Europe Instrument Cluster Market, By Utility (Speedometer, Odometer, Tachometer, Coolant Temperature Gauge, Oil Pressure Gauge, and Others) , Vehicle Type (ICE Vehicle, Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV), And Fuel Cell Electric Vehicle (FCEV)), Technology (Hybrid, Analog, and Digital), Enterprise Size (Small-Scale Organization, Semi-Urban Mid- Scale Organization, and Large Scale Organizations), End-User (Passenger Cars, Commercial Vehicles, Two-Wheelers, Off-Highway Vehicle, Agriculture Vehicle, and Others), Country (Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Switzerland, Turkey, and Rest of Europe) Industry Trends and Forecast to 2029.
Market Analysis and Insights: Europe Instrument Cluster Market
Europe instrument cluster market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.3% in the forecast period of 2022 to 2029 and expected to reach USD 3,781.98 million by 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. However, fluctuation in raw material costs, such as chips, ICs, and displays, and higher costs associated with digital instrument clusters are expected to hinder the demand in the market.
The instrument cluster is placed directly in front of the steering wheel in most modern automobiles and trucks, placing all of the instruments within the driver's natural line of sight. Some vehicles have turned signal indicators mounted at the front, top end of each fender, many early automobiles had coolant temperature gauges built right into the radiator caps, and some vehicles have also had tachometers that were hood-mounted. No doubt, the first vehicles didn't have instrument clusters when they rolled out of the barns and sheds where they were made (or even when the first mass-produced cars went on sale). They didn't have any instruments at all, for that matter. These early automobiles resembled carriages of the time rather than modern automobiles, and they lacked the passenger compartment or "cockpit" that we are familiar with today.
Rising demand for development of complete digital cockpit solution is expected to drive the growth of the market however, stringent government regulations for vehicle safety is expected to hinder the market’s growth. The increasing adoption of luxury vehicle is expected to create an opportunity for the market’s growth but complicated design structure of digital instrument cluster is expected to challenge the market’s growth
The instrument cluster market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the instrument cluster market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Instrument Cluster Market Scope and Market Size
Europe instrument cluster market is segmented into five notable segments which are based on the utility, vehicle type, technology, enterprise size and end-use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of utility, the Europe instrument cluster market is segmented into speedometer, tachometer, odometer, oil pressure gauge, coolant temperature gauge, and others. In 2022, the speedometer is expected to dominate the market Increase due to the hybrid speedometer technology, demand for wireless speedometers, and enhanced calibration for diagnostic capabilities boost the demand for the speedometer.
- On the basis of vehicle type, the Europe 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, ICE vehicle is expected to dominate the market because passenger vehicles are the most common mode of conveyance in the developed countries and they are increasing in numbers in the developing countries as well due to increasing per capita income.
- On the basis of technology, the Europe instrument cluster market is segmented into hybrid, analog, digital and others. In 2022, hybrid technology is expected to dominate the market as it offers such as driver sleepiness detection systems, lane departure warning systems, driver monitoring systems, blind spot detection systems, etc., is driving the market.
- On the basis of enterprise size, the Europe instrument cluster market is segmented into large scale organizations, semi-urban mid-scale organizations, and small-scale organizations. In 2022, large-scale organizations are expected to dominate the market as they have a higher capacity of production volume and deal with a wide range of product portfolios in the market.
- On the basis of end-user, the Europe instrument cluster market is segmented into passenger cars, commercial vehicles, two-wheelers, agriculture vehicles, off-highway vehicles and others. In 2022, passenger car is expected to dominate due to the market connectivity and telematics are dramatically changing how operations are performed, encouraging manufacturers to provide multiple connectivity services for vehicles because they provide enhanced security and prevent unauthorized vehicle entry, thereby avoiding vehicle mistakes. This has helped the passenger car growth.
Instrument Cluster Market Country Level Analysis
Europe instrument cluster market is segmented into five notable segments which are based on the utility, vehicle type, technology, enterprise size and end-use.
The countries covered in the instrument cluster market report are the Germany, France, U.K., Russia, Italy, Spain, Turkey, Switzerland, Netherlands, Belgium, Luxembourg and rest of Europe. Germany dominates the Europe region due to the hybrid and digital segments are more dominant in this region, due to the presence of prominent luxury car manufacturers such as BMW, Audi, and Mercedes Benz. There is increasing demand for sporty and attractive digital instrument clusters and thus, various manufacturers are adopting new technologies to give these clusters a sporty and appealing look. Moreover, the increasing inclination of people towards luxury, convenience, and stress-free drive is also propelling the growth of the digital type automotive instrument cluster industry worldwide.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand for Development of Complete Digital Cockpit Solution is Expected to Drive the Growth of the Market
The instrument cluster market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period from 2011 to 2020.
Competitive Landscape and Instrument Cluster Market Share Analysis
Instrument cluster market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to instrument cluster market.
Some of the major players operating in the instrument cluster market are Visteon Corporation., Continental AG, PARKER HANNIFIN CORP, Robert Bosch GmbH, Infenion Technologies AG, Delphi Technologies, HARMAN International, Aptiv, YAZAKI Corporation, Nippon Seiki Co., Ltd., DENSO CORPORATION, Renesas Electronics Corporation, IAC Group, LUXOFT, A DXC TECHNOLOGY COMPANY, Spark Minda, ALPS ALPINE CO., LTD, Panasonic Corporation, Simco Ltd, Texas Instruments Incorporated, Mini Meters Manufacturing Co. Pvt. Ltd., and Embitel among others.
Many contracts and agreements are also initiated by the companies’ which are also accelerating the instrument cluster market.
- In March 2019, Visteon Corporation had launched the first 3D cluster for all-new PEUGEOT 208 in all parts of PEUGEOT’s unique 3D i-Cockpit, where the instrument cluster mostly represents the first real 3D cluster in automotive production. It had helped in displaying advanced reflections for creating the impressions of 3D graphics
- In September 2021, HARMAN International announced a collaboration with Renault Mégane E-TECH electric. The collaboration between companies took place for redesigning the interior of the vehicle. The company product launch is in all-new in-car experiences for drivers and customers. The market is expected to have new products with best features and new designs