NEW YORK, July 27, 2016 /PRNewswire/ -- "Growing demand for interior styling, increased cabin comfort, and convenience is expected to drive the growth of the automotive control panel market"
The automotive control panel market is projected to grow at a CAGR of 8.10% from 2016 to 2021, to reach a market size of USD 110.18 billion by 2021. Key factors driving the growth of this market include rapid urbanization, increasing luxury car sales, and growing demand for interior comfort.
"Driver monitoring camera: Largest market segment"
Driver monitoring cameras are primarily used to detect and monitor the behavior of the driver. The system monitors the movements of the steering wheel, along with other signals in the vehicle, and helps to detect and alert the driver about fatigue. It also alerts the driver about locations or opportunities to stop and take a break. Growing safety concerns in developing countries are expected to propel the growth of this market.
"Asia-Pacific: Highest growth rate for the automotive control panel market"
The Asia-Pacific automotive control panel market is projected to grow at the highest CAGR during the forecast period, as a result of the high demand for vehicles, especially in emerging economies such as China and India. Several OEMs are investing in the region, prompted by factors such as the expanding middle class and the young demographic. Passenger car production is expected to grow in countries such as China and India, owing to the availability of cheap labor and favorable government policies. Japan is the second-largest market for automotive control panels in Asia-Pacific. Market growth in Japan is primarily propelled by the increasing demand for light passenger vehicles and heavy-duty vehicles, and the growing demand for electric vehicles. The region houses OEMs such as Toyota Boshoku Corporation (Japan) and Hyundai Mobis Co. Ltd. (South Korea).
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type – Tier-1 -42%, Tier-2 - 26%, Tier-3 - 32%
- By Designation - C level - 40%, D level - 29%, and Others - 31%
- By Region - North America - 38%, Asia-Pacific - 30%, and Europe - 22%,
The global automotive control panel market is dominated by a few globally established players, such Continental AG (Germany), Johnson Controls, Inc. (U.S.), Hyundai Mobis Co. Ltd. (South Korea), Magna International Inc. (Canada), and Faurecia S.A. (France). Key growth strategies adopted by these players include new product development, partnerships, agreements, joint ventures, and supply contracts.
List of Companies
Magna International Inc.
Johnson Controls, Inc.
Hyundai Mobis Co. Ltd.
Toyota Boshoku Corporation
Calsonic Kansei Corporation
Delphi Automotive PLC
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive control panel market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better, and thereby helps them acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights with reference to the following points:
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for automotive control panels across regions.
- Product Development/Innovation: Detailed insights into R&D activities, upcoming technologies, and new product launches in the automotive control panel market.
- Market Diversification: Detailed information about untapped markets, investments, new products, and recent developments in the automotive control panel market.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the automotive control panel market.
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