Automotive Instrument Cluster Market Share

APAC Market Statistics

The Asia Pacific automotive instrument cluster market is projected to hold the largest share of 52% by 2037. The growth of the market can be attributed majorly to the presence of a strong automobile network in the region, the rising trend amongst automobile users for advanced instrument clusters, as well as a growing production of vehicles. For instance, the total production volume of vehicles in China was more than 2.5 million in September 2022 as compared to 2.3 million in August 2022. Furthermore, there have been growing initiatives taken by the government in countries such as Japan, and China to improve the automotive industry, and it is expected to increase the market’s growth in the region. Moreover, there is high demand for automotive including electric vehicle in which hybrid or digital instrument clusters are installed, that is predicted to further contribute to the growth of the market in the region.

Europe Market Forecast

The European automotive instrument cluster market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the increasing presence of luxury cars along with the adoption of digital and hybrid instrument cluster in the countries such as the United Kingdom. Moreover, there has been an advancement in vehicle technologies that is further anticipated to surge the growth of the European region in the market. In addition, there are presence of luxury cars manufacturers, along with the rising purchasing power of the people, that is predicted to boost the region’s growth in the market.