Global Automotive Control Panel Market Size was valued at USD 123.9 Billion in 2023. The Automotive Control Panel market industry is projected to grow from USD 132.57 Billion in 2024 to USD 212.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2024 - 2032). Demand for application-based technology is expanding, as is demand for cabin comfort and convenience features and for electric vehicles on a global scale, are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The market is expanding as a result of the advent of strict government laws requiring vehicle weight reduction in order to reduce carbon dioxide emissions. Rapid urbanisation, rising interior comfort demand, and rising sales of premium vehicles are the key drivers boosting the market for automotive control panels. A few of the factors driving the growth of the automotive control panel market include the rising need for electric vehicles, rising demand for cabin comfort and convenience features, and rising requirement for application-based improvements. Among the major opportunities driving the automobile control panel market are the demand for interior design and the development of solar sunroofs. Therefore, the development of the electronics and communications sector as well as collaboration between significant OEMs and local companies are crucial to the expansion of the automotive control panel market. The structure of the control panel has also evolved as a result of inventions and increased vehicle electrification and tight security regulations.
The market for automobile control panels has grown as a result of consumer desires for improved interior comfort and convenience features. One of the key challenges impeding the growth of the automotive control panel market is the reprocessing of plastic interior components used in the automobile industry. Managing opulent interiors at cheap cost is one of the key issues that presents obstacles for the growth of the automotive control panel industry. The need for automotive control panel market and control panels is also being driven by the growing necessity for electric automobiles.
Recent technical developments in the automotive industry have increased demand for touch screen control panels in luxury vehicles. Demand for electric vehicles has also increased due to its rapid growth. Furthermore, the business is progressing due to increased urbanisation and rising consumer demand for comfortable interior facilities. On the other hand, high repair and maintenance costs are a significant issue that can restrain the market's expansion. The market is also being driven forward by the government's introduction of strict regulations for vehicle weight reduction. The Automotive Control Panel Market is expanding as a result of quick urbanisation, rising interior comfort demand, and rising sales of luxury vehicles.
A few of the factors propelling the Automotive Control Panel Market ahead include rising demand for electric vehicles, rising need for cabin comfort and convenience features, and rising demand for application-based advancements. In recent years, advanced technological advancement in cars has returned. Because of the low cost of labour and raw materials in countries like China and India, complex electronic materials are easily accessible. The inclusion of multimedia systems, engine management, and entertainment services has increased in recent years. Therefore, the development of the electronics and communications sectors is essential for the growth of the market for vehicle control panels. As vehicles become more electrified and subject to stricter safety standards, control panel systems have advanced and expanded. On the other hand, the management expense related to changing the control panel structure is anticipated to have a little unfavourable influence on the automotive control panel market. Thus, driving the Automotive Control Panel market revenue.
The global Automotive Control Panel market segmentation, based on Vehicle type, includes passenger cars, HCVs, and LCVs. Passenger cars segment accounted for the largest revenue share in 2022. The Control panels are made to take up the least amount of room possible for mechanical equipment. Control panels are now being included into the interior architecture of vehicles thanks to advancements in automotive technology.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The global Automotive Control Panel market segmentation, based on component, includes rotary switch, touchpad, roof components control, electric window, locking function, smart roof, side mirror, door panel light, roof light, and driver monitoring camera. Driver monitoring camera segment dominated the global Automotive Control Panel market in 2022. With the help of these cameras, drivers should be able to avoid potentially hazardous circumstances while they are driving. The market for driver monitoring cameras is predicted to experience rapid growth due to the rising demand for safety features in automobiles.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Control Panel Market dominated this market in 2022 (45.80%). This is due to the fact that the study's recommended control panel types—roof control, roof light, smart roof, locking function, side mirror, and door light—also happen to be those with the fastest regional growth for vehicle control panels. Further, the U.S. Automotive Control Panel market held the largest market share, and the Canada Automotive Control Panel market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Control Panel market accounted for the healthy market share in 2022. In Europe, the rise of the automobile integrated control panel industry is being driven by the rising adoption of technologically advanced head-up displays. Further, the German Automotive Control Panel market held the largest market share, and the U.K Automotive Control Panel market was the fastest growing market in the European region.
