The high disposable income of the consumers and the advent of electronics in automobiles are expected to drive the demand for the Turkey automotive instrument cluster market in the forecast period, 2023-2027.
According to TechSci Research report, “Turkey Automotive Instrument Cluster Market By Region, Competition Forecast & Opportunities, 2027”, the Turkey automotive instrument cluster market is expected to witness robust growth in the forecast period, 2023-2027. An instrument cluster is a device that is placed in the automobile in front of the driver. The key components in the instrument cluster are the tachometer, odometer, fuel gauge, temperature gauge, and other warning indicators. The system keeps the driver informed and updated about the current condition of the vehicle. Stringent government policies and regulations emphasizing vehicle and passenger safety and an increase in vehicle production are the primary drivers for the Turkey automotive instrument cluster market. Furthermore, the rise in sales of two-wheeler vehicles due to their easy maneuverability and navigation and low operating and maintenance costs in comparison to four-wheelers are expected to contribute to the market growth over the forecast period.
However, the high cost of digital clusters and the growing level of autonomy reducing human intervention may restrain Turkey automotive instrument cluster market growth in the coming years.
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Turkey automotive instrument cluster market is segmented into vehicle type, cluster type, display screen, display color, regional distribution, and competitive landscape.
Based on vehicle type, the market is divided into two-wheeler, passenger car, light commercial vehicle (LCV), and medium & heavy commercial vehicle (M&HCV). Passenger cars are expected to hold a dominant market share over the next five years, 2023-2027. Entry-level and mid-sized vehicles are highly popular among consumers. Also, the rise in the per capita income, improved living standards, rapid urbanization, and shift in inclination of consumers toward private vehicle ownership are accelerating the production and sales of passenger cars in the country.
Based on cluster type, the market is divided into analog, digital, and hybrid. The hybrid segment is expected to account for a significant market share in the forecast period. The hybrid system is a combination of digital and analog systems and shows vital information about vehicles, such as mileage, temperature, speed, and fuel economy in both analog and digital forms. It is considered more user-friendly and is in high demand among consumers.
Based on the display screen, the market is divided into LCD, LED, and others. The LCD display screen is expected to capture the highest market share in the coming years. They witness high demand as they support low power consumption, minimal heat production, and are low weight. The advantage of using LCD displays in automobiles is expected to boost market growth in the coming years.
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Based on display color, the market is bifurcated into monochrome and colored. The colored segment holds a major share and is expected to witness the fastest incremental growth over the next five years. They have a higher visual appeal and are user-friendly. They generate complete information about the vehicle and help the driver to make informed decisions.
Major market players operating in the Turkey automotive instrument cluster market are:
- Continental AG
- Denso Corporation
- Robert Bosch GmbH
- Visteon Corporation
- Panasonic Holdings Corporation
- Borg Warner (Delphi)
- Magneti Marelli
- Yazaki Corporation
- Simco Ltd.
- Harman International
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“The automotive industry is transforming at a rapid pace and is continuously involved in research and development activities to find new innovative technologies. Digitization in the automotive field and the need to upgrade existing infrastructure are driving the advancements in the automotive instrument cluster. There is enhanced demand for sporty and attractive instrument clusters to increase their aesthetic appearance. Major market vehicle manufacturers such as BMW, Mercedes Benz, and Audi are installing digital clusters in their vehicles. Also, the shift in inclination of consumers towards convenience, luxury, and easy driving and the rise in the number of market players are expected to propel the Turkey automotive instrument cluster market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Turkey Automotive Instrument Cluster Market By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV)), By Cluster Type (Analog, Digital, Hybrid), By Display Screen (LCD, LED, Others), By Display Color (Monochrome, Colored), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Turkey automotive instrument cluster market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Turkey automotive instrument cluster market.
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