optical Light Drive system for smart glasses. The system is a sole source, all-in-one technology stack which consists of MEMS mirrors, optical elements, sensors, and onboard processing. Thus the company is trying to improve driving safety.

Regional Analysis

Geographically, the countries covered in the instrument cluster market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in instrument cluster market during the forecast period 2022 - 2029

North America dominates the market for instrument clusters. The instrument cluster market is expected to expand due to the presence of significant key players like TESLA, FORD, GMC, and LINCOLN, as well as improvements in automotive technology, digitization, and the rising demand for luxury automobiles in this area. The advancement of voice-based communication and human-machine interfaces is advantageous for market expansion.

Asia-Pacific is estimated to be the fastest growing region in instrument cluster market the forecast period 2022 - 2029

Asia-Pacific is the second-largest region in terms of market share for instrument clusters worldwide. Growing disposable income, the Indian government's "MAKE IN INDIA" initiative, and increased investment in the region's infrastructure and technological advancements all contribute to the instrument cluster market demand. In the Philippines, TVS, an Indian automaker, debuted the "TVS Apache RR 310" and "TVS NTorq 125 Scooter."  

COVID-19 Impact

The COVID-19 outbreak has substantially impacted the size of the global instrument cluster market. New projects have stagnated all around the world, which has slowed market expansion. Due to workers staying at home, global supply chains have been interrupted as manufacturers attempt to incorporate modern instrument cluster systems. The effects of COVID-19 on this market are only short-term because only the supply chain and production are slowed. Production, supply networks, and demand for these products are anticipated to rise once the situation improves steadily. The current situation is anticipated to give businesses the chance to consider how to raise production, learn more about technologies, and enhance current items.

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