Growth of Instrument Cluster Market can be attributed to increasing vehicle production worldwide, stringent government regulations for vehicle and passenger safety across the globe, and increasing demand for instrument clusters from the APAC region due to the increase in sales of two-wheelers. This report segments instrument cluster market based on application, vehicle type, technology, and region.
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The instrument cluster market is expected to be worth USD 9.02billion in 2018 and is expected to reach USD 10.72billion by 2023, at a CAGR of 3.5% between 2018 and 2023. Increasing demand for instrument clusters from the APAC region due to the increase in two-wheeler sales, stringent government regulations for vehicle and passenger safety across the globe, and increasing vehicle production worldwide are some of the driving factors for the growth of the instrument cluster market.
Instrument Cluster Market, By Application:
- Others (Temperature Gauge, Fuel Gauge, Oil Pressure Gauge)
Instrument Cluster Market, By Vehicle Type:
- Passenger Car
Report segments the instrument cluster market based on application, vehicle type, technology, and region.
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The instrument cluster market, based on application, has been segmented into speedometer, odometer, tachometer, and others. The market for speedometer and odometer is expected to grow at the highest CAGR between 2018 and 2023.
Speedometer is a standard equipment used in various types of vehicles.
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The instrument cluster market based on technology has been segmented into analog, hybrid, and digital. The hybrid technology is expected to lead the instrument cluster market.
The rising adoption of hybrid instrument clusters for various types of vehicles such as passenger cars, two-wheelers, and commercial vehicles is expected to drive the growth of the hybrid instrument cluster market for during the forecast period.
Key Target Audience:
- Component and Material Providers
- Automotive Instrument Cluster Manufacturers and Suppliers
- Research Organizations and Consulting Companies
- Associations, Alliances, and Organizations Related to the Instrument Cluster Market
- Analysts and Strategic Business Planners
- OEMs such as Manufacturers of Vehicles including Two-wheelers, Passenger Cars, Commercial Vehicles, Agriculture Vehicles, and Off-highway Vehicles
The report defines, describes, and forecasts the instrument cluster market on the basis of application, vehicle type, technology, and geography. It provides detailed information regarding major factors influencing the growth of the instrument cluster market (drivers, restraints, opportunities, and industry-specific challenges).
It also analyzes competitive developments such as new product launches and developments, collaborations, agreements, contracts, partnerships, acquisitions, and expansions carried out by key players to grow in the market.
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Reasons to Access the Report:
- Illustrative segmentation, analysis, and forecast pertaining to the instrument cluster market based on application, vehicle type, technology, and geography have been conducted to provide an overall view of the market.
- Major drivers, restraints, opportunities, and challenges for the instrument cluster market have been detailed in this report.
- The report includes a detailed competitive landscape of the key players in the market and their revenues.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions.
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