Market Overview

Americas to Lead the Commercial Vehicle Instrument Cluster Market | Technavio

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The global
commercial vehicle instrument cluster market
is expected to
grow at a CAGR of close to 3% during the forecast period, according to
Technavio's latest market research.

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Technavio has published a new report on the global commercial vehicle instrument cluster market from ...

Technavio has published a new report on the global commercial vehicle instrument cluster market from 2017-2021. (Graphic: Business Wire)

In this market research report, Technavio
covers the market outlook and growth prospects of the global
commercial vehicle instrument cluster market for 2017-2021. The market
is further categorized into three segments based on technology which
include analog, hybrid and digital instrument clusters. The analog
instrument clusters segment dominated with 58% of the market share in
2016.

"The commercial vehicle instrument cluster market is expected to grow
due to the reduced prices of TFT displays, which is making
graphics-based instrument cluster affordable. Another factor is the
integration of advanced driver assistance systems in commercial
vehicles, where the driver gets alerts for forward collision warning,
lane departure, pedestrian detection, surround view, park assist and
traffic light detection,"
says Ganesh Subramaniam, a lead automotive
electronics
research expert from Technavio.

Technavio's research analysts segment the global commercial vehicle
instrument cluster market into the following regions:

  • Americas
  • APAC
  • EMEA

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Commercial vehicle instrument cluster market in Americas

North America has a very well-developed transportation infrastructure
with proper transport policies. In 2016, the US and Canada were the
major contributors to the commercial vehicle instrument cluster market
in the Americas. The US, being one of the largest manufacturers of
commercial vehicles in the world, contributes significantly to the
growth of commercial
vehicle instrument cluster market.

"Major OEMs like Ford, General Motors, and Tesla among others are
based in the US. The use of automated trucks in the North American
region further supports the demand for hybrid and analog instrument
clusters. In Brazil, the demand for analog instrument clusters is high
as automated vehicles are not extensively used,"
says Ganesh.

This report is available at a USD 1,000 discount for a limited time
only:
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Commercial vehicle instrument cluster market in APAC

In APAC, the dominant countries for commercial vehicle instrument
cluster are China, Japan, and Australia. However, during the forecast
period, most of the growth for instrument clusters is expected to come
from emerging countries. The growing demand for e-commerce logistics,
construction, and mining are driving the growth for commercial vehicles
in emerging countries, such as India, Thailand, and Indonesia. This in
turn, is driving the demand for analog instrument clusters because
commercial vehicles in these regions are not fully automated.

On the other hand, in countries like Japan, Australia, and China, the
demand for hybrid instrument cluster is high as the commercial vehicles
in these countries are automated to some extent.

Commercial vehicle instrument cluster market in EMEA

In Europe, countries like Germany, France, Italy, Spain, and the UK were
major contributors to the commercial vehicle instrument cluster market.
Improving economic conditions in these regions are driving the demand
for commercial vehicle instrument clusters. However, the stringent
emission standards by the European governments will impact the growth of
heavy commercial vehicles. OEMs have achieved all emission standards up
to Euro VI stage. Now, the standards are being upgraded to Euro VII
standards. If OEMs are not able to achieve those standards by 2021, then
their vehicles will not be allowed on the roads, and this decline in
commercial vehicle sales will, in turn, lead to decline commercial
vehicle instrument cluster sales.

The top vendors in the global commercial vehicle instrument cluster
market as highlighted in this market research analysis are:

  • Continental
  • Bosch
  • Stoneridge
  • Delphi Automotive

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