Global Automotive Control Panel Market to Reach $106.4 Billion by 2026

SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Automotive Control Panel - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to our digital archives and MarketGlass Research Platform
  • Complimentary updates for one year

Edition: 10; Released: May 2022
Executive Pool: 11953
Companies: 81 - Players covered include ACTIA GROUP; Alps Alpine Co., Ltd.; C&K; Calsonic Kansei Corporation (Marelli); Carling Technologies, Inc.; Continental AG; EAO AG; Eaton Corporation; Eissmann Automotive Deutschland GmbH; Faurecia SA; HELLA; Hyundai Mobis Co., Ltd.; Johnson Electric; JP Minda (JPM) Group; Judco Manufacturing, Inc.; KOSTAL Automotive Electrical Systems; Lear Corporation; Littelfuse, Inc.; LS Automotive Technologies; Preh GmbH; Rees, Inc.; Toyodenso Co., Ltd.; Valeo SA (France). and Others.
Coverage: All major geographies and key segments
Segments: Component (Electric Window, Rotary Switch, Roof Light, Touchpad, Locking Function, Other Components); End-Use (Passenger Cars, Commercial Vehicles)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-
Amid the COVID-19 crisis, the global market for Automotive Control Panel estimated at US$80 Billion in the year 2022, is projected to reach a revised size of US$106.4 Billion by 2026, growing at a CAGR of 6.1% over the analysis period. Electric Window, one of the segments analyzed in the report, is projected to grow at a 6% CAGR, while growth in the Rotary Switch segment is readjusted to a revised 5% CAGR. Automotive control panels or dashboards continue to be an integral component of vehicles and represent a panel set in the central console of the automobile. Generally located in front of a driver, the control panel is intended to display control and instrumentation for vehicle operation. Automotive control panel features a number of gauges that work together and display desirable information to ensure seamless operations and enhanced safety. Some of the typical components of a control panel include speedometer, odometer, tachometer, gear display, fuel gauge, turn signal indicator and active system lights. While speedometer displays vehicle speed in specific units, odometer shows the total distance traveled by a vehicle in its lifetime. Tachometer displays the rotation count per minute for the engine. Drivers consider fuel gauge for gaining information about the fuel remaining in the tank, while turn signal indicators are flashed to indicate a turn or hazard. In addition, active system lights inform users of parts that are activated, including an open door or trunk.

With market fortunes linked to the production trends in the automotive industry, the Russia-Ukraine war has the automotive industry on edge. The automotive industry, which had been looking forward to overcome pandemic-imposed supply chain challenges, is fearing yet another blow with Russia invading Ukraine on February 24, 2022. The Russian incursion has dealt a major blow to the global automotive industry, stalling work at some automotive assembly plants, and prompting several major manufacturers to suspend shipments headed to Russian borders or halt their production operations in the country. Several internationally leading automobile companies announced discontinuation of shipments to Russian partners for delivery to local dealers. Some of these big names include Audi, Chevrolet, Porsche and Tata Group (of Land Rover) among others. The crisis has given rise to yet another major obstacle (following the pandemic caused disruptions) in key parts reaching their destinations, hitting the European automakers the hardest. Outside of Europe, operations of Korean automakers such as Hyundai Group and Kia are also affected with these companies having major manufacturing operation in Russia. The Korean automotive industry relies heavily of Ukrainian supply of superconductors, rare gases (such as neon, xenon, krypton and others), and EV battery cells, which in a more likely scenario cause the prices to rise. Hyundai and Kia account for major share in the Russian automobile market, and sanctions on Russia, imply a major setback for the Korean conglomerates. Further, the war is also likely to impede global production of EV battery cells, since Ukraine is the third largest global producer of two of the most valuable resources used in EV components and battery, nickel and aluminum. The country is produces about 70% of the total neon gas the world requires for use in chips.