The Asia Pacific Automotive Control Panel market is expected to register significant growth from 2024 to 2032. The market for automotive control panels is expected to grow over the forecast period as a result of the increase in the production of automobiles as well as the rising need for accessibility and ease of use. Moreover, China’s Automotive Control Panel market held the largest market share, and the Indian Automotive Control Panel market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Control Panel market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Control Panel industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Control Panel industry to benefit clients and increase the market sector. In recent years, the Automotive Control Panel industry has offered some of the most significant advantages to medicine. Major players in the Automotive Control Panel market, including Magna International Inc., Faurecia S.A., Hyundai Mobis Co., Ltd., Toyota Boshoku Corporation, Calsonic Kansei Corporation, Lear Corporation, Continental AG, Johnson Controls, Inc., Delphi Automotive PLC., Valeo SA, TATA Motors, Renault, Ford Motor Company, Navistar Inc, and Groupe PSA, are attempting to increase market demand by investing in research and development operations.
Automobile manufacturer Polestar Performance AB (Polestar Performance) concentrates on the retail selling of both new and used cars. The corporation has its headquarters in Sweden's Gothenburg. Polestar debuted Polestar 3, its third all-electric SUV model, to the world market in October 2022. This vehicle has a cutting-edge climate control technology to keep passengers comfortable on extended trips.
The automotive industry is served by Bayerische Motoren Werke AG (BMW). It creates, produces, and markets bikes, cars, replacement parts, and other vehicles as well as engines. Additionally, the business provides services for insurance, fleet management, retail customer and dealer financing, deposit business, and automobile leasing. It sells goods under the labels Motorrad, BMW, MINI, Rolls-Royce, Alphabet, John Cooper Works, and YOUR NOW. Customers from Europe, the Americas, Asia, and other continents are catered to by the business. It has factories for production and assembly as well as a global sales network. The headquarters of BMW are located in Munich, Bavaria. BMW introduced the iNext electric crossover with curved display in May 2019. It combines the control display and information sections into a single unit that is curved in the direction of the driver.
November 2018: With the recently announced sale of its Power Solutions division, Johnson Controls International, one of the biggest suppliers to the automobile sector, has fully transitioned into a non-automotive firm.
April 2016: Magna International Inc. has approved a purchase agreement to acquire Telemotive AG, a provider of designing services for the automotive electronics sector.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 123.9 Billion |
| Market Size 2024 | USD 132.57 Billion |
| Market Size 2032 | USD 212.9 Billion |
| Compound Annual Growth Rate (CAGR) | 6.10% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vehicle Type, Component, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Magna International Inc., Faurecia S.A., Hyundai Mobis Co., Ltd., Toyota Boshoku Corporation, Calsonic Kansei Corporation, Lear Corporation, Continental AG, Johnson Controls, Inc., Delphi Automotive PLC., Valeo SA, TATA Motors, Renault, Ford Motor Company, Navistar Inc, and Groupe PSA |
| Key Market Opportunities | Rising demand for application based advancements |
| Key Market Dynamics | Increasing demand for application-based technologies, rising demand for cabin comfort & convenience features, and growing global demand for electric vehicles |
Automotive Control Panel Market Highlights:
Frequently Asked Questions (FAQ) :
The global Automotive Control Panel market size was valued at USD 123.9 Billion in 2023.
The global market is projected to grow at a CAGR of 6.10% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Magna International Inc., Faurecia S.A., Hyundai Mobis Co., Ltd., Toyota Boshoku Corporation, Calsonic Kansei Corporation, Lear Corporation, Continental AG, Johnson Controls, Inc., Delphi Automotive PLC., Valeo SA, TATA Motors, Renault, Ford Motor Company, Navistar Inc, and Groupe PSA
The Passenger Cars Vehicle Type dominated the market in 2022.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
