Automotive Control Panel Market Analysis:
The automotive control panel market size is predicted to develop at a 7% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Automotive control panels, simply put, are electrical displaying controls that are used to operate cars. It offers the driver operational knowledge regarding the different systems of the car and plays a pivotal part in boats, ships, airplanes, motorcycles, passenger cars, and other vehicles. Touch screen, manual, and push-button are the different types of automotive control panels, and its different components include electric window, driver monitoring camera, door panel light, side mirror, looking function, smart roof, roof light, touchpad, rotary switch, and more.
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Various factors are propelling the global automotive control panel market share. According to the recent MRFR report, such factors include the rising trend of vehicle electrification, growing stringent safety norms, demand for improved cabin comfort, demand for electric cars, and implementation of fire safety norms. Additional factors adding market growth include the demand for convenience features on premium cars, burgeoning demand for interior styling, rising joint ventures amid domestic players and OEMs, increasing sales of luxury cars, rapid urbanization, and development of sunroof in cars.
On the contrary, the impact of the COVID-19 pandemic may limit the global automotive control panel industry growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global automotive control panel market based on vehicle type, component type, and control panel type.
By control panel type, the global automotive control panel market is segmented into the touch screen, manual, and push-button. Of these, the push button segment will lead the market over the forecast period and at a high CAGR. This comprises switches and buttons for managing operations.
By component type, the global automotive control panel market is segmented into the electric window, driver monitoring camera, door panel light, side mirror, looking function, smart roof, roof light, touchpad, rotary switch, and more. Of these, the electric window will dominate the market over the forecast period.
By vehicle type, the global automotive control panel market is segmented into commercial vehicles and passenger cars. Of these, passenger cars will command the largest share in the market over the forecast period.
By region, the global automotive control panel market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, the APAC region will lead the market over the forecast period. The presence of several top manufacturers, surge in safety levels and comfort in luxury and premium cars, increase in automobile production, growing demand for convenience and comfort, and OEMs improving their technological capabilities are adding to the global automotive control panel market growth in the region.
The global automotive control panel market in North America is predicted to have the second-largest share over the forecast period. Growing demand for convenience features and enhanced comfort is adding to the global automotive control panel market growth in the region.
The global automotive control panel market in Europe is predicted to have sound growth over the forecast period for improved disposable income, growing demand for cars, and technological advances.
The global automotive control panel market in the RoW is predicted to have steady growth over the forecast period.
Leading contenders profiled in the global automotive control panel market report include Calsonic Kansei Corporation (Japan), Toyota Boshoku Corporation (Japan), Delphi Automotive Plc. (U.K.), Valeo SA (France), Lear Corporation (U.S.), Faurecia S.A. (France), Hyundai Mobis Co. Ltd. (South Korea), Magna International Inc. (Canada), Johnson Controls, Inc. (U.S.), and Continental AG (Germany). Industry players have incorporated strategies such as mergers and acquisitions, partnerships, collaborations, joint ventures, contracts, and new product launches to remain at the forefront.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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