Additional automakers hit by the crisis include Toyota, Renault and Stellantis who have major manufacturing facilities in Russia. Toyota manufacturers its leading model, Camry, in Russia. Renault partially own AvtoVAZ, a leading local automaker, and makes a large part of its earnings through sales in Russia. Stellantis manufacturers Mitsubishi models in the country at a production plant in Kaluga. In the interim, Skoda curtailed production of Enyaq iV electric crossover at its plant in Czech Republic citing unavailability of parts. The Russia-Ukraine war has led to shortage of wire harnesses, which has paralysed operations in the European automotive industry. BMW, Volkswagen and Porsche among other automakers are facing difficulty in securing wire harnesses supplies, as war hit facilities in Ukraine ceased operations, causing automotive facilities in European countries such as Germany to halt car production. The war situation is causing most automakers with facilities in Russia to suspend activity. Toyota would soon be joining the list of those ceasing production work in Russia citing supply chain imbalances. Further, the company would also discontinue its car imports into the country. Similarly, Honda Motor Co. announced plans to discontinue car exports to Russia; Volkswagen intends to temporarily cease operations at multiple plants owing to shortage of key parts (meant to arrive from Ukraine); Ford Motor Co. suspended operations in Russia; and UK-based Aston Martin and Jaguar Land Rover halted vehicle shipments headed to Russia. Meanwhile, Volvo, Volkswagen, General Motors and Daimler Truck among many other companies either already have or would halt shipments to Russia. Volkswagen would be stopping EV production (VW ID3 model) at its two German plants with supplies of key parts no longer moving out of Ukraine, while Cupra and Audi would also be stalling their EV production. Also affected is the business of Aptiv, an auto technology supplier, who moved its high-volume production outside of Ukraine. The Russia-Ukraine conflict is giving rise to more difficult situations than one. Besides the chip shortage, wire harnesses shortage, and halted supply of rare gases, there is also the shortage of electrical cables. With producers such as Leonio AG (Germany) shutting down their Ukrainian production units, European automakers face yet another bottleneck in sourcing electrical cables.

Beyond these challenges, the move towards digital dashboards bodes well for market growth. Digital dashboards registered impressive gains in the following decades with continuous technological advances that played an important role in uplifting the driving experience by providing drivers with more information. Car makers today are exploring different formats, sizes and configurations associated with these control panels. The Tesla boasts an advanced iPad-like infotainment unit within the center console along with a digital display unit behind the wheel. Some of the leading car companies are paying more attention to various combinations of head-up displays and physical screens to make their dashboards more informative. Upcoming car models are anticipated to come integrated with multiple screens on dashboards. Tesla Motors' 2020 Model S comes with a futuristic digital dashboard with an LED display intended to provide users with different types of data. The multi-functional display features odometer, speedometer, battery life, and energy efficiency rating. The digital control panel displays a 2D map along with live animation and navigation instructions. Some of the digital dashboards incorporated into latest car models are intended to deliver vehicle statistics with convenience and safety. Further advances in this direction are anticipated to equip upcoming car models with digital control panels that score high in terms of functionality as well as aesthetics.

Digital dashboards with LCDs feature touchscreen operation and provide different parameters like engine RPM, vehicle speed, engine temperature and oil pressure along with battery charging, remaining fuel and real-time feedback. LCD displays are an impressive addition to digital control panels and display different types of information through dedicated software. The increasing appeal of digital control panel can be attributed to its ability to deliver precise information in comparison to analog options while providing automakers with a compelling solution to achieve space savings. Small LCD or LED arrangement is capable of presenting data to a decimal format and cycling different datasets with the press of a single button. The ability of digital control panels to perform a job faster and better is prompting an increasing number of car makers to part ways with analog versions that consume valuable space with different gauges. A single digital display can provide drivers with information regarding various parameters like tire pressure, air-fuel ratio, oil pressure, fuel/air pressure, turbo boost and water temperature. The idea of digital car dashboards is also gaining traction with availability of sophisticated display technologies, including LCDs and high-resolution displays. These displays have experienced notable changes and evolution before yielding fully-customizable digital control panels. Latest versions of these dashboards allow users to get desired information on the screen, including blind spot camera view, information about connected phone and navigation aid. The customization has played an important role in reducing driver distraction, resulting in enhanced safety. These panels are witnessing high uptake among car makers as they allow manufacturers to consider same hardware in various models while ensuring desired level of differentiation. Head-up displays used in cars augment analog gauges with digital readout on windshield glass. Digital control panels are benefitting from availability of software-driven panels that convey information on the display panel. These digital control panels present information as text messages, numeric parameters and graphical gauges. In contrast to traditional electromechanical panels, these highly interactive displays exhibit enhanced flexibility and versatility. In the recent years, an increasing number of car models have been introduced with next-generation LDC screen panels. Some of these models rely heavily on digital speedometers as analog versions are unable to keep up with rev changes. Digital car dashboards are poised to maintain their increasing relevance and become an indispensable part of new car models. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./

Follow Us on Twitter
https://twitter.com/marketbytes

Journalists & Media
Info411@strategyr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/global-automotive-control-panel-market-to-reach-106-4-billion-by-2026--301557122.html

SOURCE Global Industry Analysts, Inc.

Posted In: automotiveTransportation/Trucking/RailroadPress Releases

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.