Blog Description

Automotive Instrument: Modern Age Aid for Drivers

Automotive Instrument: Modern Age Aid for Drivers

Automotive | Oct, 2017

    Product Overview:

    Automotive Instrument refers to the standard equipment in a vehicle with an array of gauges and warning lights placed in front of the driver. The latest innovations and advancements in the automotive instruments have led to the inclusion of sophisticated functional attributes in addition to the basic data provided by the traditional instrumentation. The modern and contemporary dashboards in the vehicles feature advanced automotive instruments such as turn indicators, gearshift position indicators, seat belt warning light, parking-brake-engagement warning light and an engine-malfunction light.

    The major function of automotive instrument is to collate the bits of information on a central platform, which lies in the driver’s primary viewing range. The design flexibility, attractive features and well-structured functional abilities offered by automotive instrument are boosting their demand among the vehicle manufacturers throughout the world. Consequently, the growing demand for enhanced user experience and convenience features in automobile industry is anticipated to propel the Global Automotive Instrument Market, at a modest pace.


    Top Trends & Drivers in Global Automotive Instrument Market:

  •         Rising Era of Electric Vehicles: The global automotive instrument market is largely driven by the factors such as progress in developing semi-autonomous & autonomous vehicles, electric vehicles and hybrid electric vehicles. The automotive industry is witnessing growing penetration of electric vehicle instrument cluster in the manufactured EVs across the globe on account of ease of installation and integration. The electric vehicles are equipped with instrument clusters which enable the EV drivers to view speed, battery status, regen status and many other types of information, with great ease and comfort. As a result, the rising adoption of electric vehicles due to increasing government focus on reducing carbon emissions is expected to drive the adoption of automotive instruments as well. As reported by TechSci Research, the global market for electric vehicle infrastructure is projected to grow at a CAGR of over 27% through 2021 owing to the government support in the form of subsidies, grants and tax rebates which would directly impact the demand for electric vehicle instrument cluster in HEVs and EVs.
  • Total Sales of Electric Vehicles in Selected Nations, By Type, 2016


                                                                         Source: International Energy Agency (IEA)

  •          Increasing Production and Sales of Passenger Cars and Commercial Vehicles: The vast production scale of automobiles is complemented with the growing demand for vehicles throughout the globe. The rising middle-class consumer spending and increasing need for personal mobility is driving the sales of passenger cars across the globe. In addition to this, the expansion in transportation sector is comprehending the sales of commercial vehicles at a rapid scale. Subsequently, the incorporation of intelligent driver assistance systems, etc. in the modern transports featuring in-vehicle safety and comfort functions are contributed to the growth of global automotive instruments market.




  •          Mandatory Government Regulations: As per the global road crash statistics published by the Association for Safe International Road Travel (ASIRT), road traffic injuries are predicted to become the fifth leading cause of death by 2030 if no strict actions are taken. Across various countries, the government is increasing emphasis over the adoption and implementation of automotive instruments such as mandatory rear-view sensors for passenger cars to avoid car accidents. For instance, the US Department of Transportation’s National Highway Traffic Safety Administration finalized rules mandating rear visibility technology in all new vehicles under 10,000 pounds by May 2018.


Multifaceted Opportunities in Asia-Pacific Region:

The Asia-Pacific market is showcasing exemplary growth in the global Automotive instrument market owing to the healthy vehicle production and sales statistics exhibited by the region. The increasing discretionary income of population in developing nations such as China and India are driving the sales of vehicles in the region and consequently surging the demand for automotive instruments as well. As a result, the shifting of foreign automobile manufacturing plants to developing countries and the expanding automotive hub are poised to accelerate the global automotive instrument market.


Conclusion:

In conclusion, Automotive Instrument are essentially information hotspot for driver, which shows significant data about the status of the vehicle. An automotive instrument includes the fuel gauge, speedometer, electronic control unit (ECU), illumination & warning indicators, screen and sensors. The Automotive Instrument Market is anticipated to expand due to increasing number of sales of vehicles globally. Global Automotive Instrumentmarket is expected to grow at a CAGR of over 4%, in volume terms over the next five years, on the back of technological advancements and rising vehicle production. Moreover, rising demand for electric vehicles, hybrid electric vehicles, advanced driver assistance system (ADAS) and autonomous driving which would require cultured instrument, is anticipated to drive the Global automotive instrument market during 2017-22.

Some of the major players operating globally in Automotive Instrument are Denso, Robert Bosch GmbH, Delphi Automotive LLP, Mitsubishi Electric, Continental AG, Innolux Corporation, Visteon (the U.S), Luxoft, Pricol, JP Minda Group etc.

Request for Sample Report Today!




Relevant blogs

Know How Battery Management Systems are Revolutionizing Manufacturing05 Jun, 2024

In the race towards sustainability and efficiency, the automotive industry has undergone a remarkable ...

Tipper Truck Capacity in India: An In-Depth Guide31 May, 2024

In the realm of construction and transportation industries, the efficiency of moving materials plays a ...

Top 10 Automated Guided Vehicles (AGVs) Companies in the World 06 May, 2024

Discover the leading Automated Guided Vehicles (AGVs) companies worldwide, revolutionizing industries with ...

Top 12 Electric Vehicle Companies Worldwide02 Feb, 2024

Electric vehicles (EVs) are revolutionizing the automotive industry, and the demand for them is increasing ...

How 5G is Transforming the Automotive Industry21 Dec, 2023

5G technology is changing the way cars function by enabling faster communication between vehicles, ...

Uncovering Two-Wheeler Market Trends in India18 Dec, 2023

Today, consumers are smart. They are aware of the benefits and cons that come with any purchase. With ...

 

Request your query

captcha
Letters are not case-sensitive